WELLESLEY STUDENTS AID SOCIETY 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

1878

Legal Domicile

Principal Officer

CATHERINE KEFALAS

Phone

7812832292

Tax Period

2022-07-01 to 2023-06-30

WELLESLEY STUDENTS AID SOCIETY INC, founded in 1878, is a small nonprofit in the Education sector that reported $560K in total revenue in fiscal year 2022. Revenue fell 83% from the prior year — a significant decline worth monitoring. Expenses of $1.6M exceeded revenue, resulting in a 177% operating deficit.

Mission

THE WELLESLEY STUDENTS' AID SOCIETY, INC. IS AN ORGANIZATION DEDICATED TO PROVIDING FINANCIAL AND PERSONAL SUPPORT TO WELLESLEY STUDENTS. STUDENTS RECEIVE AID IN MANY WAYS, FROM TUITION GRANTS AND LOANS ADMINISTERED BY STUDENT FINANCIAL SERVICES, TO EMERGENCY AID, AMAZON.COM GIFT CARDS, SHORT-TERM LOANS AND SENIOR GIFTS THAT ARE DISTRIBUTED DIRECTLY TO STUDENTS WHEN THEY COME TO THE STUDENTS' AID SOCIETY OFFICE. FLEXIBILITY ENABLES THE SOCIETY TO RESPOND TO STUDENTS' NEEDS AS THEY CHANGE OVER THE YEARS.

Program Service Accomplishments

Program 1

Expenses: $1,270,428 Revenue: $20,980

FOR OVER 100 YEARS WSAS HAS REMAINED DEDICATED TO GIVING WELLESLEY COLLEGE STUDENTS THE FINANCIAL FREEDOM TO SUCCEED IN COLLEGE AND BEYOND. DURING FISCAL YEAR 2023, WSAS PROVIDED VITAL TUITION...

FOR OVER 100 YEARS WSAS HAS REMAINED DEDICATED TO GIVING WELLESLEY COLLEGE STUDENTS THE FINANCIAL FREEDOM TO SUCCEED IN COLLEGE AND BEYOND. DURING FISCAL YEAR 2023, WSAS PROVIDED VITAL TUITION SUPPORT FOR 869 STUDENTS WITH $760,000 IN TUITION GRANTS AND $242,916 IN TUITION LOANS. THROUGH THE WSAS' STUDENT SERVICES GRANTS PROGRAM, WSAS AWARDED $61,712 IN GRANTS TO COLLEGE DEPARTMENTS TO AID FUNDING OF DEPARTMENT-SPECIFIC PROGRAMMING FOR STUDENTS. WSAS ALSO PROVIDED $20,464 IN SHORT-TERM LOANS AND $32,030 IN GRANTS FOR STUDENTS FACING AN EMERGENCY OR UNEXPECTED EXPENSES. FOR STUDENTS ON FINANCIAL AID, WSAS AWARDED $20,000 IN WINTER CLOTHING GRANTS (200 STUDENTS), $150,000 IN AMAZON.COM GIFT CARDS (1,500 STUDENTS), AND $31,900 IN SENIOR COMMENCEMENT GIFTS (319 STUDENTS). IN THESE AND MANY OTHER WAYS, WSAS OPENS THE POSSIBILITY OF A WELLESLEY COLLEGE EDUCATION TO SMART, DEDICATED STUDENTS OF ALL MEANS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $530,704

Program Service Revenue $20,980

Investment Income $8,019

Other Revenue $0

TOTAL REVENUE $559,703

Expense Breakdown

Grants Paid $1,057,199

Salaries & Benefits $312,136

Fundraising Expenses $34,971

Program Expenses $1,270,428

Other Expenses $180,672

TOTAL EXPENSES $1,550,007

Year-over-Year Comparison

	2022	2021	Change
Revenue	$559,703	$3,253,513	-0.8%
Expenses	$1,550,007	$1,567,395	0.0%
Net Income	$-990,304	$1,686,118	-1.6%

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

N/A

Volunteers

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

$146,188

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMIE SABINO	PRESIDENT	2.00	Officer Director	$0	$0	$0
DENISE ROBBI-ARENA	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
TANYA M ROY	TREASURER	1.00	Officer Director	$0	$0	$0
DANA SUNDBLAD	SECRETARY	1.00	Officer Director	$0	$0	$0
RAJA ASHRAF	DIRECTOR	0.50	Director	$0	$0	$0
BETH BERNHARDT	DIRECTOR	0.50	Director	$0	$0	$0
STANLEY CHANG	DIRECTOR	0.50	Director	$0	$0	$0
EILEEN CREHAN	DIRECTOR	0.50	Director	$0	$0	$0
MICHELLE SHELLEY DOWLING COBB	DIRECTOR	0.50	Director	$0	$0	$0
ESTHER HAN SILVER	DIRECTOR	0.50	Director	$0	$0	$0
HEATHER KISPERT HAGERTY	DIRECTOR	0.50	Director	$0	$0	$0
RACHEL LAM	DIRECTOR	0.50	Director	$0	$0	$0
IRENE MATA	DIRECTOR	0.50	Director	$0	$0	$0
TESS MATTERN	DIRECTOR	0.50	Director	$0	$0	$0
ANHAR MULLA	DIRECTOR	0.50	Director	$0	$0	$0
CATHERINE KEFALAS	EXECUTIVE DIRECTOR	35.00	Officer	$120,885	$25,303	$146,188

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$559,703	$1,550,007	$44,437,094	$-990,304
2022	$3,253,513	$1,567,395	$41,290,339	$1,686,118
2021	$13,651,652	$1,564,708	$47,178,569	$12,086,944
2020	$2,590,047	$1,431,024	$37,445,836	$1,159,023
2019	$2,027,817	$1,278,367	$37,909,795	$749,450