Neighborhood Health Plan of Rhode Island

Nonprofit profile at a glance

EIN
050477052
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Smithfield, RI, USA
Phone
4014596000
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Group Health Practice (Health Maintenance Organizations)

Official website

Reported finances

Revenue
$1,944,801,410
Expenses
$1,942,723,268
Assets
$471,348,536
Liabilities
$342,136,840

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

Leadership & pay

27 people listed

Executive titles in this filing

  • PETER MARINO (PRESIDENT & CEO)
  • MARK COOPER (VICE PRESIDENT OF MEDICARE/MEDICAID INTEGRATION)
  • VENT R JACKSON (VICE PRESIDENT OF CLINICAL OPERATIONS)

Highest reported compensation

  • PETER MARINO (PRESIDENT & CEO): $760,232 total reported compensation
  • KRISTEN RUSSELL (CHIEF MEDICAL OFFICER): $599,775 total reported compensation
  • DAVID BURNETT (CHIEF GROWTH OFFICER): $507,777 total reported compensation

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

Overview

Mission

Neighborhood Health Plan of Rhode Island, an innovative health plan in partnership with the Community Health Centers, secures access to high quality, cost-effective health care for Rhode Island's at-risk populations.

What it reported doing in 2024

Neighborhood health plan of Rhode Island is a non-profit health maintenance organization ("hmo") that provides high-quality, low-cost health care services on a prepaid basis principally to medicaid recipients and certain other eligible persons under state of Rhode Island managed care program, ritecare. The organization also extends its service, benefits and value to individuals and businesses through healthsource ri, the state's health insurance exchange. As of december 31, 2024, the organization is responsible for providing health care services to over 218,540 members.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Member-benefit provider. The nonprofit used 98% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 88
  • Accountability: 96
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.2%; rating input score 94
  • Program expense ratio: 94.3%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • 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: 93.8%; rating input score 94; 44th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.1%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 9% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 67th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site
  • Where the money goes: 94.2% of revenue deployed · 94.3% of spending went to programs
  • Governance: 15 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8B in reported program spending
  • Leadership: top reported pay $760K · 27 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.2B reported
  • Consistency: 44 of 44 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: 10 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.