RHODE ISLAND LABORERS HEALTH FUND

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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

1954

Legal Domicile

Principal Officer

MICHAEL F SABITONI

Phone

4019428690

Tax Period

2023-01-01 to 2023-12-31

RHODE ISLAND LABORERS HEALTH FUND, founded in 1954, is a mid-sized nonprofit that reported $35.1M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Net assets of $84.0M represent 29 months of operating reserves.

Mission

TO PROVIDE HEALTH, DENTAL, LIFE AND DISABILITY COVERAGE TO QUALIFIED PARTICIPANTS.

Program Service Accomplishments

Program 1

Expenses: $35,876,884

PROVIDE ELIGIBLE PARTICIPANTS WITH MEDICAL, DENTAL AND LIFE AND DISABILITY COVERAGE.

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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 $34,900,631

Investment Income $170,346

Other Revenue $67,742

TOTAL REVENUE $35,138,719

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $35,876,884

Other Expenses $664,448

TOTAL EXPENSES $36,527,151

Year-over-Year Comparison

	2023	2022	Change
Revenue	$35,138,719	$32,201,057	+0.1%
Expenses	$36,527,151	$31,476,625	+0.2%
Net Income	$-1,388,432	$724,432	-2.9%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL F SABITONI	TRUSTEE	N/A	Director	$0	$0	$0
MICHAEL D'AMBRA	TRUSTEE	N/A	Director	$0	$0	$0
DONATO BIANCO	TRUSTEE	N/A	Director	$0	$0	$0
ARMAND LUSI	TRUSTEE	N/A	Director	$0	$0	$0
RAYMOND COIA	TRUSTEE	N/A	Director	$0	$0	$0
JOSEPH VITULLO	TRUSTEE	N/A	Director	$0	$0	$0
LEO K MARSHALL	TRUSTEE	N/A	Director	$0	$0	$0
MICHAEL GAMMINO	TRUSTEE	N/A	Director	$0	$0	$0

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	$35,138,719	$36,527,151	$84,901,152	$-1,388,432
2022	$32,201,057	$31,476,625	$78,505,267	$724,432
2021	$27,310,669	$30,642,668	$86,180,771	$-3,331,999
2020	$29,107,487	$29,762,894	$83,656,746	$-655,407