Northeast Hospital Corporation

Organization Overview

Northeast Hospital Corporation is located in Beverly, MA. The organization was established in 1934. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2021, Northeast Hospital Corporation employed 3,033 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Hospital Corporation 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 09/2021, Northeast Hospital Corporation generated $423.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $386.7m during the year ending 09/2021. While expenses have increased by 2.5% per year over the past 6 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.

Since 2015, Northeast Hospital Corporation has awarded 71 individual grants totaling $1,587,955. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CENTERING ON A CONCEPT AND CONTINUUM OF CARE THAT EMBRACES THE HEALTH, WELL-BEING AND DIGNITY OF EACH PATIENT, REGARDLESS OF THEIR ABILITY TO PAY, NORTHEAST HOSPITAL CORPORATION (NHC) HAS FOUR FACILITIES, BEVERLY HOSPITAL, ADDISON GILBERT HOSPITAL, LAHEY OUTPATIENT CENTER, DANVERS AND BAYRIDGE HOSPITAL AND IS FOUNDED ON THE CONCEPTS OF QUALITY, CARING AND COMMUNITY. TOGETHER, THESE INSTITUTIONS ARE DEDICATED TO PROVIDING THE HIGHEST QUALITY, PATIENT-CENTERED MEDICAL CARE FOR MASSACHUSETTS' NORTH SHORE AND CAPE ANN RESIDENTS.

Describe the Organization's Program Activity:

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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Wise Construction Corp
Construction Services
$3,152,112
Unidine Corporation
Mealservice - Cafeteria
$2,335,558
Quest Diagnostics
Purchased Services - Lab Sendouts
$1,667,106
Beth Israel Lahey Health Inc (R)
Beth Israel Lahey Health Professional Se
$32,367,422
Angelica Healthcare Svc Group
Linen & Laundry Services
$1,586,330
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$66,790
Related organizations$0
Government grants $1,346,348
All other contributions, gifts, grants, and similar amounts not included above$3,947,711
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,360,849
Total Program Service Revenue$388,409,679
Investment income $2,056,746
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,618,583
Net Gain/Loss on Asset Sales $19,552,573
Net Income from Fundraising Events $9,382
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $423,580,610

Grants Awarded

Over the last fiscal year, Northeast Hospital Corporation has awarded $415,905 in support to 18 organizations.

Grant RecipientAmount

GLOUCESTER FAMILY HEALTH CENTER

PURPOSE: GLOUCESTER FAMILY HEALTH CENTER

$81,510

BEVERLY MAIN STREETS

Org PageRecipient Profile

Beverly, MA

PURPOSE: BEVERLY MAIN STREETS

$45,000

YMCA OF THE NORTH SHORE

Org PageRecipient Profile

Beverly, MA

PURPOSE: NORTH SHORE YMCA ENHANCE FITNESS

$43,988

Gloucester, MA

PURPOSE: THE OPEN DOOR FOOD IS MEDICINE PROGRAM

$30,000

Gloucester, MA

PURPOSE: WELLSPRING HOUSE ACCELERATING ACCESS TO HIGHER EDUCATION PROGRAM

$27,500

GREATER LYNN SENIOR SERVICES

Org PageRecipient Profile

Lynn, MA

PURPOSE: GREATER LYNN SENIOR SERVICES PROJECT UNIPER

$27,500
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 11 grants that Northeast Hospital Corporation has recieved totaling $157,937.

Awarding OrganizationAmount
Schwab Charitable Fund

San Francisco, CA

PURPOSE: HEALTH

$44,200
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$25,000
Mary E Bell And Lucy S Bell Indenture Of Trust

Dallas, TX

PURPOSE: UNRESTRICTED GENERAL

$22,700
Fiduciary Charitable Foundation

Boston, MA

PURPOSE: DONATIONS

$15,000
$13,862
Peoples United Community Foundation Of Eastern Massachusetts Inc

Wilmington, DE

PURPOSE: CONNECTING YOUNG MOMS COMPREHENSIVE SUPPORT SERVICES PROGRAM

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$23,643,066
Earnings$2,979,279
Net Contributions$3,439,118
Other Expense$3,204,689
Ending Balance$26,856,774

Peer Organizations

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