ALDERSBRIDGE COMMUNITIES (F/K/A UNITED METHODIST ELDER CARE) (EIN 050500898) - 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

1997

Legal Domicile

Principal Officer

JOSEPH DURAND

Phone

4014387210

Tax Period

2023-01-01 to 2023-12-31

ALDERSBRIDGE COMMUNITIES (F/K/A UNITED METHODIST ELDER CARE), founded in 1997, is a community nonprofit in the Health Care sector that reported $3.7M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

LOCATED IN EAST PROVIDENCE, RHODE ISLAND, ALDERSBRIDGE COMMUNITIES IS AN AFFORDABLE CONTINUUM OF HOUSING AND CARE SERVING VERY-LOW TO MODERATE INCOME SENIORS. AS THE PARENT ORGANIZATION, ALDERSBRIDGE COMMUNITIES CONSISTS OF FOUR SEPARATE SUBSIDIARY ORGANIZATIONS. WINSLOW GARDENS, LINN HEALTH CARE CENTER, AND ARBOR HILL ASSISTED LIVING PROVIDE A FULL-COMPLEMENT OF SERVICES TO THE LOW TO MODERATE INCOME AGING THROUGHOUT SOUTHEASTERN MASSACHUSETTS AND RHODE ISLAND. ALDERSBRIDGE FOUNDATION PROVIDES SUPPORT AND FINANCIAL ASSISTANCE TO THE PARENT ORGANIZATION AND OTHER SUBSIDIARY ORGANIZATIONS. ALDERSBRIDGE COMMUNITIES IS AN EQUAL OPPORTUNITY PROVIDER OF HOUSING AND CARE WELCOMING ALL RELIGIOUS, ETHNIC, CULTURAL, AND SOCIO-ECONOMIC BACKGROUNDS AND SUPPORTS PRODUCTIVE AND JOYFUL AGING. ITS HISTORICAL CONNECTION TO THE NEW ENGLAND CONFERENCE OF THE UNITED METHODIST CHURCH PROVIDES THE IMPETUS OF ITS PERSPECTIVE AND COMMITMENT TO HUMAN DIGNITY AND QUALITY CARE.

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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 $596,591

Program Service Revenue $3,071,350

Investment Income $12,856

Other Revenue $6,499

TOTAL REVENUE $3,687,296

Expense Breakdown

Grants Paid $935,235

Salaries & Benefits $2,405,699

Fundraising Expenses $0

Program Expenses $2,528,339

Other Expenses $607,643

TOTAL EXPENSES $3,948,577

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,687,296	$3,926,096	-0.1%
Expenses	$3,948,577	$3,641,477	+0.1%
Net Income	$-261,281	$284,619	-1.9%

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

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

$749,764

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD GAMACHE	CHIEF EXECUTIVE OFFICER	40.00	Officer	$265,827	$27,796	$293,623
JOSEPH DURAND	CHIEF FINANCIAL OFFICER	10.00	Officer	$137,946	$23,156	$161,102
JAMIE SANFORD	ADMINISTRATOR	0.00	Officer	$0	$23,113	$158,882
SANDRA CULLEN	CHIEF OPERATING OFFICER	20.00	Officer	$121,552	$14,605	$136,157
SUSAN ABELY	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT GAUTHIER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRUCE W GLASS	BOARD MEMBER	1.00	Director	$0	$0	$0
JODI GLASS	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIE HENRIQUES	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN O'ROURKE	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANCIS RICHARDS	BOARD MEMBER	2.00	Director	$0	$0	$0
ELIZABETH HOWLETT	BOARD MEMBER	2.00	Director	$0	$0	$0
JASON PRECIPHS ESQ	BOARD MEMBER	2.00	Director	$0	$0	$0
VALERIE PERRY	BOARD MEMBER	1.00	Director	$0	$0	$0
REV DR JAMES MARTIN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOCELYNE DEGOUVENAIN	BOARD MEMBER	1.00	Director	$0	$0	$0
TJ DELSANTO	BOARD MEMBER	1.00	Director	$0	$0	$0
BISHOP PEGGY JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
DONALD RIPLEY	PRESIDENT	2.00	Officer Director	$0	$0	$0
MICHAEL COLE	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
HANNAH BELL-LOMBARDO	SECRETARY	2.00	Officer Director	$0	$0	$0
LAUREN FLORIO	TREASURER	2.00	Officer 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	No data	No data	No data	No data
2023	$3,687,296	$3,948,577	$4,260,259	$-261,281
2022	$3,926,096	$3,641,477	$4,393,072	$284,619
2021	$3,419,432	$3,208,531	$4,156,901	$210,901
2020	$3,184,354	$2,632,246	$3,836,968	$552,108
2019	$2,710,460	$2,108,206	$2,784,661	$602,254

ALDERSBRIDGE COMMUNITIES (F/K/A UNITED METHODIST ELDER CARE)