OCEAN STATE RESEARCH INSTITUTE INC

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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

1988

Legal Domicile

Principal Officer

SATISH SHARMA MD

Phone

4014573066

Tax Period

2024-10-01 to 2025-09-30

OCEAN STATE RESEARCH INSTITUTE INC, founded in 1988, is a community nonprofit in the Medical Research sector that reported $8.3M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $8.0M left a modest 4% surplus.

Mission

THE PURPOSE OF OSRI IS TO ADVANCE THE RESEARCH MISSION OF THE DEPARTMENT OF VETERANS AFFAIRS THROUGH THE SUPPORT OF RESEARCH AND EDUCATIONAL RELATED ACTIVITIES AT THE PROVIDENCE VA MEDICAL CENTER. COLLABORATIVE RESEARCH AND EDUCATIONAL ENDEAVORS MAY BE ESTABLISHED WITH UNIVERSITIES, FOR-PROFIT COMPANIES, HOSPITALS, CHARITABLE FOUNDATIONS, PROFESSIONAL SOCIETIES, THE PUBLIC HEALTH SERVICE OR OTHER GOVERNMENTAL AGENCIES, AND OTHER NON-PROFIT AGENCIES.

Program Service Accomplishments

Program 1

Expenses: $7,427,778 Revenue: $8,278,316

RESEARCH & EDUCATION IS AN IMPORTANT COMPONENT OF THE PROVIDENCE VA HEALTHCARE SYSTEM'S MISSION AND PLAYS A KEY ROLE IN ENHANCING THE HEALTH CARE SERVICES PROVIDED TO RHODE ISLAND'S VETERANS. ALL...

RESEARCH & EDUCATION IS AN IMPORTANT COMPONENT OF THE PROVIDENCE VA HEALTHCARE SYSTEM'S MISSION AND PLAYS A KEY ROLE IN ENHANCING THE HEALTH CARE SERVICES PROVIDED TO RHODE ISLAND'S VETERANS. ALL PARTICIPANTS IN THE RESEARCH AND EDUCATION PROGRAMS ARE COMMITTED TO ENSURE THE HIGHEST ETHICAL AND SCIENTIFIC STANDARDS ARE MET SO RESEARCH AIMS ARE ACCOMPLISHED AND THE SAFETY AND WELL-BEING OF RESEARCH SUBJECTS, INVESTIGATORS AND OTHER EMPLOYEES ARE PROTECTED. THE VA PROVIDENCE HEALTHCARE SYSTEM RESEARCH PROGRAM IS FULLY ACCREDITED BY THE VA ACCREDITING BODY FOR HUMAN SUBJECT RESEARCH AND BY THE AAALAC FOR ANIMAL RESEARCH.

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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 $8,278,316

Investment Income $67,224

Other Revenue $0

TOTAL REVENUE $8,345,540

Expense Breakdown

Grants Paid $1,536,001

Salaries & Benefits $5,128,770

Fundraising Expenses $0

Program Expenses $7,427,778

Other Expenses $1,383,744

TOTAL EXPENSES $8,048,515

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,345,540	$7,182,595	+0.2%
Expenses	$8,048,515	$6,995,426	+0.2%
Net Income	$297,025	$187,169	+0.6%

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

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

$134,792

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SATISH SHARMA MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
KENNETH POYTON	TREASURER	0.25	Officer Director	$0	$0	$0
LAWRENCE CONNELL	DIRECTOR	0.25	Director	$0	$0	$0
ANNMARIE DUNICAN MD	DIRECTOR	0.25	Director	$0	$0	$0
GAURAV CHOUDHARY MD	DIRECTOR	0.25	Director	$0	$0	$0
MATTHEW JANKOWICH MD	DIRECTOR	0.25	Director	$0	$0	$0
WEN-CHIH WU MD	DIRECTOR	0.25	Director	$0	$0	$0
SHARON ROUNDS MD	DIRECTOR	0.25	Director	$0	$0	$0
WILLIAM O'GARA	DIRECTOR	0.25	Director	$0	$0	$0
DANIEL O'HARA	DIRECTOR	0.25	Director	$0	$0	$0
MARY FORD	EXECUTIVE DIRECTOR	40.00	Officer	$134,792	$0	$134,792
JOSHUA KEPLER	CLINICAL MONITOR	40.00	Highest	$118,680	$8,407	$127,087
SHERONDA PEEPLES	SR. PROJECT MANAGER	40.00	Highest	$123,772	$6,189	$129,961
MARYAM RAHAFROOZ	DATA SCIENTIST	40.00	Highest	$135,502	$20,123	$155,625
HONGWEI YAO	RESEARCH BIOLOGIST	40.00	Highest	$122,809	$5,664	$128,473

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	$8,345,540	$8,048,515	$3,402,054	$297,025
2024	$7,182,595	$6,995,426	$3,353,783	$187,169
2023	$5,983,699	$5,893,664	$2,727,296	$90,035
2022	$5,112,381	$5,102,442	$2,864,500	$9,939
2021	$5,426,821	$5,242,707	$1,494,391	$184,114
2020	$5,415,457	$5,489,627	$1,527,090	$-74,170
2019	$6,544,407	$6,275,145	$1,502,501	$269,262
2018	$4,591,808	$4,584,606	$1,064,594	$7,202