RHODE ISLAND BLACK BUSINESS ASSOCI… - Form 990 Financial Data

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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

2011

Legal Domicile

Principal Officer

LISA RANGLIN

Phone

4013831179

Tax Period

2023-01-01 to 2023-12-31

RHODE ISLAND BLACK BUSINESS ASSOCIATION, founded in 2011, is a community nonprofit in the Community Improvement sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum. The organization ran a surplus of $418K, a strong 27% operating margin.

Mission

The RI Black Business Association is dedicated to advancing the opportunity and vitality of black and minority businesses and professionals through access to capital, business development resources, entrepeneur training business advocacy and workforce development.

Program Service Accomplishments

Program 1

Expenses: $310,326 Revenue: $310,326

Program and services designed to help black businesses grow with one-on-one business development assistance.

Program 2

Expenses: $224,591 Revenue: $224,591

Career development: Initiative focused on supporting young adults on their academic & career journey through access to mentors, financial literacy, scholarship and skills training.

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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 $1,142,128

Program Service Revenue $394,680

Investment Income $30,734

Other Revenue $10,287

TOTAL REVENUE $1,577,829

Expense Breakdown

Grants Paid $0

Salaries & Benefits $726,223

Fundraising Expenses $77,985

Program Expenses $534,917

Other Expenses $347,035

TOTAL EXPENSES $1,159,570

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,577,829	$986,623	+0.6%
Expenses	$1,159,570	$798,585	+0.5%
Net Income	$418,259	$188,038	+1.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
na	na	N/A		$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	$1,577,829	$1,159,570	$2,071,761	$418,259
2022	$986,623	$798,585	$1,433,712	$188,038
2021	$497,184	$451,503	$398,537	$45,681

RHODE ISLAND BLACK BUSINESS ASSOCIATION