Salem Community Corp
- Assets
- $69.8m
- Revenue
- $20.1m
- Investments
- $0.0
- Employees
- 345
- Location
- Worcester, MA
- Founding
- 08/1985
- Data as of
- 12/2021
- EIN
- 04-2696489
Organization Overview
Salem Community Corp is located in Worcester, MA. The organization was established in 1985. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2021, Salem Community Corp employed 345 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Community Corp 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, Salem Community Corp generated $20.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $21.3m during the year ending 12/2021. While expenses have increased by 5.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING AND SUPPORT TO ITS RESIDENTS AND OTHER SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S PROGRAM SERVICES INCLUDE THE OPERATION OF AN 82-BED NURSING HOME, KNOLLWOOD NURSING CENTER AND A 228-UNIT CONTINUING CARE RETIREMENT AND ASSISTED LIVING FACILITY, BRIARWOOD COMMUNITY, IN WORCESTOR AND WEST BOYLSTON, MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Foley-Martel Nursing Home Administrator | 40 | $120,423 | |
Deborah Audet Director Of Nursing | 40 | $112,722 | |
Alice Eriksen Director Of Sales And Mark | 40 | $104,535 | |
Gail Morgan Vice President | OfficerTrustee | 3 | $0 |
Robert Chase President | OfficerTrustee | 3 | $0 |
Stephen Pitcher Treasurer | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Professional Nurses Health Services Inc Nursing Staffing | 12/30/21 | $421,968 |
National Facility Services Inc Maintenance | 12/30/21 | $840,480 |
Aegis Sciences Corp Lab Processing | 12/30/21 | $413,551 |
Rogerson Communities Management Company | 12/30/21 | $467,406 |
Intelycare Inc Nursing Staffing | 12/30/21 | $490,872 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $47,737 |
| Related organizations | $0 |
| Government grants | $82,897 |
| All other contributions, gifts, grants, and similar amounts not included above | $482,934 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $613,568 |
| Total Program Service Revenue | $18,440,427 |
| Investment income | $182,346 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$95,340 |
| Net Gain/Loss on Asset Sales | $539,273 |
| Net Income from Fundraising Events | -$15,618 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,062,867 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,122,095 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $716,149 |
| Payroll taxes | $558,725 |
| Fees for services: Management | $592,225 |
| Fees for services: Legal | $65,509 |
| Fees for services: Accounting | $62,070 |
| Fees for services: Lobbying | $1,320 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,652 |
| Fees for services: Other | $1,249,325 |
| Advertising and promotion | $131,366 |
| Office expenses | $515,547 |
| Information technology | $117,644 |
| Royalties | $0 |
| Occupancy | $1,404,840 |
| Travel | $4,977 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,713 |
| Interest | $1,553,809 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,726,526 |
| Insurance | $270,456 |
| All other expenses | $419,548 |
| Total functional expenses | $21,274,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,598,314 |
| Savings and temporary cash investments | $548,216 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $978,857 |
| 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 | $378,420 |
| Net Land, buildings, and equipment | $48,905,264 |
| Investments—publicly traded securities | $8,888,883 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $603,072 |
| Other assets | $932,782 |
| Total assets | $69,833,808 |
| Accounts payable and accrued expenses | $1,351,457 |
| Grants payable | $0 |
| Deferred revenue | $6,933,613 |
| Tax-exempt bond liabilities | $37,519,770 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $948,861 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,672,349 |
| Total liabilities | $79,426,050 |
| Net assets without donor restrictions | -$12,263,960 |
| Net assets with donor restrictions | $2,671,718 |
| 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 | $69,833,808 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Salem Community Corp has recieved totaling $270,000.
| Awarding Organization | Amount |
|---|---|
Stoddard Charitable Trust Worcester, MA PURPOSE: REPLACE COTTAGE WINDOWS, RE-ROOF THE | $250,000 |
Stoddard Charitable Trust Worcester, MA PURPOSE: SC GRANT-VAL LORING | $10,000 |
Stoddard Charitable Trust Worcester, MA PURPOSE: SC GRANT-VAL LORING - APPLIED TO BOA | $8,000 |
Melvin S Cutler Charitable Foundation Worcester, MA PURPOSE: GENERAL | $2,000 |
Endowment Analysis
| Beg. Balance | $2,674,595 |
| Earnings | $320,736 |
| Net Contributions | $442,061 |
| Other Expense | $765,673 |
| Ending Balance | $2,671,719 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Armenian Home Inc Forest Hills, NY | $920,237 | $91,924 |
The Riverwoods Company At Exeter New Hampshire Exeter, NH | $189,550,060 | $45,820,937 |
North Hill Needham Inc Needham, MA | $218,215,357 | $46,801,004 |
Church Home Of Hartford Bloomfield, CT | $129,665,157 | $38,203,395 |
Church Homes Inc Congregational Hartford, CT | $66,814,716 | $47,094,677 |
Carleton Willard Homes Inc Bedford, MA | $84,483,009 | $38,647,048 |
The Gerry Homes Gerry, NY | $84,710,797 | $32,122,668 |
Fallon Health Weinberg Inc Getzville, NY | $39,412,564 | $35,899,883 |
Peconic Landing At Southold Inc Greenport, NY | $144,140,145 | $36,575,086 |
Michigan Automobile Insurance Placement Facility Johnston, RI | $95,743,135 | $26,699,927 |
Symmes Life Care Inc Lexington, MA | $195,262,615 | $31,035,434 |
Whitney Center Inc Hamden, CT | $108,082,028 | $31,737,893 |