Rhode Island Laborers Legal Services Fund (EIN 056052138) - 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

1976

Legal Domicile

Principal Officer

Donato Bianco Jr

Phone

4019428690

Tax Period

2024-01-01 to 2024-12-31

Rhode Island Laborers Legal Services Fund, founded in 1976, is a small nonprofit that reported $876K in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $157K, a strong 18% operating margin.

Mission

taxThe Plan provides legal advice and tax services to eligible Rhode Island Laborer participants, retirees, and their dependents

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $849,769

Investment Income $18,954

Other Revenue $7,160

TOTAL REVENUE $875,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $90,386

Fundraising Expenses $0

Program Expenses $459,273

Other Expenses $169,470

TOTAL EXPENSES $719,129

Year-over-Year Comparison

	2024	2023	Change
Revenue	$875,883	$714,471	+0.2%
Expenses	$719,129	$696,514	+0.0%
Net Income	$156,754	$17,957	+7.7%

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

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

$100,666

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Darren Corrente	Director	20.00	Officer	$65,877	$34,789	$100,666
Donato Bianco Jr	Trustee	2.00	Director	$0	$0	$0
Michael Sabitoni	Trustee	2.00	Director	$0	$0	$0
Michael Gammino	Trustee	2.00	Director	$0	$0	$0
Daniel Rampone	Trustee	2.00	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	$875,883	$719,129	$3,639,535	$156,754
2023	$714,471	$696,514	$3,140,585	$17,957
2022	$564,024	$690,826	$2,813,854	$-126,802
2021	$422,820	$690,522	$3,380,792	$-267,702
2020	$434,539	$657,683	$3,296,481	$-223,144

Rhode Island Laborers Legal Services Fund