Volunteers of America Northern New… - 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

1999

Legal Domicile

Principal Officer

Keith Gibson

Phone

2073731140

Tax Period

2023-07-01 to 2024-06-30

Volunteers of America Northern New England, founded in 1999, is a mid-sized nonprofit that reported $15.9M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $14.9M left a modest 6% surplus.

Mission

Volunteers of America Northern New England is a movement organized to reach out and uplift the human condition. With more than 30 programs in Northern New England, Volunteers of America offers affordable and supportive housing, residential care, social services, and treatment to veterans, seniors, adults living with mental illness, and adults involved in the criminal justice system.

Program Service Accomplishments

Program 1

Expenses: $12,572,181 Revenue: $12,929,881

Provides affordable and supportive housing and community-based social services within Maine, New Hampshire, and Vermont.

Program 2

Revenue: $161,383

Pass-through income from Elderly Housing Project - VOANNE Bangor Senior Housing L.P.

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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 $2,629,093

Program Service Revenue $13,091,264

Investment Income $132,224

Other Revenue $0

TOTAL REVENUE $15,852,581

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,788,948

Fundraising Expenses $167,344

Program Expenses $12,572,181

Other Expenses $3,096,655

TOTAL EXPENSES $14,885,603

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,852,581	$13,603,208	+0.2%
Expenses	$14,885,603	$13,014,916	+0.1%
Net Income	$966,978	$588,292	+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

346

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

$395,410

Total Directors

$215,480

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Hooks Wayman	President/CEO	40.00	Officer Director	$118,626	$96,854	$215,480
Brad MacDonald	Treasurer	0.10	Officer Director	$0	$0	$0
Eric French	Secretary	0.10	Officer Director	$0	$0	$0
James Broder	Director	0.10	Director	$0	$0	$0
Awa Conteh	Director	0.10	Director	$0	$0	$0
Forest Curtis	Director	0.10	Director	$0	$0	$0
Sarah Higgins	Director	0.10	Director	$0	$0	$0
Monique Mutuminka	Director	0.10	Director	$0	$0	$0
Courtney Pladsen	Director	0.10	Director	$0	$0	$0
Carol Rico	Director	0.10	Director	$0	$0	$0
Darrin Stairs	Director	0.10	Director	$0	$0	$0
Sarah Sturtevant	Director	0.10	Director	$0	$0	$0
Ludmila Tutunaru	Director	0.10	Director	$0	$0	$0
Malisa Blessington	Past Director	0.10	Director	$0	$0	$0
Colleen Ippolito	Past Director	0.10	Director	$0	$0	$0
Bernadette Di Re	Past Director	0.10	Director	$0	$0	$0
Teresa Baldwin	COO	40.00	Officer	$130,862	$12,374	$143,236
Keith Gibson	CFO	40.00	Officer	$12,499	$0	$12,499
Pam Zagorski	Past CFO	40.00	Officer	$24,195	$0	$24,195

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	$15,852,581	$14,885,603	$13,950,613	$966,978
2023	$13,603,208	$13,014,916	$12,608,683	$588,292
2022	$12,139,266	$11,527,127	$11,911,991	$612,139
2021	$10,817,415	$10,048,789	$11,670,069	$768,626
2020	$10,742,286	$10,120,893	$10,851,033	$621,393
2019	$10,727,805	$10,135,572	$9,816,892	$592,233

Volunteers of America Northern New England