THE RHODE ISLAND CHARITIES TRUST

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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

1991

Legal Domicile

Principal Officer

DAVID CICILLINE

Phone

4012744564

Tax Period

2023-01-01 to 2023-12-31

THE RHODE ISLAND CHARITIES TRUST, founded in 1991, is a small nonprofit that reported $103K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring.

Mission

TO OPERATE EXCLUSIVELY FOR EDUCATIONAL, CHARITABLE AND SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A SECTION 509(A)(3) SUPPORTING ORGANIZATION OF THE RHODE ISLAND COMMUNITY FOUNDATION BY PROVIDING SUPPORT TO THE UNITED WAY OF RHODE ISLAND.

Program Service Accomplishments

Program 1

Expenses: $84,594

AWARDING GRANTS FOR CHARITABLE PURPOSES THAT INCLUDE THE GENERAL OPERATIONS OF THE UNITED WAY OF RHODE ISLAND.

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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 $0

Investment Income $0

Other Revenue $103,440

TOTAL REVENUE $103,440

Expense Breakdown

Grants Paid $84,594

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $84,594

Other Expenses $18,508

TOTAL EXPENSES $103,102

Year-over-Year Comparison

	2023	2022	Change
Revenue	$103,440	$152,675	-0.3%
Expenses	$103,102	$175,138	-0.4%
Net Income	$338	$-22,463	-1.0%

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

$1,164,613

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
G ALAN KUROSE MD MBA FACP	BOARD CHAIR	0.80	Officer Director	$0	$0	$0
JANET ROBINSON	SECRETARY	0.30	Officer Director	$0	$0	$0
MICHAEL K ALLIO	DIRECTOR	0.30	Director	$0	$0	$0
CARRIE BRIDGES FELIZ PMH	DIRECTOR	0.30	Director	$0	$0	$0
MELISSA R DUBOSE	DIRECTOR	0.30	Director	$0	$0	$0
JONATHAN D FAIN	DIRECTOR	0.30	Director	$0	$0	$0
EDWARD O HANDY III	DIRECTOR	0.30	Director	$0	$0	$0
ANN-MARIE HARRINGTON	DIRECTOR	0.30	Director	$0	$0	$0
MEGHAN HUGHES PHD	DIRECTOR	0.30	Director	$0	$0	$0
TONY MENDEZ	DIRECTOR	0.30	Director	$0	$0	$0
THERESA MOORE	DIRECTOR	0.30	Director	$0	$0	$0
PETER R PHILLIPS	DIRECTOR	0.30	Director	$0	$0	$0
JAMES WRIGHT	DIRECTOR	0.30	Director	$0	$0	$0
NEIL STEINBERG	PRESIDENT & CEO (THRU 5/23)	0.80	Officer	$0	$41,572	$466,576
DAVID CICILLINE	PRESIDENT & CEO (AS OF 6/23)	0.80	Officer	$0	$11,415	$398,955
JENNIFER REID	TREASURER	0.80	Officer	$0	$1,712	$299,082

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	$103,440	$103,102	$15,199	$338
2022	$152,675	$175,138	$14,861	$-22,463
2021	$313,826	$341,477	$37,324	$-27,651
2020	$372,670	$323,855	$64,975	$48,815
2019	$494,024	$488,170	$16,160	$5,854