RHODE ISLAND PUBLIC RADIO

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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

1997

Legal Domicile

Principal Officer

GINA MCDONALD

Phone

4013512800

Tax Period

2023-07-01 to 2024-04-30

RHODE ISLAND PUBLIC RADIO, founded in 1997, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $3.8M exceeded revenue, resulting in a 22% operating deficit.

Mission

TO PROVIDE QUALITY JOURNALISM AND COMPELLING STORYTELLING THAT INFORMS, EDUCATES, AND INSPIRESCOMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $2,437,504 Revenue: $866,546

2023 WAS A YEAR OF CONTINUED DEVELOPMENT OF DEEPER LOCAL JOURNALISM THROUGH BROADCAST, DIGITAL AND IN PERSON PLATFORMS. HIGHLIGHTS INCLUDED: 1) COMPLETION OF OUR INVESTIGATIVE PROJECT IN PARTNERSHIP WITH FRONTLINE'S LOCAL JOURNALISM FELLOWSHIP PROGRAM AT WGBH. 2)CONTINUED INVESTMENT IN ENTERPRISE AND INVESTIGATIVE JOURNALISM. 3)THE HIRING OF A METRO DESK REPORTER, COVERING THE KEY COMMUNITIES OF THE GREATER PROVIDENCE AREA. 4)PARTICIPATION IN THE NATIONAL AMERICA AMPLIFIED JOURNALISM ENGAGEMENT PROJECT, WHICH WILL ADD AN IMPORTANT COMMUNITY ENGAGEMENT ELEMENT TO OUR ELECTION COVERAGE IN 2024.IN ADDITION, THE PUBLIC'S RADIO CONTINUED TO ADAPT TO CHANGING AUDIENCE HABITS, DISCUSSING WAYS TO DEVELOP STRONGER WAYS TO SERVE OUR COMMUNITIES AND BUILD AUDIENCES ACROSS MULTIPLE PLATFORMS. TO THAT END, WE LAUNCHED A NEWLY-DESIGNED WEBSITE WHICH WILL BE MORE USER FRIENDLY AND PROVIDE AN INTERACTIVE SPACE IN WHICH TO ENGAGE OUR AUDIENCES. WE ALSO BEGAN THE PROCESS OF RELOCATING OUR SOUTH COUNTY BUREAU FROM A SMALL SPACE IN THE UNITED THEATRE IN WESTERLY TO A NEARBY SPACE THAT AFFORDS GREATER OPPORTUNITY FOR IN-PERSON COMMUNITY ENGAGEMENT.

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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 $2,229,500

Program Service Revenue $866,546

Investment Income $1,043

Other Revenue $167

TOTAL REVENUE $3,097,256

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,121,104

Fundraising Expenses $601,149

Program Expenses $2,437,504

Other Expenses $1,658,428

TOTAL EXPENSES $3,779,532

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,097,256	$3,858,815	-0.2%
Expenses	$3,779,532	$4,175,212	-0.1%
Net Income	$-682,276	$-316,397	+1.2%

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

N/A

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

$258,864

Total Directors