Iona Senior Services

Nonprofit profile at a glance

EIN
521039553
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Washington, DC, USA
Phone
2029661055
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Centers

Official website

Reported finances

Revenue
$10,449,214
Expenses
$9,941,738
Assets
$16,826,022
Liabilities
$3,200,413

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Chip Hastie (Board Vice President & Finance Comm)
  • Joon Y Bang (CEO)

Highest reported compensation

  • Joon Y Bang (CEO): $265,848 total reported compensation
  • Stephanie Hubbard (Director of Development): $156,274 total reported compensation
  • Sarah Grogan (Director of Adult Day Programs): $137,866 total reported compensation

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

Overview

Mission

Iona supports people as they experience the challenges and opportunities of aging. We educate, advocate, and provide community-based services to help people age well and live well.

What it reported doing in 2024

Consultation, Care Management and Counseling: Iona's social service programs provide support for older adults and family caregivers provide support for older adults and family caregivers facing difficult transitions, isolation, loss of family and social supports, and/or serious health challenges that impact their safety, well-being, and ability to remain in the home of their choice. Through these programs, a multi-disciplinary team of compassionate and highly trained social workers, psychotherapists, and registered nurses provide intensive, customized, person-centered support, information referrals, and other solutions to older adults and families, helping them navigate complex challenges. In FY 25, 3,637 individuals received care management, information and referral, and counseling services.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.6%; rating input score 73
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: $9.47 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.9%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 1.69; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 8.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 72.6% of revenue deployed · 75.6% of spending went to programs
  • Governance: 10 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $7.5M in reported program spending
  • Leadership: top reported pay $266K · 14 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $610K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 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.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.