ADELANTE INC (EIN 261407220) - 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

2008

Legal Domicile

Principal Officer

FRANK SHEA

Phone

4019412900

Tax Period

2024-07-01 to 2025-06-30

ADELANTE INC, founded in 2008, is a small nonprofit in the Housing & Shelter sector that reported $792K in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE AFFORDABLE HOUSING IN PROVIDENCE, RHODE ISLAND FOR SENIOR CITIZENS AND THE DISABLED UNDER SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT.

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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 $605,966

Program Service Revenue $173,024

Investment Income $12,737

Other Revenue $21

TOTAL REVENUE $791,748

Expense Breakdown

Grants Paid $0

Salaries & Benefits $191,550

Fundraising Expenses $0

Program Expenses $747,304

Other Expenses $657,491

TOTAL EXPENSES $849,041

Year-over-Year Comparison

	2024	2023	Change
Revenue	$791,748	$658,018	+0.2%
Expenses	$849,041	$707,124	+0.2%
Net Income	$-57,293	$-49,106	+0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK SHEA	PRESIDENT	1.00	Officer	$0	$0	$0
LARRY KELLAM	TREASURER	0.50	Officer	$0	$0	$0
VICKIE WALTERS	VICE PRESIDENT	0.50	Officer	$0	$0	$0
MICHELLE BROPHY	SECRETARY	0.50	Officer	$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
2025	$791,748	$849,041	$3,700,636	$-57,293
2024	$658,018	$707,124	$3,759,070	$-49,106
2023	$659,381	$664,976	$3,836,121	$-5,595
2021	$560,880	$654,094	$4,026,882	$-93,214
2020	$568,962	$758,605	$4,053,692	$-189,643
2019	$583,547	$807,107	$4,202,558	$-223,560

ADELANTE INC