MEALS ON WHEELS OF RI INC (EIN 050340723) - Form 990 Financial Analysis & Trantor Score

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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

1969

Legal Domicile

Principal Officer

MEGHAN GRADY

Phone

4013516700

Tax Period

2023-01-01 to 2023-12-31

MEALS ON WHEELS OF RI INC, founded in 1969, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $5.8M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 27% operating margin.

Mission

TO MEET THE NUTRITIONAL AND OTHER SPECIAL NEEDS OF OLDER ADULTS AND OTHER ELIGIBLE POPULATIONS IN ORDER TO HELP THEM MAINTAIN THEIR INDEPENDENT LIFESTYLES. OUR IMPACT IS EVIDENCED BY THE NUMBER OF CLIENTS SERVED BY OUR HOME-DELIVERED AND CONGREGATE MEAL PROGRAMS. IN TOTAL, MORE THAN 2,900 SENIORS AND OTHERS LIVING WITH DISABILITIES BENEFITTED FROM OUR PROGRAMS DURING THE YEAR.

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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 $4,820,736

Program Service Revenue $765,492

Investment Income $121,743

Other Revenue $90,764

TOTAL REVENUE $5,798,735

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,219,403

Fundraising Expenses $224,772

Program Expenses $3,290,903

Other Expenses $2,996,566

TOTAL EXPENSES $4,215,969

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,798,735	$4,812,812	+0.2%
Expenses	$4,215,969	$3,720,616	+0.1%
Net Income	$1,582,766	$1,092,196	+0.4%

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

Volunteers

371

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

$205,256

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COREY MCCARTY	CHAIR	4.00	Officer Director	$0	$0	$0
MEGAN HERNE	VICE CHAIR	4.00	Officer Director	$0	$0	$0
CHRISTINA PITNEY	TREASURER	4.00	Officer Director	$0	$0	$0
JACLYN COTTER	SECRETARY	4.00	Officer Director	$0	$0	$0
LAUREN AMARAL	BOARD MEMBER	2.00	Director	$0	$0	$0
DR MARYLOU BUYSE	BOARD MEMBER	2.00	Director	$0	$0	$0
TED FISHER	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMES JOLY	BOARD MEMBER	2.00	Director	$0	$0	$0
KRISTIN MATSKO ESQ	BOARD MEMBER	2.00	Director	$0	$0	$0
GISELLE MAHONEY FROM 0623	BOARD MEMBER	2.00	Director	$0	$0	$0
STEPHANIE MCCAFFREY TILL 1123	BOARD MEMBER	2.00	Director	$0	$0	$0
KEVIN MILLONZI	BOARD MEMBER	2.00	Director	$0	$0	$0
JOCELYN NACCI	BOARD MEMBER	2.00	Director	$0	$0	$0
ELIZABETH PHILLIPS ESQ	BOARD MEMBER	2.00	Director	$0	$0	$0
PHANIDA PHIVILAY	BOARD MEMBER	2.00	Director	$0	$0	$0
JOE ROTELLA	BOARD MEMBER	2.00	Director	$0	$0	$0
GREG SOLMAN	BOARD MEMBER	2.00	Director	$0	$0	$0
MEGHAN GRADY	EXECUTIVE DIRECTOR	40.00	Officer	$150,088	$5,942	$156,030
KEREN DELA CRUZ	DIRECTOR OF FINANCE	40.00	Officer	$47,261	$1,965	$49,226

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	$5,798,735	$4,215,969	$9,966,148	$1,582,766
2022	$4,812,812	$3,720,616	$7,900,680	$1,092,196
2021	$4,511,641	$3,262,132	$7,282,572	$1,249,509
2020	$7,517,203	$4,671,733	$6,190,491	$2,845,470
2019	$3,130,703	$2,869,019	$3,136,616	$261,684
2018	$2,806,496	$2,734,959	$2,630,478	$71,537

MEALS ON WHEELS OF RI INC