Aldersbridge Foundation (Fka United Methodist Elder Care Foundation)

Nonprofit profile at a glance

EIN
050500900
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
East Providence, RI, USA
Phone
4014387210
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Health Systems
Affiliation
Christianity

Reported finances

Revenue
$15,423
Expenses
$1,073,891
Assets
$228,574
Liabilities
$54,427

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • MICHAEL COLE (PRESIDENT)
  • LAUREN A FLORIO (VICE PRESIDENT)
  • RICHARD GAMACHE (CEO)

Highest reported compensation

  • RICHARD GAMACHE (CEO): $255,103 total reported compensation
  • JOSEPH DURAND (CFO): $144,576 total reported compensation
  • SANDRA CULLEN (COO): $124,879 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

Management of investments and other supporting activities for the benefit of related organizations that are also organizations exempt from taxation.

Operating model

Revenue model
Investment-supported. 95% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 68
  • Accountability: 86
  • Sustainability: 8
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6,862.9%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 18.3% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: -6.5% per year; rating input score 0; 39th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 30th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.4% of spending went to programs
  • Governance: 16 of 16 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $255K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.