Spectrum Health Systems Inc
- Assets
- $87.6m
- Revenue
- $97.5m
- Investments
- $369.8k
- Employees
- 1,818
- Location
- Worcester, MA
- Founding
- 09/1971
- Data as of
- 06/2021
- EIN
- 04-2478978
Organization Overview
Spectrum Health Systems Inc is located in Worcester, MA. The organization was established in 1971. According to its NTEE Classification (F30) the organization is classified as: Mental Health Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 06/2021, Spectrum Health Systems Inc employed 1,818 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spectrum Health Systems 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 06/2021, Spectrum Health Systems Inc generated $97.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $75.8m during the year ending 06/2021. While expenses have increased by 1.9% 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 2021, Spectrum Health Systems Inc has awarded 19 individual grants totaling $170,000. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE HIGHEST QUALITY OF SERVICES TO INDIVIDUALS SEEKING TREATMENT FOR SUBSTANCE ABUSE AND/OR MENTAL HEALTH ISSUES. WE ASSIST OUR CLIENTS IN ACHIEVING SOBRIETY, SUSTAINING RECOVERY AND FULFILLING PERSONAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORRECTION SERVICES - PROVIDES SUBSTANCE ABUSE COUNSELING WITHIN CORRECTIONS FACILITIES AND PAROLEES IN THE COMMUNITY. SERVING NEARLY 6,600 INDIVIDUALS DAILY IN 7 STATES.
OUTPATIENT SUBSTANCE ABUSE SERVICES - PROVIDES ONGOING COUNSELING AND NARCOTICS TREATMENT SUCH AS METHADONE AND SUBOXONE, IN ADDITION TO SERVICES SUCH AS DRIVER ALCOHOL AWARENESS, BATTERER INTERVENTION, PEER RECOVERY AND DRUG FREE COUNSELING. SERVING NEARLY 2,500 INDIVIDUALS ON ANY GIVEN DAY.
INPATIENT SUBSTANCE ABUSE SERVICES - PROVIDES SUBSTANCE ABUSE TREATMENT AND COUNSELING IN VARIOUS RESIDENTIAL AND DETOX SETTINGS. SERVING NEARLY 220 INDIVIDUALS ON ANY GIVEN DAY.
ADOLESCENT SERVICES/SOBER HOUSING/OTHER MISCELLANEOUS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Isaacson President/ceo | Officer | 40 | $371,599 |
Sherry Ellis COO | Officer | 40 | $285,761 |
Joseph Rose CFO | Officer | 40 | $235,392 |
Christopher Petrozzi VP Of Correctional Service | Officer | 40 | $188,863 |
Kristin Nolan VP Of Behavioral Services | Officer | 40 | $188,615 |
Stacy Flanagan VP Of Hr | Officer | 40 | $179,903 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bowditch & Dewey Legal | 6/29/21 | $151,954 |
Nexdine Llc Dining | 6/29/21 | $1,232,291 |
Lori Dilorenzo-buskiewicz Physician | 6/29/21 | $206,036 |
Bob Stake's A-1 Cleaning Services Housekeeping | 6/29/21 | $423,775 |
Bollus Lynch Llp Audit | 6/29/21 | $101,100 |
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 | $44,880 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,880 |
| Total Program Service Revenue | $97,139,138 |
| Investment income | $127,706 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,550 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $97,478,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $180,500 |
| Grants and other assistance to domestic individuals. | $2,617 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,142,462 |
| Compensation of current officers, directors, key employees. | $1,365,010 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,524,135 |
| Pension plan accruals and contributions | $469,822 |
| Other employee benefits | $4,556,616 |
| Payroll taxes | $4,724,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,445 |
| Fees for services: Accounting | $93,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,374,294 |
| Advertising and promotion | $353,578 |
| Office expenses | $320,001 |
| Information technology | $1,073,507 |
| Royalties | $0 |
| Occupancy | $5,553,573 |
| Travel | $395,037 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $206,808 |
| Interest | $166,528 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,855,814 |
| Insurance | $726,523 |
| All other expenses | $0 |
| Total functional expenses | $75,814,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,247,012 |
| Savings and temporary cash investments | $6,099,858 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,849,845 |
| 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 | $404,553 |
| Net Land, buildings, and equipment | $20,614,216 |
| Investments—publicly traded securities | $13,601,374 |
| Investments—other securities | $369,781 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,376,648 |
| Total assets | $87,563,287 |
| Accounts payable and accrued expenses | $8,396,824 |
| Grants payable | $0 |
| Deferred revenue | $20,992 |
| Tax-exempt bond liabilities | $6,039,547 |
| 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 | $96,331 |
| Total liabilities | $14,553,694 |
| Net assets without donor restrictions | $72,501,308 |
| Net assets with donor restrictions | $508,285 |
| 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 | $87,563,287 |
Grants Awarded
Over the last fiscal year, Spectrum Health Systems Inc has awarded $170,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ST VINCENT DE PAUL PURPOSE: TO SUPPORT COMMUNITY PROGRAMS THAT SERVE IN THE SAME COMMUNITIES THAT SPECTRUM OPERATES. | $10,000 |
Waltham, MA PURPOSE: TO SUPPORT COMMUNITY PROGRAMS THAT SERVE IN THE SAME COMMUNITIES THAT SPECTRUM OPERATES. | $10,000 |
North Adams, MA PURPOSE: TO SUPPORT COMMUNITY FOOD BANKS THAT SERVE IN THE SAME COMMUNITIES THAT SPECTRUM OPERATES. | $10,000 |
Fitchburg, MA PURPOSE: TO SUPPORT COMMUNITY PROGRAMS THAT SERVE IN THE SAME COMMUNITIES THAT SPECTRUM OPERATES. | $10,000 |
Framingham, MA PURPOSE: TO SUPPORT COMMUNITY FOOD BANKS THAT SERVE IN THE SAME COMMUNITIES THAT SPECTRUM OPERATES. | $10,000 |
Southbridge, MA PURPOSE: TO SUPPORT COMMUNITY PROGRAMS THAT SERVE IN THE SAME COMMUNITIES THAT SPECTRUM OPERATES. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Spectrum Health Systems Inc has recieved totaling $1,109.
| Awarding Organization | Amount |
|---|---|
Wyman-Gordon Foundation Worcester, MA PURPOSE: UNSOLICITED ANNUAL GRANT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $109 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Services For The Underserved Inc New York, NY | $158,983,131 | $233,900,178 |
The May Institute Inc Randolph, MA | $81,888,199 | $141,934,180 |
Behavioral Health Network Inc Springfield, MA | $65,551,106 | $133,127,177 |
Bay Cove Human Services Inc Boston, MA | $73,611,314 | $126,196,963 |
Project Renewal Inc New York, NY | $69,968,060 | $104,099,662 |
Independent Support Services Inc Monticello, NY | $24,263,937 | $88,755,819 |
Northeast Behavioral Health Corporation Danvers, MA | $26,435,080 | $68,219,943 |
Spectrum Health Systems Inc Worcester, MA | $87,563,287 | $97,478,022 |
Liberty Resources Inc Syracuse, NY | $28,260,696 | $72,702,339 |
Community Health Resources Inc Windsor, CT | $27,429,271 | $60,593,569 |
Washington County Mental Health Services Inc Montpelier, VT | $30,263,441 | $58,801,152 |
Interborough Developmental & Consultation Center Inc Brooklyn, NY | $61,623,980 | $56,914,779 |