Rhode Island Quality Institute

Nonprofit profile at a glance

EIN
753059336
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4012769141
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health Support Services

Official website

Reported finances

Revenue
$5,680,438
Expenses
$6,859,725
Assets
$10,239,590
Liabilities
$5,195,685

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

Leadership & pay

24 people listed

Executive titles in this filing

  • INDRA NEIL SARKAR PHD (PRESIDENT & CEO)

Highest reported compensation

  • INDRA NEIL SARKAR PHD (PRESIDENT & CEO): $309,178 total reported compensation
  • HOLLY STARK (SENIOR DIRECTOR FINANCE & OPERATIONS): $188,886 total reported compensation
  • SCOTT YOUNG (CHIEF STRATEGY OFFICER): $183,507 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 represent every constituency of healthcare leadership, as well as health insurance, consumer and public interest. To work collaboratively, come up with innovative solutions, champion changes throughout our organizations, and dedicate time, money and expertise to improve the quality of healthcare.

What it reported doing in 2024

Innovation - the goal of this program at the institute is to be a trusted enabler of data-driven decision-making for health and healthcare statewide. This is achieved by supporting health and high quality cost-effective patient and family-centered healthcare, by delivering accurate comprehensive timely reports and analyses to drive informed decisions by the key stakeholders in the community, including patients, providers of care, payers, policy makers, and businesses. The program manages, aggregates and transforms disparate data into actionable information, uncovering patterns, correlations and unique insights critical to the transformation of the healthcare system and supporting data driven paradigms to enable the quadruple aim.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 77
  • Accountability: 96
  • Sustainability: 23
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.9%; rating input score 92
  • Program expense ratio: 77.2%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • 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; 24th 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: -20.8%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.49; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 18%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -1.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 91.9% of revenue deployed · 77.2% of spending went to programs
  • Governance: 15 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $5.3M in reported program spending
  • Leadership: top reported pay $309K · 24 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.3M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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.

  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.