Aroostook Area Agency on Aging Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1973

Legal Domicile

Principal Officer

Joy Barresi Saucier

Phone

2077643396

Tax Period

2023-10-01 to 2024-09-30

Aroostook Area Agency on Aging Inc, founded in 1973, is a community nonprofit in the Human Services sector that reported $6.1M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $5.9M left a modest 4% surplus.

Mission

To act as a non-profit agency for the planning, administration, sponsorship, operation, and coordination of programs to enhance the welfare, independence, and well-being of the aging population, including older people, those with disabilities, their caregivers, and the general public, throughout Aroostook County.

Program Service Accomplishments

Program 1

Expenses: $5,435,348 Revenue: $2,149,352

Social services and other programs to provide food, advocacy, transportation, legal, and other services to assist the elderly citizens in Northern Maine.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,983,847

Program Service Revenue $2,197,904

Investment Income $331

Other Revenue $-42,891

TOTAL REVENUE $6,139,191

Expense Breakdown

Grants Paid $301,032

Salaries & Benefits $3,819,522

Fundraising Expenses $0

Program Expenses $5,435,348

Other Expenses $1,784,972

TOTAL EXPENSES $5,905,526

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,139,191	$4,674,584	+0.3%
Expenses	$5,905,526	$4,844,986	+0.2%
Net Income	$233,665	$-170,402	-2.4%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

140

Volunteers

301

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$197,961

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew Birden	Director	1.00	Director	$0	$0	$0
Kathie Davis	Director	1.00	Director	$0	$0	$0
George Dionne	Director (end 1/2024)	1.00	Director	$0	$0	$0
Mary Harbison	Director (start 11/2023)	1.00	Director	$0	$0	$0
David Jones	Director (end 10/2023)	1.00	Director	$0	$0	$0
Debbie Jones	Director (start 4/2024)	1.00	Director	$0	$0	$0
Alva King	Director	1.00	Director	$0	$0	$0
Roger Lagasse	Director (start 11/2023)	1.00	Director	$0	$0	$0
Linda Nadeau	Director (end 11/2023)	1.00	Director	$0	$0	$0
Keith MacKenzie	Director	1.00	Director	$0	$0	$0
Dottie Martin	Director (start 11/2023)	1.00	Director	$0	$0	$0
Patricia McCain	Director	1.00	Director	$0	$0	$0
Robert Meinders	Director	1.00	Director	$0	$0	$0
Donald Raymond	Director	1.00	Director	$0	$0	$0
Rev Kenneth Phelps	President (end 10/2023); Director	1.00	Officer Director	$0	$0	$0
Barbara Robertson	VP (end 10/23); Pres. (start 11/23)	1.00	Officer Director	$0	$0	$0
Walter Elliott Jr	Dir.; Vice Pres. (start 11/2023)	1.00	Officer Director	$0	$0	$0
Durward Huffman	Treasurer	1.00	Officer Director	$0	$0	$0
Mary Anne Buck	Secretary	1.00	Officer Director	$0	$0	$0
Joy Barresi-Saucier	Executive Director	40.00	Officer	$97,465	$27,213	$124,678
Clint Deschene	Finance Director (end 6/2024)	40.00	Officer	$71,346	$1,937	$73,283
Brad Turner	Finance Director (start 8/2024)	40.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$6,139,191	$5,905,526	$2,271,401	$233,665
2023	$4,674,584	$4,844,986	$1,828,064	$-170,402
2022	$4,343,500	$4,573,398	$1,828,194	$-229,898
2021	$4,133,550	$4,328,399	$1,409,840	$-194,849
2020	$4,076,851	$3,835,138	$2,089,670	$241,713
2019	$3,546,771	$3,550,986	$1,458,824	$-4,215
2018	$3,300,468	$3,288,467	$1,469,603	$12,001