Adec INC EIN 35-1060633

Adec INC

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Advocates for and serves people with developmental and intellectual disabilities. For fiscal year 2025 it reported $24.0M in revenue, $24.4M in expenses, and $41.4M in net assets.Pt I

Founded
1952
Type
Public charity (501(c)(3)) · Human Services
Location
Bristol, IN
Website
www.adecinc.com
Filings
5 on file (2021–2025)
Revenue
$24.0MFY2025
Expenses
$24.4M
Net assets
$41.4M
People
19
Filings
5
Updates
0
More identity details & actions ⌄
EIN  35-1060633 Public charity (501(c)(3)) Bristol, IN Founded 1952
Form 990 (PDF)
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Figures match the IRS filing checked 8/9/26 · see original: IRS
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Size
$10–100M
What they do
Advocates for and serves people with developmental and intellectual disabilities.
Leadership
Chris Kingsley · President/CEO · $186K
Money in and out
$24.0M revenue, $24.4M expenses
Bottom line
88% program efficiency
Where the money goes · FY2025
Total revenue
$24.0M
Pt VIII · Ln 12
Total expenses
$24.4M
Pt IX · Ln 25
Net assets
$41.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$377K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.12
Program efficiency
88%
of spending reaches programs▲ +1% vs prior filing year
Operating runway
14.3mo
months of highly liquid reserves at operating expense rate▼ -11% vs prior filing year
Surplus margin
-2%
revenue over expenses, this year▼ -164% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$24.0M
FY2025▲ +4%
Expenses
$24.4M
FY2025▲ +8%
Total assets
$44.2M
FY2025▲ +6%
Total liabilities
$2.8M
FY2025▲ +36%
Total revenue
$24.0M
Pt VIII · Ln 12
Total expenses
$24.4M
Pt IX · Ln 25
Net assets
$41.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$377K
Total assetsPt X · Ln 16$44.2M
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

3 program services account for $21.0M of program spending, described in the organization's own filed words · FY2024.
01

Residential services includes supervised group living and supported living services. Both serve adults with intellectual disabilities in either a group home setting or their own home or apartment with the support of trained staff assistance. Adec's group residences are located in community neighborhoods.

$14.9Mprogram expense
02

Adult training and vocational services include employment services, adult habilitation and integrated community employment at adec industries. At adec, we promote choice and possibility by providing quality employment services for individuals experiencing life with a disability or barrier.

$5.1Mprogram expense
03

Transportation services in elkhart county are provided to adec day services clients who live at home and use services at the elkhart and bristol campuses, as well as our goshen and middlebury day service locations. Group home.

$1.0Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAdec INC
EINHdr · item D35-1060633
Principal addressHdr · item CBristol, IN
WebsiteHdr · item Jwww.adecinc.com
Year of formationHdr · item L1952
State of legal domicileHdr · item MIN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P80)
Ruling yearIRS BMFJun 1953

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President/CEO
$185,612Pt VII · Sec A
VP/Chief Program Officer
$123,648Pt VII · Sec A
VP Human Resources
$117,214Pt VII · Sec A
$114,153Pt VII · Sec A
Director-Supported Living
$102,982Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Chris Kingsley’s $186K as President/CEO is at the 37th percentile of top reported officer pay among 3123 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Donna L Belusar$195,219$180,843$183,172
Chris Kingsley$185,612
Chris Kingsley$164,018
Michelle McGuin$123,648
Michelle McGuin$120,512$110,336$104,630
Lisa Kendall$117,214
Tim Donlin$114,153
Lisa Kendall$113,467$111,743$108,390

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$20.6M · 86%
Contributions & grants$1.9M · 8%
Investment income$884K · 4%
Other revenue$570K · 2%
Program service revenue86%$20.6M
Contributions & grants8%$1.9M
Investment income4%$884K
Other revenue2%$570K
Total revenueLn 12$24.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.12
Program services88%$21.6M
Management & general12%$2.8M
Total functional expensesLn 25$24.4M

Balance Sheet

Part X · end of year
CashLn 1$2.0M
Total assetsLn 16$44.2M
Total liabilitiesLn 26$2.8M
Total net assetsLn 32$41.4M
Months of cash on handcomputed1.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $29.1M · Operating expenses (Pt IX) $24.4M · Less non-cash grants $36K · Cash operating expenses/yr $24.4M
14.3 months
Where the money goes
Program services
Program services $21.6M · Total expenses $24.4M
88%
Management & General
Management & general $2.8M · Total expenses $24.4M
12%
Fundraising
Fundraising $0 · Total expenses $24.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $19K · Solicited contributions (3-yr avg) $1.1M
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.9M · Total revenue $24.0M
8%
Government reliance
Government grants — · Total revenue $24.0M
Earned-income share
Program service revenue $20.6M · Total revenue $24.0M
86%
Investment reliance
Investment income $884K · Total revenue $24.0M
+4%
Program self-sufficiency
Program service revenue $20.6M · Total expenses $24.4M
85%
Growth & trend
Revenue growth (YoY)
This year $24.0M · Prior year $23.1M
+4%
Revenue CAGR
FY2020 $22.0M · FY2024 $24.0M
+2%
Net-asset trend (YoY)
End of year $41.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $24.0M · Expenses $24.4M
-2%
Liabilities-to-Assets
Total liabilities — · Total assets $44.2M
Net-asset ratio
Net assets $41.4M · Total assets $44.2M
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $27.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $44.2M
61%
People & payroll
Highest Reported Total Compensation
Individual Chris Kingsley · Reported title PRESIDENT/CEO · Highest reported compensation $186K · Total expenses $24.4M
0.8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $18.4M · Total expenses $24.4M
75%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 12%
Fundraising cost ratio 0%
Revenue growth 4%
Legal fee ratio 0.02%
Accounting fee ratio 0.6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 8 funders →
Grants paid · 1 grant · $10K · 2020–2020
The Arc of Indiana INCIN · FY2020$10,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$24.0M revenue · viewing · ⤓ 990 PDF
FY2024$23.1M revenue · ⤓ 990 PDF
FY2023$21.7M revenue · ⤓ 990 PDF
FY2022$22.0M revenue · ⤓ 990 PDF
FY2021$22.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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