Rhode Island Black Business Association

Nonprofit profile at a glance

EIN
451454867
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Providence, RI, USA
Phone
4013831179
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,895,374
Expenses
$1,397,050
Assets
$2,533,203
Liabilities
$1,276,037

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

Leadership & pay

19 people listed

Executive titles in this filing

  • LISA RANGLIN (PRESIDENT)

Highest reported compensation

  • LISA RANGLIN (PRESIDENT): $144,058 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 Rhode Island black business association (ribba) is a 501(c)(6) nonprofit organization committed to closing the racial wealth gap and advancing economic equity across Rhode Island. Ribba offers a comprehensive menu of programs and services designed to meet entrepreneurs, small businesses, and individuals where they are. Additionally, ribba tailors its programming to be culturally responsive. These programs are complemented by additional services such as marketing, website development, financial literacy and workforce training. Ribba supports the growth and sustainability of small businesses through access to capital, technical assistance, workforce development, leadership programs, and advocacy

What it reported doing in 2024

"emerging leaders development program" - a 7-month leadership development initiative in partnership with the university of Rhode Island to prepare professionals for leadership roles and career advancement

Operating model

Revenue model
Earned-program. 76% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 96% 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.6%; rating input score 66
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 26.3%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.81; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 67.8% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 25.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 26% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 65.6% of revenue deployed · 90% of spending went to programs
  • Governance: 19 of 19 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $144K · 19 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.