Codac Inc
- Assets
- $10.0m
- Revenue
- $18.3m
- Investments
- $0.0
- Employees
- 246
- Location
- Cranston, RI
- Founding
- 05/1991
- Data as of
- 06/2022
- EIN
- 05-0414696
Organization Overview
Codac Inc is located in Cranston, RI. The organization was established in 1991. According to its NTEE Classification (F22) the organization is classified as: Substance Abuse Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 06/2022, Codac Inc employed 246 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Codac 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 06/2022, Codac Inc generated $18.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $17.7m during the year ending 06/2022. While expenses have increased by 10.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE HIGHEST STANDARD OF BEHAVIORAL HEALTH SERVICES IN A RECOVERY ORIENTED SYSTEM OF CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE METHADONE MAINTENANCE PROGRAM IS A MEDICATED ASSISTED TREATMENT CENTER WHICH PROVIDED SERVICES TO APPROXIMATELY 4,550 PATIENTS THROUGHOUT THE YEAR.
THE SUBSTANCE ABUSE TREATMENT IS A GENERAL OUTPATIENT TREATMENT PROGRAM WHICH PROVIDED SERVICES TO APPROXIMATELY 1,945 PATIENTS THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Delsesto Chair | OfficerTrustee | 2 | $0 |
Ian Knowles Vice-Chair | OfficerTrustee | 2 | $0 |
Kenneth Sepe Treasurer | OfficerTrustee | 2 | $0 |
Noah Benedict Secretary | OfficerTrustee | 2 | $0 |
Michael Farina Director | Trustee | 2 | $0 |
Joseph Kettelle Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,614,695 |
| All other contributions, gifts, grants, and similar amounts not included above | $497,825 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,112,520 |
| Total Program Service Revenue | $12,120,320 |
| Investment income | -$15,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,326,322 |
| 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. | $349,796 |
| Compensation of current officers, directors, key employees. | $349,796 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,550,934 |
| Pension plan accruals and contributions | $144,848 |
| Other employee benefits | $877,462 |
| Payroll taxes | $739,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,129 |
| Fees for services: Accounting | $42,969 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $48,245 |
| Office expenses | $116,145 |
| Information technology | $376,783 |
| Royalties | $0 |
| Occupancy | $504,835 |
| Travel | $22,921 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,606 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $239,740 |
| Insurance | $324,230 |
| All other expenses | $1,495,924 |
| Total functional expenses | $17,695,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,483,560 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,653,776 |
| 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 | $265,143 |
| Net Land, buildings, and equipment | $3,389,464 |
| Investments—publicly traded securities | $136,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $30,375 |
| Other assets | $0 |
| Total assets | $9,958,678 |
| Accounts payable and accrued expenses | $1,186,194 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,686,194 |
| Net assets without donor restrictions | $7,272,484 |
| Net assets with donor restrictions | $0 |
| 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 | $9,958,678 |