INDEPENDENT LIVING AUTHORITY OF RI (EIN 050450842) - Form 990 Financial Analysis & Trantor Score

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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

1983

Legal Domicile

Principal Officer

JOHN J PADIEN III

Phone

4017270150

Tax Period

2024-10-01 to 2025-09-30

INDEPENDENT LIVING AUTHORITY OF RI, founded in 1983, is a small nonprofit that reported $480K in total revenue in fiscal year 2024. Expenses of $540K exceeded revenue, resulting in a 12% operating deficit.

Mission

LOW INCOME HOUSING AVAILABLE FOR THE ELDERLY AND HANDICAPPED.

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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 (2024)

Revenue Breakdown

Contributions & Grants $365,431

Program Service Revenue $108,596

Investment Income $2,868

Other Revenue $3,087

TOTAL REVENUE $479,982

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $479,959

Other Expenses $539,842

TOTAL EXPENSES $539,842

Year-over-Year Comparison

	2024	2023	Change
Revenue	$479,982	$482,649	0.0%
Expenses	$539,842	$493,780	+0.1%
Net Income	$-59,860	$-11,131	+4.4%

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

N/A

Volunteers

N/A

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

$708,700

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHLEEN O'NEILL	SECRETARY	0.30	Officer Director	$0	$0	$0
THOMAS E HODGE	DIRECTOR	0.30	Director	$0	$0	$0
WILLIAM J SZAFAROWICZ	PRESIDENT	0.30	Officer Director	$0	$0	$0
HENRIQUE T PEDRO RPH	DIRECTOR	1.00	Director	$0	$0	$0
PAUL M DEPACE	DIRECTOR	0.03	Director	$0	$0	$0
JOSEPH F MCENNESS	TREASURER	0.30	Officer Director	$0	$0	$0
JOHN J PADIEN III	CHIEF EXECUTIVE OFFICER	1.00	Officer	$0	$47,926	$223,152
CATHERINE GILLIGAN	CHIEF FINANCIAL OFFICER	2.50	Officer	$0	$39,455	$164,572
DIANE D SANFORD	CHIEF OPERATING OFFICER	2.50	Officer	$0	$39,748	$162,330
DALE T KENNEDY	CHIEF OPERATING OFFICER	2.50	Officer	$0	$39,455	$158,646

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
2025	$479,982	$539,842	$1,014,764	$-59,860
2024	$482,649	$493,780	$1,042,920	$-11,131
2023	$411,255	$508,056	$1,086,038	$-96,801
2022	$411,464	$429,531	$1,167,857	$-18,067
2021	$406,003	$431,971	$1,158,340	$-25,968
2020	$388,193	$437,655	$1,193,817	$-49,462
2019	$388,672	$436,426	$1,236,924	$-47,754

INDEPENDENT LIVING AUTHORITY OF RI