Aging Well Inc

Nonprofit profile at a glance

EIN
050355098
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Woonsocket, RI, USA
Phone
4017663734
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Centers

Reported finances

Revenue
$1,188,719
Expenses
$841,462
Assets
$653,344
Liabilities
$19,846

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • RYAN MACLEOD (EXECUTIVE DIRECTOR)
  • BARBARA WATERMAN RETIRED 2024 (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID WEBSTER (FINANCE DIRECTOR): $52,155 total reported compensation
  • RYAN MACLEOD (EXECUTIVE DIRECTOR): $47,692 total reported compensation
  • BARBARA WATERMAN RETIRED 2024 (EXECUTIVE DIRECTOR): $37,657 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of aging well, inc. Is to promote healthy aging through programs, services and resources to enhance and enrich the lives of adults age fifty-five and older and adults with disabilities throughout the communities we serve

What it reported doing in 2024

Nutrition services - provides older persons with nutritional meals, appropriate nutritional education, and other nutritional services.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 58
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.7%; rating input score 57
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29.2%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 19.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -3.7% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -1.8% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 56.7% of revenue deployed · 80.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $674K in reported program spending
  • Leadership: top reported pay $52K · 12 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.