MARY WADE RESIDENCE INC

EIN: 821367321 501(c)(3) Human Services

NEW HAVEN, CT

Total Revenue
$7,703,663
Total Expenses
$8,019,922
Total Assets
$31,557,206
Net Assets
$-3,268,020
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
CT
Principal Officer
DAVID V HUNTER
Phone
2035627222
Tax Period
2023-10-01 to 2024-09-30

MARY WADE RESIDENCE INC, founded in 2017, is a community nonprofit in the Human Services sector that reported $7.7M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

CHATHAM PLACE AT MARY WADE (DBA) IS AN 84 UNIT ASSISTED LIVING AND MEMORY CARE FACILITY WHICH PROVIDES HIGH QUALITY SERVICES WHICH SEEK TO MAXIMIZE RESIDENTS DIGNITY AND VITALITY.

Program Service Accomplishments

Program 1
Expenses: $7,032,331 Revenue: $4,584,336

ASSISTED LIVING FACILITY: CHATHAM PLACE AT MARY WADE IS AN 84 UNIT ASSISTED LIVING FACILITY WITH 64 ASSISTED LIVING UNITS AND A SECURE 20 UNIT MEMORY CARE SECTION. IT OPENED FEBRUARY 1, 2022. THIS IS...

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ASSISTED LIVING FACILITY: CHATHAM PLACE AT MARY WADE IS AN 84 UNIT ASSISTED LIVING FACILITY WITH 64 ASSISTED LIVING UNITS AND A SECURE 20 UNIT MEMORY CARE SECTION. IT OPENED FEBRUARY 1, 2022. THIS IS THE SECOND FULL FISCAL YEAR OF OPERATION AND RATE AT 80% OCCUPANCY FOR THE YEAR.

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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 $3,118,025
Program Service Revenue $4,579,848
Investment Income $13,000
Other Revenue $-7,210
TOTAL REVENUE $7,703,663

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,968,617
Fundraising Expenses $0
Program Expenses $7,032,331
Other Expenses $4,051,305
TOTAL EXPENSES $8,019,922

Year-over-Year Comparison

2023 2022 Change
Revenue $7,703,663 $6,641,057 +0.2%
Expenses $8,019,922 $7,565,266 +0.1%
Net Income $-316,259 $-924,209 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
N/A
Volunteers
16

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
8
$564,347
Total Directors
21
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOANNE MCGLOIN CO-CHAIR 0.40
Officer Director
$0 $0 $0
BRUCE TOPOLOSKY CO-CHAIR 0.40
Officer Director
$0 $0 $0
BARBARA C ADAMS DIRECTOR 0.20
Officer Director
$0 $0 $0
MARJORIE FUNK SECRETARY 0.20
Officer Director
$0 $0 $0
JACQUELINE HENCHEL MD SECRETARY (UNTIL 8/24) 0.20
Officer Director
$0 $0 $0
BRANDON MCFARLANE TREASURER 0.20
Officer Director
$0 $0 $0
MARY BETH CANAVAN DIRECTOR (UNTIL 12/23) 0.20
Director
$0 $0 $0
BERNADETTE DIGUILIAN DIRECTOR 0.20
Director
$0 $0 $0
JOYCE DUPEE DIRECTOR 0.20
Director
$0 $0 $0
PATRICIA A GANUN DIRECTOR (UNTIL 12/23) 0.20
Director
$0 $0 $0
HOWARD HILL DIRECTOR 0.20
Director
$0 $0 $0
REV THOMAS JACKSON DIRECTOR 0.20
Director
$0 $0 $0
ROBERT KESSLER DIRECTOR 0.20
Director
$0 $0 $0
ANGELA MATTIE DIRECTOR 0.20
Director
$0 $0 $0
MICHAEL MORAND DIRECTOR (UNTIL 11/23) 0.20
Director
$0 $0 $0
NICHOLAS R NICHOLSON JR PHD DIRECTOR 0.20
Director
$0 $0 $0
ALEXANDER OVERKAMP DIRECTOR 0.20
Director
$0 $0 $0
MICHELLE LEE RODRIGUEZ DIRECTOR 0.20
Director
$0 $0 $0
HAROLD S SPITZER DIRECTOR (UNTIL 12/23) 0.20
Director
$0 $0 $0
PAMELA STANTON DIRECTOR 0.20
Director
$0 $0 $0
STEVE WOLFSON MD DIRECTOR 0.20
Director
$0 $0 $0
DAVID V HUNTER PRESIDENT & CEO 5.00
Officer
$39,010 $63,653 $375,737
WILLIAM GINTER CFO 5.00
Officer
$19,190 $35,091 $188,610
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 $7,703,663 $8,019,922 $31,557,206 $-316,259
2023 $6,641,057 $7,565,266 $32,812,938 $-924,209
2022 $3,425,075 $4,969,013 $34,457,731 $-1,543,938
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