Health Foundation Of Central Massachusetts Inc
- Assets
- $98.6m
- Revenue
- $8.0m
- Investments
- $52.8m
- Employees
- 6
- Location
- Worcester, MA
- Founding
- 06/1978
- Data as of
- 12/2021
- EIN
- 04-2633274
Organization Overview
Health Foundation Of Central Massachusetts Inc is located in Worcester, MA. The organization was established in 1978. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2021, Health Foundation Of Central Massachusetts Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health Foundation Of Central Massachusetts Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Health Foundation Of Central Massachusetts Inc generated $8.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 1.8% per year over the past 7 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 2014, Health Foundation Of Central Massachusetts Inc has awarded 174 individual grants totaling $19,473,476. 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 IMPROVE THE HEALTH STATUS OF THOSE WHO LIVE OR WORK IN CENTRAL MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FUNDING TO NON-PROFIT ORGANIZATIONS FOR THE PURPOSE OF IMPROVING THE HEALTH OF THOSE WHO LIVE AND WORK IN CENTRAL MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janice B Yost Edd President/ceo | Officer | 37.5 | $283,078 |
Amie Shei PHD Vice President Of Programs | 37.5 | $160,727 | |
Michelle L Ewing Controller | Officer | 37.5 | $94,037 |
Barent W Walsh PHD Secretary | OfficerTrustee | 2 | $0 |
Gisela Velez MD MPH Assistant Secretary | OfficerTrustee | 2 | $0 |
Timothy M Bibaud JD Chairman | OfficerTrustee | 2 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $602,949 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,267,242 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,039,753 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,561,905 |
| 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. | $298,435 |
| Compensation of current officers, directors, key employees. | $68,141 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,736 |
| Pension plan accruals and contributions | $23,883 |
| Other employee benefits | $76,958 |
| Payroll taxes | $50,860 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,205 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $929,115 |
| Fees for services: Other | $133,936 |
| Advertising and promotion | $0 |
| Office expenses | $16,793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $121,588 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,314 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,490 |
| Insurance | $8,682 |
| All other expenses | $722 |
| Total functional expenses | $4,774,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,513 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $330,231 |
| 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 | $7,737 |
| Net Land, buildings, and equipment | $9,568 |
| Investments—publicly traded securities | $44,935,365 |
| Investments—other securities | $52,826,195 |
| Investments—program-related | $189,084 |
| Intangible assets | $0 |
| Other assets | $210,309 |
| Total assets | $98,619,002 |
| Accounts payable and accrued expenses | $120,179 |
| Grants payable | $323,892 |
| 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 | $210,309 |
| Total liabilities | $654,380 |
| Net assets without donor restrictions | $97,964,622 |
| Net assets with donor restrictions | $0 |
| 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 | $98,619,002 |
Grants Awarded
Over the last fiscal year, Health Foundation Of Central Massachusetts Inc has awarded $2,507,759 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Worcester, MA PURPOSE: PRIVATE WELL PROGRAM TO PROTECT PUBLIC HEALTH | $425,000 |
Ware, MA PURPOSE: QUABOAG CONNECTOR: SOLUTIONS FOR RURAL TRANSPORTATION | $425,000 |
Lexington, MA PURPOSE: ENCOMPASS: COMMUNITY AND COLLABORATION FOR FOSTER FAMILIES | $424,815 |
Boston, MA PURPOSE: READYGO - READYING EDUCATORS AND DEVELOPING YOUNG CHILDREN FOR GREAT OUTCOMES | $317,559 |
Worcester, MA PURPOSE: WORCESTER REGIONAL FOOD HUB, YEAR 5 | $250,000 |
Fitchburg, MA PURPOSE: BUILDOUT FOR FOUR URGENT CARE ROOMS IN CHC'S NEW GARDNER COMMUNITY HEALTH CENTER | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Health Foundation Of Central Massachusetts Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Fallon Community Health Plan Inc Worcester, MA PURPOSE: GENERAL SUPPORT | $25,000 |
Endowment Analysis
| Beg. Balance | $87,729,157 |
| Earnings | $13,634,888 |
| Admin Expense | $169,178 |
| Other Expense | $916,638 |
| Grants | $2,596,199 |
| Ending Balance | $97,682,030 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Newport Hospital Foundation Inc Newport, RI | $132,285,695 | $13,877,816 |
Hudson East River Systems Llc New York, NY | $9,323,421,475 | $81,815,633 |
The Childrens Health Fund New York, NY | $7,589,617 | $9,406,757 |
Bronxcare Health Integrated Services System Inc Bronx, NY | $2,917,349 | $9,136,103 |
Tufts Health Plan Foundation Inc Canton, MA | $128,427,090 | $19,685,263 |
New York Hospital Cornell Medical Center Fund Inc New York, NY | $237,549,829 | $20,911,565 |
Northeast Health Foundation Inc Albany, NY | $23,246,961 | $6,972,947 |
New York Foundling Charitable Corporation New York, NY | $0 | $3,656,772 |
Al Sigl Center For Rehabilitation Agencies Inc Rochester, NY | $54,423,589 | $5,794,950 |
St Anns Foundation Inc Rochester, NY | $59,915,340 | $4,860,702 |
Templeton Foundation Cooperstown, NY | $47,757,464 | $7,194,400 |
Israel Healthcare Foundation New York, NY | $6,879,692 | $6,486,334 |