RIMTA FOUNDATION

EIN: 823979153 501(c)(3) Community Improvement

NEWPORT, RI

Total Revenue
N/A
Total Expenses
$25,916
Total Assets
$12,306
Net Assets
$12,306
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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
2018
Legal Domicile
RI
Principal Officer
BRIAN DURSI
Phone
4013969619
Tax Period
2023-10-01 to 2024-09-30

Mission

ENHANCING RHODE ISLAND MARINE TRADE INDUSTRY IN A SUSTAINABLE AND EQUITABLE WAY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $24,382
Other Expenses $25,916
TOTAL EXPENSES $25,916

Year-over-Year Comparison

2023 2022 Change
Revenue N/A $51,050 -1.0%
Expenses $25,916 $34,770 -0.3%
Net Income N/A $16,280 N/A
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

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
6

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
4
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT LEDUC PRESIDENT & DIRECTOR 0.25
Officer Director
$0 $0 $0
RAY LEBLANC VICE PRESIDENT & DIRECTOR 0.25
Officer Director
$0 $0 $0
PAUL HARDEN TREASURER & DIRECTOR 0.25
Officer Director
$0 $0 $0
JAY FRECHETTE SECRETARY & DIRECTOR 0.25
Officer Director
$0 $0 $0
RICHARD CROMWELL DIRECTOR 0.25
Director
$0 $0 $0
JOHN TREGENZA PAST PRESIDENT & DIRECTOR 0.25
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 No data $25,916 $12,306 No data
2023 $51,050 $34,770 $43,224 $16,280
2022 $25,000 $133,376 $52,975 $-108,376
2021 $245,269 $148,923 $140,837 $96,346
2020 $202,150 $164,539 $66,294 $37,611
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