RHODE ISLAND MARINE TRADE ASSOCIATION (EIN 050309513) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

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

VISION IS TO POSITION RHODE ISLAND MARINE INDUSTRY AS LEADERS IN OUR COMMUNITY AND OUR ECONOMY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$112,058

Total Directors

$112,058

Key Employees

Highest Compensated

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

RHODE ISLAND MARINE TRADE ASSOCIATION