Rhode Island Lumber & Building Material Dealers Association
Rhode Island Lumber & Building Material Dealers Association consistently operates with deficits in recent years but maintains strong asset reserves.
EIN: 160573320 · Rensselaer, NY · NTEE: S46 · Updated: 2026-03-28
Is Rhode Island Lumber & Building Material Dealers Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rhode Island Lumber & Building Material Dealers Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rhode Island Lumber & Building Material Dealers Association
Rhode Island Lumber & Building Material Dealers Association (EIN: 160573320) is a nonprofit organization based in Rensselaer, NY, classified under NTEE code S46. The organization reported total revenue of $5.6M and total assets of $5.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rhode Island Lumber & Building Material Dealers Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rhode Island Lumber & Building Material Dealers Association is a mid-size nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $3.0M |
| Surplus / Deficit | $-657,598 |
| Total Assets | $5.8M |
| Total Liabilities | $1.2M |
| Net Assets | $4.6M |
| Operating Margin | -27.9% |
| Debt-to-Asset Ratio | 21.3% |
| Months of Reserves | 23.2 months |
Financial Health Grade: B
In 2023, Rhode Island Lumber & Building Material Dealers Association reported a deficit of $658K with expenses exceeding revenue, holds 23.2 months of operating reserves (strong position), has a debt-to-asset ratio of 21.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Rhode Island Lumber & Building Material Dealers Association's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +23.8% | +32.1% | -5.7% |
| 2022 | +19.6% | +36.2% | -9.5% |
| 2021 | -29.6% | -25.9% | +8.0% |
| 2020 | -15.6% | -25.2% | -5.3% |
| 2019 | +3.3% | +23.0% | -7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Lumber & Building Material Dealers Association with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Rhode Island Lumber & Building Material Dealers Association allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $658K, with expenses exceeding revenue.
- Debt-to-asset ratio: 21.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no compensation was paid to officers, which is highly unusual for an organization of this size with revenues in the millions.
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 Lumber & Building Material Dealers Association's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 202309: Expenses $3,010,434 vs. Revenue $2,352,836)
- Unusually low (0%) reported officer compensation for an organization with multi-million dollar revenues, which may obscure actual leadership costs.
Strengths
The following positive indicators were identified for Rhode Island Lumber & Building Material Dealers Association:
- Strong financial reserves with assets significantly exceeding liabilities ($5,811,239 assets vs. $1,238,229 liabilities in 202309).
- Consistent financial reporting over a long period (13 filings), indicating transparency.
- Low reported administrative overhead in terms of officer compensation.
Frequently Asked Questions about Rhode Island Lumber & Building Material Dealers Association
Is Rhode Island Lumber & Building Material Dealers Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Rhode Island Lumber & Building Material Dealers Association (EIN: 160573320) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Rhode Island Lumber & Building Material Dealers Association spend its money?
Rhode Island Lumber & Building Material Dealers Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rhode Island Lumber & Building Material Dealers Association tax-deductible?
Rhode Island Lumber & Building Material Dealers Association is registered as a tax-exempt nonprofit (EIN: 160573320). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the organization cover its operational deficits, given that expenses frequently exceed revenue?
The organization likely covers its operational deficits by drawing from its substantial asset base, which was $5,811,239 in 202309, or through investment income not explicitly detailed in the provided summary.
What is the primary source of the organization's revenue, and is it sustainable?
While specific revenue sources are not detailed, for a trade association, it typically includes membership dues, event fees, and potentially industry-related services. The consistency of revenue around $2 million suggests a stable base, but the recent decline from $2,674,931 in 201909 to $2,352,836 in 202309 warrants monitoring.
Why is officer compensation consistently reported as 0%?
A consistent 0% officer compensation could indicate that leadership roles are filled by volunteers, or that compensation is structured in a way that it is not reported as 'officer compensation' on the 990, which would require further investigation into the full filing.
Filing History
IRS 990 filing history for Rhode Island Lumber & Building Material Dealers Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Rhode Island Lumber & Building Material Dealers Association's revenue has grown by 33.8%, moving from $1.8M to $2.4M. Total assets decreased by 3.5% over the same period, from $6.0M to $5.8M. Total functional expenses rose by 62.7%, from $1.9M to $3.0M. In its most recent filing year (2023), Rhode Island Lumber & Building Material Dealers Association reported a deficit of $658K, with expenses exceeding revenue. The organization holds $1.2M in liabilities against $5.8M in assets (debt-to-asset ratio: 21.3%), resulting in net assets of $4.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $3.0M | $5.8M | $1.2M | — | View 990 |
| 2022 | $1.9M | $2.3M | $6.2M | $1.1M | — | — |
| 2021 | $1.6M | $1.7M | $6.8M | $1.1M | — | View 990 |
| 2020 | $2.3M | $2.3M | $6.3M | $763K | — | — |
| 2019 | $2.7M | $3.0M | $6.7M | $1.1M | — | View 990 |
| 2018 | $2.6M | $2.5M | $7.2M | $1.3M | — | View 990 |
| 2017 | $2.6M | $2.4M | $7.0M | $1.3M | — | View 990 |
| 2016 | $2.4M | $2.3M | $6.6M | $1.3M | — | View 990 |
| 2015 | $2.2M | $2.3M | $6.4M | $1.3M | — | View 990 |
| 2014 | $2.1M | $2.1M | $6.6M | $1.2M | — | View 990 |
| 2013 | $1.9M | $1.9M | $6.4M | $1.1M | — | View 990 |
| 2012 | $1.8M | $1.8M | $6.4M | $1.2M | — | View 990 |
| 2011 | $1.8M | $1.9M | $6.0M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $3.0M, and assets of $5.8M (revenue +23.8% year-over-year).
- 2022: Revenue of $1.9M, expenses of $2.3M, and assets of $6.2M (revenue +19.6% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.7M, and assets of $6.8M (revenue -29.6% year-over-year).
- 2020: Revenue of $2.3M, expenses of $2.3M, and assets of $6.3M (revenue -15.6% year-over-year).
- 2019: Revenue of $2.7M, expenses of $3.0M, and assets of $6.7M (revenue +3.3% year-over-year).
- 2018: Revenue of $2.6M, expenses of $2.5M, and assets of $7.2M (revenue -1.7% year-over-year).
- 2017: Revenue of $2.6M, expenses of $2.4M, and assets of $7.0M (revenue +11.3% year-over-year).
- 2016: Revenue of $2.4M, expenses of $2.3M, and assets of $6.6M (revenue +9.2% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.3M, and assets of $6.4M (revenue +5.4% year-over-year).
- 2014: Revenue of $2.1M, expenses of $2.1M, and assets of $6.6M (revenue +5.9% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.9M, and assets of $6.4M (revenue +6.2% year-over-year).
- 2012: Revenue of $1.8M, expenses of $1.8M, and assets of $6.4M (revenue +4.0% year-over-year).
- 2011: Revenue of $1.8M, expenses of $1.9M, and assets of $6.0M.
Data Sources and Methodology
This transparency report for Rhode Island Lumber & Building Material Dealers Association 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.