Rivma Companion Animal Foundation

What it reported doing in 2024

The Rhode Island veterinary medical association companion animal foundation is a non-profit organization that was established to provide financial assistance to low-income pet owners so that they can afford essential veterinary care for their sick or injured pets. The organization's goal is affordable healthcare for all pets. This is the first veterinary based assistance program of its kind in the united states and is currrently the largest resource for meeting the overwhelming need for urgent care for the pets in Rhode Island. The organizaton is governed by a veterinary and community based board of directors and has received excellent support from veterinarians and the general public. Pet owners must be income eligible for assistance to be given by the organization.low-income guidelines were modeled on the hud community median income standards, as well as owner participation in such programs as food stamps, heating assistance, and other similar resources. The organizaton established this set of eligibility criteria so that veterinarians can easily determine whether a client is able to participate in the program at the time the patient is examined.the absence of any sort of waiting period for funding makes emergency care possible, and there is no cumbersome documentation required of the participants. The organization audits 10% of fund recipients each year to verify accurate reporting. Because these grants are so accessible, veterinarians have the flexibility to offer immediate treatment plans to eligible clients, at the time the need is more urgent.the organization raises funds through grants, events, individual contributions and a veterinary patient memorial program. Funds are then primarily used for an annual disbursement that the state's veterinarians use to treat their eligible clients pets. The very modest remainder supports the organization's administrative needs, with the organization's day to day business being the responsibility of volunteers. The organization has also set up and endowment account that will help the organization serve the needy pet owners into the forseeable future.

Financial Efficiency

• Mission deployment rate: 64.9%; rating input score 65
• Program expense ratio: 56%; rating input score 56
• Fundraising efficiency: $5.17 raised per $1 spent on fundraising; rating input score 23; 23rd 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: 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: 3 of 7 controls in place; rating input score 43
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • 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: 0.9%; rating input score 41; 41st percentile among comparable filings
• Total-asset coverage ratio: 4.81; rating input score 78; 78th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

• Program expense growth: -3.2% per year; rating input score 0; 21st percentile among comparable filings
• Revenue growth: 2.8% per year; rating input score 100; 40th percentile among comparable filings
• Asset growth: 4.8% per year; rating input score 100; 46th percentile among comparable filings