Waveny Care Center Inc
Nonprofit profile at a glance
- EIN
- 060859588
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- New Canaan, CT, USA
- Phone
- 2035945200
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Nursing, Convalescent Facilities
Reported finances
- Revenue
- $25,629,099
- Expenses
- $16,645,126
- Assets
- $44,270,673
- Liabilities
- $13,942,105
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
33 people listed
Executive titles in this filing
- RUSSELL BARKSDALE (CEO)
- FRANCOISE COFFY-MICHEL (ACTING VILLAGE EXECUTIVE DIRECTOR)
Highest reported compensation
- RUSSELL BARKSDALE (CEO): $725,615 total reported compensation
- CHARLES ROSE (CFO): $316,244 total reported compensation
- TERRANCE HENRY (CHIEF MARKETING/SALES OFFICER): $293,769 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We seek to provide the highest quality of compassionate, person-centered care. We are committed to offering services and resources to continually meet and exceed the growing needs of older adults and their families.
What it reported doing in 2024
Inpatient room & board - nursing services provided residents and patients with an appropriate assistance with activites of daily living and an adequate balance of professional services and personal attention. Total number of persons benefiting: 611
Operating model
- Revenue model
- Earned-program. 63% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 97% 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
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 fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 88
- Accountability: 95
- Sustainability: 69
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 49.2%; rating input score 49
- Program expense ratio: 76.3%; rating input score 76
- Fundraising efficiency: $15.19 raised per $1 spent on fundraising; rating input score 50; 50th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 35.1%; rating input score 90; 90th percentile among comparable filings
- Total-asset coverage ratio: 2.66; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.31; rating input score 45; 45th percentile among comparable filings
- Officer compensation ratio: 16.5%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: 6.5% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 49.2% of revenue deployed · 76.3% of spending went to programs
- Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $12.7M in reported program spending
- Leadership: top reported pay $726K · 33 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.9M reported
- Consistency: 39 of 39 current checks pass
- Schedules: 10 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: 6 filed related-organization links
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
- Review — Financial Efficiency: Fundraising efficiency scored 50/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 7/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 45/100.