The Providence Center Inc
Nonprofit profile at a glance
- EIN
- 050316969
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Providence, RI, USA
- Phone
- 4014556267
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community Mental Health Center
Reported finances
- Revenue
- $75,834,628
- Expenses
- $66,130,483
- Assets
- $39,464,088
- Liabilities
- $11,385,166
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- MICHAEL E WAGNER MD (TRUSTEE - PRESIDENT/CEO/CNE)
- MARY MARRAN (TRUSTEE - President/COO/BH)
- JILLIAN ROY MSN RN QMHP (TRUSTEE - PRESIDENT)
Highest reported compensation
- MICHAEL E WAGNER MD (TRUSTEE - PRESIDENT/CEO/CNE): $2,192,482 total reported compensation
- JAMES E FANALE MD (FORMER OFFICER): $1,158,470 total reported compensation
- MARY MARRAN (TRUSTEE - President/COO/BH): $905,841 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 providence center helps adults, adolescents and children affected by psychiatric illnesses, emotional problems and addictions by providing treatment and supportive services within a community setting. Since 1969, the providence center has made recovery possible for rhode islanders through over 60 programs and wraparound services that meet each individual's unique needs for living healthy.
What it reported doing in 2024
Expenses incurred in helping adults, adolescents and children affected by psychiatric illnesses, emotional problems and addictions by providing treatment and supportive services within a community setting. Since 1969, The organization has made recovery possible for Rhode Islanders through over 60 programs and wraparound services that meet each individuals unique needs for living healthy. Please refer to schedule o for the organization's community benefit statement.
Operating model
- Revenue model
- Earned-program. 96% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 90
- Accountability: 82
- Sustainability: 55
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.4%; rating input score 78
- Program expense ratio: 90%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- 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: 69.2%; rating input score 69; 20th 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: 12.8%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 0.6; rating input score 23; 23rd percentile among comparable filings
- Liabilities to assets ratio: 0.29; rating input score 57; 57th percentile among comparable filings
- Officer compensation ratio: 3.1%; rating input score 36; 36th percentile among comparable filings
Growth
- Program expense growth: 2.5% per year; rating input score 100; 18th percentile among comparable filings
- Revenue growth: 4% per year; rating input score 100; 32nd percentile among comparable filings
- Asset growth: 5.9% per year; rating input score 100; 43rd percentile among comparable filings
Details
- Where the money goes: 78.4% of revenue deployed · 90% of spending went to programs
- Governance: 9 of 13 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $59.5M in reported program spending
- Leadership: top reported pay $2.2M · 21 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $11.4M reported
- Consistency: 32 of 32 current checks pass
- Schedules: 8 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: 27 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 — Sustainability: Total-asset coverage ratio scored 23/100.
- Moderate — Sustainability: Officer compensation ratio scored 36/100.
- Review — Sustainability: Liabilities to assets ratio scored 57/100.