Association of Independent Colleges and Universities of Rhode Island

Nonprofit profile at a glance

EIN
050380940
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009, Form 990-T 2024
Location
Providence, RI, USA
Phone
4012728270
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$646,789
Expenses
$563,914
Assets
$587,484
Liabilities
$366,917

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • DANIEL EGAN (PRESIDENT)

Highest reported compensation

  • DANIEL EGAN (PRESIDENT): $352,370 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Interpret for the general public the role and contributions of independent institutions of higher learning in Rhode Island; serve as a central source of information for approriate public and privateagencies, as well as the general public.

What it reported doing in 2024

Collected, accumulated and disseminated information and data to the eight memeber institution independent colleges and universities in the state of Rhode Island. Communicated with individuals, organizations, and the general public to explain the contributions and impact of the eight independent higher education institutions, educational, social, cultural, and economic benefits to the people of Rhode Island and pursued appropriate partnerships to do so. Worked cooperatively and collaboratively with other institutions to assist in meeting the social, educational and health needs. Particularly of school children in the city of providence and throughtout the entire state.

Operating model

Revenue model
Membership-supported. 86% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 66
  • Accountability: 69
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.5%; rating input score 77
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.8%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 62.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -2.7% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 77.5% of revenue deployed · 88.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $497K in reported program spending
  • Leadership: top reported pay $352K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.