THE PROVIDENCE CENTER INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

MARY MARRAN

Phone

4014556267

Tax Period

2023-10-01 to 2024-09-30

THE PROVIDENCE CENTER INC, founded in 1971, is a mid-sized nonprofit in the Mental Health sector that reported $50.9M in total revenue in fiscal year 2023.

Mission

THE PROVIDENCE CENTER HELPS ADULTS, ADOLESCENTS AND CHILDREN AFFECTED BY PSYCHIATRIC ILLNESSES, EMOTIONAL PROBLEMS AND ADDICTIONS BY PROVIDING TREATMENT AND SUPPORTIVE SERVICES WITHIN A COMMUNITY SETTING. SINCE 1969, THE PROVIDENCE CENTER HAS MADE RECOVERY POSSIBLE FOR RHODE ISLANDERS THROUGH OVER 60 PROGRAMS AND WRAPAROUND SERVICES THAT MEET EACH INDIVIDUAL'S UNIQUE NEEDS FOR LIVING HEALTHY.

Program Service Accomplishments

Program 1

Expenses: $46,611,083 Revenue: $47,034,022

Expenses incurred in helping adults, adolescents and children affected by psychiatric illnesses, emotional problems and addictions by providing treatment and supportive services within a community...

Expenses incurred in helping adults, adolescents and children affected by psychiatric illnesses, emotional problems and addictions by providing treatment and supportive services within a community setting. Since 1969, The organization has made recovery possible for Rhode Islanders through over 60 programs and wraparound services that meet each individuals unique needs for living healthy. Please refer to schedule o for the organization's community benefit statement.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,673,078

Program Service Revenue $47,034,022

Investment Income $544,072

Other Revenue $640,502

TOTAL REVENUE $50,891,674

Expense Breakdown

Grants Paid $0

Salaries & Benefits $40,965,186

Fundraising Expenses $0

Program Expenses $46,611,083

Other Expenses $10,824,905

TOTAL EXPENSES $51,790,091

Year-over-Year Comparison

	2023	2022	Change
Revenue	$50,891,674	$52,358,236	0.0%
Expenses	$51,790,091	$50,461,358	+0.0%
Net Income	$-898,417	$1,896,878	-1.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

674

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$4,034,163

Total Directors

$3,464,812

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL E WAGNER MD	TRUSTEE - PRESIDENT/CEO/CNE	55.0	Officer Director	$0	$32,601	$1,721,011
JAMES E FANALE MD	FORMER OFFICER	0.0		$0	$140,001	$1,457,642
F JOSEPH IANNONI	FORMER OFFICER	0.0		$0	$83,899	$890,828
MARY MARRAN	TRUSTEE - PRESIDENT	55.0	Officer Director	$0	$83,575	$790,037
GHULAM SURTI MD	TRUSTEE - SVP & CMO	55.0	Officer Director	$0	$58,485	$719,486
STEPHEN E BURKE	VP OF FINANCE	55.0	Officer	$0	$16,266	$340,508
JAMIL CHAUDHRY MD	PSYCHIATRIST	55.0	Highest	$252,906	$36,847	$289,753
MARYGENE SANTA TERESA MD	PSYCHIATRIST	55.0	Highest	$214,183	$24,149	$238,332
JILLIAN ROY MSN RN QMHP	TRST - CNO/VP CLINICAL SVCS	55.0	Officer Director	$208,975	$25,303	$234,278
SAJID M CHOUDHRY MD	PSYCHIATRIST	55.0	Highest	$222,495	$11,504	$233,999
BENJAMIN R ISAIAH JR MS	COO	55.0	Officer	$214,542	$14,301	$228,843
MELANIE DUBOIS RN	Lead Nurse Prescriber	55.0	Highest	$165,697	$31,203	$196,900
SHANNON MAJ MD	PSYCHIATRIST	55.0	Highest	$156,235	$18,082	$174,317
JAMES A BOTVIN	CHAIRMAN - TRUSTEE	1.0	Officer Director	$0	$0	$0
DONALD R BARBEAU	VICE-CHAIRMAN - TRUSTEE	1.0	Officer Director	$0	$0	$0
JANA M PLANKA	TREASURER - TRUSTEE	1.0	Officer Director	$0	$0	$0
FRANK CASALE JR	TRUSTEE	1.0	Director	$0	$0	$0
MARGUERITE L CHADWICK	TRUSTEE	1.0	Director	$0	$0	$0
WALTER R CRADDOCK ESQ CFP	TRUSTEE	1.0	Director	$0	$0	$0
MICHAEL MAYNARD	TRUSTEE	1.0	Director	$0	$0	$0
NICKI SAHLIN PHD	TRUSTEE	1.0	Director	$0	$0	$0
JOEL STARK	TRUSTEE	1.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$50,891,674	$51,790,091	$26,771,546	$-898,417
2023	$52,358,236	$50,461,358	$30,408,072	$1,896,878
2022	$49,786,045	$48,015,614	$29,800,639	$1,770,431
2021	$52,557,573	$48,843,834	$28,729,662	$3,713,739
2020	$50,992,680	$50,825,893	$24,585,740	$166,787
2019	$51,012,597	$52,663,075	$22,893,889	$-1,650,478
2018	$49,519,634	$51,734,453	$26,268,010	$-2,214,819