Council on Aging of Greater Nashville DBA AgeWell Middle Tennessee
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$853,679.00
Projected Expenses
$847,110.00
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 | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $666,156.00 | $534,041.00 | $607,908.00 |
| Total Expenses | $653,920.00 | $533,947.00 | $563,169.00 |
| Revenue Less Expenses | $12,236.00 | $94.00 | $44,739.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $662,872.00 | $533,007.00 | $607,144.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $3,284.00 | $1,034.00 | $764.00 |
| 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 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $520,278.00 | $419,988.00 | $563,169.00 |
| Administration Expense | $63,124.00 | $50,759.00 | $0.00 |
| Fundraising Expense | $70,518.00 | $63,200.00 | $0.00 |
| Total Revenue/Total Expenses | 102% | 100% | 108% |
| Program Expense/Total Expenses | 80% | 79% | 100% |
| Fundraising Expense/Contributed Revenue | 11% | 12% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $662,872.00 | Contributions, Gifts, and Grants $533,007.00 | Contributions, Gifts, Grants $607,144.00 |
| Second Highest Funding Source & Dollar Amount | Investment Income $3,284.00 | Investment Income $1,034.00 | Interest Income $764.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | $0.00 | $0.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $401,616.00 | $454,844.00 | $343,864.00 |
| Current Assets | $376,648.00 | $429,876.00 | $341,024.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $68,103.00 | $133,567.00 | $22,681.00 |
| Total Net Assets | $333,513.00 | $321,277.00 | $321,183.00 |
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
2025
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 trusted community resource, catalyst for solutions and champion for older adults. 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 initially required investing from reserves while we grew our fundraising. This investment and increased fundraising has allowed us to grow our staff to eight employees including adding a Grants and Operations Manager, a full-time Community Engagement Director, and two dedicated program managers to launch the Eldercare Coach and RESET initiatives. We've also added employee benefits in order to attract and retain a dedicated and qualified team. As we've leaned into advocacy leadership the past two years, we need more infrastructure to support policy research and coordination of the TN Coalition for Better Aging. We also need a dedicated manager for our comprehensive Directory of Services resource guide. Our board and staff are determining our optimal organizational structure, and we will continue to seek and grow funding to support our core activities and backbone role as a catalyst for solutions. |
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 5/16/24. |
