SKILLS FOR RHODE ISLAND'S FUTURE

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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

2016

Legal Domicile

Principal Officer

NINA PANDE

Phone

4016805960

Tax Period

2024-07-01 to 2025-06-30

SKILLS FOR RHODE ISLAND'S FUTURE, founded in 2016, is a mid-sized nonprofit in the Employment sector that reported $11.6M in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring.

Mission

SKILLS FOR RHODE ISLAND'S FUTURE MISSION IS DEDICATED TO TRANSFORM LIVES THROUGH MEANINGFUL EMPLOYMENT AND ECONOMIC MOBILITY. AS A TRUSTED COMMUNITY-BASED INTERMEDIARY, WE EMPOWER INDIVIDUALS BY DELIVERING DEMAND-DRIVEN WORKFORCE, EDUCATION, AND SMALL BUSINESS STRATEGIES THAT FOSTER UPWARD MOBILITY. THROUGH STRONG PARTNERSHIPS WITH EMPLOYERS, BUSINESS OWNERS, JOB SEEKERS, AND COMMUNITY STAKEHOLDERS, WE DEVELOP INCLUSIVE ECONOMIC STRATEGIES THAT DISMANTLE BARRIERS TO EDUCATION, EMPLOYMENT, AND BUSINESS SUCCESS. OUR COMMITMENT ENSURES THAT ALL RHODE ISLANDERSESPECIALLY THOSE FROM UNDERSERVED AND UNDERREPRESENTED COMMUNITIESHAVE EQUITABLE ACCESS TO OPPORTUNITIES THAT DRIVE LONG-TERM ECONOMIC PROSPERITY.

Program Service Accomplishments

Program 1

Expenses: $4,491,062 Revenue: $45,631

SKILLS FOR RHODE ISLAND'S FUTURE IS A WORKFORCE INTERMEDIARY THAT OFFERS JOB PLACEMENT AND JOB TRAINING SERVICES TO RI JOB SEEKERS WHO ARE UNEMPLOYED OR UNDEREMPLOYED AS PER THE DEFINITION OF THE...

SKILLS FOR RHODE ISLAND'S FUTURE IS A WORKFORCE INTERMEDIARY THAT OFFERS JOB PLACEMENT AND JOB TRAINING SERVICES TO RI JOB SEEKERS WHO ARE UNEMPLOYED OR UNDEREMPLOYED AS PER THE DEFINITION OF THE UNITED STATES DEPARTMENT OF LABOR. AS PART OF OUR JOB PLACEMENT AND TRAINING SERVICES, SKILLS FOR RHODE ISLAND'S FUTURE PROVIDES JOB COACHING, RESUME BUILDING, INTERVIEW SKILLS AND JOB PLACEMENT MATCHING SERVICES. SKILLS FOR RHODE ISLAND'S FUTURE ALSO ACTS AS AN INTERMEDIARY BETWEEN JOB SEEKERS AND EMPLOYERS TO ENSURE THAT JOB SEEKERS ARE PROVIDED A FAIR AND EQUITABLE OPPORTUNITY TO GAIN EMPLOYMENT.

Program 2

Expenses: $2,658,944

PREPARE RI INTERNSHIP PROGRAM IS A WORKBASED-LEARNING INTERNSHIP PROGRAM DESIGNED TO PROVIDE HIGH SCHOOL STUDENTS WITH REAL WORLD EXPERIENCE DURING THE SCHOOL YEAR AND OUT OF SCHOOL TIME (I.E...

PREPARE RI INTERNSHIP PROGRAM IS A WORKBASED-LEARNING INTERNSHIP PROGRAM DESIGNED TO PROVIDE HIGH SCHOOL STUDENTS WITH REAL WORLD EXPERIENCE DURING THE SCHOOL YEAR AND OUT OF SCHOOL TIME (I.E., SUMMER VACATION).

Program 3

Expenses: $3,536,430

RI SMALL BUSINESS HUB: THE SMALL BUSINESS RESOURCE HUB, ESTABLISHED AND OPERATED BY SKILLS FOR RHODE ISLAND'S FUTURE (SKILLSRI), IS A ONE-STOP RESOURCE FOR RHODE ISLAND SMALL BUSINESSES TO ACCESS A RANGE OF SHARED SERVICES ACROSS LEGAL, HUMAN RESOURCES, FINANCE, BOOKKEEPING, MARKETING, FUNDRAISING, STRATEGIC PLANNING AND MORE. WITH THE GOAL OF EMPOWERING RI SMALL BUSINESSES, PARTICULARLY DISADVANTAGED, WOMEN AND MINORITY-OWNED BUSINESSES, TO STABILIZE, STRENGTHEN AND THRIVE, THE SMALL BUSINESS RESOURCE HUB ALSO OFFERS PROFESSIONAL DEVELOPMENT WORKSHOPS, NETWORKING OPPORTUNITIES AND 1:1 BUSINESS COUNSELING AT NO COST TO THE BUSINESS. THROUGH THE SMALL BUSINESS RESOURCE HUB, SKILLSRI HOPES TO STRENGTHEN THE SMALL BUSINESS LANDSCAPE IN RHODE ISLAND AND FOSTER THE CREATION OF MORE ECONOMICALLY VIBRANT COMMUNITIES ACROSS THE STATE.

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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 $11,777,830

Program Service Revenue $45,631

Investment Income $-210,162

Other Revenue $0

TOTAL REVENUE $11,613,299

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,415,977

Fundraising Expenses $0

Program Expenses $10,686,436

Other Expenses $4,457,840

TOTAL EXPENSES $11,873,817

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,613,299	$21,900,274	-0.5%
Expenses	$11,873,817	$21,952,507	-0.5%
Net Income	$-260,518	$-52,233	+4.0%

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

500

Volunteers

217

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

$400,944

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANASTASIA BREGMANN	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON BROADBENT	DIRECTOR	1.00	Director	$0	$0	$0
SAMUEL PALMISANO	DIRECTOR (TO 9/25)	1.00	Director	$0	$0	$0
PATRICIA THOMPSON	TREASURER	2.00	Officer Director	$0	$0	$0
MARYANNE PELLAND	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE FEDERICO	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
KERI BORBA	DIRECTOR	1.00	Director	$0	$0	$0
LAURIE WHITE	SECRETARY	2.00	Officer Director	$0	$0	$0
JEFFREY LACKEY	DIRECTOR (TO 03/25)	1.00	Director	$0	$0	$0
JASON VLAUN	DIRECTOR	1.00	Director	$0	$0	$0
IMARIS VIERA VAZQUEZ	DIRECTOR (TO 06/25)	1.00	Director	$0	$0	$0
DENNIS BERGER	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN HOWARD	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER GIROUX	DIRECTOR	1.00	Director	$0	$0	$0
OLIVER ABREU	VP OF FINANCE & HR	40.00	Officer	$147,960	$14,388	$162,348
NINA PANDE	EXECUTIVE DIRECTOR	40.00	Officer	$215,972	$22,624	$238,596
MISHRI SHAH	DIRECTOR OF STRATEGY & DEVELOPMENT	40.00	Highest	$113,400	$12,028	$125,428
EDUARDO NAYA	VP OF MARKETING & COMM	40.00	Highest	$156,000	$7,068	$163,068
MELBA DEPENA AFFIGNE	VP OF ECONOMIC DEVELOPMENT	40.00	Highest	$160,000	$7,020	$167,020
THOMAS STREICHER	VP OF CLIENT & CAREER SERV	40.00	Highest	$167,400	$24,859	$192,259
TRACY DUFFAUT	SR. DIRECTOR OF ALUMNI SERVICES	40.00	Highest	$107,201	$20,163	$127,364

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	$11,613,299	$11,873,817	$4,463,434	$-260,518
2024	$21,900,274	$21,952,507	$6,813,022	$-52,233
2023	$9,181,340	$9,152,953	$2,454,695	$28,387
2022	$15,744,357	$15,717,394	$1,910,054	$26,963
2021	$11,174,331	$11,150,178	$3,601,484	$24,153
2020	$5,964,108	$5,883,973	$2,230,737	$80,135
2019	$3,498,611	$2,898,099	$988,426	$600,512