RI HOSPITALITY ASSOCIATION

EIN: 050399474

CRANSTON, RI

Total Revenue
$1,935,434
Total Expenses
$1,865,045
Total Assets
$2,901,112
Net Assets
$1,291,493
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
RI
Principal Officer
FAROUK RAJAB
Phone
4012231120
Tax Period
2023-01-01 to 2023-12-31

RI HOSPITALITY ASSOCIATION, founded in 1963, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $1.9M left a modest 4% surplus.

Mission

TO DEVELOP AND PROVIDE PROGRAMS, SERVICES AND SUPPORT TO MEMBERS BY PROTECTING THEIR INTERESTS, PROMOTING INDUSTRY PARTNERSHIPS, AND PROVIDING EDUCATION AND LEADERSHIP SUCH THAT MEMBERS RECEIVE A DEFINABLE RETURN ON THEIR INVESTMENT.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $52,972
Program Service Revenue $1,794,031
Investment Income $79,441
Other Revenue $8,990
TOTAL REVENUE $1,935,434

Expense Breakdown

Grants Paid $461,520
Salaries & Benefits $845,884
Fundraising Expenses $0
Other Expenses $557,641
TOTAL EXPENSES $1,865,045

Year-over-Year Comparison

2023 2022 Change
Revenue $1,935,434 $2,299,917 -0.2%
Expenses $1,865,045 $2,050,637 -0.1%
Net Income $70,389 $249,280 -0.7%
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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Governance

Voting Members
21
Independent Members
21
Employees
9
Volunteers
12

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
6
$526,429
Total Directors
31
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM KITSILIS CHAIRMAN 1.00
Officer Director
$0 $0 $0
DAVID SMILEY VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
COLIN GEOFFROY TREASURER 1.00
Officer Director
$0 $0 $0
ANTHONY PELLEGRINO SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL VUOLO DIRECTOR 1.00
Director
$0 $0 $0
BRIAN CASEY DIRECTOR 1.00
Director
$0 $0 $0
DAVID DEPETRILLO DIRECTOR 1.00
Director
$0 $0 $0
TR MCGRATH DIRECTOR 1.00
Director
$0 $0 $0
WALTER ANDREWS DIRECTOR 1.00
Director
$0 $0 $0
CHARLIE HOLDER DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM DESSELL DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER LUXMOORE DIRECTOR 1.00
Director
$0 $0 $0
KEITH MORRIS DIRECTOR 1.00
Director
$0 $0 $0
RANDY NASON DIRECTOR 1.00
Director
$0 $0 $0
ADONIRAM SIDES DIRECTOR 1.00
Director
$0 $0 $0
KEVIN GAUDREAU DIRECTOR 1.00
Director
$0 $0 $0
KERRI BATTISTA DIRECTOR 1.00
Director
$0 $0 $0
JANE BRETT DIRECTOR 1.00
Director
$0 $0 $0
FRANK DIBIASE III DIRECTOR 1.00
Director
$0 $0 $0
KEVIN HURLEY DIRECTOR 1.00
Director
$0 $0 $0
AARON MESSINA DIRECTOR 1.00
Director
$0 $0 $0
H ROBERT BACON PAST CHAIRMAN OF THE BOARD 1.00
Director
$0 $0 $0
CRAIG SCULOS PAST CHAIRMAN OF THE BOARD 1.00
Director
$0 $0 $0
KEN CUSSON PAST CHAIRMAN OF THE BOARD 1.00
Director
$0 $0 $0
FAROUK RAJAB PAST CHAIRMAN OF THE BOARD (TO 8/23) 1.00
Director
$0 $0 $0
LEN PANAGGIO HONORARY 1.00
Director
$0 $0 $0
PETER CAFARO HONORARY 1.00
Director
$0 $0 $0
LISA M DOUCET-ALBERT EX-OFFICIO 1.00
Director
$0 $0 $0
NORMAN LEBLANC EX-OFFICIO 1.00
Director
$0 $0 $0
THOMAS J REGAN EX-OFFICIO 1.00
Director
$0 $0 $0
WILLIAM MURPHY EX-OFFICIO 1.00
Director
$0 $0 $0
DALE VENTURINI PRESIDENT/CEO 40.00
Officer
$341,085 $21,536 $362,621
HEATHER SINGLETON CHIEF OPERATING OFFICER 40.00
Officer
$147,885 $15,923 $163,808
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 $1,935,434 $1,865,045 $2,901,112 $70,389
2022 $2,299,917 $2,050,637 $2,829,584 $249,280
2021 $1,244,024 $1,317,562 $1,943,418 $-73,538
2020 $1,492,990 $1,356,385 $1,389,005 $136,605
2019 $1,336,790 $1,220,298 $1,074,068 $116,492
2018 $1,309,277 $1,232,341 $918,922 $76,936
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