THE RHODE ISLAND COMMUNITY FOUNDATION (EIN 222604963) - 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

1916

Legal Domicile

Principal Officer

DAVID CICILLINE

Phone

4012744564

Tax Period

2023-01-01 to 2023-12-31

THE RHODE ISLAND COMMUNITY FOUNDATION, founded in 1916, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $87.7M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $102.9M exceeded revenue, resulting in a 17% operating deficit.

Mission

A COMMUNITY FOUNDATION DEDICATED TO MEETING THE NEEDS OF THE PEOPLE OF RHODE ISLAND.

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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 $42,810,300

Program Service Revenue $0

Investment Income $44,374,465

Other Revenue $516,720

TOTAL REVENUE $87,701,485

Expense Breakdown

Grants Paid $84,716,173

Salaries & Benefits $8,776,234

Fundraising Expenses $2,204,262

Program Expenses $89,868,138

Other Expenses $9,367,952

TOTAL EXPENSES $102,860,359

Year-over-Year Comparison

	2023	2022	Change
Revenue	$87,701,485	$94,559,880	-0.1%
Expenses	$102,860,359	$94,070,249	+0.1%
Net Income	$-15,158,874	$489,631	-32.0%

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

Volunteers

250

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

$1,027,137

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
G ALAN KUROSE MD MBA FACP	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
JANET ROBINSON	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL K ALLIO	DIRECTOR	1.00	Director	$0	$0	$0
CARRIE BRIDGES FELIZ MPH	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA R DUBOSE	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN D FAIN	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD O HANDY III	DIRECTOR	1.00	Director	$0	$0	$0
ANN-MARIE HARRINGTON	DIRECTOR	1.00	Director	$0	$0	$0
MEGHAN HUGHES PHD	DIRECTOR	1.00	Director	$0	$0	$0
TONY MENDEZ	DIRECTOR	1.00	Director	$0	$0	$0
THERESA MOORE	DIRECTOR	1.00	Director	$0	$0	$0
PETER R PHILLIPS	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WRIGHT	DIRECTOR	1.00	Director	$0	$0	$0
NEIL STEINBERG	PRESIDENT/CEO (THRU 5/31)	40.00	Officer	$425,004	$41,572	$466,576
DAVID CICILLINE	PRESIDENT/CEO (AS OF 6/1)	40.00	Officer	$387,540	$11,415	$398,955
JENNIFER REID	CFO/TREASURER	40.00	Officer	$297,370	$1,712	$299,082
BRIDGET BARATTA	VP OF DEVELOPMENT	40.00	Key Emp	$238,911	$35,207	$274,118
KATHLEEN MALIN	CTO/VP OF OPERATIONS	40.00	Key Emp	$222,431	$47,123	$269,554
JENNIFER PEREIRA	VP OF GRANTS & COMMUNITY INVESTMENT	40.00	Key Emp	$192,251	$52,252	$244,503
ARIANNE CORRENTE	VP OF COMMUNICATIONS & MARKETING	40.00	Key Emp	$183,248	$55,714	$238,962
ANGELA ANKOMA	VP & ED EQUITY LEADERSHIP INITIATIVE	40.00	Highest	$177,169	$56,786	$233,955
SHARON COLLIER	VICE PRESIDENT OF HUMAN RESOURCES	40.00	Highest	$188,018	$32,871	$220,889
DANIEL KERTZNER	SENIOR PHILANTHROPIC ADVISOR	40.00	Highest	$176,739	$30,750	$207,489
JILL PFITZENMAYER	VP OF CAPACITY BUILDING	40.00	Highest	$160,169	$38,654	$198,823
CHRISTINE PELLEGRI	SENIOR PHILANTHROPIC ADVISOR	40.00	Highest	$148,353	$35,120	$183,473

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	$87,701,485	$102,860,359	$1,257,515,540	$-15,158,874
2022	$94,559,880	$94,070,249	$1,164,890,574	$489,631
2021	$194,702,159	$86,255,256	$1,346,682,058	$108,446,903
2020	$101,831,307	$87,764,346	$1,115,655,250	$14,066,961
2020	$101,831,307	$87,764,346	$1,115,655,250	$14,066,961
2019	$90,361,227	$67,128,612	$1,011,786,707	$23,232,615

THE RHODE ISLAND COMMUNITY FOUNDATION