ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF RHODE ISLAND (EIN 050380940) - 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

1979

Legal Domicile

Principal Officer

DANIEL EGAN

Phone

4012728270

Tax Period

2023-07-01 to 2024-06-30

ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF RHODE ISLAND, founded in 1979, is a small nonprofit in the Education sector that reported $616K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $595K left a modest 3% surplus.

Mission

INTERPRET THE ROLE AND CONTRIBUTIONS OF INSTITUTIONS OF HIGHER LEARNING IN RHODE ISLAND.

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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 $538,850

Program Service Revenue $0

Investment Income $15,240

Other Revenue $61,852

TOTAL REVENUE $615,942

Expense Breakdown

Grants Paid $0

Salaries & Benefits $449,124

Fundraising Expenses $0

Program Expenses $521,999

Other Expenses $145,469

TOTAL EXPENSES $594,593

Year-over-Year Comparison

	2023	2022	Change
Revenue	$615,942	$561,436	+0.1%
Expenses	$594,593	$559,823	+0.1%
Net Income	$21,349	$1,613	+12.2%

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

N/A

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

$322,211

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLI ARMSTRONG	CHAIR	1.00	Officer Director	$0	$0	$0
ROSS GITTELL	VICE CHAIR	1.00	Officer Director	$0	$0	$0
REVERAND KENNETH SICARD	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
CHRISTINA PAXSON	MEMBER	1.00	Director	$0	$0	$0
MARIE BERNANDO-SOUSA	MEMBER	1.00	Director	$0	$0	$0
RICHARD GOUSE	MEMBER	1.00	Director	$0	$0	$0
CRYSTAL WILLIAMS	MEMBER	1.00	Director	$0	$0	$0
IOANNIS MIAOULIS	MEMBER	1.00	Director	$0	$0	$0
DANIEL EGAN	PRESIDENT	40.00	Officer	$250,789	$71,422	$322,211

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	No data	No data	No data	No data
2024	$615,942	$594,593	$398,511	$21,349
2023	$561,436	$559,823	$505,028	$1,613
2022	$554,368	$528,680	$300,102	$25,688
2021	$520,730	$468,036	$247,940	$52,694
2020	$493,545	$438,709	$308,394	$54,836
2019	$499,174	$439,510	$376,884	$59,664

ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES OF RHODE ISLAND