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Aldersbridge Foundation

Tax-deductible

East Providence, RI501(c)(3)Hospitals EIN 05-0500900Revenue $15K in FY2024

On file with the IRS40 Irving Avenue, 02914-2301 · East Providence, RITax-exempt since Feb 1999Supporting organization — 509(a)(3)

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Aldersbridge Foundation exists to support in the relevancy, sustainability and operations of the supported organizations and their mission to the community through providing a place where older persons may live in comfort, dignity and with purpose.the organization supports with offering a wide continuum of senior living options from independent/assisted living apartments in winslow gardens and skilled nursing and rehabilitation in linn health care center also in east providence, to its newest facility, arbor hill, an assisted living facility located on federal hill in providence.Aldersbridge Foundation supports to ensure that each resident is provided with the living environment and level of care that best suits the individual's needs. Its affordable services offer flexibility and stability while maximizing independence with a sense of security and confidence for low to mid-income seniors "adding life to year".

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 18 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $178K a year · 96% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $214K in investments, Pt X · Ln 11–13
Fine: 0.2 months of spending in cash, plus $214K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $513K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$54K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15K
-27% vs prior year
Spent
$1.1M
To programs
96%
Net assets
$174K
By yearFY2020–FY2024
Revenue
$15K
FY2024▼ -27%
Tap a bar for its year
Revenue by fiscal year
FY2020$24K
FY2021$361K
FY2022$506K
FY2023$21K
FY2024$15K
Expenses
$1.1M
FY2024▲ ×23
Tap a bar for its year
Expenses by fiscal year
FY2020$89K
FY2021$564K
FY2022$44K
FY2023$47K
FY2024$1.1M
Net assets
$174K
FY2024▼ -91%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$1.6M
FY2022$1.9M
FY2023$2.0M
FY2024$174K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $1.0M Management & general 4% · $38K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation
Michael Cole
President
$0Pt VII · Sec A
Lauren a Florio
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Chason
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Tj Delsanto
Board Member
$0Pt VII · Sec A
Anthony F Dolphin
Board Member
$0Pt VII · Sec A
See Aldersbridge Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides senior living options, supporting comfort, dignity, and purpose for older persons.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2024
01

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

$1.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Aldersbridge CommunitiesFY2022$513K
Total grants receivedfrom 1 funder$513K
Grants paid · 3 grants · $1.6M · 2020–2024
Aldersbridge CommunitiesRI · FY2024$1,035,440
Aldersbridge CommunitiesRI · FY2021$524,752
Aldersbridge CommunitiesRI · FY2020$49,695

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15K
Ln 12
Investment incomeLn 3$15K
Gifts and grantsLn 1h$610
Other incomeLn 4–11$50
Money outPt IX
$1.1M
Ln 25
Programscol B$1.0M
Managementcol C$38K
Owns and owesPt X
$174K
net assets · Ln 32
Cash and savingsLn 1–2$14K
Total assetsLn 16$229K
LiabilitiesLn 26$54K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$610
Investment incomeLn 3$15K
Other incomeLn 4–11$50
Gains on assetsLn 7$3K
Total revenueLn 12$15K
Assets in detailPt X, end of year
SavingsLn 2$14K
Cash and savings togetherLn 1–2$14K
InvestmentsLn 11–13$214K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$229K
LiabilitiesLn 26$54K
Net assetsLn 32$174K
OperationsPt I, VI
EmployeesI 50
VolunteersI 618
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$21K$14K
InvestmentsLn 11–13$1.2M$214K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$2.5M$229K
LiabilitiesLn 26$455K$54K
Net assetsLn 32$2.0M$174K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.0M$1.0M
Management feesLn 11a$22K$22K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$6K$6K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$1.1M$1.0M$38K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $15K$1.1M−$1.1M$174K 990 PDF
FY2023 $21K$47K−$26K$2.0M 990 PDF
FY2022 $506K$44K$462K$1.9M 990 PDF
FY2021 $361K$564K−$202K$1.6M 990 PDF
FY2020 $24K$89K−$65K$2.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $15,423 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $280$610
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $20,834$14,763
I-11 Other revenuePrior year $50$50
I-12 Total revenuePrior year $21,164$15,423
I-13 Grants and similar amounts paidPrior year $0$1,035,440
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $46,861$38,451
I-18 Total expensesPrior year $46,861$1,073,891
I-19 Revenue less expensesPrior year −$25,697−$1,058,468
Part VI · Governance 16 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $15,423 across 6 lines filed
VIII-1f All other contributions, gifts and grants$610
VIII-1h Total contributions, gifts and grants$610
VIII-3 Investment incomeExcluded from tax $11,788$11,788
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,975$2,975
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $50$50
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $14,813$15,423
Part IX · Statement of functional expenses $1,073,891 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $1,035,440$1,035,440
IX-11a Management feesManagement $22,223$22,223
IX-11c Accounting feesManagement $9,439$9,439
IX-11f Investment management feesManagement $5,584$5,584
IX-24 Other expenses (24a–d)Management $1,205$1,205
IX-25 Total functional expensesPrograms $1,035,440 · Management $38,451 · Fundraising $0$1,073,891
Part X · Balance sheet $228,574 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $21,068$13,869
X-9 Prepaid expenses and deferred chargesStart of year $1,180$1,181
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $1,180,211$213,524
X-15 Other assetsStart of year $1,273,777$0
X-16 Total assetsStart of year $2,476,236$228,574
X-17 Accounts payable and accrued expensesStart of year $441,637$32,204
X-25 Other liabilitiesStart of year $13,456$22,223
X-26 Total liabilitiesStart of year $455,093$54,427
X-27 Net assets without donor restrictionsStart of year $1,037,646−$415,324
X-28 Net assets with donor restrictionsStart of year $983,497$589,471
X-32 Total net assets or fund balancesStart of year $2,021,143$174,147
X-33 Total liabilities and net assetsStart of year $2,476,236$228,574
Part XI · Reconciliation of net assets $174,147 net assets at year end
XI-1 Total revenue$15,423
XI-2 Total expenses$1,073,891
XI-3 Revenue less expenses−$1,058,468
XI-4 Net assets at start of year$2,021,143
XI-5 Net unrealized gains (losses) on investments$59,577
XI-9 Other changes in net assets−$848,105
XI-10 Net assets at end of year$174,147

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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