RHODE ISLAND ARTS FOUNDATION AT NE… - Form 990 Financial Data

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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

1968

Legal Domicile

Principal Officer

SUZANNA LARAMEE

Phone

4018461133

Tax Period

2024-09-01 to 2025-08-31

RHODE ISLAND ARTS FOUNDATION AT NEWPORT, founded in 1968, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $548K, a strong 23% operating margin.

Mission

TO CELEBRATE CLASSICAL MUSIC AS A LIVING ART FORM THROUGH INSPIRING CONCERTS IN INTIMATE AND HISTORIC LOCATIONS.

Program Service Accomplishments

Program 1

Expenses: $989,592

THE 2024/25 SEASON WAS THE THIRD YEAR OF YEAR-ROUND PROGRAMMING PRESENTED BOTH AT THE NEWPORT CLASSICAL RECITAL HALL AND NEIGHBORHOOD-CENTERED LOCATIONS AROUND AQUIDNECK ISLAND. NEWPORT CLASSICAL IS PROUD TO BE AN ESSENTIAL PILLAR OF RHODE ISLAND'S CULTURAL LANDSCAPE, CONTRIBUTING TO THE PROSPERITY AND VIBRANCY OF ITS COMMUNITY ALL YEAR LONG THROUGH ITS FOUR CORE INITIATIVES - THE ONE-OF-A-KIND MUSIC FESTIVAL; THE CHAMBER SERIES IN THE NEWPORT CLASSICAL RECITAL HALL; THE FREE, FAMILY-FRIENDLY COMMUNITY CONCERTS SERIES; AND THE MUSIC EDUCATION AND ENGAGEMENT INITIATIVE THAT INSPIRES STUDENTS IN LOCAL SCHOOLS TO BECOME THE ARTS ADVOCATES AND MUSIC LOVERS OF TOMORROW. THE SEASON INCLUDED 53 CONCERTS AND ATTRACTED NEARLY 11,500 PATRONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,509,381

Program Service Revenue $644,677

Investment Income $189,340

Other Revenue $6,545

TOTAL REVENUE $2,349,943

Expense Breakdown

Grants Paid $0

Salaries & Benefits $732,707

Fundraising Expenses $533,521

Program Expenses $989,592

Other Expenses $1,069,009

TOTAL EXPENSES $1,801,716

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,349,943	$1,886,883	+0.2%
Expenses	$1,801,716	$1,585,592	+0.1%
Net Income	$548,227	$301,291	+0.8%

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

$192,518

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELANIE M NIEMIEC	TREASURER	2.00	Officer Director	$0	$0	$0
LESLIE MATHIEU HOGAN	SECRETARY	2.00	Officer Director	$0	$0	$0
SUZANNA LARAMEE	PRESIDENT	2.00	Officer Director	$0	$0	$0
STEPHEN D JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
TERRY MORGENTHALER	DIRECTOR	1.00	Director	$0	$0	$0
JOAN SWEENEY	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN HUTTLER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ALYS D KRICHAVSKY	DIRECTOR	1.00	Director	$0	$0	$0
DIANA PEARSON	DIRECTOR	1.00	Director	$0	$0	$0
RANDOLPH JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
DONALD OSBORNE	DIRECTOR	1.00	Director	$0	$0	$0
BARRY BERGER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BOXER	DIRECTOR	1.00	Director	$0	$0	$0
MARIA VERGARA	DIRECTOR	1.00	Director	$0	$0	$0
LOUISE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
ERIC GERSHMAN	INTERIM EXECUTIVE DIRECTOR	60.00	Officer Director	$0	$0	$0
GILLIAN FOX	EXECUTIVE DIRECTOR (UNTIL JULY 2025)	60.00	Officer	$172,960	$19,558	$192,518

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
2025	$2,349,943	$1,801,716	$3,858,050	$548,227
2024	$1,886,883	$1,585,592	$3,261,002	$301,291
2023	$1,656,137	$1,323,540	$2,727,726	$332,597
2022	$2,161,875	$1,181,404	$1,958,551	$980,471
2021	$1,351,505	$882,400	$1,049,090	$469,105
2020	$925,009	$552,610	$765,122	$372,399
2018	$1,080,655	$1,141,465	$515,388	$-60,810

RHODE ISLAND ARTS FOUNDATION AT NEWPORT