Council on Aging of Greater Nashville DBA AgeWell Middle Tennessee
Fiscal Year
Fiscal Year Start
01/01/2023
Fiscal Year End
12/31/2023
Projected Revenue
$675,395.00
Projected Expenses
$662,768.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| council on aging of greater nashville irs ltr | 2001 |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenue | $534,041.00 | $607,908.00 | $616,402.00 |
| Total Expenses | $533,947.00 | $563,169.00 | $548,432.00 |
| Revenue Less Expenses | $94.00 | $44,739.00 | $67,970.00 |
Revenue Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $300,993.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $39,400.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $533,007.00 | $607,144.00 | $269,609.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $1,034.00 | $764.00 | $2,536.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $3,864.00 |
Expense Allocation
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Program Expense | $419,988.00 | $563,169.00 | $548,432.00 |
| Administration Expense | $50,759.00 | $0.00 | $0.00 |
| Fundraising Expense | $63,200.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 100% | 108% | 112% |
| Program Expense/Total Expenses | 79% | 100% | 100% |
| Fundraising Expense/Contributed Revenue | 12% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $533,007.00 | Contributions, Gifts, Grants $607,144.00 | Foundation and Corporations $300,993.00 |
| Second Highest Funding Source & Dollar Amount | Investment Income $1,034.00 | Interest Income $764.00 | Contributions, Gifts, and Grants $269,609.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | $0.00 | State Government Grants $39,400.00 |
Assets and Liabilities
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Assets | $454,844.00 | $343,864.00 | $358,004.00 |
| Current Assets | $429,876.00 | $341,024.00 | $355,164.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $133,567.00 | $22,681.00 | $81,560.00 |
| Total Net Assets | $321,277.00 | $321,183.00 | $276,444.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$6,340.00
What is the spending policy for your endowment?
Income Only
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
No audit documents are available at this time
CEO/Executive Director/Board Comments
| Since becoming Executive Director in 2016, I have worked diligently with our Board to grow our infrastructure and impact as a vital information hub and community catalyst. This began with the board's decision to expand the Executive Director position to full-time in recognition of the growing older population and needs in the community. AgeWell has continued to grow its team of dedicated professionals and IT infrastructure, which has required an approved investment from undesignated reserves for several years. This investment has allowed us to hire a Development and Operations Director and add a full-time Community Engagement Director, and expand the hours of other staff in order to diversify revenue streams and take on more impactful projects. This investment has resulted in an 84% increase in grant revenue between 2018 to 2019, successful incubation and launch of a new non-profit, Senior Ride Nashville; development of a new social enterprise to support caregivers, Eldercare Coach; and increased donor support in 2020, amidst national public health and economic crisis. With such positive momentum and a fortified infrastructure, I am very pleased to note that our organization is poised to continue growing our impact and we project a balanced budget for 2021. |
Foundation Staff Comments
| Financial figures were taken from the 990. Schedule B removed to protect donor privacy. 990 completed by Kraft & Company, PLLC. Comments provided by Hayley Sulfridge 8/14/23. |
