Civic Intelligence

Apt Foundation Inc

EIN 23-7061218 • 501(c)3 • New Haven, CT

Profile

To promote health and recovery for those who live with substance use disorders and/or mental illness.

1 Long Wharf DriveNew Haven, CT 06511

www.aptfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

53rd percentile

0.25x

Higher debt load relative to assets than 53% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

40th percentile

0.19x

Higher debt load relative to revenue than 40% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

53rd percentile

5.7%

Higher net margin than 53% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

81st percentile

19%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2024

Revenue Growth

50th percentile

6.9%

Faster revenue growth than 50% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2024

Assets

Up

$30,177,032

Up $4,577,812 (+18%) from 2023

Liabilities

Up

$7,489,948

Up $2,377,652 (+47%) from 2023

Net Assets

Up

$22,687,084

Up $2,200,160 (+11%) from 2023

Revenue

Down

$38,953,787

Down $2,933,408 (-7.0%) from 2023

Expenses

Up

$36,748,323

Up $1,086,258 (+3.0%) from 2023

Net Income

Down

$2,205,464

Down $4,019,666 (-65%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $5,377,227Liabilities 2010: $3,181,338Net Assets 2010: $2,195,8892010Assets 2011: $4,109,866Liabilities 2011: $1,628,522Net Assets 2011: $2,481,3442011Assets 2012: $3,782,226Liabilities 2012: $1,576,691Net Assets 2012: $2,205,5352012Assets 2013: $5,505,645Liabilities 2013: $2,809,538Net Assets 2013: $2,696,1072013Assets 2014: $9,797,114Liabilities 2014: $5,796,272Net Assets 2014: $4,000,8422014Assets 2015: $12,316,349Liabilities 2015: $5,934,830Net Assets 2015: $6,381,5192015Assets 2016: $16,626,442Liabilities 2016: $7,619,611Net Assets 2016: $9,006,8312016Assets 2017: $19,469,931Liabilities 2017: $9,048,690Net Assets 2017: $10,421,2412017Assets 2018: $20,238,887Liabilities 2018: $9,027,441Net Assets 2018: $11,211,4462018Assets 2019: $21,368,094Liabilities 2019: $9,859,332Net Assets 2019: $11,508,7622019Assets 2020: $21,129,344Liabilities 2020: $9,033,885Net Assets 2020: $12,095,4592020Assets 2021: $20,778,337Liabilities 2021: $7,576,577Net Assets 2021: $13,201,7602021Assets 2022: $21,404,749Liabilities 2022: $7,191,556Net Assets 2022: $14,213,1932022Assets 2023: $25,599,220Liabilities 2023: $5,112,296Net Assets 2023: $20,486,9242023Assets 2024: $30,177,032Liabilities 2024: $7,489,948Net Assets 2024: $22,687,0842024

Highlighted filing

2024

Assets$30,177,032
Liabilities$7,489,948
Net Assets$22,687,084

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0Expenses 2010: $18,082,6002010Expenses 2011: $18,831,4302011Expenses 2012: $19,669,2292012Expenses 2013: $20,032,1992013Revenue 2014: $22,401,254Expenses 2014: $21,014,700Net Income 2014: $1,386,5542014Revenue 2015: $25,956,116Expenses 2015: $23,540,214Net Income 2015: $2,415,9022015Revenue 2016: $28,172,782Expenses 2016: $25,320,626Net Income 2016: $2,852,1562016Revenue 2017: $28,776,664Expenses 2017: $27,602,686Net Income 2017: $1,173,9782017Revenue 2018: $31,604,038Expenses 2018: $30,868,301Net Income 2018: $735,7372018Revenue 2019: $31,477,807Expenses 2019: $30,870,588Net Income 2019: $607,2192019Revenue 2020: $31,589,668Expenses 2020: $30,674,844Net Income 2020: $914,8242020Revenue 2021: $33,170,752Expenses 2021: $32,307,199Net Income 2021: $863,5532021Revenue 2022: $34,071,289Expenses 2022: $33,427,640Net Income 2022: $643,6492022Revenue 2023: $41,887,195Expenses 2023: $35,662,065Net Income 2023: $6,225,1302023Revenue 2024: $38,953,787Expenses 2024: $36,748,323Net Income 2024: $2,205,4642024

Highlighted filing

2024

Revenue$38,953,787
Expenses$36,748,323
Net Income$2,205,464

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.2$7.49$22.7$39.0$36.7$2.21
2023Detailed filing. Detailed filing data is available for this year.$25.6$5.11$20.5$41.9$35.7$6.23
2022Detailed filing. Detailed filing data is available for this year.$21.4$7.19$14.2$34.1$33.4$0.64
2021Detailed filing. Detailed filing data is available for this year.$20.8$7.58$13.2$33.2$32.3$0.86
2020Detailed filing. Detailed filing data is available for this year.$21.1$9.03$12.1$31.6$30.7$0.91
2019Detailed filing. Detailed filing data is available for this year.$21.4$9.86$11.5$31.5$30.9$0.61
2018Detailed filing. Detailed filing data is available for this year.$20.2$9.03$11.2$31.6$30.9$0.74
2017Detailed filing. Detailed filing data is available for this year.$19.5$9.05$10.4$28.8$27.6$1.17
2016Detailed filing. Detailed filing data is available for this year.$16.6$7.62$9.01$28.2$25.3$2.85
2015Detailed filing. Detailed filing data is available for this year.$12.3$5.93$6.38$26.0$23.5$2.42
2014Detailed filing. Detailed filing data is available for this year.$9.80$5.80$4.00$22.4$21.0$1.39
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.51$2.81$2.70$20.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.78$1.58$2.21$19.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.11$1.63$2.48$18.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.38$3.18$2.20$18.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 30, 2025
Return Version
2023v6.0
Gross Receipts
$39,015,266
Mission and Program Overview

Mission

To promote health and recovery for those who live with substance use disorders and/or mental illness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,854,591$17,640,619▲ $2,786,028
Cash and Non-Interest-Bearing Accounts$4,313,536$6,483,038▲ $2,169,502
Accounts Receivable$1,236,038$1,332,264▲ $96,226
Pledges and Grants Receivable$739,268$581,262▼ $158,006
Prepaid Expenses and Deferred Charges$649,854$528,419▼ $121,435
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$25,599,220$30,177,032▲ $4,577,812
Other Assets Total$3,805,933$3,611,430▼ $194,503
Liabilities
Accounts Payable and Accrued Expenses$3,291,497$5,777,485▲ $2,485,988
Mortgage Notes Payable Secured by Investment Property$1,670,040$1,592,944▼ $77,096
Other Liabilities$150,304$118,319▼ $31,985
Deferred Revenue$455$1,200▲ $745
Total Liabilities$5,112,296$7,489,948▲ $2,377,652
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$20,486,924$22,687,084▲ $2,200,160
Total Net Assets Fund Balance$20,486,924$22,687,084▲ $2,200,160
Total Liabilities and Net Assets / Fund Balance$25,599,220$30,177,032▲ $4,577,812

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,570,747$5,298,483$18,869,230
Equipment$1,381,821$3,320,986$4,702,807
Other Land Buildings$1,630,922$0$1,630,922
Leasehold Improvements$1,057,129$0$1,057,129
Other Assets Org$3,611,430--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lynn MaddenCEOFT$317,839$53,024$370,863
Julia M ShiMedical Director Primary CareFT$230,384$58,015$288,399
Michelle MichaudCFO/TreasurerFT$193,651$26,194$219,845
Daniel IeadDirector Residential ServicesFT$124,356$48,210$172,566
Mary GiannottiAprnFT$133,660$37,270$170,930
Robert M FreemanDirector Clinical OperationsFT$126,546$36,158$162,704
Katherine DangeloAprnFT$146,450$7,835$154,285

Board Members and Trustees

NameTitle
Janet RyanBoard Chair
Jay BroderickBoard Vice Chair
Betty LevyDirector
David MargolisDirector
Fred ErskineDirector
Ismene PetrakisDirector
Lucille PatroneDirector
Mitchell GallignanoDirector
Valerie GoodkinSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Pustola & AssociatesConstruction & Maintenance Services26 Hotchkiss St 3rd Flr, Naugatuck, CT 06770$1,674,928
Environmental Engineering IncHeating Contractor100 Old Gate Lane, Milford, CT 06460$481,955
All American WasteWaste ManagementPO Box 1308, Enfield, CT 06083$159,490
Paulo Landscaping and Tree RemovalGeneral Contractor235 Old Tavern Rd, Orange, CT 06477$139,270
Revenue and Support

Revenue Composition

Contributions and Grants
$8,808,088
Program Service Revenue
$29,712,987
Investment Income
$154,224
Other Revenue
$278,488
All Other Contributions
$25,032
Change in Net Assets
$2,205,464

Audited Revenue Reconciliation

Revenue per Audited Statements
$39,015,266
Revenue Not Reported on Financial Statements
$-61,479
Revenue Not Reported on Form 990
$231,600
Other Revenue Adjustments
$-61,479
Total Revenue per Audited Statements
$39,246,866
Total Revenue per Form 990
$38,953,787
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$25,768,936
Other Expenses$10,979,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,825,556$2,896,101-$19,721,657
Office Expenses$2,675,998$1,130,982-$3,806,980
Other Employee Benefits$3,004,088$577,160-$3,581,248
Fees for Services Other$1,440,844$257,388$0$1,698,232
Occupancy$1,130,191$549,231-$1,679,422
Payroll Taxes$1,101,440$211,614-$1,313,054
Depreciation Depletion$483,242$464,939-$948,181
Current Officers, Directors, Trustees, and Key Employees$211,129$377,071-$588,200
Pension Plan Contributions$473,757$91,020-$564,777
All Other Expenses$189,930$339,210$0$529,140
Insurance$395,904$119,386-$515,290
Information Technology$134,570$240,338-$374,908
Travel$252,851$24,562-$277,413
Interest-$116,992-$116,992
Other Expenses$112,155$83,227-$112,155
Fees for Services Accounting-$82,975-$82,975
Fees for Services Legal-$51,210-$51,210
Advertising$13,855$24,745-$38,600
Total Functional Expenses$29,095,465$7,652,858$0$36,748,323

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$37,041,402
Expenses per Audited Statements$36,809,802
Total Expenses per Form 990$36,748,323
Expenses Not Reported on Form 990$231,600
Expenses Not Reported on Financial Statements$-61,479
Other Expense Adjustments$-61,479
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Workers Compensation Reserve$186,569
SWAP Liability$-68,250
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES

The organization uses 3rd party salary surveys to assist in determining the compensation of the cfo. The last review of the organization's cfo occurred in march 2024. This process is reviewed and approved by the ceo.

Form 990, Part VI, Line 1A Delegate broad authority to A committee

Pursuant to Article XI of the By-Laws, there shall be an executive committee consisting of the officers of the corporation, the president/CEO (nonvoting), and at least two but up to three other members of the board of directors as selected by the chairperson and approved by the board. During the intervals between meetings of the board of directors, the executive committee shall posses and may exercise all the power of the board of directors in the management of the affairs of the corporation, provided any action taken shall not conflict with the policies and expressed wishes of the board.

Form 990, Part VI, Line 4 Significant changes to organizational documents

The bylaws were amended with the following significant changes: 1. The number of board directors changed to not less than 5 and no more than 11. 2. The quorum changed from requiring 1/3 of voting directors to a majority of voting directors needed for quorum.

Form 990, Part VI, Line 11B Review of form 990 by governing body

A complete copy of the form 990 is first provided to the members of the audit and finance committee. The committee has a detailed discussion at their next scheduled meeting. A complete copy is then provided to the full board of directors for their review prior to filing.

Form 990, Part VI, Line 12C Conflict of interest policy

The organization requires all officers, directors and employees to complete a conflict of interest questionnaire annually. The completed forms are reviewed by the human resources department to identify any potential conflicts of interest. Any potential conflicts are further evaluated by the ceo and cfo, and if warranted, are brought to the attention of the board of directors for discussion and resolution. Similarly, any potential conflicts of interest that are brought to the attention of the organization by the outside auditors or by an employee or other person, are investigated and resolved in accordance with the procedures discussed above.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

THE ORGANIZATION USES 3RD PARTY SALARY SURVEYS TO ASSIST IN DETERMINING THE COMPENSATION OF THE CEO AND CFO. THE COMPENSATION OF THE CEO and CFO ARE DOCUMENTED AND APPROVED BY THE BOARD. THE LAST REVIEW OF THE ORGANIZATION'S CEO AND CFO SALARIES OCCURRED IN MARCH 2024.

Form 990, Part VI, Line 19 Required documents available to the public

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
APT Foundation Inc
EIN
23-7061218
Phone
2037814600
Address
1 Long Wharf Drive, New Haven, CT 06511

Signing Officer

Name
Michelle Michaud
Title
CFO/Treasurer
Signed
2025-04-30
Discuss with paid preparer
Yes

Organization Details

Formed
1970
Legal Domicile
Ct
Voting Board Members
9
Independent Board Members
9
Employees
381
Volunteers
11

Preparer

Firm
Crowe Llp
Address
2095 Lakeside Centre Way Suite 125, Knoxville, TN 37922-6647
Preparer
Will Smith
Phone
8656907975
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Change in interest rate swap obligation - -5304;

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Foundation is exempt from federal and state income taxes on exempt function income. The Foundation had no unrelated business taxable income for the years ended June 30, 2024 and 2023. The Foundation accounts for uncertain tax positions with provisions of FASB ASC 740, "Income Taxes" (FASB ASC 740), which provides a framework for how companies should recognize, measure, present and disclose uncertain tax positions within the financial statements. The Foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Foundation does not have any uncertain tax positions as of June 30, 2024 and 2023. The Foundation's policy is to include any penalties and interest associated with uncertain tax positions as a component of supporting services on the statements of operations and changes in net assets. As of June 30, 2024 and 2023, the Foundation did not record any penalties or interest associated with uncertain tax positions. All tax years from 2021 forward are open and subject to examination.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Intercompany rental income - 231600

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Rental expenses - -61479 -

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Intercompany rental income - 231600

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

RENTAL EXPENSES - -61479

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy3Grp/Desc0ADDICTION RESEARCH: THE APT FOUNDATION, WORKING IN COLLABORATION WITH THE CONNECTICUT MENTAL HEALTH CENTER AND THE YALE SCHOOL OF MEDICINE, HAS EARNED A REPUTATION FOR EXCELLENCE IN ADDICTION RESEARCH AS WELL AS TREATMENT. THROUGH RESEARCH PROGRAMS SUPPORTED BY STATE AND NATIONAL AGENCIES, SUCH AS THE NATIONAL INSTITUTE ON DRUG ABUSE (NIDA), THE APT FOUNDATION IS AT THE FOREFRONT OF ADDICTION RECOVERY BY DESIGNING TREATMENT PROGRAMS BASED ON RESEARCH OUTCOMES.
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