The Providence Center Inc
- Assets
- $30.4m
- Revenue
- $52.4m
- Investments
- $0.0
- Employees
- 606
- Location
- Providence, RI
- Founding
- 02/1972
- Data as of
- 09/2023
- EIN
- 05-0316969
Organization Overview
The Providence Center Inc is located in Providence, RI. The organization was established in 1972. According to its NTEE Classification (F32) the organization is classified as: Community Mental Health Centers, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 09/2023, Providence Center Inc employed 606 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Providence Center Inc generated $52.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $50.5m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PERSON CENTERED, RECOVERY FOCUSED TREATMENT AND SUPPORTIVE SERVICES AND AS A MEMBER OF CARE NEW ENGLAND HEALTH SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E Fanale MD Trst-Prs/ceo/cne(term 12/1/22) | OfficerTrustee | 55 | $0 |
F Joseph Iannoni Trst-Evp/cfo/cne(term 1/31/23) | OfficerTrustee | 55 | $0 |
Mary Marran Trustee - President | OfficerTrustee | 55 | $0 |
James K Sullivan MD PHD Trustee-Svp/cmo(term 12/24/22) | OfficerTrustee | 55 | $0 |
Marygene Santa Teresa MD Psychiatrist | 55 | $250,813 | |
Stephen E Burke VP Of Finance | Officer | 55 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Care New England Health System Management | 9/29/19 | $1,853,033 |
Performance Environmental Services Cleaning/maintenance | 9/29/19 | $155,585 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $253,684 |
| Related organizations | $0 |
| Government grants | $1,742,638 |
| All other contributions, gifts, grants, and similar amounts not included above | $965,466 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,961,788 |
| Total Program Service Revenue | $48,441,690 |
| Investment income | $32,383 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $464,260 |
| Net Gain/Loss on Asset Sales | $21,789 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,358,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $377,489 |
| Compensation of current officers, directors, key employees. | $37,749 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,418,440 |
| Pension plan accruals and contributions | $1,112,983 |
| Other employee benefits | $3,982,272 |
| Payroll taxes | $2,508,398 |
| Fees for services: Management | $2,899,992 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $480,902 |
| Advertising and promotion | $500 |
| Office expenses | $623,152 |
| Information technology | $4,109 |
| Royalties | $0 |
| Occupancy | $1,651,931 |
| Travel | $292,142 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,431 |
| Interest | $306,387 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,126,703 |
| Insurance | $1,154,704 |
| All other expenses | $193,064 |
| Total functional expenses | $50,461,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,880 |
| Savings and temporary cash investments | $9,676,521 |
| Pledges and grants receivable | $2,006,275 |
| Accounts receivable, net | $3,298,890 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $66,976 |
| Net Land, buildings, and equipment | $11,604,686 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,946,504 |
| Intangible assets | $0 |
| Other assets | $1,801,340 |
| Total assets | $30,408,072 |
| Accounts payable and accrued expenses | $3,437,866 |
| Grants payable | $0 |
| Deferred revenue | $3,622,883 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $862,148 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,184,691 |
| Total liabilities | $10,107,588 |
| Net assets without donor restrictions | $16,698,229 |
| Net assets with donor restrictions | $3,602,255 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,408,072 |