Waveny Care Center Inc

Analysis

Waveny Care Center Inc is a registered charity in United States, based in New Canaan, CT. It received its IRS tax-exemption ruling in May 1970, 56 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Waveny Care Center Inc reported income of $19.4m and spending of $15.4m, leaving 21% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $13.2m to $19.4m (+47%), an average of +10% a year. The sharpest change came in the year to September 2023, when income rose by 35%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Waveny Care Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within CT. Charities of a similar size with the same main cause include Pennyroyal Regional Mental Health Mental Retardation Board Inc ($19.4m), Chippewa Valley Hospital & Oakview Care Center Inc ($19.4m) and Jewish Home and Care Center Inc ($19.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 29% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $246k (1.6% of expenses). Other salaries and wages came to $7.0m. At year end it held assets of $30.7m against liabilities of $15.8m, net assets of $14.9m. It reported 387 employees.