Civic Intelligence

Adelante Inc.

990 • Fiscal year 2016 • EIN 26-1407220

Jul 01, 2015 to Jun 30, 2016 • Filed on Aug 16, 2016

861A Broad StProvidence, RI 02907

(401) 941-2900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

90th percentile

0.95x

Higher debt load relative to assets than 90% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

7.87x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

11th percentile

-29%

Higher net margin than 11% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

54th percentile

$70,296

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 12.2% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

27th percentile

-3.6%

Faster asset growth than 27% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

40th percentile

-0.5%

Faster revenue growth than 40% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$4,780,918

Down $176,151 (-3.6%) from 2015

Net Assets

Down

$258,381

Down $167,126 (-39%) from 2015

Liabilities

Down

$4,522,537

Down $9,025 (-0.2%) from 2015

Revenue

Down

$574,628

Down $3,108 (-0.5%) from 2015

Expenses

Down

$741,754

Down $4,848 (-0.6%) from 2015

Net Income

Up

-$167,126

Up $1,740 (+1.0%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $5,245,494Liabilities 2011: $4,553,866Net Assets 2011: $691,6282011Assets 2012: $5,451,528Liabilities 2012: $4,563,387Net Assets 2012: $888,1412012Assets 2013: $5,318,899Liabilities 2013: $4,561,684Net Assets 2013: $757,2152013Assets 2014: $5,109,752Liabilities 2014: $4,515,439Net Assets 2014: $594,3132014Assets 2015: $4,957,069Liabilities 2015: $4,531,562Net Assets 2015: $425,5072015Assets 2016: $4,780,918Liabilities 2016: $4,522,537Net Assets 2016: $258,3812016Assets 2017: $4,537,458Liabilities 2017: $4,522,870Net Assets 2017: $14,5882017Assets 2018: $4,409,193Liabilities 2018: $4,542,976Net Assets 2018: -$133,7832018Assets 2019: $4,202,558Liabilities 2019: $4,559,901Net Assets 2019: -$357,3432019Assets 2020: $4,053,692Liabilities 2020: $4,600,678Net Assets 2020: -$546,9862020Assets 2021: $4,026,882Liabilities 2021: $4,667,082Net Assets 2021: -$640,2002021Assets 2023: $3,836,121Liabilities 2023: $4,600,895Net Assets 2023: -$764,7742023Assets 2024: $3,759,070Liabilities 2024: $4,572,950Net Assets 2024: -$813,8802024

Highlighted filing

2016

Assets$4,780,918
Liabilities$4,522,537
Net Assets$258,381

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $725,7642011Expenses 2012: $708,3042012Expenses 2013: $719,4462013Revenue 2014: $589,901Expenses 2014: $752,724Net Income 2014: -$162,8232014Revenue 2015: $577,736Expenses 2015: $746,602Net Income 2015: -$168,8662015Revenue 2016: $574,628Expenses 2016: $741,754Net Income 2016: -$167,1262016Revenue 2017: $575,496Expenses 2017: $820,452Net Income 2017: -$244,9562017Revenue 2018: $575,590Expenses 2018: $725,559Net Income 2018: -$149,9692018Revenue 2019: $583,547Expenses 2019: $807,107Net Income 2019: -$223,5602019Revenue 2020: $568,962Expenses 2020: $758,605Net Income 2020: -$189,6432020Revenue 2021: $560,880Expenses 2021: $654,094Net Income 2021: -$93,2142021Revenue 2023: $659,381Expenses 2023: $664,976Net Income 2023: -$5,5952023Revenue 2024: $658,018Expenses 2024: $707,124Net Income 2024: -$49,1062024

Highlighted filing

2016

Revenue$574,628
Expenses$741,754
Net Income-$167,126
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Aug 16, 2016
Return Version
2015v2.1
Gross Receipts
$574,628
Mission and Program Overview

Mission

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

To provide affordable housing in providence, rhode island for senior citizens and the disabled under section 202 of the national affordable housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,114,842$3,925,081▼ $189,761
Savings and Temporary Cash Investments$765,733$802,879▲ $37,146
Cash and Non-Interest-Bearing Accounts$52,691$32,476▼ $20,215
Prepaid Expenses and Deferred Charges$23,551$20,445▼ $3,106
Accounts Receivable$252$37▼ $215
Total Assets$4,957,069$4,780,918▼ $176,151
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,435,800$4,435,800→ $0
Accounts Payable and Accrued Expenses$86,436$77,153▼ $9,283
Other Liabilities$9,326$9,584▲ $258
Total Liabilities$4,531,562$4,522,537▼ $9,025
Net Assets / Fund Balance
Unrestricted Net Assets$425,507$258,381▼ $167,126
Total Net Assets Fund Balance$425,507$258,381▼ $167,126
Total Liabilities and Net Assets / Fund Balance$4,957,069$4,780,918▼ $176,151

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,005,050$1,204,770$4,209,820
Land$920,031-$920,031
Compensation and Service Providers

Employees

NameTitleOtherTotal
Jennifer HawkinsEx-president$70,296$70,296

Board Members and Trustees

NameTitle
Julia BushChair
James ComerPresident
Ashley HahnDirector
Barbara ColtDirector
Gladys BetancurDirector
Irwin BeckerDirector
Sue BarkerDirector
Michelle MckenziTreas and Sec
Revenue and Support

Revenue Composition

Contributions and Grants
$425,544
Program Service Revenue
$147,494
Investment Income
$1,590
Other Revenue
$0
Change in Net Assets
$-167,126

Audited Revenue Reconciliation

Revenue per Audited Statements
$574,628
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$574,628
Total Revenue per Form 990
$574,628
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$642,027
Salaries, Compensation, and Employee Benefits$99,727
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$338,823--$338,823
Depreciation Depletion$189,761--$189,761
Other Salaries and Wages$99,727--$99,727
Fees for Services Management$42,609--$42,609
Insurance$30,680--$30,680
Office Expenses$16,559--$16,559
Fees for Services Accounting$10,199--$10,199
Travel$2,011--$2,011
Fees for Services Legal$325--$325
Other Expenses$46--$46
Total Functional Expenses$741,754$0$0$741,754

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$741,754
Total Expenses per Audited Statements$741,754
Total Expenses per Form 990$741,754
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposit Liab$9,584
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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, Section B, Line 11

Form 990 is available for review by the governing board upon request.

Form 990, Part VI, Section B, Line 12C

The governing body adheres to the conflict of interest policy that is in place. This policy is reviewed periodically.

Form 990, Part VI, Section C, Line 19

The governing documents and form 990 are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Adelante Inc
EIN
26-1407220
Phone
4019412900
Address
861A BROAD ST, PROVIDENCE, RI 02907

Signing Officer

Name
James Comer
Title
President
Phone
4019412900
Signed
2016-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Comer
Formed
2008
Legal Domicile
Ri
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Damiano Burk & Nuttall Pc
Address
6 BLACKSTONE VALLEY PL STE 109, LINCOLN, RI 02865
Preparer
Kevin Burk
Phone
4013332880
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0427
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03352
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0147494
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0145564
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0140336
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0136115
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0140560
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0710069
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01590
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0327
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0210
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0798
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0427
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03352
IRS990ScheduleA/InvestmentIncomeCYPct00.00100
IRS990ScheduleA/InvestmentIncomePYPct00.00100
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99900
IRS990ScheduleA/PublicSupportPY509Pct00.99900
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0587722
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0904390
IRS990ScheduleA/Total509Grp/TotalAmt03232250
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0574628
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0577736
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0589901
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0588520
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0904817
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03235602
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt03005050
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01204770
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04209820
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0741754
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0920031
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0920031
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09584
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT LIAB
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0574628
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NONE
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03925081
IRS990ScheduleD/TotalExpensesPerForm990Amt0741754
IRS990ScheduleD/TotalLiabilityAmt09584
IRS990ScheduleD/TotalRevenuePerForm990Amt0574628
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0574628
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0741754
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS AVAILABLE FOR REVIEW BY THE GOVERNING BOARD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY ADHERES TO THE CONFLICT OF INTEREST POLICY THAT IS IN PLACE. THIS POLICY IS REVIEWED PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0222487344
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MANAGEMENT OF LOW INCOME HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0ACTIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0861A BROAD ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PROVIDENCE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0RI
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt042609
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt199727
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt26851
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2HOUSING OPPORTUNITIES CORPORATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0M
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1O
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04957069
IRS990/TotalAssetsEOYAmt04780918
IRS990/TotalAssetsGrp/BOYAmt04957069
IRS990/TotalAssetsGrp/EOYAmt04780918
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0425544
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0741754
IRS990/TotalFunctionalExpensesGrp/TotalAmt0741754
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04531562
IRS990/TotalLiabilitiesEOYAmt04522537
IRS990/TotalLiabilitiesGrp/BOYAmt04531562
IRS990/TotalLiabilitiesGrp/EOYAmt04522537
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0425507
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0258381
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0741754
IRS990/TotalProgramServiceRevenueAmt0147494

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.76$4.57$0.81$0.66$0.71$0.05
2023Detailed filing. Detailed filing data is available for this year.$3.84$4.60$0.76$0.66$0.66$0.01
2021Detailed filing. Detailed filing data is available for this year.$4.03$4.67$0.64$0.56$0.65$0.09
2020Detailed filing. Detailed filing data is available for this year.$4.05$4.60$0.55$0.57$0.76$0.19
2019Detailed filing. Detailed filing data is available for this year.$4.20$4.56$0.36$0.58$0.81$0.22
2018Detailed filing. Detailed filing data is available for this year.$4.41$4.54$0.13$0.58$0.73$0.15
2017Detailed filing. Detailed filing data is available for this year.$4.54$4.52$0.01$0.58$0.82$0.24
2016Detailed filing. Detailed filing data is available for this year.$4.78$4.52$0.26$0.57$0.74$0.17
2015Detailed filing. Detailed filing data is available for this year.$4.96$4.53$0.43$0.58$0.75$0.17
2014Detailed filing. Detailed filing data is available for this year.$5.11$4.52$0.59$0.59$0.75$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.32$4.56$0.76$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.45$4.56$0.89$0.71
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.25$4.55$0.69$0.73