Rhode Island Automobile Insurance Plan
Rhode Island Automobile Insurance Plan consistently reports expenses exceeding revenue, with no officer compensation.
EIN: 136194674 · Johnston, RI · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $14.0M |
| Total Expenses | $19.7M |
| Program Spending | 90% |
| Net Assets | $-1,126,142 |
| Transparency Score | 65/100 |
Is Rhode Island Automobile Insurance Plan Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rhode Island Automobile Insurance Plan directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rhode Island Automobile Insurance Plan
Rhode Island Automobile Insurance Plan (EIN: 136194674) is a nonprofit organization based in Johnston, RI. The organization reported total revenue of $14.0M and total assets of $24.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rhode Island Automobile Insurance Plan's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rhode Island Automobile Insurance Plan is a large nonprofit that has been operating for 72 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.2M |
| Total Expenses | $19.7M |
| Surplus / Deficit | $-7,573,759 |
| Total Assets | $22.9M |
| Total Liabilities | $24.1M |
| Net Assets | $-1,126,142 |
| Operating Margin | -62.3% |
| Debt-to-Asset Ratio | 104.9% |
| Months of Reserves | 13.9 months |
Financial Health Grade: C
In 2023, Rhode Island Automobile Insurance Plan reported a deficit of $7.6M with expenses exceeding revenue, holds 13.9 months of operating reserves (strong position), has a debt-to-asset ratio of 104.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Rhode Island Automobile Insurance Plan's revenue has grown at a compound annual growth rate (CAGR) of 12.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +10.3% | +18.7% | +18.3% |
| 2022 | -15.6% | -17.7% | -23.2% |
| 2021 | -21.5% | -9.5% | -9.3% |
| 2020 | +22.5% | +4.7% | +27.5% |
| 2019 | +213.2% | +419.8% | +68.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1954 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Rhode Island Automobile Insurance Plan with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Rhode Island Automobile Insurance Plan allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $7.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 104.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of this size with millions in revenue and expenses. This suggests a different operational model, possibly managed by an external entity or volunteer leadership.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Rhode Island Automobile Insurance Plan's IRS 990 filings:
- Consistent negative net assets (e.g., 2023: Assets $22.9M, Liabilities $24.0M)
- Expenses consistently exceeding revenue over multiple years (e.g., 2023: Revenue $12.1M, Expenses $19.7M)
- NTEE code is unknown, making direct comparison to peer organizations difficult.
Strengths
The following positive indicators were identified for Rhode Island Automobile Insurance Plan:
- Consistent 0% officer compensation reported across all filings.
- Regular and consistent IRS 990 filing history, indicating transparency.
- Significant assets managed, suggesting a substantial operational scale.
Frequently Asked Questions about Rhode Island Automobile Insurance Plan
Is Rhode Island Automobile Insurance Plan a legitimate charity?
Based on AI analysis of IRS 990 filings, Rhode Island Automobile Insurance Plan (EIN: 136194674) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Rhode Island Automobile Insurance Plan spend its money?
Rhode Island Automobile Insurance Plan directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rhode Island Automobile Insurance Plan tax-deductible?
Rhode Island Automobile Insurance Plan is registered as a tax-exempt nonprofit (EIN: 136194674). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Rhode Island Automobile Insurance Plan located?
Rhode Island Automobile Insurance Plan is headquartered in Johnston, Rhode Island and files with the IRS under EIN 136194674.
How many years of IRS 990 filings does Rhode Island Automobile Insurance Plan have?
Rhode Island Automobile Insurance Plan has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $14.0M in total revenue.
Is Rhode Island Automobile Insurance Plan a good charity?
Based on the available data, RIAIP does not operate as a traditional charity. It appears to be an insurance plan or risk pool. Its 'goodness' should be evaluated based on its effectiveness in fulfilling its purpose as an automobile insurance plan, rather than as a charitable organization.
Why do expenses consistently exceed revenue for RIAIP?
For many insurance plans or risk pools, expenses (primarily claims and operational costs) can fluctuate and sometimes exceed revenue in a given period, especially if it's designed to cover specific risks. The consistent negative net assets suggest a potential structural deficit or a funding model that relies on periodic assessments or adjustments rather than aiming for a surplus.
What is the purpose of the Rhode Island Automobile Insurance Plan?
While not explicitly stated in the financial data, an 'Automobile Insurance Plan' typically serves as a mechanism to provide auto insurance to high-risk drivers who cannot obtain coverage in the voluntary market. Its purpose is to ensure access to essential insurance coverage.
How does RIAIP manage its operations with 0% officer compensation?
The 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or its administrative functions are outsourced to a management company or another entity that is compensated separately, not through direct officer salaries reported on the 990.
Filing History
IRS 990 filing history for Rhode Island Automobile Insurance Plan showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Rhode Island Automobile Insurance Plan's revenue has grown by 307.8%, moving from $3.0M to $12.2M. Total assets increased by 332.1% over the same period, from $5.3M to $22.9M. Total functional expenses rose by 632%, from $2.7M to $19.7M. In its most recent filing year (2023), Rhode Island Automobile Insurance Plan reported a deficit of $7.6M, with expenses exceeding revenue. The organization holds $24.1M in liabilities against $22.9M in assets (debt-to-asset ratio: 104.9%), resulting in net assets of $-1,126,142.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.2M | $19.7M | $22.9M | $24.1M | — | — |
| 2022 | $11.0M | $16.6M | $19.4M | $18.2M | — | View 990 |
| 2021 | $13.1M | $20.2M | $25.3M | $22.9M | — | View 990 |
| 2020 | $16.6M | $22.3M | $27.8M | $20.6M | — | View 990 |
| 2019 | $13.6M | $21.3M | $21.8M | $19.9M | — | View 990 |
| 2018 | $4.3M | $4.1M | $13.0M | $11.5M | — | View 990 |
| 2017 | $3.9M | $3.8M | $16.3M | $15.4M | — | — |
| 2016 | $4.5M | $3.8M | $12.7M | $12.6M | — | View 990 |
| 2015 | $3.8M | $3.3M | $10.6M | $11.1M | — | View 990 |
| 2014 | $3.7M | $3.1M | $8.6M | $9.8M | — | View 990 |
| 2013 | $3.0M | $3.1M | $7.0M | $7.8M | — | View 990 |
| 2012 | $2.9M | $2.8M | $5.8M | $7.5M | — | View 990 |
| 2011 | $3.0M | $2.7M | $5.3M | $6.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.2M, expenses of $19.7M, and assets of $22.9M (revenue +10.3% year-over-year).
- 2022: Revenue of $11.0M, expenses of $16.6M, and assets of $19.4M (revenue -15.6% year-over-year).
- 2021: Revenue of $13.1M, expenses of $20.2M, and assets of $25.3M (revenue -21.5% year-over-year).
- 2020: Revenue of $16.6M, expenses of $22.3M, and assets of $27.8M (revenue +22.5% year-over-year).
- 2019: Revenue of $13.6M, expenses of $21.3M, and assets of $21.8M (revenue +213.2% year-over-year).
- 2018: Revenue of $4.3M, expenses of $4.1M, and assets of $13.0M (revenue +10.2% year-over-year).
- 2017: Revenue of $3.9M, expenses of $3.8M, and assets of $16.3M (revenue -12.2% year-over-year).
- 2016: Revenue of $4.5M, expenses of $3.8M, and assets of $12.7M (revenue +19.0% year-over-year).
- 2015: Revenue of $3.8M, expenses of $3.3M, and assets of $10.6M (revenue +2.5% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.1M, and assets of $8.6M (revenue +20.6% year-over-year).
- 2013: Revenue of $3.0M, expenses of $3.1M, and assets of $7.0M (revenue +4.4% year-over-year).
- 2012: Revenue of $2.9M, expenses of $2.8M, and assets of $5.8M (revenue -2.2% year-over-year).
- 2011: Revenue of $3.0M, expenses of $2.7M, and assets of $5.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rhode Island Automobile Insurance Plan:
Data Sources and Methodology
This transparency report for Rhode Island Automobile Insurance Plan is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.