Savin Long Term Care Corporation
- Assets
- $10.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Medford, MA
- Founding
- 06/1989
- Data as of
- 09/2021
- EIN
- 04-3012616
Organization Overview
Savin Long Term Care Corporation is located in Medford, MA. The organization was established in 1989. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Savin Long Term Care 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, Savin Long Term Care Corporation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $35.8k during the year ending 09/2021. While expenses have increased by 12.2% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH, ACQUIRE, OPERATE AND MAINTAIN NURSING HOMES AND LONG TERM CARE FACILITIES IN MASSACHUSETTS AND PROVIDE MEDICAL, EDUCATIONAL AND CHARITABLE SERVICES CONSISTENT WITH THEIR LICENSURE AND THE ORGANIZATION'S TAX EXEMPT PURPOSES.
Describe the Organization's Program Activity:
OPERATED AND MAINTAINED NURSING HOME AND LONG TERM CARE FACILITIES WITHIN MASSACHUSETTS AND PROVIDED SUCH MEDICAL, EDUCATIONAL AND CHARITABLE SERVICES AS WAS CONSISTENT WITH THEIR LICENSURE AND THE ORGANIZATION'S TAX EXEMPT PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles R Whipple ESQ Clerk/director | OfficerTrustee | 1 | $0 |
Michael P Connelly Treasurer/director (until 10/2020) | OfficerTrustee | 1 | $0 |
Susan Sandberg President/ceo/director (until 7/2021) | OfficerTrustee | 1 | $0 |
William Wyman Treasurer/director | OfficerTrustee | 1 | $0 |
Pamela Whelton Interim CEO (began 6/2021) | OfficerTrustee | 1 | $0 |
Lisa Russell Assistant Clerk | Officer | 1 | $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 | $183,812 |
| Investment income | $125,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,332,699 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,641,644 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $125 |
| Total functional expenses | $35,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,182,607 |
| Investments—other securities | $0 |
| Investments—program-related | $1,021,249 |
| Intangible assets | $0 |
| Other assets | $1,830,933 |
| Total assets | $10,034,789 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $10,034,789 |
| 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 | $10,034,789 |
Peer Organizations
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|---|---|---|
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Madonna Manor Inc North Attleboro, MA | $3,390,766 | $9,186,999 |
St Joseph Manor Health Care Inc Brockton, MA | $6,980,662 | $8,977,109 |
New Bedford Jewish Convalescent Home Inc New Bedford, MA | $7,152,066 | $9,275,124 |
Bronxwood Home For The Aged Inc Bronx, NY | $8,611,345 | $8,452,055 |
Bethany Nursing Home And Health Related Facility Inc Horseheads, NY | $9,235,158 | $10,577,157 |
Visiting Nurse & Hospice Of Litchfield County Inc Winsted, CT | $28,841,530 | $11,942,495 |
Margaretville Nursing Home Inc Margaretville, NY | $4,523,054 | $6,237,023 |
Home For The Aged Of The Little Sisters Of The Poor Queens Village, NY | $10,818,899 | $8,334,693 |
Armenian Nursing And Rehabilitation Center Inc Jamaica Plain, MA | $5,079,151 | $7,611,131 |
Wells Nursing Home Inc Johnstown, NY | $2,764,109 | $7,513,024 |
Chelsea Jewish Lifecare Inc Chelsea, MA | $26,644,582 | $8,106,917 |