RHODE ISLAND VETERINARY MEDICAL AS… - 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

1962

Legal Domicile

Principal Officer

RALPH PRATT DVM

Phone

4017510944

Tax Period

2023-01-01 to 2023-12-31

RHODE ISLAND VETERINARY MEDICAL ASSOCIATION, founded in 1962, is a small nonprofit that reported $294K in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $272K left a modest 7% surplus.

Mission

EDUCATION AND INFORMATION SHARING FOR VETERINARIANS AND THE GENERAL PUBLIC THROUGH NEWSLETTERS, SEMINARS AND CONVENTIONS AS WELL AS RABIES CLINICS

Program Service Accomplishments

Program 1

Expenses: $146,743 Revenue: $223,146

EDUCATION AND INFORMATION SHARING FOR VETERINARIANS AND THE GENERAL PUBLIC THROUGH NEWSLETTERS, SEMINARS AND CONVENTIONS AS WELL AS RABIES CLINICS

Program 2

Expenses: $5,084 Revenue: $7,893

RABIES CLINICS

Program 3

Revenue: $52,620

DUES

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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 $0

Program Service Revenue $275,609

Investment Income $10,381

Other Revenue $8,050

TOTAL REVENUE $294,040

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $24,000

Program Expenses $151,827

Other Expenses $272,081

TOTAL EXPENSES $272,081

Year-over-Year Comparison

	2023	2022	Change
Revenue	$294,040	$245,990	+0.2%
Expenses	$272,081	$248,183	+0.1%
Net Income	$21,959	$-2,193	-11.0%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RALPH PRATT DVM	Treasurer	2.00	Officer Director	$0	$0	$0
SHELLY PANCOAST	President	2.00	Officer Director	$0	$0	$0
JOYCE GIFFORD	PRESIDENT ELECT	2.00	Officer Director	$0	$0	$0
HOLLY BROWN	Secretary	2.00	Officer Director	$0	$0	$0
TED WHITE	Director	2.00	Director	$0	$0	$0
CATHY LUND	Director	2.00	Director	$0	$0	$0
ANNE MERLEY	Director	2.00	Director	$0	$0	$0
CHRISTOPHER HANNAFIN	Director	2.00	Director	$0	$0	$0
KATEE LOMONACO DVM	PAST PRESIDENT	2.00	Director	$0	$0	$0
SARAH MERCURIO	Director	2.00	Director	$0	$0	$0
CATHERINE MALGIERI	Director	2.00	Director	$0	$0	$0
TIA MENESES	Director	2.00	Director	$0	$0	$0
COURTNEY REBENSDORF	Director	2.00	Director	$0	$0	$0
KATE ECHEVERRIA	Director	2.00	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	No data	No data	No data	No data
2023	$294,040	$272,081	$336,797	$21,959
2022	$245,990	$248,183	$293,458	$-2,193
2021	$227,179	$188,318	$343,179	$38,861
2020	$69,637	$128,978	$312,482	$-59,341
2019	$330,712	$277,338	$348,832	$53,374
2018	$314,689	$299,185	$267,318	$15,504

RHODE ISLAND VETERINARY MEDICAL ASSOCIATION