WESTERN CONNECTICUT AREA AGENCY ON… - 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

1986

Legal Domicile

Principal Officer

SPRING RAYMOND

Phone

2037575449

Tax Period

2023-10-01 to 2024-09-30

WESTERN CONNECTICUT AREA AGENCY ON AGING INC, founded in 1986, is a mid-sized nonprofit in the Human Services sector that reported $10.3M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $10.0M left a modest 3% surplus.

Mission

THE WESTERN CONNECTICUT AREA AGENCY ON AGING, INC. (WCAAA) DEVELOPS, MANAGES AND PROVIDES COMPREHENSIVE SERVICES THROUGH PERSON CENTERED PLANNING FOR SENIORS, CAREGIVERS AND INDIVIDUALS WITH DISABILITIES IN ORDER TO MAINTAIN THEIR INDEPENDENCE AND QUALITY OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $3,514,488 Revenue: $102,076

THE WCAAA PROVIDES FUNDING TO BOTH CONGREGATE AND HOME DELIVERED MEAL PROGRAMS WHICH PROVIDE HOT AND COLD, NUTRITIONALLY BALANCED MEALS TO ELDERLY OR DISABLED ADULTS WHO MAY NOT OTHERWISE EAT...

THE WCAAA PROVIDES FUNDING TO BOTH CONGREGATE AND HOME DELIVERED MEAL PROGRAMS WHICH PROVIDE HOT AND COLD, NUTRITIONALLY BALANCED MEALS TO ELDERLY OR DISABLED ADULTS WHO MAY NOT OTHERWISE EAT PROPERLY.

Program 2

Expenses: $2,157,159 Revenue: $2,131,369

THE CT HOME CARE PROGRAM FOR ELDERS HELPS ELDERLY PERSONS REMAIN SAFELY IN THEIR HOME WITH THE PROPER SUPPORTS AND SERVICES IN PLACE RATHER THAN IN A NURSING HOME.

Program 3

Expenses: $1,952,839

THE WCAAA PROVIDES FUNDING FOR NUMEROUS SOCIAL SERVICES PROGRAMS FOR SENIORS WHICH INCLUDE CHORE SERVICES, TRANSPORTATION SERVICES, LEGAL SERVICES, HEALTH AND FITNESS SERVICES, ADULT DAY CARE...

THE WCAAA PROVIDES FUNDING FOR NUMEROUS SOCIAL SERVICES PROGRAMS FOR SENIORS WHICH INCLUDE CHORE SERVICES, TRANSPORTATION SERVICES, LEGAL SERVICES, HEALTH AND FITNESS SERVICES, ADULT DAY CARE SERVICES, SENIOR CENTER SERVICES, FUEL ASSISTANCE SERVICES, HOMELESS SHELTER SERVICES AND OTHER SOCIAL SERVICES.

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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 $7,652,905

Program Service Revenue $2,233,445

Investment Income $82,568

Other Revenue $321,189

TOTAL REVENUE $10,290,107

Expense Breakdown

Grants Paid $4,286,868

Salaries & Benefits $4,063,873

Fundraising Expenses $0

Program Expenses $8,932,823

Other Expenses $1,603,052

TOTAL EXPENSES $9,953,793

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,290,107	$9,425,256	+0.1%
Expenses	$9,953,793	$8,986,460	+0.1%
Net Income	$336,314	$438,796	-0.2%

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

$203,685

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL BARRETT	DIRECTOR	1.00	Director	$0	$0	$0
TRICIA STEWART	DIRECTOR	1.00	Director	$0	$0	$0
ANNE GIOIA	SECRETARY	1.00	Officer Director	$0	$0	$0
SUSAN COATES	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL MINUTILLO	TREASURER	1.00	Director	$0	$0	$0
PAUL HINCKLEY	VICE PRESIDENT	1.00	Director	$0	$0	$0
JOHN WAHLERS	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN DURSTIN	DIRECTOR	1.00	Director	$0	$0	$0
TERRY WALKER	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN WAGNER-WHITE	DIRECTOR	1.00	Director	$0	$0	$0
SPRING RAYMOND	PRESIDENT/CEO	35.00	Officer	$120,440	$9,576	$130,016
ADEL MOUSA	CHIEF FINANCIAL OFFICER	35.00	Officer	$73,669	$0	$73,669

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	$10,290,107	$9,953,793	$5,808,931	$336,314
2023	$9,425,256	$8,986,460	$5,164,106	$438,796
2022	$9,011,708	$8,758,339	$4,061,943	$253,369
2021	$8,361,310	$7,529,567	$3,714,113	$831,743
2020	$9,544,382	$9,339,369	$3,504,353	$205,013
2019	$7,334,704	$7,473,545	$2,137,077	$-138,841
2019	$7,334,704	$7,473,545	$2,137,077	$-138,841
2018	$7,422,891	$7,564,754	$2,269,961	$-141,863

WESTERN CONNECTICUT AREA AGENCY ON AGING INC