Partnership for Rhode Island

Nonprofit profile at a glance

EIN
814717112
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4012474007
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$1,742,641
Expenses
$1,301,855
Assets
$2,045,286
Liabilities
$357,609

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

Leadership & pay

18 people listed

Executive titles in this filing

  • JOHN FERNANDEZ (PRESIDENT (AS OF 12/24))
  • JOHN GALVIN (PRESIDENT (TO 12/24))
  • THOMAS GILBANE (VICE PRESIDENT)
  • THOMAS GIORDANO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • THOMAS GIORDANO (EXECUTIVE DIRECTOR): $285,231 total reported compensation

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

Overview

Mission

The corporation will bring together chief executive officers from ri leading businesses and institutions to bring about civic betterments, tackle system issues and achieve lasting improvement in the state's economy in collaboration with public officials and business civic leaders

What it reported doing in 2024

The compete ri program built a statewide function to apply for federal funding that is free of charge for state government, cities and towns and nonprofit organizations.

Operating model

Revenue model
Earned-program. 80% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 87% 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 79
  • Accountability: 91
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.6%; rating input score 63
  • Program expense ratio: 84.8%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.5%; rating input score 96; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.3%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.3%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 1.57; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 21.9%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 62.6% of revenue deployed · 84.8% of spending went to programs
  • Governance: 14 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $285K · 18 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $198K reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.