Miriam Osborn Memorial Home Association
- Assets
- $166.0m
- Revenue
- $45.0m
- Investments
- $13.6m
- Employees
- 499
- Location
- Rye, NY
- Founding
- 12/1934
- Data as of
- 12/2020
- EIN
- 13-5562312
Organization Overview
Miriam Osborn Memorial Home Association, operating under the name The Osborn, is located in Rye, NY. The organization was established in 1934. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Osborn employed 499 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Osborn 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 12/2020, Osborn generated $45.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $51.2m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPERIOR LIVING COMMUNITIES AND HEALTH CARE SERVICES WHILE ASSURING THE OSBORN'S LONG TERM FINANCIAL SECURITY AND MAINTAINING OUR COMMITMENT TO CHARITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OSBORN OPERATES A RETIREMENT COMMUNITY OFFERING A CONTINUUM OF CARE WHICH INCLUDES INDEPENDENT LIVING RESIDENCES AND SERVICES, ASSISTED LIVING RESIDENCES AND SERVICES, THE H.O.P.E. CENTER FOR MEMORY CARE, AND A SKILLED NURSING FACILITY SERVING OVER 800 SENIOR CITIZENS, THE PAVILION. MEDICAL AND NURSING STAFF ARE SPECIALISTS IN LONG TERM CHRONIC CARE INCLUDING CARE FOR THOSE AFFECTED WITH ALZHEIMER'S DISEASE AND RELATED DEMENTIA, AND SUB-ACUTE CARE INCLUDING SHORT-TERM PHYSICAL REHABILITATION, SUB-ACUTE MEDICAL CARE, HOSPICE CARE, AND RESPITE CARE. CHARITY CARE NOT BILLED OR COLLECTED AT MARKET RATES WAS $2,303,852 IN 2021. THE ESTIMATED COST OF PROVIDING CHARITY CARE WAS $2,948,514 IN 2021.
MIRIAM OSBORN MEMORIAL HOME ASSOCIATON PERFORMS ADMINISTRATIVE SERVICES FOR STERLING HOME CARE AND THE OSBORN FOUNDATION AND RECEIVES MANAGEMENT FEES FOR THESE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Anderson President/ceo | Officer | 24.37 | $657,610 |
Christopher Ferreri Chief Operating Officer | Officer | 37.5 | $517,954 |
Elizabeth Rossi VP Human Resources | Officer | 37.5 | $386,428 |
Robert S Davis CFO And Treasurer | Officer | 24.37 | $356,781 |
Stephanie Larsen VP And General Counsel | Officer | 37.5 | $227,263 |
Christa Picciano-Daniello VP Sales | Officer | 37.5 | $208,814 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clean Air Quality Services Inc Construction | 12/30/21 | $663,087 |
L And M Company Of Nieto Contractor Construction | 12/30/21 | $501,809 |
Sound Communications Inc Advertising | 12/30/21 | $547,274 |
Us Foodservice Inc Food Service | 12/30/21 | $801,621 |
Quality Renovation And Design Inc Construction | 12/30/21 | $735,876 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $190,000 |
| Investment income | $247,373 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $84,596 |
| Net Gain/Loss on Asset Sales | $2,454,447 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,008,516 |
| Statement of Expenses | |
|---|---|
| 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. | $2,808,919 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,548,594 |
| Pension plan accruals and contributions | $1,589,956 |
| Other employee benefits | $3,078,845 |
| Payroll taxes | $1,776,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150,128 |
| Fees for services: Accounting | $80,064 |
| Fees for services: Lobbying | $4,478 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $295,345 |
| Fees for services: Other | $457,114 |
| Advertising and promotion | $1,111,505 |
| Office expenses | $3,117,709 |
| Information technology | $660,866 |
| Royalties | $0 |
| Occupancy | $3,783,408 |
| 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 | $9,515,594 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $51,187,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,230,802 |
| Savings and temporary cash investments | $447,846 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,194,271 |
| 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 | $1,032,762 |
| Investments—publicly traded securities | $52,271,841 |
| Investments—other securities | $13,592,118 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,295,779 |
| Total assets | $165,989,645 |
| Accounts payable and accrued expenses | $19,659,236 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $25,305,200 |
| Escrow or custodial account liability | $923,347 |
| 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 | $178,433,447 |
| Total liabilities | $224,321,230 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$58,331,585 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Miriam Osborn Memorial Home Association has recieved totaling $12.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miriam Osborn Memorial Home Association Rye, NY | $165,989,645 | $45,008,516 |
Meadows Standardbred Owners Association Meadow Lands, PA | $2,546,597 | $10,372,771 |
Womens Prison Association And Home New York, NY | $6,652,586 | $9,309,545 |
Pradera Corporation Philadelphia, PA | $3,527,505 | $9,032,798 |
Homes For The Homeless Institute Inc New York, NY | $69,885,275 | $9,054,313 |
Initiative For A Competitive Inner City Inc Roxbury, MA | $11,137,097 | $6,700,624 |
Spring Meadows Association Of Responsible Tenants Inc Springfield, MA | $14,323,481 | $4,117,328 |
St Vincents Development Inc Trumbull, CT | $27,854,287 | $3,404,975 |
Bucks County Housing Group Inc Warminster, PA | $3,270,461 | $3,883,677 |
Mutual Housing Association Of Greater Hartford Inc Hartford, CT | $35,173,874 | $3,634,828 |
Monmouth Council No 9 Civil Service Association Housing Corporation Asbury Park, NJ | $13,033,199 | $4,484,843 |
Allentown Bnai Brith Housing Corp Allentown, PA | $7,631,458 | $3,117,871 |