Ri Bio

Nonprofit profile at a glance

EIN
462858053
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
Providence, RI, USA
Phone
4014005499
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$544,166
Expenses
$590,547
Assets
$42,269
Liabilities
$16,367

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

Leadership & pay

11 people listed

Highest reported compensation

  • GLENN ROBERTELLI (EXECUTIVE DI): $77,404 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 support the health care industry by galvanizing collaboration between the health technologies companies, hospitals, universities, sources of capital and governmental partners to support and accelerate health technology development in Rhode Island.

What it reported doing in 2024

Leadership skills for creating a successful post-pandemic future the program provided an opportunity for ri bio life sciences employer partners to offer training to help develop and retain leaders in their organizations. The training was offered virtually and provided flexible options for employees to take one or as many of the six courses to best meet their needs. The training offered the chance for employees who completed all of the courses to be considered for additional projects, new assignments or leadership roles.

Operating model

Revenue model
Grant-funded. 77% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.1%; rating input score 64
  • Program expense ratio: 59%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.5%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 13.1%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 17.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 64.1% of revenue deployed · 59% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $77K · 11 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.