RITA FOUNDATION

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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

2005

Legal Domicile

Principal Officer

AZAR DELPASSAND

Phone

7137816200

Tax Period

2024-01-01 to 2024-12-31

RITA FOUNDATION, founded in 2005, is a micro nonprofit that reported $8K in total revenue in fiscal year 2024. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $16K exceeded revenue, resulting in a 99% operating deficit.

Mission

MEDICAL RESEARCH IN THE AREA OF THERAPEUTIC MEDICINE AND PROVIDE CANCER SCREENING THROUGH MAMMOGRAM.

Program Service Accomplishments

Program 1

Expenses: $16,065

MEDICAL RESEARCH IN THE AREA OF THERAPEUTIC MEDICINE.

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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 $8,071

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $8,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $16,065

Other Expenses $16,065

TOTAL EXPENSES $16,065

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,071	$89,083	-0.9%
Expenses	$16,065	$890,579	-1.0%
Net Income	$-7,994	$-801,496	-1.0%

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

N/A

Volunteers

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
AZAR DELPASSAND	PRESIDENT	1.00	Officer Director	$0	$0	$0
NASRIN HAKIM	VP / TREASURER	1.00	Director	$0	$0	$0
SUSAN CORK	SECRETARY	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	$8,071	$16,065	No data	$-7,994
2023	$89,083	$890,579	$7,994	$-801,496
2022	$57,043	$48,791	$809,490	$8,252
2021	$31,585	$286,186	$801,239	$-254,601
2020	$243,438	$433,433	$1,055,860	$-189,995
2019	$401,600	$864,158	$1,245,854	$-462,558
2018	$119,726	$271,340	$1,708,393	$-151,614
2017	$377,616	$279,040	$1,860,007	$98,576