Rhode Island Medical Society Foundation

Nonprofit profile at a glance

EIN
050401176
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4013313207
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$180,669
Expenses
$315,146
Assets
$627,231
Liabilities
$40,783

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

Leadership & pay

7 people listed

Executive titles in this filing

  • HEATHER SMITH (PRESIDENT through Sept. 2024)
  • KARA STAVROS (PRESIDENT start Oct. 2024)
  • STACY PATERNO (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • STACY PATERNO (EXECUTIVE VICE PRESIDENT): $149,054 total reported compensation
  • HEATHER SMITH (PRESIDENT through Sept. 2024): $9,000 total reported compensation
  • KARA STAVROS (PRESIDENT start Oct. 2024): $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

Promote the betterment of public health by engaging in educational and charitable activities related to the field of medicine, and to support peer review activities

What it reported doing in 2024

Public service and education - this program supports the costs of: (1) conducting a campaign to increase the frequency with which medical offices screen patients for pre-diabetes and the rate at which they refer pre-diabetic patients to the many new evidence-based diabetes prevention programs that are established in Rhode Island, and also collaborate with others working towards this common goal; (2) supporting public educational programs and raise public awareness relating to professional liability tort reform; (3) and responding to other educational and safety concerns.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 69
  • Accountability: 74
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: $169.74 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -74.4%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.99; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $302K in reported program spending
  • Leadership: top reported pay $149K · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.