Rhode Island Business Development Institute Inc
EIN: 471151685 · Providence, RI · NTEE: S02
| Metric | Value |
|---|---|
| Total Revenue | $186K |
| Total Expenses | $5K |
| Net Assets | $526K |
Is Rhode Island Business Development Institute Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Rhode Island Business Development Institute Inc
Rhode Island Business Development Institute Inc (EIN: 471151685) is a nonprofit organization based in Providence, RI, classified under NTEE code S02. The organization reported total revenue of $186K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rhode Island Business Development Institute Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rhode Island Business Development Institute Inc is a small nonprofit that has been operating for 9 years, with 8 years of IRS 990 filings on record (2016–2023). Revenue has grown at a compound annual rate of 44.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $240K |
| Total Expenses | $5K |
| Surplus / Deficit | +$235K |
| Total Assets | $1.2M |
| Total Liabilities | $685K |
| Net Assets | $526K |
| Operating Margin | 97.8% |
| Debt-to-Asset Ratio | 56.6% |
| Months of Reserves | 2805.2 months |
Financial Health Grade: A
In 2023, Rhode Island Business Development Institute Inc reported a surplus of $235K with revenue exceeding expenses, holds 2805.2 months of operating reserves (strong position), has a debt-to-asset ratio of 56.6% (high leverage).
Financial Trends
Over 8 years of filings (2016–2023), Rhode Island Business Development Institute Inc's revenue has grown at a compound annual growth rate (CAGR) of 44.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.9% | -45.2% | +58.7% |
| 2022 | +128.6% | -42.6% | +676.6% |
| 2021 | +340.4% | -11.4% | +150.6% |
| 2020 | -31.7% | +331.0% | -3.2% |
| 2019 | +68.8% | -79.8% | +147.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2017 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Rhode Island Business Development Institute Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Rhode Island Business Development Institute Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $235K, with revenue exceeding expenses.
- Debt-to-asset ratio: 56.6%.
Frequently Asked Questions about Rhode Island Business Development Institute Inc
Is Rhode Island Business Development Institute Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rhode Island Business Development Institute Inc (EIN: 471151685) insufficient data. 0 red flags identified, 0 strengths noted.
How does Rhode Island Business Development Institute Inc spend its money?
Detailed spending breakdown data is not yet available for Rhode Island Business Development Institute Inc. Check back for updated IRS 990 analysis.
Are donations to Rhode Island Business Development Institute Inc tax-deductible?
Rhode Island Business Development Institute Inc is registered as a tax-exempt nonprofit (EIN: 471151685). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Rhode Island Business Development Institute Inc located?
Rhode Island Business Development Institute Inc is headquartered in Providence, Rhode Island and files with the IRS under EIN 471151685. It is classified under NTEE code S02.
How many years of IRS 990 filings does Rhode Island Business Development Institute Inc have?
Rhode Island Business Development Institute Inc has 8 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 $186K in total revenue.
Filing History
IRS 990 filing history for Rhode Island Business Development Institute Inc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2016–2023), Rhode Island Business Development Institute Inc's revenue has grown by 1201.9%, moving from $18K to $240K. Total assets increased by 11829% over the same period, from $10K to $1.2M. Total functional expenses fell by 70.5%, from $18K to $5K. In its most recent filing year (2023), Rhode Island Business Development Institute Inc reported a surplus of $235K, with revenue exceeding expenses. The organization holds $685K in liabilities against $1.2M in assets (debt-to-asset ratio: 56.6%), resulting in net assets of $526K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $240K | $5K | $1.2M | $685K | — | — |
| 2022 | $196K | $9K | $763K | $479K | — | View 990 |
| 2021 | $86K | $16K | $98K | $0 | — | View 990 |
| 2020 | $19K | $19K | $39K | $0 | — | View 990 |
| 2019 | $28K | $4K | $41K | $0 | — | View 990 |
| 2018 | $17K | $21K | $16K | $0 | — | View 990 |
| 2017 | $17K | $6K | $21K | $0 | — | View 990 |
| 2016 | $18K | $18K | $10K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $240K, expenses of $5K, and assets of $1.2M (revenue +22.9% year-over-year).
- 2022: Revenue of $196K, expenses of $9K, and assets of $763K (revenue +128.6% year-over-year).
- 2021: Revenue of $86K, expenses of $16K, and assets of $98K (revenue +340.4% year-over-year).
- 2020: Revenue of $19K, expenses of $19K, and assets of $39K (revenue -31.7% year-over-year).
- 2019: Revenue of $28K, expenses of $4K, and assets of $41K (revenue +68.8% year-over-year).
- 2018: Revenue of $17K, expenses of $21K, and assets of $16K (revenue -0.9% year-over-year).
- 2017: Revenue of $17K, expenses of $6K, and assets of $21K (revenue -7.9% year-over-year).
- 2016: Revenue of $18K, expenses of $18K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rhode Island Business Development Institute Inc:
Data Sources and Methodology
This transparency report for Rhode Island Business Development Institute Inc 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.