Rhode Island Fishermen's Future Viability Trust 2 (South Fork Project) (EIN 922761416) - 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

2023

Legal Domicile

Principal Officer

Christopher Lee

Phone

4019964894

Tax Period

2023-01-01 to 2023-12-31

Rhode Island Fishermen's Future Viability Trust 2 (South Fork Project), founded in 2023, is a community nonprofit in the Human Services sector that reported $4.3M in total revenue in fiscal year 2023. The organization ran a surplus of $4.2M, a strong 98% operating margin.

Mission

Rhode Island Fishermen's Future Viability Trust 2 (South Fork Project), Inc. is organized to provide for compensatory mitigation and the establishment of a direct compensation program as required in the agreement regarding the establishment and funding of the Rhode Island Fisheries direct compensation program and coastal community fund dated June 30, 2021, between South Fork Wind, LLC and the Rhode Island Coastal Resources Management Council.

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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 $4,250,000

Program Service Revenue $0

Investment Income $21,869

Other Revenue $0

TOTAL REVENUE $4,271,869

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $74,964

Other Expenses $74,964

TOTAL EXPENSES $74,964

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,271,869	N/A	N/A
Expenses	$74,964	N/A	N/A
Net Income	$4,196,905	N/A	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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christopher Lee	Director	1.00	Director	$0	$0	$0
Michael Marchetti	Director	1.00	Director	$0	$0	$0
Richard Bellavance Jr	Director	1.00	Director	$0	$0	$0
Anne Hawkins	Director	1.00	Director	$0	$0	$0
Spencer Seitz	Director	1.00	Director	$0	$0	$0
Katie Almeida	Director	1.00	Director	$0	$0	$0
Michael Marchetti	Director	1.00	Director	$0	$0	$0
Frederick Mattera	Director	1.00	Director	$0	$0	$0
Christopher Lee	President	1.00	Officer	$0	$0	$0
Michael Marchetti	Vice President	1.00	Officer	$0	$0	$0
Richard Bellavance Jr	Vice President	1.00	Officer	$0	$0	$0
Anne Hawkins	Vice President	1.00	Officer	$0	$0	$0
Spencer Seitz	Secretary	1.00	Officer	$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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$4,271,869	$74,964	$4,206,144	$4,196,905

Rhode Island Fishermen's Future Viability Trust 2 (South Fork Project)