Concord Friends of the Aging Corp

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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

1981

Legal Domicile

Principal Officer

Tracy Miles

Phone

9783418853

Tax Period

2023-01-01 to 2023-12-31

Concord Friends of the Aging Corp, founded in 1981, is a micro nonprofit that reported $46K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $12K, a strong 27% operating margin.

Mission

Support the Senior Citizens of Concord Massachusetts.

Program Service Accomplishments

Program 1

Expenses: $23,400 Revenue: $0

Meals, entertainment and gifts for the elderly, especially at Christmas.

Program 2

Expenses: $2,100 Revenue: $0

Support for Concord, MA Council on Aging (COA) activities by providing food and equipment; providing for lecturers for general education and wellness advice; postage for monthly newsletter to elders; enhancement of the Senior Center environment; sponsoring events and trips partially supported by participants. Purchase of wheel chair van donated to the Town of Concord, Council on Aging.

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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 $12,900

Program Service Revenue $0

Investment Income $33,000

Other Revenue $0

TOTAL REVENUE $45,900

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $4,400

Program Expenses $25,500

Other Expenses $33,400

TOTAL EXPENSES $33,400

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,900	$38,600	+0.2%
Expenses	$33,400	$20,500	+0.6%
Net Income	$12,500	$18,100	-0.3%

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

250

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Benn Michael	President	10.00	Officer	$0	$0	$0
Arena III John	Vice President	10.00	Officer	$0	$0	$0
Miles Tracy	Treasurer/Clerk	10.00	Officer	$0	$0	$0
Jeans Rosemary	Clerk	4.00	Officer	$0	$0	$0
D'Ambrosio Pamela	Director	N/A	Director	$0	$0	$0
Norton Robert	Director	N/A	Director	$0	$0	$0
Leary Jean	Director	1.00	Director	$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	No data	No data	No data	No data
2023	$45,900	$33,400	$956,500	$12,500
2022	$38,600	$20,500	$834,100	$18,100
2021	$65,400	$6,600	$977,900	$58,800
2021	$14,800	$13,400	$908,100	$1,400
2020	$37,400	$24,500	$721,100	$12,900
2019	$61,200	$31,400	$712,400	$29,800