THE RHODE ISLAND FREE CLINIC INC (EIN 050501276) - 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

1998

Legal Domicile

Principal Officer

CARRIE BRIDGES FELIZ MPH

Phone

4012746347

Tax Period

2023-01-01 to 2023-12-31

THE RHODE ISLAND FREE CLINIC INC, founded in 1998, is a community nonprofit in the Health Care sector that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $1.9M left a modest 13% surplus.

Mission

THE RHODE ISLAND FREE CLINIC (RIFC) PROVIDES COMPREHENSIVE AND HIGH-QUALITY HEALTHCARE SERVICES TO UNINSURED ADULTS RESIDING IN RHODE ISLAND. IT ALSO SERVES AS A TRAINING SIRE FOR ASPIRING HEALTHCARE PROFESSIONAL. IN 2023, 522 VOLUNTEERS AND COMMUNITY PARTNERS SERVED 1,877 PATIENTS THROUGH 8,474 PATIENT VISITS AND ENCOUNTERS, AND OVER 150 TRAINEES PERFORMED 5,003 HANDS-ON TRAINING HOURS.

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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 $1,888,529

Program Service Revenue $0

Investment Income $25,569

Other Revenue $285,319

TOTAL REVENUE $2,199,417

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,204,335

Fundraising Expenses $171,871

Program Expenses $1,572,281

Other Expenses $706,156

TOTAL EXPENSES $1,910,491

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,199,417	$1,622,642	+0.4%
Expenses	$1,910,491	$1,793,485	+0.1%
Net Income	$288,926	$-170,843	-2.7%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

522

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

$201,667

Total Directors

$27,857

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM FITZGERALD	PRESIDENT EMERITUS	1.00	Officer Director	$0	$0	$0
JEFFREY CHASE LUBITZ ESQ	SECRETARY	1.00	Officer Director	$0	$0	$0
CARRIE BRIDGES FELIZ MPH	PRESIDENT	1.00	Officer Director	$0	$0	$0
CAROLINE TROISE MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHELE LEDERBERG ESQ	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PATRICK MARTIN CPA	TREASURER	1.00	Officer Director	$0	$0	$0
JERRY FINGERUT MD	BOARD MEMBER	1.00	Director	$0	$0	$0
LOREE DUBOIS	BOARD MEMBER	1.00	Director	$0	$0	$0
SAMUEL BRADNER	BOARD MEMBER	1.00	Director	$0	$0	$0
HERBERT RAKATANSKY MD FACG	BOARD MEMBER	1.00	Director	$0	$0	$0
PHILIP R RIZZUTO MD	BOARD MEMBER	1.00	Director	$0	$0	$0
JEHANNE BJORNBYE ESQ	BOARD MEMBER	1.00	Director	$0	$0	$0
GEORGE GREER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH PERRONI	BOARD MEMBER	1.00	Director	$0	$0	$0
MELINDA DELANEY MD	VOLUNTEER MEDICAL DIRECTOR	1.00	Director	$0	$0	$0
DIANA DUCHARME ESQ	BOARD MEMBER	1.00	Director	$0	$0	$0
TRAVIS ESCOBAR	BOARD MEMBER	1.00	Director	$0	$0	$0
RILWAN FEYISITAN JR	BOARD MEMBER	1.00	Director	$0	$0	$0
BRENDAN KANE	BOARD MEMBER	1.00	Director	$0	$0	$0
MARINA RODRIGUEZ MD	BOARD MEMBER	1.00	Director	$27,857	$0	$27,857
FORREST A DANIELS MPA DSC FACHE	CHIEF EXECUTIVE OFFICER UNTIL MARCH 2024	40.00	Officer	$186,875	$14,792	$201,667

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	$2,199,417	$1,910,491	$3,018,924	$288,926
2022	$1,622,642	$1,793,485	$2,312,863	$-170,843
2021	$2,058,658	$1,706,889	$2,540,511	$351,769
2020	$1,875,636	$1,436,144	$2,254,684	$439,492
2019	$1,243,214	$1,326,915	$1,675,972	$-83,701
2018	$1,241,073	$1,183,193	$1,766,164	$57,880

THE RHODE ISLAND FREE CLINIC INC