THE WESTERLY AMBULANCE CORPS INC (EIN 056009804) - 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

1919

Legal Domicile

Principal Officer

MICHAEL T BRANCATO

Phone

4015964375

Tax Period

2023-01-01 to 2023-12-31

THE WESTERLY AMBULANCE CORPS INC, founded in 1919, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

THE WESTERLY AMBULANCE CORPS PROVIDES THE HIGHEST QUALITY EMERGENCY MEDICAL AND DISPATCH SERVICES TO THE WESTERLY COMMUNITY AND THE NEARBY TOWNS IN SOUTHERN RHODE ISLAND.

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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 $661,142

Program Service Revenue $1,874,165

Investment Income $161,939

Other Revenue $10,209

TOTAL REVENUE $2,707,455

Expense Breakdown

Grants Paid $3,000

Salaries & Benefits $1,949,291

Fundraising Expenses $0

Program Expenses $2,494,472

Other Expenses $871,244

TOTAL EXPENSES $2,823,535

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,707,455	$2,312,570	+0.2%
Expenses	$2,823,535	$2,579,573	+0.1%
Net Income	$-116,080	$-267,003	-0.6%

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

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

$82,073

Total Directors

$82,073

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL T BRANCATO	TREASURER	45.00	Officer Director	$80,073	$0	$80,073
KAREN E MCGRATH-SCARCELLO	SECRETARY	5.00	Officer Director	$2,000	$0	$2,000
MARY ELLEN BUCKLEY	COMM. BOARD	2.00	Director	$0	$0	$0
STEPHEN R COFONE	COMM. BOARD	2.00	Director	$0	$0	$0
IAN J HOWARD	ASST TREASUR	5.00	Officer Director	$0	$0	$0
MARK S MELANSON	VICE PRESIDE	7.00	Officer Director	$0	$0	$0
DAWN E SMITH	PRESIDENT	5.00	Officer Director	$0	$0	$0
JOHN J TURANO	COMM. BOARD	2.00	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	$2,707,455	$2,823,535	$3,905,030	$-116,080
2022	$2,312,570	$2,579,573	$4,108,884	$-267,003
2021	$2,503,156	$2,671,127	$4,557,028	$-167,971
2020	$2,338,414	$2,484,406	$4,637,780	$-145,992
2019	$2,519,199	$2,642,533	$4,808,864	$-123,334
2018	$2,807,695	$2,655,878	$4,874,761	$151,817

THE WESTERLY AMBULANCE CORPS INC