Masonicare Corporation
- Assets
- $62.8m
- Revenue
- $7.4m
- Investments
- $1.9m
- Employees
- 162
- Location
- Wallingford, CT
- Founding
- 05/1996
- Data as of
- 09/2021
- EIN
- 06-1435919
Organization Overview
Masonicare Corporation is located in Wallingford, CT. The organization was established in 1996. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2021, Masonicare Corporation employed 162 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masonicare 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, Masonicare Corporation generated $7.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $14.9m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 6 years. 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
MASONICARE IS A PARENT HOLDING COMPANY AND SUPPORT ORGANIZATION FOR ITS AFFILIATE CORPORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES MANAGEMENT SUPPORT FOR ITS AFFILIATES WHO PROVIDE GERIATRIC CARE SERVICES, HOSPITAL SERVICES, MANAGEMENT SERVICES, FUNDRAISING SERVICES AND INVESTMENT MANAGEMENT SERVICES. THIS IS DONE WITH A VIEW OF FURTHERING THE LONG-RANGE GOALS AND TRADITIONAL OBJECTIVES AND VALUES OF PROVIDING FOR THE NEEDS OF AN AGING POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Assistant Secretary | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Netsmart It Services | 9/29/21 | $755,851 |
Pointclickcare It Services | 9/29/21 | $273,319 |
Cdw Government It Services | 9/29/21 | $333,300 |
The Worx Group Llc Marketing | 9/29/21 | $609,663 |
Pc Connection It Services | 9/29/21 | $192,843 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $46,210 |
| 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 | $46,210 |
| Total Program Service Revenue | $7,361,846 |
| Investment income | $6,036 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$33,931 |
| Net Gain/Loss on Asset Sales | $3,520 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,389,407 |
| 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. | $1,267,219 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,758,979 |
| Pension plan accruals and contributions | $989,592 |
| Other employee benefits | $1,495,914 |
| Payroll taxes | $383,823 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $363,750 |
| Fees for services: Accounting | $23,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $510,585 |
| Advertising and promotion | $147,366 |
| Office expenses | $18,744 |
| Information technology | $465,539 |
| Royalties | $0 |
| Occupancy | $347,639 |
| Travel | $58,162 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,477 |
| Interest | $568,715 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $929,779 |
| Insurance | $111,606 |
| All other expenses | $22,519 |
| Total functional expenses | $14,941,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,863,859 |
| Savings and temporary cash investments | $3,050,119 |
| 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 | $4,108,222 |
| Inventories for sale or use | $77,193 |
| Prepaid expenses and deferred charges | $572,430 |
| Net Land, buildings, and equipment | $10,676,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,859,079 |
| Investments—program-related | $26,581,019 |
| Intangible assets | $1,426,591 |
| Other assets | $10,572,988 |
| Total assets | $62,787,609 |
| Accounts payable and accrued expenses | $6,135,652 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $104,264,120 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,888,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,516,663 |
| Total liabilities | $137,804,435 |
| Net assets without donor restrictions | -$75,016,826 |
| 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 | $62,787,609 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Masonicare Corporation has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Eastern Star Charity Foundation Of Conn Inc Wallingford, CT PURPOSE: BENEVOLENCE | $5,500 |
Endowment Analysis
| Beg. Balance | $84,884,852 |
| Earnings | $3,659,627 |
| Net Contributions | $457,427 |
| Other Expense | $327,375 |
| Grants | $192,064 |
| Ending Balance | $88,482,467 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbiadoctors Newyork-Presbyterian Imaging New York, NY | $48,011,662 | $60,111,009 |
Western Connecticut Health Network Inc Danbury, CT | $607,496,068 | $32,480,212 |
Baystate Health Inc Springfield, MA | $239,302,322 | $40,124,462 |
Harrington Physician Services Inc Southbridge, MA | $5,550,764 | $24,087,781 |
Coastal Medical Physicians Inc Providence, RI | $21,618,026 | $34,586,509 |
Auburn Memorial Medical Services Pc Auburn, NY | $2,235,754 | $24,512,215 |
Rochester Regional Health Rochester, NY | $128,642,293 | $30,753,165 |
Mass General Brigham Incorporated Boston, MA | $81,562,366 | $28,772,720 |
Oak Orchard Community Inc Brockport, NY | $20,165,727 | $27,606,467 |
Upstream Usa Inc Boston, MA | $120,584,353 | $35,269,071 |
Upstate Community Medical P C Syracuse, NY | $6,542,142 | $26,680,338 |
Montefiore Medicine Academic Health System Inc Tarrytown, NY | $16,007,860 | $26,430,573 |