Liabilities / Assets
88th percentile
Higher debt load relative to assets than 88% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.49x
Liabilities / Revenue
81st percentile
Higher debt load relative to revenue than 81% of similar nonprofits.
Net Margin
68th percentile
Higher net margin than 68% of similar nonprofits.
Top Officer Pay
76th percentile
Higher top officer pay than 76% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
92nd percentile
Faster asset growth than 92% of similar nonprofits.
Revenue Growth
95th percentile
Faster revenue growth than 95% of similar nonprofits.
Balance Sheet
Assets
Up$66,294
Up $42,524 (+179%) from 2019
Net Assets
Up$33,972
Up $37,611 (+1034%) from 2019
Liabilities
Up$32,322
Up $4,913 (+18%) from 2019
Revenue And Expenses
Revenue
Up$202,150
Up $114,090 (+130%) from 2019
Expenses
Up$164,539
Up $7,489 (+4.8%) from 2019
Net Income
Up$37,611
Up $106,601 (+155%) from 2019
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Oct 1, 2019 to Sep 30, 2020
- Signed
- Feb 10, 2021
- Return Version
- 2019v5.0
- Gross Receipts
- $202,150
Mission and Program Overview
Mission
The rimta foundation serves as an active non-profit organization dedicated to pursuing the enhancement of the rhode island marine trades industry in a way that is sustainable and equitable for all members of the rhode island marine trades association. This includes pursuance of opportunities related to the enhancement of economic growth, workforce development, job training, career education and environmental awareness. In collaboration with our network of public and private partners across the united states, the rimta foundation intends to make the progressive expertise of our industry a primary export for the state of rhode island.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $23,770 | $65,290 | ▲ $41,520 |
| Accounts Receivable | - | $1,004 | - |
| Total Assets | $23,770 | $66,294 | ▲ $42,524 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $27,409 | $32,322 | ▲ $4,913 |
| Total Liabilities | $27,409 | $32,322 | ▲ $4,913 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $-3,639 | $33,972 | ▲ $37,611 |
| Total Net Assets Fund Balance | $-3,639 | $33,972 | ▲ $37,611 |
| Total Liabilities and Net Assets / Fund Balance | $23,770 | $66,294 | ▲ $42,524 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| John Tregenza | President & |
| Richard Cromwell | Director |
| Matt Gineo | Secretary & |
| Paul Harden | Treasurer & |
| Matt Leduc | VP & Directo |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $202,150
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $37,611
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $164,539 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $146,365 | - | - | $146,365 |
| Fees for Services Accounting | - | $3,079 | - | $3,079 |
| Other Expenses | $821 | $15 | - | $15 |
| Total Functional Expenses | $156,467 | $8,072 | $0 | $164,539 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Backup withholding compliance
- No
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- No
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“The form 990 is prepared by an external accountant and reviewed by management. Once all are satisfied with the form, it is finalized and a copy is sent to all board members at the subsequent board meeting. The board is asked if they have any questions or comments and a general review of the form is conducted by management. Revisions, corrections, etc. Are made as necessary. Subsequent to this meeting the form is submitted to the irs.”
Form 990, Page 6, Part VI, Line 19
“Rimta foundation makes its governing documents and its financial statements available upon request. Rimta will mail copies upon request or provide copies to those who come to the administrative office during normal business hours. Rimta fdn charges a fee for the copies in accordance with irs regulations.”
Filing and Contact Details
Filer
- Filer Name
- Rimta Foundation
- EIN
- 82-3979153
- Phone
- 4013969619
- Address
- 99 POPPASQUASH ROAD, BRISTOL, RI 02809
Signing Officer
- Name
- Paul Harden
- Title
- Treasurer & Director
- Phone
- 4013969619
- Signed
- 2021-02-10
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- John Tregenza
- Legal Domicile
- Ri
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 0
Preparer
- Firm
- De Vine & Associates LLC
- Address
- 386 MARKET ST, WARREN, RI 02885
- Preparer
- Mark G Devine CPA
- Phone
- 4012540151
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S MISSION
“The rimta foundation serves as an active non-profit organization dedicated to pursuing the enhancement of the rhode island marine trades industry in a way that is sustainable and equitable for all members of the rhode island marine trades association. This includes pursuance of opportunities related to the enhancement of economic growth, workforce development, job training, career education and environmental awareness. In collaboration with our network of public and private partners across the united states, the rimta foundation intends to make the progressive expertise of our industry a primary export for the state of rhode island.”
Form 990, Page 2, Part III, Line 4D
“The rimta foundation serves as an active non-profit organization dedicated to pursuing the enhancement of the rhode island marine trades industry in a way that is sustainable and equitable for all members of the rhode island marine trades association. This includes pursuance of opportunities related to the enhancement of economic growth, workforce development, job training, career education and environmental awareness. In collaboration with our network of public and private partners across the united states, the rimta foundation intends to make the progressive expertise of our industry a primary export for the state of rhode island.”
Form 990, Part IX, Line 11G
“Outside contract services 146,365 0 0”
Raw XML Appendix274 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE RIMTA FOUNDATION SERVES AS AN ACTIVE NON-PROFIT ORGANIZATION DEDICATED TO PURSUING THE ENHANCEMENT OF THE RHODE ISLAND MARINE TRADES INDUSTRY IN A WAY THAT IS SUSTAINABLE AND EQUITABLE FOR ALL MEMBERS OF THE RHODE ISLAND MARINE TRADES ASSOCIATION. THIS INCLUDES PURSUANCE OF OPPORTUNITIES RELATED TO THE ENHANCEMENT OF ECONOMIC GROWTH, WORKFORCE DEVELOPMENT, JOB TRAINING, CAREER EDUCATION AND ENVIRONMENTAL AWARENESS. IN COLLABORATION WITH OUR NETWORK OF PUBLIC AND PRIVATE PARTNERS ACROSS THE UNITED STATES, THE RIMTA FOUNDATION INTENDS TO MAKE THE PROGRESSIVE EXPERTISE OF OUR INDUSTRY A PRIMARY EXPORT FOR THE STATE OF RHODE ISLAND. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE RIMTA FOUNDATION SERVES AS AN ACTIVE NON-PROFIT ORGANIZATION DEDICATED TO PURSUING THE ENHANCEMENT OF THE RHODE ISLAND MARINE TRADES INDUSTRY IN A WAY THAT IS SUSTAINABLE AND EQUITABLE FOR ALL MEMBERS OF THE RHODE ISLAND MARINE TRADES ASSOCIATION. THIS INCLUDES PURSUANCE OF OPPORTUNITIES RELATED TO THE ENHANCEMENT OF ECONOMIC GROWTH, WORKFORCE DEVELOPMENT, JOB TRAINING, CAREER EDUCATION AND ENVIRONMENTAL AWARENESS. IN COLLABORATION WITH OUR NETWORK OF PUBLIC AND PRIVATE PARTNERS ACROSS THE UNITED STATES, THE RIMTA FOUNDATION INTENDS TO MAKE THE PROGRESSIVE EXPERTISE OF OUR INDUSTRY A PRIMARY EXPORT FOR THE STATE OF RHODE ISLAND. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE FORM 990 IS PREPARED BY AN EXTERNAL ACCOUNTANT AND REVIEWED BY MANAGEMENT. ONCE ALL ARE SATISFIED WITH THE FORM, IT IS FINALIZED AND A COPY IS SENT TO ALL BOARD MEMBERS AT THE SUBSEQUENT BOARD MEETING. THE BOARD IS ASKED IF THEY HAVE ANY QUESTIONS OR COMMENTS AND A GENERAL REVIEW OF THE FORM IS CONDUCTED BY MANAGEMENT. REVISIONS, CORRECTIONS, ETC. ARE MADE AS NECESSARY. SUBSEQUENT TO THIS MEETING THE FORM IS SUBMITTED TO THE IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | RIMTA FOUNDATION MAKES ITS GOVERNING DOCUMENTS AND ITS FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. RIMTA WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. RIMTA FDN CHARGES A FEE FOR THE COPIES IN ACCORDANCE WITH IRS REGULATIONS. |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART IX, LINE 11G |
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| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 23770 |
| IRS990/TotalAssetsEOYAmt | 0 | 66294 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 23770 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 66294 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 202150 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 8072 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 156467 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 164539 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 27409 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 32322 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 27409 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 32322 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | -3639 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 33972 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 156467 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 156467 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 202150 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 23770 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 66294 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UponRequestInd | 0 | X |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 5 |
| IRS990/VotingMembersIndependentCnt | 0 | 5 |
| IRS990/WebsiteAddressTxt | 0 | WWW.RIMTA.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | PAUL HARDEN |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | TREASURER & DIRECTOR |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 4013969619 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2021-02-10 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | RIMTA FOUNDATION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | RIMT |
| ReturnHeader/Filer/EIN | 0 | 823979153 |
| ReturnHeader/Filer/PhoneNum | 0 | 4013969619 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 99 POPPASQUASH ROAD |
| ReturnHeader/Filer/USAddress/CityNm | 0 | BRISTOL |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | RI |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 02809 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 203353605 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | DE VINE & ASSOCIATES LLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 386 MARKET ST |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | WARREN |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | RI |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 02885 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 4012540151 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2021-02-12 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | MARK G DEVINE CPA |
| ReturnHeader/PreparerPersonGrp/SelfEmployedInd | 0 | X |
| ReturnHeader/ReturnTs | 0 | 2021-02-12T14:20:32-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2019-10-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2020-09-30 |
| ReturnHeader/TaxYr | 0 | 2019 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $66,294
- Liabilities
- $32,322
- Net assets
- $33,972
- Revenue
- $202,150
- Expenses
- $164,539
- Net income
- $37,611