CHARTERCARE HEALTH OF RHODE ISLAND INC (EIN 921340740) - Form 990 Financial Analysis & Trantor Score

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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

2022

Legal Domicile

Principal Officer

BENJAMIN MINGLE

Phone

4042339000

Tax Period

2024-07-01 to 2025-06-30

CHARTERCARE HEALTH OF RHODE ISLAND INC, founded in 2022, is a small nonprofit in the Health Care sector that reported $433K in total revenue in fiscal year 2024. Expenses of $371K left a modest 14% surplus.

Mission

THE MISSION OF THE CORPORATION SHALL BE TO OWN AND OPERATE A SYSTEM COMPRISING OF ONE (1) OR MORE SUBSIDIARY ORGANIZATIONS OPERATING AS NONPROFIT, TAX-EXEMPT HEALTHCARE PROVIDERS, INCLUDING INITIALLY THE HOSPITALS, SUBSIDIARY ORGANIZATIONS AND AFFILIATE ORGANIZAIONS OPERATING VARIOUS VENTURES THAT DELIVER HEALTH CARE SERVICES TO THE RESIDENTS OF THE SYSTEM'S SERVICE AREA IN PROVIDENCE, RHODE ISLAND AND THE SURROUNDING COMMUNITIES. AS DIRECTED BY THE CORPORATION, THE HOSPITALS, THE SUBSIDIARY ORGANIZATIONS, AND THE AFFILIATE ORGANIZATIONS THAT MAKE UP THE SYSTEM SHALL PROVIDE NECESSARY HEALTH CARE SERVICES TO ALL PERSONS REQUIRING SAME, IRRESPECTIVE OF THE PERSON'S ABILITY TO PAY, CONSISTENT WITH SYSTEM POLICIES.

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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 $432,683

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $432,683

Expense Breakdown

Grants Paid $0

Salaries & Benefits $367,022

Fundraising Expenses $0

Other Expenses $4,336

TOTAL EXPENSES $371,358

Year-over-Year Comparison

	2024	2023	Change
Revenue	$432,683	N/A	N/A
Expenses	$371,358	N/A	N/A
Net Income	$61,325	$0	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

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

$1,109,206

Total Directors

$884,206

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENJAMIN MINGLE	DIRECTOR & CHAIR	5.00	Officer Director	$0	$58,815	$574,647
GREGORY GROVE	DIRECTOR, VC, SEC/TREAS	1.00	Officer Director	$0	$24,226	$309,559
JEFFREY LIEBMAN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID RAGOSTA	CFO	40.00	Officer	$225,000	$0	$225,000

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	$432,683	$371,358	$61,325	$61,325

CHARTERCARE HEALTH OF RHODE ISLAND INC