EAST PROVIDENCE, RI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
THE PRIMARY EXEMPT PURPOSE IS TO PROVIDE ELDERLY PERSONS ON A NON-PROFIT BASIS RENTAL HOUSING, HEALTH CARE, ASSISTED LIVING AND OTHER FACILITIES AND SERVICES ESPECIALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS OF THE AGED AND CONTRIBUTING TO THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING; TO THAT END, IT IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM FUNCTIONS OF AND TO CARRY OUT THE PURPOSES OF ALDERSBRIDGE COMMUNITIES, WINSLOW GARDENS, ARBOR HILL ASSISTED LIVING, AND LINN HEALTH AND REHABILITATION.
MANAGEMENT OF INVESTMENTS AND OTHER SUPPORTING ACTIVITIES FOR THE BENEFIT OF RELATED ORGANIZATIONS THAT ARE ALSO ORGANIZATIONS EXEMPT FROM TAXATION.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| 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 |
Compare ALDERSBRIDGE FOUNDATION (FKA UNITED METHODIST ELDER CARE FOUNDATION) with other nonprofits in Rhode Island and across the country.