Codac Inc

Nonprofit profile at a glance

EIN
050414696
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Cranston, RI, USA
Phone
4014615056
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alcohol, Drug Abuse, Treatment Only

Reported finances

Revenue
$23,963,100
Expenses
$22,511,796
Assets
$14,378,174
Liabilities
$5,470,363

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

Leadership & pay

16 people listed

Executive titles in this filing

  • LINDA HURLEY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • AMY SYNDER (PHYSICIAN): $293,063 total reported compensation
  • LINDA HURLEY (CHIEF EXECUTIVE OFFICER): $232,280 total reported compensation
  • DAVID NEFUSSY (CHIEF BUSINESS OFFICER): $212,336 total reported compensation

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

Overview

Mission

To provide the highest standard of behavioral health services in a recovery oriented system of care.

What it reported doing in 2024

The methadone maintenance program is a medicated assisted treatment center which provided services to approximately 4,500 patients throughout the year.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.9%; rating input score 65
  • Program expense ratio: 69.1%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.1%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 9.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 64.9% of revenue deployed · 69.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $15.6M in reported program spending
  • Leadership: top reported pay $293K · 16 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $109K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.