RHODE ISLAND MEDICAL SOCIETY FOUNDATION (EIN 050401176) - 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

1983

Legal Domicile

Phone

4013313207

Tax Period

2023-01-01 to 2023-12-31

RHODE ISLAND MEDICAL SOCIETY FOUNDATION, founded in 1983, is a small nonprofit in the Health Care sector that reported $210K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $309K exceeded revenue, resulting in a 48% operating deficit.

Mission

Promote the betterment of public health by engaging in educational and charitable activities related to the field of medicine, and to support peer review activities

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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 $199,757

Program Service Revenue $0

Investment Income $9,791

Other Revenue $0

TOTAL REVENUE $209,548

Expense Breakdown

Grants Paid $5,993

Salaries & Benefits $0

Fundraising Expenses $1,000

Program Expenses $298,395

Other Expenses $303,117

TOTAL EXPENSES $309,110

Year-over-Year Comparison

	2023	2022	Change
Revenue	$209,548	$238,287	-0.1%
Expenses	$309,110	$305,810	+0.0%
Net Income	$-99,562	$-67,523	+0.5%

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

$147,500

Total Directors

$11,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTINE BROUSSEAU MD MPH	TRUSTEE	0.02	Director	$0	$0	$0
CATHERINE A CUMMINGS MD	TRUSTEE	0.02	Director	$0	$0	$0
ELIZABETH B LANGE MD	TRUSTEE	0.02	Officer Director	$0	$0	$0
THOMAS A BELDSOE MD FACP	PRESIDENT through Sept. 2023	0.10	Officer Director	$0	$0	$8,000
HEATHER SMITH	PRESIDENT start Sept. 2023	0.10	Officer Director	$0	$0	$3,000
MATTHEW SMITH MD	SECRETARY/TREAS.	0.10	Officer Director	$0	$0	$0
STACY PATERNO	EXECUTIVE VICE PRESIDENT	8.00	Officer	$0	$6,500	$136,500

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	$209,548	$309,110	$719,994	$-99,562
2022	$238,287	$305,810	$764,250	$-67,523
2021	$234,313	$264,873	$854,384	$-30,560
2020	$207,239	$214,169	$820,745	$-6,930
2019	$342,686	$212,234	$805,721	$130,452
2018	$235,686	$204,466	$648,977	$31,220

RHODE ISLAND MEDICAL SOCIETY FOUNDATION