Waveny Care Center Inc
- Assets
- $30.7m
- Revenue
- $19.4m
- Investments
- $0.0
- Employees
- 387
- Location
- New Canaan, CT
- Founding
- 05/1970
- Data as of
- 09/2023
- EIN
- 06-0859588
Organization Overview
Waveny Care Center Inc is located in New Canaan, CT. The organization was established in 1970. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 09/2023, Waveny Care Center Inc employed 387 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waveny Care Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Waveny Care Center Inc generated $19.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $15.4m during the year ending 09/2023. While expenses have increased by 2.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LONG AND SHORT TERM REHABILITATION AND LONG-TERM CARE (SEE SCHEDULE O)WAVENY LIFECARE NETWORK PROVIDES A COMPREHENSIVE CONTINUUM OF HEALTHCARE TO SERVE THE GROWING NEEDS OF ADULTS FROM ALL AREAS. WE OFFER A PROGRESSION OF THERAPEUTIC PROGRAMS, SERVICES AND LIVING OPTIONS TO ENHANCE QUALITY OF LIFE FOR THOSE WE SERVE. AS PART OF THE WAVENY LIFECARE NETWORK, WAVENY CARE CENTER PROVIDES LONG AND SHORT TERM REHABILITATION AND LONG-TERM CARE. WAVENY CARE CENTER, INC. OPERATES A 76 BED SKILLED NURING HOME AND MEALS ON WHEELS PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INPATIENT ROOM & BOARD - NURSING SERVICES PROVIDED RESIDENTS AND PATIENTS WITH AN APPROPRIATE ASSISTANCE WITH ACTIVITIES OF DAILY LIVING AND AN ADEQUATE BALANCE OF PROFESSIONAL SERVICES AND PERSONAL ATTENTION. TOTAL NUMBER OF PERSONS BENEFITTING: 510
INPATIENT AND OUTPATIENT REHABILITATION SERVICES - OTHER RESIDENT SERVICES PROVIDED WITH THE OPPORTUNITY TO MAINTAIN INDEPENDENCE WHILE HAVING READY ACCESS TO NURSING AND REHABILITATION SERVICES. TOTAL NUMBER OF PEOPLE BENEFITTING: 189
NUTRITIONAL CARE TO PATIENTS, RESIDENTS & ORGANIZATIONS - DIETARY SERVICES PROVIDED MEALS AND NUTRITIONAL CARE TO MEALS ON WHEELS, RESIDENTS, AND PATIENTS. TOTAL NUMBER OF PEOPLE BENEFITTING: 606
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Corbet Director | Trustee | 1 | $0 |
Leo Karl III Chair | OfficerTrustee | 1 | $0 |
Marian Curtis Blair Secretary | OfficerTrustee | 1 | $0 |
David Hunt Treasurer | OfficerTrustee | 1 | $0 |
Barb Achenbaum Director | Trustee | 1 | $0 |
Ronald Balzano Director (left 12/2022) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison's Management Specialists Dietary & Environmental Mgmt Services | 9/29/23 | $3,540,376 |
Celtic Consulting Llc Medical Billing | 9/29/23 | $586,416 |
Preferred Therapy Solutions Llc Rehabilitation Services | 9/29/23 | $1,238,268 |
Procare Ltc Pharmacy Of Connecticut Llc Pharmacy Services | 9/29/23 | $423,826 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,049,354 |
| All other contributions, gifts, grants, and similar amounts not included above | $633,648 |
| Noncash contributions included in lines 1a–1f | $17,318 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,683,002 |
| Total Program Service Revenue | $12,853,124 |
| Investment income | $858,494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,871 |
| Net Gain/Loss on Asset Sales | -$108,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,400,386 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,272 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $246,423 |
| Compensation of current officers, directors, key employees. | $246,423 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,986,093 |
| Pension plan accruals and contributions | $137,432 |
| Other employee benefits | $320,464 |
| Payroll taxes | $763,895 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,066 |
| Fees for services: Accounting | $192,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,994 |
| Fees for services: Other | $902,268 |
| Advertising and promotion | $47,026 |
| Office expenses | $97,187 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $471,188 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105,004 |
| Interest | $210,563 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $493,691 |
| Insurance | $163,452 |
| All other expenses | $856,576 |
| Total functional expenses | $15,361,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $685 |
| Savings and temporary cash investments | $1,270,798 |
| Pledges and grants receivable | $109,783 |
| Accounts receivable, net | $1,199,122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $419,651 |
| Net Land, buildings, and equipment | $3,927,978 |
| Investments—publicly traded securities | $23,557,609 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $253,455 |
| Total assets | $30,739,081 |
| Accounts payable and accrued expenses | $2,586,224 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,253,266 |
| Total liabilities | $15,839,490 |
| Net assets without donor restrictions | $12,015,790 |
| Net assets with donor restrictions | $2,883,801 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,739,081 |