Rhode Island Medical Society

Nonprofit profile at a glance

EIN
050250010
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4013313207
Rating
36
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$668,202
Expenses
$656,497
Assets
$1,401,213
Liabilities
$71,772

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

Leadership & pay

19 people listed

Executive titles in this filing

  • STACY PATERNO (EXECUTIVE VICE PRESIDENT)
  • HEATHER A SMITH MD (PAST PRESIDENT)
  • KARA STAVROS MD (PRESIDENT)
  • DINA HIMELFARB MD (PRESIDENT-ELECT)
  • MARIAH STUMP MD (VICE PRESIDENT)

Highest reported compensation

  • STACY PATERNO (EXECUTIVE VICE PRESIDENT): $149,054 total reported compensation
  • HEATHER A SMITH MD (PAST PRESIDENT): $9,000 total reported compensation
  • KARA STAVROS MD (PRESIDENT): $3,000 total reported compensation

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

Overview

Mission

To promote the art and science of medicine for the betterment of public health and to advocate quality patient care and promote the exchange of information

What it reported doing in 2024

Provision of staff services to other medical specialty societies and not-for-profit entities in Rhode Island

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - Most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 55
  • Accountability: 81
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.4%; rating input score 0
  • Program expense ratio: 0.4%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 94.4%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.8%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 24.5%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -99.4% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: -3.7% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 0.4% of revenue deployed · 0.4% of spending went to programs
  • Governance: 17 of 18 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $149K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 27 current checks pass · 14 findings to review
  • Schedules: 6 filed schedules · includes executive pay and related organizations
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Travel column sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.