GREATER BOSTON CHINESE GOLDEN AGE … - 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

1972

Legal Domicile

Principal Officer

RUTH MOY

Phone

6173570226

Tax Period

2023-07-01 to 2024-06-30

GREATER BOSTON CHINESE GOLDEN AGE CENTER, founded in 1972, is a mid-sized nonprofit in the Human Services sector that reported $14.6M in total revenue in fiscal year 2023. The organization ran a surplus of $2.5M, a strong 17% operating margin.

Mission

TO PROMOTE THE GENERAL WELFARE AND INDEPENDENCE OF ASIAN ELDERS VIA A NETWORK OF CULTURALLY SENSITIVE AND LINGUISTICALLY APPROPRIATE PROGRAMS AND SERVICES.

Program Service Accomplishments

Program 1

Expenses: $8,341,441 Revenue: $0

NUTRITION PROGRAM - PREPARES HOT CHINESE-STYLE MEALS FOR ELDERS IN THE GREATER BOSTON AREA SERVED IN A CONGREGATE MEAL SITE SETTING OR DELIVERED TO THE CLIENTS AT THEIR HOMES. ALL MEALS ARE...

NUTRITION PROGRAM - PREPARES HOT CHINESE-STYLE MEALS FOR ELDERS IN THE GREATER BOSTON AREA SERVED IN A CONGREGATE MEAL SITE SETTING OR DELIVERED TO THE CLIENTS AT THEIR HOMES. ALL MEALS ARE NUTRITIONALLY BALANCED AND ARE PREPARED UNDER THE SUPERVISION OF A REGISTERED DIETICIAN. THE DIETICIAN ALSO PROVIDES NUTRITION EDUCATION TO PARTICIPATING CLIENTS AND AGENCY STAFF.

Program 2

Expenses: $1,660,212 Revenue: $2,599,013

ADULT DAY HEALTH (ADH) - PROVIDES COST-EFFECTIVE HEALTH CARE AND SUPPORT SERVICES TO FRAIL ELDERS AND DISABLED ADULTS IN GROUP SETTINGS SUPERVISED BY REGISTERED NURSES. THE ORGANIZATION OPERATES...

ADULT DAY HEALTH (ADH) - PROVIDES COST-EFFECTIVE HEALTH CARE AND SUPPORT SERVICES TO FRAIL ELDERS AND DISABLED ADULTS IN GROUP SETTINGS SUPERVISED BY REGISTERED NURSES. THE ORGANIZATION OPERATES THREE ADH SITES IN THE GREATER BOSTON AREA.

Program 3

Expenses: $760,755 Revenue: $74,694

SOCIAL SERVICES - THE ORGANIZATION OFFERS 28 SOCIAL SERVICE AND OTHER PROGRAMS AIMED AT ENABLING ASIAN ELDERS TO LIVE HEALTHY INDEPENDENT LIVES. THESE SERVICES INCLUDE HEALTH TRAINING, COUNSELING...

SOCIAL SERVICES - THE ORGANIZATION OFFERS 28 SOCIAL SERVICE AND OTHER PROGRAMS AIMED AT ENABLING ASIAN ELDERS TO LIVE HEALTHY INDEPENDENT LIVES. THESE SERVICES INCLUDE HEALTH TRAINING, COUNSELING, INTERPRETATION, HELP WITH PUBLIC ASSISTANCE APPLICATIONS AND OTHER ISSUES, ESL AND CITIZENSHIP CLASSES, INFORMATION AND REFERRAL SERVICES, COMMUNITY OUTREACH AND RECREATIONAL PROGRAMS.

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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 $11,571,432

Program Service Revenue $2,673,707

Investment Income $379,031

Other Revenue $2,318

TOTAL REVENUE $14,626,488

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,145,001

Fundraising Expenses $1,198

Program Expenses $11,427,747

Other Expenses $5,940,594

TOTAL EXPENSES $12,085,595

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,626,488	$14,288,809	+0.0%
Expenses	$12,085,595	$11,865,148	+0.0%
Net Income	$2,540,893	$2,423,661	+0.0%

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

197

Volunteers

242

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

$369,460

Total Directors

Key Employees

$200,721

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER K CHAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
IRENE RUAN	TREASURER	0.50	Officer Director	$0	$0	$0
DANIEL Y SZETO	CLERK	0.50	Officer Director	$0	$0	$0
HUNG GOON	DIRECTOR	0.50	Director	$0	$0	$0
DAVID TAM	DIRECTOR	0.50	Director	$0	$0	$0
CONNIE S WONG	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT WU	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH MARKEY	DIRECTOR	0.50	Director	$0	$0	$0
RUTH C MOY	CEO	40.00	Officer	$218,704	$3,508	$222,212
HOLLY WAINWRIGHT	DIRECTOR OF FINANCE (PART-YEAR)	30.00	Officer	$139,280	$7,968	$147,248
MEGAN CHEUNG	ASSOC. DIRECTOR/CLINICAL DIRECTOR	40.00	Key Emp	$192,457	$8,264	$200,721
KUN CHANG	PROGRAM DIRECTOR	40.00	Highest	$149,898	$7,566	$157,464
YING-CHIN CHANG	NURSE DIRECTOR	40.00	Highest	$111,395	$1,609	$113,004
RAYMOND GIANG	PROGRAM MANAGER / SUPERVISOR	40.00	Highest	$132,232	$1,609	$133,841
DEBORAH GOVE	PROGRAM DIRECTOR	40.00	Highest	$104,094	$2,903	$106,997

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
2025	No data	No data	No data	No data
2024	$14,626,488	$12,085,595	$17,329,315	$2,540,893
2023	$14,288,809	$11,865,148	$13,863,638	$2,423,661
2023	$14,288,809	$11,865,147	$13,863,639	$2,423,662
2022	$12,906,257	$11,612,118	$9,742,938	$1,294,139
2022	$12,906,257	$11,612,118	$9,742,938	$1,294,139
2021	$11,927,313	$10,850,591	$9,347,300	$1,076,722
2020	$10,771,651	$10,476,202	$7,762,928	$295,449
2019	$9,609,152	$9,271,118	$6,800,155	$338,034
2018	$8,979,360	$8,606,893	$6,285,986	$372,467

GREATER BOSTON CHINESE GOLDEN AGE CENTER