ALDERSBRIDGE FOUNDATION (FKA UNITED METHODIST ELDER CARE FOUNDATION) (EIN 050500900) - 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

2024-01-01 to 2024-12-31

ALDERSBRIDGE FOUNDATION (FKA UNITED METHODIST ELDER CARE FOUNDATION), founded in 1997, is a micro nonprofit in the Health Care sector that reported $15K in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 6863% operating deficit.

Mission

ALDERSBRIDGE FOUNDATION EXISTS TO SUPPORT IN THE RELEVANCY, SUSTAINABILITY AND OPERATIONS OF THE SUPPORTED ORGANIZATIONS AND THEIR MISSION TO THE COMMUNITY THROUGH PROVIDING A PLACE WHERE OLDER PERSONS MAY LIVE IN COMFORT, DIGNITY AND WITH PURPOSE.THE ORGANIZATION SUPPORTS WITH OFFERING A WIDE CONTINUUM OF SENIOR LIVING OPTIONS FROM INDEPENDENT/ASSISTED LIVING APARTMENTS IN WINSLOW GARDENS AND SKILLED NURSING AND REHABILITATION IN LINN HEALTH CARE CENTER ALSO IN EAST PROVIDENCE, TO ITS NEWEST FACILITY, ARBOR HILL, AN ASSISTED LIVING FACILITY LOCATED ON FEDERAL HILL IN PROVIDENCE.ALDERSBRIDGE FOUNDATION SUPPORTS TO ENSURE THAT EACH RESIDENT IS PROVIDED WITH THE LIVING ENVIRONMENT AND LEVEL OF CARE THAT BEST SUITS THE INDIVIDUAL'S NEEDS. ITS AFFORDABLE SERVICES OFFER FLEXIBILITY AND STABILITY WHILE MAXIMIZING INDEPENDENCE WITH A SENSE OF SECURITY AND CONFIDENCE FOR LOW TO MID-INCOME SENIORS "ADDING LIFE TO YEAR".

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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 $610

Program Service Revenue $0

Investment Income $14,763

Other Revenue $50

TOTAL REVENUE $15,423

Expense Breakdown

Grants Paid $1,035,440

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,035,440

Other Expenses $38,451

TOTAL EXPENSES $1,073,891

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,423	$21,164	-0.3%
Expenses	$1,073,891	$46,861	+21.9%
Net Income	$-1,058,468	$-25,697	+40.2%

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

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

$524,558

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL COLE	PRESIDENT	1.00	Officer Director	$0	$0	$0
LAUREN A FLORIO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SUSAN CERRONE ABELY	TREASURER	1.00	Officer Director	$0	$0	$0
HANNAH BELL-LOMBARDO	SECRETARY	1.00	Officer Director	$0	$0	$0
ERIC CHASON	BOARD MEMBER	0.10	Director	$0	$0	$0
JOCELYNE DE GOUVENAIN	BOARD MEMBER	0.10	Director	$0	$0	$0
TJ DELSANTO	BOARD MEMBER	0.10	Director	$0	$0	$0
ANTHONY F DOLPHIN	BOARD MEMBER	0.10	Director	$0	$0	$0
JODI L GLASS	BOARD MEMBER	0.10	Director	$0	$0	$0
BRUCE W GLASS	BOARD MEMBER	0.10	Director	$0	$0	$0
ELIZABETH H HOWLETT	BOARD MEMBER	1.00	Director	$0	$0	$0
REV DR JAMES MARTIN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN F O'ROURKE	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANCIS A RICHARDS	BOARD MEMBER	1.00	Director	$0	$0	$0
NANCY RUZZO	BOARD MEMBER	0.10	Director	$0	$0	$0
BISHOP THOMAS J BICKERTON	BOARD MEMBER	0.10	Director	$0	$0	$0
RICHARD GAMACHE	CEO	0.00	Officer	$0	$22,558	$255,103
JOSEPH DURAND	CFO	0.50	Officer	$0	$24,339	$144,576
SANDRA CULLEN	COO	0.00	Officer	$0	$15,320	$124,879

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	$15,423	$1,073,891	$228,574	$-1,058,468
2023	$21,164	$46,861	$2,476,236	$-25,697
2022	$505,514	$43,794	$2,301,909	$461,720
2021	$361,386	$563,865	$1,975,652	$-202,479
2020	$24,041	$89,371	$2,402,821	$-65,330
2019	$10,402	$61,305	$2,361,298	$-50,903

ALDERSBRIDGE FOUNDATION (FKA UNITED METHODIST ELDER CARE FOUNDATION)