RHODE ISLAND PUBLIC EMPLOYEES' HEALTH SERVICES FUND (EIN 050391681) - 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

1980

Legal Domicile

Principal Officer

DONALD IANNAZZI

Phone

4013311033

Tax Period

2024-01-01 to 2024-12-31

RHODE ISLAND PUBLIC EMPLOYEES' HEALTH SERVICES FUND, founded in 1980, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.3M, a strong 40% operating margin.

Mission

TO PROCURE HEALTH AND RELATED BENEFITS THROUGH COLLECTIVELY BARGAINED CONTRIBUTIONS NEGOTIATED WITH AREA MUNICIPALITIES FOR THE BENEFIT OF MUNICIPAL EMPLOYEES, THEIR FAMILIES AND DEPENDENTS.

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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 $0

Program Service Revenue $7,404,931

Investment Income $897,186

Other Revenue $0

TOTAL REVENUE $8,302,117

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,319

Fundraising Expenses $0

Other Expenses $584,253

TOTAL EXPENSES $4,984,719

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,302,117	$7,644,988	+0.1%
Expenses	$4,984,719	$4,859,144	+0.0%
Net Income	$3,317,398	$2,785,844	+0.2%

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

$217,669

Total Directors

$428,710

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RONALD COIA	CHAIRPERSON	3.00	Director	$0	$117,749	$390,793
DONALD IANNAZZI	ADMINISTRATO	20.00	Officer	$3,050	$0	$217,669
TIMOTHY WALSH	TREASURER	5.00	Director	$0	$4,327	$19,281
RIKKIE MACCARONE	TRUSTEE	3.00	Director	$0	$4,182	$18,636

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	$8,302,117	$4,984,719	$26,968,885	$3,317,398
2023	$7,644,988	$4,859,144	$23,392,259	$2,785,844
2022	$7,451,750	$5,008,314	$19,757,286	$2,443,436
2021	$8,124,294	$4,810,510	$19,350,619	$3,313,784
2020	$7,952,672	$5,813,239	$15,953,695	$2,139,433
2019	$7,715,110	$5,644,980	$13,418,092	$2,070,130
2018	$7,580,934	$6,155,495	$10,678,365	$1,425,439

RHODE ISLAND PUBLIC EMPLOYEES' HEALTH SERVICES FUND