RHODE ISLAND MARINE TRADE ASSOCIATION

EIN: 050309513

NEWPORT, RI

Total Revenue
$776,358
Total Expenses
$810,936
Total Assets
$355,692
Net Assets
$172,850
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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
RI
Principal Officer
BRIAN DURSI
Phone
4013969619
Tax Period
2023-10-01 to 2024-09-30

RHODE ISLAND MARINE TRADE ASSOCIATION, founded in 2001, is a small nonprofit that reported $776K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

Mission

RIMTA'S MISSION IS TO CHAMPION THE RHODE ISLAND MARINE INDUSTRY THROUGH ADVOCACY, EDUCATION, ENVIRONMENTAL STEWARDSHIP, INNOVATION AND PROMOTION.

Program Service Accomplishments

Program 1

MEMBER SERVICES MEMBER SERVICES INCLUDES MEMBER EVENTS THAT ARE HOSTED DURING THE YEAR, INCLUDING AN ANNUAL MEETING AND SPECIAL EVENTS, SUCH AS AN ENVIRONMENTAL CONFERENCE. EVENTS ARE USED AS MEMBER...

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MEMBER SERVICES MEMBER SERVICES INCLUDES MEMBER EVENTS THAT ARE HOSTED DURING THE YEAR, INCLUDING AN ANNUAL MEETING AND SPECIAL EVENTS, SUCH AS AN ENVIRONMENTAL CONFERENCE. EVENTS ARE USED AS MEMBER ENGAGEMENT OPPORTUNITIES FOR BUSINESS-TO-BUSINESS NETWORKING, EDUCATION, AND CELEBRATION. MEMBER SERVICES ALSO INCLUDES SHRINK WRAP RECYCLING, WHICH IS A STATEWIDE SHRINK WRAP RECYCLING PROGRAM TO PROVIDE AN ENVIRONMENTALLY FRIENDLY ALTERNATIVE FOR PLASTIC WASTE FOR ITS MEMBERS THAT IS COORDINATED BY THE ASSOCIATION. THE ASSOCIATION ALSO PROVIDES FEE FOR SERVICE CONSULTING TO THE INDUSTRY RELATED TO WORKFORCE DEVELOPMENT, PROJECT MANAGEMENT, AND FIBERGLASS BOAT RECYCLING.TRAINING AND EDUCATION THE ASSOCIATION COORDINATES TRAINING AND INDUSTRY EXPOSURE PROGRAMS FOR YOUTH AND NEW WORKERS. THE ASSOCIATION ALSO COORDINATES AND AWARDS INCUMBENT WORKER TRAINING FUNDS TO ITS MEMBERSHIP VIA A GRANT FROM THE STATE OF RHODE ISLAND. RIMTA FUTURE IS A YOUNG LEADERS GROUP SUPPORTED BY RIMTA. OTHER PROGRAMS THE ASSOCIATION ALSO PROVIDES OTHER PROGRAMS IN SUPPORT OF ITS MISSION. INCLUDED IN OTHER PROGRAMS IS COSTS INCURRED BY THE ASSOCIATION FOR A LOBBYIST FOR INSTATE REPRESENTATION AT THE STATE HOUSE.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $676,465
Program Service Revenue $99,787
Investment Income $106
Other Revenue $0
TOTAL REVENUE $776,358

Expense Breakdown

Grants Paid $0
Salaries & Benefits $333,674
Fundraising Expenses $0
Other Expenses $477,262
TOTAL EXPENSES $810,936

Year-over-Year Comparison

2023 2022 Change
Revenue $776,358 $891,786 -0.1%
Expenses $810,936 $888,438 -0.1%
Net Income $-34,578 $3,348 -11.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
20
Independent Members
19
Employees
3
Volunteers
19

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$112,058
Total Directors
20
$112,058
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN DURSI EXECUTIVE DIRECTOR 40.00
Officer Director
$112,058 $0 $112,058
MATTHEW LEDUC CHAIRPERSON 0.25
Officer Director
$0 $0 $0
RAYMOND LEBLANC PRESIDENT 0.25
Officer Director
$0 $0 $0
WHITNEY JONES VICE PRESIDENT 0.25
Officer Director
$0 $0 $0
JAY FRECHETTE SECRETARY 0.25
Officer Director
$0 $0 $0
PAUL HARDEN TREASURER 0.25
Officer Director
$0 $0 $0
ANDREW TYSKA DIRECTOR 0.25
Director
$0 $0 $0
BENJAMIN SORKIN DIRECTOR 0.25
Director
$0 $0 $0
WILLIAM KENYON DIRECTOR 0.25
Director
$0 $0 $0
FORREST HOXSIE DIRECTOR 0.25
Director
$0 $0 $0
RICHARD CROMWELL DIRECTOR 0.25
Director
$0 $0 $0
ERIC GOETZ DIRECTOR 0.25
Director
$0 $0 $0
HOLLY DUFFY DIRECTOR 0.25
Director
$0 $0 $0
JOSPH MARIANI DIRECTOR 0.25
Director
$0 $0 $0
JOHN TREGENZA DIRECTOR 0.25
Director
$0 $0 $0
JONANTHAN LYONS DIRECTOR 0.25
Director
$0 $0 $0
JONATHAN MENDES DIRECTOR 0.25
Director
$0 $0 $0
MICHAEL HARRINGTON DIRECTOR 0.25
Director
$0 $0 $0
SAMUEL MOORE DIRECTOR 0.25
Director
$0 $0 $0
SUSAN DALY DIRECTOR 0.25
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $776,358 $810,936 $355,692 $-34,578
2023 $891,786 $888,438 $251,691 $3,348
2022 $762,276 $758,767 $280,490 $3,509
2021 $1,180,549 $1,187,904 $284,726 $-7,355
2020 $887,929 $894,751 $316,432 $-6,822
2019 $1,111,956 $1,094,460 $310,647 $17,496
2018 $1,290,622 $1,281,284 $318,079 $9,338
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