Mi Nursing-Restorative Center Inc
- Assets
- $44.8m
- Revenue
- $23.0m
- Investments
- $35.9m
- Employees
- 349
- Location
- Lawrence, MA
- Founding
- 03/1946
- Data as of
- 12/2021
- EIN
- 04-2104851
Organization Overview
Mi Nursing-Restorative Center Inc is located in Lawrence, MA. The organization was established in 1946. 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 12/2021, MI Nursing-Restorative Center Inc employed 349 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. MI Nursing-Restorative 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 12/2021, MI Nursing-Restorative Center Inc generated $23.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $17.4m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RESPONDING TO THE HEALTH, SOCIAL AND SPIRITUAL NEEDS OF WELL, SICK, AND FRAIL ELDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CENTER CONTINUES TO PROVIDE NURSING AND QUALITY-OF-LIFE SERVICES THE ELDERLY IN ITS COMMUNITY. IN 2021, THE CENTER PROVIDED ELDERCARE THROUGH THE OPERATION OF A 231 BED SKILLED NURSING FACILITY, WHERE THE CENTER PROVIDED SKILLED NURSING CARE, REHABILITATION SERVICES, DIETARY SERVICES, LAUNDRY AND HOUSEKEEPING SERVICES, AND NUMEROUS SOCIAL ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanne Leydon President & CEO | OfficerTrustee | 33 | $234,617 |
Delbet Downing Administrator | 40 | $157,408 | |
Alysia Pope Director Of Nursing | 40 | $118,591 | |
Sitha Bou-Moore Director Of Admissions | 40 | $100,416 | |
Deborah L Turiano MD Chair | OfficerTrustee | 1 | $0 |
William Shaheen CPA Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Covenant Health Inc Management Services | 12/30/21 | $922,563 |
Rehabcare Group Inc Rehabilitative Services | 12/30/21 | $706,405 |
Logically It Solutions | 12/30/21 | $120,786 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,598 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,598 |
| Total Program Service Revenue | $15,141,513 |
| Investment income | $499,422 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,331,045 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,001,578 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $449,122 |
| Compensation of current officers, directors, key employees. | $99,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,662,060 |
| Pension plan accruals and contributions | $86,521 |
| Other employee benefits | $1,133,508 |
| Payroll taxes | $631,568 |
| Fees for services: Management | $923,614 |
| Fees for services: Legal | $19,632 |
| Fees for services: Accounting | $4,541 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,191,967 |
| Advertising and promotion | $34,839 |
| Office expenses | $249,219 |
| Information technology | $8,173 |
| Royalties | $0 |
| Occupancy | $303,986 |
| Travel | $251 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,430 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $657,249 |
| Insurance | $258,186 |
| All other expenses | $81,362 |
| Total functional expenses | $17,367,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,048,205 |
| Savings and temporary cash investments | $240,541 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,591,019 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,063 |
| Prepaid expenses and deferred charges | $265,974 |
| Net Land, buildings, and equipment | $5,074,756 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $35,902,607 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $597,735 |
| Total assets | $44,764,900 |
| Accounts payable and accrued expenses | $1,555,234 |
| 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 | $680,744 |
| Total liabilities | $2,235,978 |
| Net assets without donor restrictions | $42,525,661 |
| Net assets with donor restrictions | $3,261 |
| 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 | $44,764,900 |
Endowment Analysis
| Beg. Balance | $212,030 |
| Net Contributions | $2,505 |
| Other Expense | $211,274 |
| Ending Balance | $3,261 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cobble Hill Health Center Inc Brooklyn, NY | $104,850,612 | $51,888,626 |
Jewish Home Lifecare Sarah Neuman Center Westchester New York, NY | $40,158,579 | $47,212,238 |
United Home For Aged Hebrews New Rochelle, NY | $40,914,674 | $49,305,789 |
Carmel Richmond Nursing Home Inc Staten Island, NY | $55,443,617 | $48,780,538 |
New England Deaconess Association Concord, MA | $168,661,233 | $42,765,861 |
Ozanam Hall Of Queens Nursing Home Inc Bayside, NY | $72,263,682 | $46,054,461 |
Wesley Health Care Center Inc Saratoga Springs, NY | $29,960,994 | $37,958,192 |
St Johns Health Care Corporation Rochester, NY | $28,699,154 | $43,446,483 |
United Odd Fellow And Rebekah Home Bronx, NY | $62,645,372 | $41,096,050 |
Ferncliff Nursing Home Company Inc Rhinebeck, NY | $23,442,589 | $38,117,632 |
Jamaica Hospital Nursing Home Inc Jamaica, NY | $42,982,074 | $34,835,286 |
Kendal On Hudson Sleepy Hollow, NY | $201,830,109 | $36,128,421 |