Providence, RI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Multicultural Foodservice and Hospitality Alliance, founded in 1996, is a small nonprofit in the Community Improvement sector that reported $864K in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 45% operating deficit.
To provide our members with the cultural competencies, insights and skills necessary to deliver better business results in a culturally diverse marketplace. The Organization strives to bring the economic benefits of diversity and inclusion to the food and hospitality industry by building bridges and delivering solutions.
Educate, advocate and connect with membership by providing professional development and cultural intelligence training for our members and the industry, promote career and business opportunities that...
Educate, advocate and connect with membership by providing professional development and cultural intelligence training for our members and the industry, promote career and business opportunities that exist with member companies for minority and multicultural communities and connect industry professionals with each other by providing career enhancement opportunities, informal mentoring and networking.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $864,007 | $1,567,286 | -0.4% |
| Expenses | $1,250,950 | $1,265,051 | 0.0% |
| Net Income | $-386,943 | $302,235 | -2.3% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Michelle Korsmo | President & CEO | 1.00 |
Officer
Director
|
$0 | $1,301,039 | $3,857,681 |
| Shaun Beard | Chair | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| William Kohl | Vice Chair | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Carrie Leishmann | Treasurer | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Max Langenkamp | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| Jay Stieber | Director | 2.00 |
Director
|
$0 | $0 | $0 |
| Marvin Irby | CAO (until 6/15/24) | 1.00 |
Officer
|
$0 | $669,930 | $1,632,677 |
| Eric Ellis | CFO | 1.00 |
Officer
|
$0 | $107,922 | $575,256 |
| Gerald Fernandez | President | 40.00 |
Officer
|
$0 | $21,733 | $261,905 |
| Andre Howell | Vice President of Operations | 40.00 |
Highest
|
$0 | $49,995 | $202,151 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $864,007 | $1,250,950 | $1,395,283 | $-386,943 |
| 2023 | $1,567,286 | $1,265,051 | $1,654,705 | $302,235 |
| 2022 | $1,100,647 | $2,976,541 | $1,099,914 | $-1,875,894 |
| 2021 | $1,184,233 | $1,308,333 | $2,892,667 | $-124,100 |
| 2020 | $3,230,340 | $885,580 | $2,976,847 | $2,344,760 |
| 2019 | $868,012 | $1,044,152 | $368,970 | $-176,140 |
| 2018 | $911,166 | $987,807 | $433,059 | $-76,641 |
Compare Multicultural Foodservice and Hospitality Alliance with other nonprofits in Rhode Island and across the country.