GREATER WORCESTER COMMUNITY FOUNDA… - Form 990 Financial Data

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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

1975

Legal Domicile

Principal Officer

PETER DUNN

Phone

5087550980

Tax Period

2023-01-01 to 2023-12-31

GREATER WORCESTER COMMUNITY FOUNDATION INC, founded in 1975, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $13.7M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $13.0M left a modest 6% surplus.

Mission

GREATER WORCESTER COMMUNITY FOUNDATION'S MISSION IS TO BUILD HEALTHY AND VIBRANT COMMUNITIES IN CENTRAL MASSACHUSETTS. THE FOUNDATION WORKS WITH DONORS, BUILDS CHARITABLE ENDOWMENTS, AND PROVIDES SUPPORT TO NONPROFITS IN THE AREA.

Program Service Accomplishments

Program 1

Expenses: $4,453,823 Revenue: $313,721

DONOR ADVISED AND DESIGNATED GRANTMAKING: FORMALLY STRUCTURED TO ENABLE THE DONOR TO SUGGEST SPECIFIC GRANTS FROM FUNDS. INCLUDES FUNDS ESTABLISHED AS ENDOWMENTS FOR SPECIFIC AGENCIES. ALSO INCLUDES GRANTING FROM FUNDS ESTABLISHED BY NON-PROFIT ORGANIZATIONS FOR THEIR OWN BENEFIT (AGENCY FUNDS).

Program 2

Expenses: $3,076,735

DISCRETIONARY AND FIELD OF INTEREST GRANTMAKING: DISCRETIONARY FUNDS HAVE NO EXTERNAL RESTRICTIONS ON THEIR GRANT PURPOSE. FIELD OF INTEREST FUNDS SUPPORT A CLASS OF CHARITABLE BENEFICIARIES. SUCH...

DISCRETIONARY AND FIELD OF INTEREST GRANTMAKING: DISCRETIONARY FUNDS HAVE NO EXTERNAL RESTRICTIONS ON THEIR GRANT PURPOSE. FIELD OF INTEREST FUNDS SUPPORT A CLASS OF CHARITABLE BENEFICIARIES. SUCH GRANTS ARE AWARDED THROUGH COMPETITIVE PROCESSES, REQUIRING APPLICATIONS AND PROGRESS REPORTS TO BE SUBMITTED.

Program 3

Expenses: $3,638,659 Revenue: $12,077

OTHER PROGRAM SERVICES INCLUDE: COMMUNITY LEADERSHIP SERVICES, NON-PROFIT MANAGEMENT TRAININGS, DONOR EDUCATION, AND OTHER.

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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 $11,134,837

Program Service Revenue $313,721

Investment Income $2,268,584

Other Revenue $12,077

TOTAL REVENUE $13,729,219

Expense Breakdown

Grants Paid $8,876,784

Salaries & Benefits $1,417,410

Fundraising Expenses $837,902

Program Expenses $11,169,217

Other Expenses $2,660,270

TOTAL EXPENSES $12,954,464

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,729,219	$20,277,510	-0.3%
Expenses	$12,954,464	$11,792,882	+0.1%
Net Income	$774,755	$8,484,628	-0.9%

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

Volunteers

308

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

$565,417

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS J BARTHOLOMEW	CHAIR	2.00	Officer Director	$0	$0	$0
SATYA B MITRA	CHAIR ELECT	2.00	Officer Director	$0	$0	$0
MARIA A HESKES-ALLARD	TREASURER	1.00	Officer Director	$0	$0	$0
JOYCELYN AUGUSTUS	CLERK	2.00	Officer Director	$0	$0	$0
JENNIFER DAVIS CAREY	DIRECTOR	1.00	Director	$0	$0	$0
MIKE ANGELINI	DIRECTOR	2.00	Director	$0	$0	$0
LINDA CAMMUSO	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER W MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
SONIA PAULINO	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY M SALMON	DIRECTOR	1.00	Director	$0	$0	$0
ERIC TORKORNOO	DIRECTOR	1.00	Director	$0	$0	$0
CHE ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
GERMAN CHIRIBOGA	DIRECTOR	1.00	Director	$0	$0	$0
RONALD WADDELL	DIRECTOR	1.00	Director	$0	$0	$0
VALERIE ZOLEZZI-WYNDHAM	DIRECTOR	1.00	Director	$0	$0	$0
NAOMI SLEEPER	DIRECTOR	1.00	Director	$0	$0	$0
ANN TRIPP	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS F KERRIGAN	DIRECTOR	1.00	Director	$0	$0	$0
MARYBETH CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
KOLA AKINDELE	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN COHEN	VICE PRESIDENT COMMUNITY IMPACT	37.50	Officer	$119,392	$27,376	$146,768
KELLY STIMSON	VP PHILANTHROPY	37.50	Officer	$132,054	$14,405	$146,459
DIANE ALLAIN	VP OF FINANCE & ADMIN	37.50	Officer	$117,674	$13,749	$131,423
PETER DUNN	PRESIDENT & CEO	37.50	Officer	$134,472	$6,295	$140,767

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	No data	No data	No data	No data
2023	$13,729,219	$12,954,464	$206,196,649	$774,755
2022	$20,277,510	$11,792,882	$175,495,578	$8,484,628
2021	$22,847,423	$16,023,982	$200,476,252	$6,823,441
2020	$18,119,705	$18,282,158	$180,066,157	$-162,453
2019	$10,805,533	$10,609,386	$167,101,551	$196,147

GREATER WORCESTER COMMUNITY FOUNDATION INC