WESTERN CONNECTICUT AREA AGENCY ON AGING INC

EIN: 061182488 501(c)(3) Human Services

WATERBURY, CT

Total Revenue
$10,290,107
Total Expenses
$9,953,793
Total Assets
$5,808,931
Net Assets
$2,903,486
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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
CT
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.

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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%)

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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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
11
Employees
88
Volunteers
76

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
4
$203,685
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
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
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