PROVIDENCE REST (EIN 131740301) - 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

1956

Legal Domicile

Principal Officer

SCOTT P LA RUE

Phone

7189313000

Tax Period

2023-01-01 to 2023-12-31

PROVIDENCE REST, founded in 1956, is a mid-sized nonprofit in the Health Care sector that reported $34.4M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

TO RENDER INPATIENT MEDICAL CARE TO THE AGED.

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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 $1,482,947

Program Service Revenue $32,474,620

Investment Income $390,300

Other Revenue $6,708

TOTAL REVENUE $34,354,575

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,176,854

Fundraising Expenses $0

Program Expenses $30,121,857

Other Expenses $19,540,229

TOTAL EXPENSES $35,717,083

Year-over-Year Comparison

	2023	2022	Change
Revenue	$34,354,575	$27,671,551	+0.2%
Expenses	$35,717,083	$33,469,890	+0.1%
Net Income	$-1,362,508	$-5,798,339	-0.8%

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

258

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

$3,455,678

Total Directors

Key Employees

$341,163

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANCIS J SERBAROLI ESQ	CHAIRMAN	0.10	Officer Director	$0	$0	$0
THOMAS M O'BRIEN	VICE-CHAIR	0.10	Director	$0	$0	$0
DR TARA A CORTES	SECRETARY	0.10	Director	$0	$0	$0
THOMAS E ALBERTO	BOARD MEMBER	0.10	Director	$0	$0	$0
STEVE BUJNO	BOARD MEMBER	0.10	Director	$0	$0	$0
JOHN CAHILL	BOARD MEMBER	0.10	Director	$0	$0	$0
JOHN T DUNLAP	BOARD MEMBER	0.10	Director	$0	$0	$0
MSGR CHARLES J FAHEY	BOARD MEMBER, THRU NOV 2023	0.10	Director	$0	$0	$0
THOMAS J FAHEY JR MD	BOARD MEMBER	0.10	Director	$0	$0	$0
ERIC P FELDMANN	BOARD MEMBER	0.10	Director	$0	$0	$0
SISTER SELINE FLORES	BOARD MEMBER	0.10	Director	$0	$0	$0
JOHN GLEASON	BOARD MEMBER	0.10	Director	$0	$0	$0
KAREN GRAY	BOARD MEMBER	0.10	Director	$0	$0	$0
CLARION E JOHNSON MD	BOARD MEMBER	0.10	Director	$0	$0	$0
RORY KELLEHER	BOARD MEMBER	0.10	Director	$0	$0	$0
MSGR JOSEPH LAMORTE	BOARD MEMBER	0.10	Director	$0	$0	$0
RICHARD PARK	BOARD MEMBER	0.10	Director	$0	$0	$0
KATHRYN ROONEY	BOARD MEMBER	0.10	Director	$0	$0	$0
JOSEPH SAPORITO	BOARD MEMBER	0.10	Director	$0	$0	$0
GT SWEENEY	BOARD MEMBER	0.10	Director	$0	$0	$0
GENNARO VASILE PHD	BOARD MEMBER	0.10	Director	$0	$0	$0
BISHOP GERALD WALSH	BOARD MEMBER	0.10	Director	$0	$0	$0
SCOTT P LA RUE	PRESIDENT & CEO	0.10	Officer	$0	$412,658	$2,053,206
ANNMARIE COVONE	EXECUTIVE VP/CFO	0.10	Officer	$0	$309,335	$1,402,472
SISTER SELINE FLORES	CEO	35.00	Officer	$0	$0	$0
RICHARD P BISCOTTI	ADMINISTRATOR	35.00	Key Emp	$254,803	$86,360	$341,163
MAUREEN BOOTHBY	DIRECTOR OF NURSING	35.00	Highest	$183,951	$51,455	$235,406
HILLARY M CHANCY	DIRECTOR OF STAFF DEVELOPMENT	35.00	Highest	$133,815	$23,464	$157,279
JUDITH AGUSTIN	MDS DIRECTOR	35.00	Highest	$132,243	$24,723	$156,966
COLLEEN D MARTIN	RN SUPERVISOR	35.00	Highest	$125,528	$5,909	$131,437
DINAH L SULLIVAN	HR DIRECTOR	35.00	Highest	$125,075	$0	$125,075

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	$34,354,575	$35,717,083	$31,028,914	$-1,362,508
2022	$27,671,551	$33,469,890	$31,027,186	$-5,798,339
2021	$27,386,418	$30,382,533	$37,979,898	$-2,996,115
2020	$27,236,560	$30,959,312	$42,104,175	$-3,722,752
2019	$29,572,598	$32,333,657	$45,049,358	$-2,761,059
2018	$28,778,323	$30,326,935	$45,339,805	$-1,548,612

PROVIDENCE REST