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Adelante INC

Tax-deductible

Providence, RI501(c)(3)Since 2008Housing EIN 26-1407220Revenue $792K in FY2025

On file with the IRSwdchoc.org861a Broad St, 02907-1768 · Providence, RITax-exempt since Dec 2007Publicly supported charity — 170(b)(1)(A)(vi)

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To provide low income housing to the elderly and disabled in the providence, RI area under section 202 of the national affordable housing act.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $51K a year · 8% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.6M
124% of total assets
Concern: liabilities are 124% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$792K
+20% vs prior year
Spent
$849K
To programs
88%
Net assets
−$878K
By yearFY2021–FY2025
Revenue
$792K
FY2025▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2021$561K
FY2023$659K
FY2024$658K
FY2025$792K
Expenses
$849K
FY2025▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2021$654K
FY2023$665K
FY2024$707K
FY2025$849K
Net assets
−$878K
FY2025▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2021−$640K
FY2023−$765K
FY2024−$814K
FY2025−$878K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2007.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $747K Management & general 12% · $102K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Frank Shea
President
$0Pt VII · Sec A
Larry Kellam
Treasurer
$0Pt VII · Sec A
Vickie Walters
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Adelante INC 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing in Providence for seniors and disabled individuals.

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Provided by the organization

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1 program · $747K · in their own filed words · FY2024
01

Provide low income housing to the elderly and disabled in the porvidence, ri area under section 202 of the national affordable housing act. Owns and operates a 53 unit apartment complex.

$747Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$792K
Ln 12
Gifts and grantsLn 1h$606K
Fees for servicesLn 2g$173K
Investment incomeLn 3$13K
Money outPt IX
$849K
Ln 25
Programscol B$747K
Managementcol C$102K
Owns and owesPt X
−$878K
net assets · Ln 32
Cash and savingsLn 1–2$423K
Total assetsLn 16$3.7M
LiabilitiesLn 26$4.6M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$606K
Government grantsLn 1e$606K
Fees for servicesLn 2g$173K
Investment incomeLn 3$13K
Other incomeLn 4–11$21
Total revenueLn 12$792K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$400K
Cash and savings togetherLn 1–2$423K
Land, buildings, equipmentLn 10c$3.3M
Total assetsLn 16$3.7M
LiabilitiesLn 26$4.6M
Net assetsLn 32−$878K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$467K$423K
Land, buildings, equipmentLn 10c$3.2M$3.3M
Total assetsLn 16$3.8M$3.7M
LiabilitiesLn 26$4.6M$4.6M
Net assetsLn 32−$814K−$878K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$192K$192K
Management feesLn 11a$54K$54K
Legal feesLn 11b$79$79
Accounting feesLn 11c$25K$25K
Other fees for servicesLn 11g$2K$2K
Office expensesLn 13$24K$331$23K
OccupancyLn 16$345K$345K
Depreciation, depletion and amortizationLn 22$125K$125K
InsuranceLn 23$54K$54K
Other expenses (24a–d)Ln 24$30K$30K
Total functional expensesLn 25$849K$747K$102K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $792K$849K−$57K−$878K 990 PDF
FY2024 $658K$707K−$49K−$814K 990 PDF
FY2023 $659K$665K−$6K−$765K 990 PDF
FY2022 Not on file
FY2021 $561K$654K−$93K−$640K 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 FY2025 990 (6 parts)
Part I · Summary $791,748 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $466,240$605,966
I-9 Program service revenuePrior year $173,312$173,024
I-10 Investment incomePrior year $17,927$12,737
I-11 Other revenuePrior year $539$21
I-12 Total revenuePrior year $658,018$791,748
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $160,981$191,550
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $546,143$657,491
I-18 Total expensesPrior year $707,124$849,041
I-19 Revenue less expensesPrior year −$49,106−$57,293
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $791,748 across 6 lines filed
VIII-1e Government grants$605,966
VIII-1h Total contributions, gifts and grants$605,966
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $173,024$173,024
VIII-3 Investment incomeExcluded from tax $12,737$12,737
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $21$21
VIII-12 Total revenueRelated to mission $173,045 · Unrelated business $0 · Excluded from tax $12,737$791,748
Part IX · Statement of functional expenses $849,041 across 10 lines filed
IX-7 Other salaries and wagesPrograms $191,550$191,550
IX-11a Management feesManagement $53,633$53,633
IX-11b Legal feesManagement $79$79
IX-11c Accounting feesManagement $24,682$24,682
IX-11g Other fees for servicesPrograms $1,856$1,856
IX-13 Office expensesPrograms $331 · Management $23,343$23,674
IX-16 OccupancyPrograms $345,245$345,245
IX-22 Depreciation, depletion and amortizationPrograms $124,630$124,630
IX-23 InsurancePrograms $53,611$53,611
IX-24 Other expenses (24a–d)Programs $30,081$30,081
IX-25 Total functional expensesPrograms $747,304 · Management $101,737 · Fundraising $0$849,041
Part X · Balance sheet $3,700,636 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $14,083$23,554
X-2 Savings and temporary cash investmentsStart of year $452,809$399,644
X-4 Accounts receivableStart of year $5,001$4,849
X-9 Prepaid expenses and deferred chargesStart of year $40,188$13,034
X-10c Land, buildings and equipment, netStart of year $3,246,989$3,259,555
X-16 Total assetsStart of year $3,759,070$3,700,636
X-17 Accounts payable and accrued expensesStart of year $125,345$132,014
X-25 Other liabilitiesStart of year $11,805$10,711
X-26 Total liabilitiesStart of year $4,572,950$4,578,525
X-27 Net assets without donor restrictionsStart of year −$813,880−$877,889
X-32 Total net assets or fund balancesStart of year −$813,880−$877,889
X-33 Total liabilities and net assetsStart of year $3,759,070$3,700,636
Part XI · Reconciliation of net assets −$877,889 net assets at year end
XI-1 Total revenue$791,748
XI-2 Total expenses$849,041
XI-3 Revenue less expenses−$57,293
XI-4 Net assets at start of year−$813,880
XI-8 Prior period adjustments−$6,716
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$877,889

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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