THE COMMONS OF PROVIDENCE (EIN 341826097) - 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

1996

Legal Domicile

Principal Officer

PRENTICE O LIPSEY

Phone

4196241171

Tax Period

2024-07-01 to 2025-06-30

THE COMMONS OF PROVIDENCE, founded in 1996, is a community nonprofit in the Health Care sector that reported $7.0M in total revenue in fiscal year 2024.

Mission

THE COMMONS OF PROVIDENCE PROVIDES HOUSING AND NURSING SERVICES TO THE ELDERLY IN AN ASSISTED LIVING ENVIRONMENT.

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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 $51,463

Program Service Revenue $6,680,267

Investment Income $130,738

Other Revenue $117,893

TOTAL REVENUE $6,980,361

Expense Breakdown

Grants Paid $29,967

Salaries & Benefits $4,166,584

Fundraising Expenses $0

Program Expenses $5,454,355

Other Expenses $2,838,320

TOTAL EXPENSES $7,034,871

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,980,361	$6,694,790	+0.0%
Expenses	$7,034,871	$6,902,452	+0.0%
Net Income	$-54,510	$-207,662	-0.7%

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

N/A

Employees

182

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

$6,268,377

Total Directors

$13,996,053

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERIKA RICHARDSON	DIRECTOR / SEVP CHIEF OPERATING OFFICER	1.00	Director	$0	$580,120	$8,345,090
MITCH MELFI ESQ	VICE CHAIRMAN	1.00	Officer Director	$0	$45,113	$4,666,901
PRENTICE LIPSEY	CHAIRMAN / PRESIDENT AND CEO	1.00	Officer Director	$0	$97,989	$984,062
ALISA IFFLAND	TREASURER / VP OF FINANCE	1.00	Officer	$0	$17,041	$323,224
HEATHER REHMER	SECRETARY - VP OF OPERATIONS	1.00	Officer	$0	$36,402	$294,190
JASON NIEHAUS	SECRETARY / VP OF BUSINESS INTEGRATION	1.00		$0	$499	$146,357
SEANTELL AMISON	ADMINISTRATOR	1.00	Highest	$0	$12,626	$137,533

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	$6,980,361	$7,034,871	$10,468,926	$-54,510
2024	$6,694,790	$6,902,452	$10,502,741	$-207,662
2023	$5,824,244	$6,612,369	$10,776,184	$-788,125
2022	$6,277,418	$6,883,778	$11,289,858	$-606,360
2021	$6,231,673	$6,259,180	$16,868,086	$-27,507
2020	$6,365,940	$5,621,485	$16,643,668	$744,455
2019	$6,241,607	$5,411,707	$16,157,503	$829,900
2018	$5,115,769	$4,366,076	$16,151,425	$749,693

THE COMMONS OF PROVIDENCE