Waveny Care Center Health Services Inc

Analysis

Waveny Care Center Health Services Inc is a registered charity in United States, based in New Canaan, CT. It received its IRS tax-exemption ruling in January 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Waveny Care Center Health Services Inc reported income of $9.3m and spending of $8.5m, spending 91% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.5m to $9.3m (+24%), an average of +5.5% a year. The sharpest change came in the year to September 2023, when income rose by 37%. Over the whole period it spent 107% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Waveny Care Center Health Services Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Creative Solutions for Kids & Families Inc ($9.3m), Corona-Norco Family Young Mens Christian Association ($9.3m) and Community and Family Services Foundation ($9.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $156k (1.8% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $12.4m against liabilities of $3.9m, net assets of $8.5m.