AREA AGENCY ON AGING OF WESTERN MICHIGAN INC (EIN 382058542) - 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

1974

Legal Domicile

Principal Officer

KENDRICK HEINLEIN

Phone

6164565664

Tax Period

2023-10-01 to 2024-09-30

AREA AGENCY ON AGING OF WESTERN MICHIGAN INC, founded in 1974, is a mid-sized nonprofit in the Human Services sector that reported $67.3M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

THROUGH INTERNAL EXPERTISE, EXTERNAL PARTNERSHIPS, AND ADVOCACY, THE AREA AGENCY ON AGING OF WESTERN MICHIGAN PROVIDES OLDER ADULTS, ADULTS WITH DISABILITIES, AND THEIR CAREGIVERS EQUITABLE ACCESS TO SERVICES THAT PROMOTE INDEPENDENCE AND DIGNITY IN THEIR COMMUNITIES.

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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 $50,169,285

Program Service Revenue $16,237,000

Investment Income $861,276

Other Revenue $0

TOTAL REVENUE $67,267,561

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,061,514

Fundraising Expenses $0

Program Expenses $66,834,764

Other Expenses $59,687,177

TOTAL EXPENSES $69,748,691

Year-over-Year Comparison

	2023	2022	Change
Revenue	$67,267,561	$61,020,846	+0.1%
Expenses	$69,748,691	$64,016,483	+0.1%
Net Income	$-2,481,130	$-2,995,637	-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

133

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

$249,479

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL ROUTLEY	CHAIRPERSON	4.00	Officer Director	$0	$0	$0
MARILYN BURNS	BOARD MEMBER-AT-LARGE	2.00	Officer Director	$0	$0	$0
CAROL HENNESSY	CO-CHAIRPERSON	2.00	Officer Director	$0	$0	$0
RON BACON	SECRETARY	2.00	Officer Director	$0	$0	$0
NANCY NIELSEN	BOARD MEMBER-AT-LARGE	2.00	Director	$0	$0	$0
STUART PEET	BOARD MEMBER	1.00	Director	$0	$0	$0
SHARON BONGARD	BOARD MEMBER	1.00	Director	$0	$0	$0
TIM MITCHELL	BOARD MEMBER	1.00	Director	$0	$0	$0
LARRY TIEJEMA	BOARD MEMBER	1.00	Director	$0	$0	$0
JANE DEVRIES	BOARD MEMBER	1.00	Director	$0	$0	$0
CHUCK HAZEKAMP	TREASURER	2.00	Director	$0	$0	$0
KIM HALLADAY	FORMER BOARD MEMBER	1.00	Director	$0	$0	$0
KEN DELAAT	BOARD MEMBER	1.00	Director	$0	$0	$0
KRISTINE RAYMOND	BOARD MEMBER	1.00	Director	$0	$0	$0
EDNA ALBERT	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK DEYOUNG	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD FITZPATRICK	BOARD MEMBER	1.00	Director	$0	$0	$0
LISA KNIGHT	BOARD MEMBER	1.00	Director	$0	$0	$0
RON BAKER	BOARD MEMBER	1.00	Director	$0	$0	$0
DAWN MONTEGUE	BOARD MEMBER	1.00	Director	$0	$0	$0
KENDRICK HEINLEIN	CHIEF EXECUTIVE OFFICER	40.00	Officer	$115,644	$33,009	$148,653
SCOTT RUSSETT	CHIEF FINANCIAL OFFICER	40.00	Officer	$87,909	$12,917	$100,826
SUZANNE FILBY-CLARK	CHIEF OPERATING OFFICER	40.00	Highest	$111,590	$31,060	$142,650
LAURA DOBRZELEWSKI	VP OF CARE MANAGEMENT	40.00	Highest	$104,623	$14,156	$118,779

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	$67,267,561	$69,748,691	$17,530,845	$-2,481,130
2023	$61,020,846	$64,016,483	$19,037,669	$-2,995,637
2022	$57,077,059	$57,302,896	$21,031,241	$-225,837
2021	$55,691,217	$53,572,346	$20,743,900	$2,118,871
2020	$49,974,694	$51,026,863	$20,780,138	$-1,052,169
2019	$46,031,204	$46,391,761	$18,698,820	$-360,557
2018	$44,692,198	$43,143,605	$18,879,199	$1,548,593

AREA AGENCY ON AGING OF WESTERN MICHIGAN INC