RHODE ISLAND QUALITY INSTITUTE

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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

2001

Legal Domicile

Principal Officer

INDRA NEIL SARKAR

Phone

4012769141

Tax Period

2023-01-01 to 2023-12-31

RHODE ISLAND QUALITY INSTITUTE, founded in 2001, is a community nonprofit in the Health Care sector that reported $10.0M in total revenue in fiscal year 2023.

Mission

TO REPRESENT EVERY CONSTITUENCY OF HEALTHCARE LEADERSHIP, AS WELL AS HEALTH INSURANCE, CONSUMER AND PUBLIC INTEREST. TO WORK COLLABORATIVELY, COME UP WITH INNOVATIVE SOLUTIONS, CHAMPION CHANGES THROUGHOUT OUR ORGANIZATIONS, AND DEDICATE TIME, MONEY AND EXPERTISE TO IMPROVE THE QUALITY OF HEALTHCARE.

Program Service Accomplishments

Program 1

Expenses: $6,554,693 Revenue: $8,358,145

HEALTH INFORMATION EXCHANGE - THIS PROGRAM LEADS A COMMUNITY-BASED EFFORT TO DESIGN, DEVELOP AND CONTINUE ONGOING EXPANSION OF A STATEWIDE HEALTH INFORMATION EXCHANGE (HIE). THE HIE IS A SECURE...

HEALTH INFORMATION EXCHANGE - THIS PROGRAM LEADS A COMMUNITY-BASED EFFORT TO DESIGN, DEVELOP AND CONTINUE ONGOING EXPANSION OF A STATEWIDE HEALTH INFORMATION EXCHANGE (HIE). THE HIE IS A SECURE, CONFIDENTIAL WAY TO MAKE INFORMATION ACCESSIBLE TO APPROPRIATE PARTIES.

Program 2

Expenses: $449,079 Revenue: $620,957

INNOVATION - THE GOAL OF THIS PROGRAM AT THE INSTITUTE IS TO BE A TRUSTED ENABLER OF DATA-DRIVEN DECISION-MAKING FOR HEALTH AND HEALTHCARE STATEWIDE. THIS IS ACHIEVED BY SUPPORTING HEALTH AND HIGH...

INNOVATION - THE GOAL OF THIS PROGRAM AT THE INSTITUTE IS TO BE A TRUSTED ENABLER OF DATA-DRIVEN DECISION-MAKING FOR HEALTH AND HEALTHCARE STATEWIDE. THIS IS ACHIEVED BY SUPPORTING HEALTH AND HIGH QUALITY COST-EFFECTIVE PATIENT AND FAMILY-CENTERED HEALTHCARE, BY DELIVERING ACCURATE COMPREHENSIVE TIMELY REPORTS AND ANALYSES TO DRIVE INFORMED DECISIONS BY THE KEY STAKEHOLDERS IN THE COMMUNITY, INCLUDING PATIENTS, PROVIDERS OF CARE, PAYERS, POLICY MAKERS, AND BUSINESSES. THE PROGRAM MANAGES, AGGREGATES AND TRANSFORMS DISPARATE DATA INTO ACTIONABLE INFORMATION, UNCOVERING PATTERNS, CORRELATIONS AND UNIQUE INSIGHTS CRITICAL TO THE TRANSFORMATION OF THE HEALTHCARE SYSTEM AND SUPPORTING DATA DRIVEN PARADIGMS TO ENABLE THE QUADRUPLE AIM.

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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 $1,018,121

Program Service Revenue $8,979,102

Investment Income $0

Other Revenue $0

TOTAL REVENUE $9,997,223

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,865,275

Fundraising Expenses $0

Program Expenses $7,003,772

Other Expenses $6,027,019

TOTAL EXPENSES $9,892,294

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,997,223	$9,506,703	+0.1%
Expenses	$9,892,294	$9,451,087	+0.0%
Net Income	$104,929	$55,616	+0.9%

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

$419,364

Total Directors

$240,376

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANA FRANCHITTO	DIRECTOR	2.00	Director	$0	$0	$0
JEANNE LACHANCE	SECRETARY/TREASURER (FROM 06/23)	2.00	Officer Director	$0	$0	$0
MUKESH JAIN MD	DIRECTOR	2.00	Director	$0	$0	$0
FORREST DANIELS DSC	DIRECTOR	2.00	Director	$0	$0	$0
PHILIP BARR	DIRECTOR	2.00	Director	$0	$0	$0
ANA NOVAIS	DIRECTOR (TO 05/23)	2.00	Director	$0	$0	$0
STEVEN LAMPERT MD	DIRECTOR (TO 03/23)	2.00	Director	$0	$0	$0
BARBARA WOLFEPHD TO 0523	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
MARTHA WOFFORD	DIRECTOR	2.00	Director	$0	$0	$0
AARON ROBINSON	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH PERRONI	DIRECTOR	2.00	Director	$0	$0	$0
PETER M MARINO	CHAIR	2.00	Officer Director	$0	$0	$0
MICHAEL WAGNER MD	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY ARCHER	DIRECTOR	2.00	Director	$0	$0	$0
MARIE GHAZAL DNP	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD GAMACHE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL SOUZA	DIRECTOR	2.00	Director	$0	$0	$0
NOAH BENEDICT	DIRECTOR	2.00	Director	$0	$0	$0
JAMES D BERSON	DIRECTOR	2.00	Director	$0	$0	$0
CORY KING	DIRECTOR	2.00	Director	$0	$0	$0
INDRA NEIL SARKAR PHD	PRESIDENT & CEO	40.00	Officer Director	$240,376	$0	$240,376
RICHARD CHAREST	DIRECTOR	2.00	Director	$0	$0	$0
HOLLY STARK	SENIOR DIRECTOR FINANCE & OPERATIONS	40.00	Officer	$162,351	$16,637	$178,988
STEVE BOREK	PRINCIPAL SOLUTIONS ARCHITECT	40.00	Highest	$150,147	$16,091	$166,238
DARLENE MORRIS	SENIOR DIRECTOR, PROGRAMS	40.00	Highest	$148,974	$28,570	$177,544
CHARLES DANSEREAU	DIRECTOR OF IT	40.00	Highest	$175,891	$32,525	$208,416
SCOTT YOUNG	SENIOR DIRECTOR PRODUCT ST	40.00	Highest	$153,872	$22,379	$176,251
HARI RONGALI	HEALTH DATA ENGINEER, II	40.00	Highest	$122,579	$664	$123,243

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$9,997,223	$9,892,294	$7,993,746	$104,929
2022	$9,506,703	$9,451,087	$7,836,694	$55,616
2021	$10,854,721	$8,945,946	$6,291,309	$1,908,775
2020	$9,587,458	$9,034,189	$4,765,375	$553,269
2019	$11,023,312	$10,228,870	$3,342,529	$794,442
2018	$11,983,815	$11,451,734	$2,772,084	$532,081