THE DOWNCITY PARTNERSHIP 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

2001

Legal Domicile

Principal Officer

DAVID CICILLINE

Phone

4012744564

Tax Period

2023-01-01 to 2023-12-31

THE DOWNCITY PARTNERSHIP INC, founded in 2001, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $155K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $256K exceeded revenue, resulting in a 65% operating deficit.

Mission

TO SUPPORT THE REVITALIZATION OF DOWNTOWN PROVIDENCE, RI (DOWNCITY), ACTING AS A CATALYST FOR DEVELOPMENT AND NEW INITIATIVES TO BENEFIT DOWNCITY. THE ORGANIZATION WILL COORDINATE WITH THE CITY AND OTHER PUBLIC, PRIVATE, AND NONPROFIT ORGANIZATIONS, ACTING AS THE PRIMARY IMPETUS FOR REVITALIZATION EFFORTS.

Program Service Accomplishments

Program 1

Expenses: $212,387

ALL PROGRAMS RELATE TO THE REVITALIZATION OF DOWNTOWN PROVIDENCE BY PROVIDING LEADERSHIP, COORDINATION, RESOURCES, TECHNICAL ASSISTANCE AND SUPPORT.

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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 $153,251

Other Revenue $1,767

TOTAL REVENUE $155,018

Expense Breakdown

Grants Paid $212,387

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $212,387

Other Expenses $43,696

TOTAL EXPENSES $256,083

Year-over-Year Comparison

	2023	2022	Change
Revenue	$155,018	$237,998	-0.3%
Expenses	$256,083	$2,404,211	-0.9%
Net Income	$-101,065	$-2,166,213	-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	0.30	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 MPH	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 (THRU 5/23)	0.80	Officer	$0	$41,572	$466,576
DAVID CICILLINE	PRESIDENT (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	$155,018	$256,083	$2,756,943	$-101,065
2022	$237,998	$2,404,211	$2,864,610	$-2,166,213
2021	$274,748	$803,095	$5,049,682	$-528,347
2020	$168,614	$378,023	$5,704,476	$-209,409
2019	$272,740	$411,669	$5,810,515	$-138,929