Orchard Cove Inc
- Assets
- $64.3m
- Revenue
- $24.9m
- Investments
- $0.0
- Employees
- 302
- Location
- Canton, MA
- Founding
- 05/1991
- Data as of
- 09/2021
- EIN
- 22-3080006
Organization Overview
Orchard Cove Inc is located in Canton, MA. The organization was established in 1991. 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 09/2021, Orchard Cove Inc employed 302 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orchard Cove Inc 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, Orchard Cove Inc generated $24.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $24.6m during the year ending 09/2021. While expenses have increased by 1.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
ORCHARD COVE HAS A 45 BED SKILLED NURSING UNIT WITH THE INTENT TO PROVIDE CONDITIONS THAT FOSTER INDEPENDENCE, HEALTH AND SECURITY FOR PERSONS REQUIRING A SKILLED NURSING SETTING.
OTHER PROGRAM SERVICES ARE THOSE REVENUES AND EXPENSES ASSOCIATED WITH PROGRAM SERVICES BUT NOT DIRECTLY RELATED TO ONE OF THE TWO MAJOR CATEGORIES OF INDEPENDENT & ASSISTANCE IN LIVING OR HEALTHCARE CENTER. THIS MAY INCLUDE SERVICES AND/OR COSTS RELATED TO THE ONSITE WELLNESS CENTER OR THOSE SO CLOSELY INTERMINGLED THEY CANNOT BE ACCURATELY ALLOCATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aline Russotto Executive Director | Officer | 50 | $246,709 |
Carole Johnson Ccrc - Director Of Finance | 50 | $161,051 | |
Rebecca Donato Exec. Dir. Vitalize 360 | 50 | $138,481 | |
John Ralston Director, Culinary | 50 | $125,257 | |
Rob Faria Assistant Director Of Finance | 50 | $115,435 | |
Walter A Niederberger Executive Chef | 50 | $111,857 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $111,585 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,469 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,054 |
| Total Program Service Revenue | $20,846,217 |
| Investment income | $456,625 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,888 |
| Net Gain/Loss on Asset Sales | $3,145,024 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $72,644 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,931,454 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $50,333 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $246,709 |
| Compensation of current officers, directors, key employees. | $34,688 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,288,154 |
| Pension plan accruals and contributions | $118,738 |
| Other employee benefits | $1,256,164 |
| Payroll taxes | $843,053 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $148,277 |
| Fees for services: Accounting | $40,976 |
| Fees for services: Lobbying | $2,032 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,667 |
| Fees for services: Other | $114,290 |
| Advertising and promotion | $205,421 |
| Office expenses | $822,046 |
| Information technology | $277,681 |
| Royalties | $0 |
| Occupancy | $1,771,002 |
| Travel | $423 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,890 |
| Interest | $858,178 |
| Payments to affiliates | $1,486,881 |
| Depreciation, depletion, and amortization | $3,993,912 |
| Insurance | $214,568 |
| All other expenses | $194,289 |
| Total functional expenses | $24,577,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,891,691 |
| Savings and temporary cash investments | $833,211 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,487,794 |
| 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 | $178,445 |
| Net Land, buildings, and equipment | $14,237,650 |
| Investments—publicly traded securities | $22,342,828 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,354,081 |
| Total assets | $64,325,700 |
| Accounts payable and accrued expenses | $2,027,896 |
| Grants payable | $0 |
| Deferred revenue | $9,806,830 |
| Tax-exempt bond liabilities | $20,048,366 |
| Escrow or custodial account liability | $833,211 |
| 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 | $116,411,787 |
| Total liabilities | $149,128,090 |
| Net assets without donor restrictions | -$85,277,307 |
| Net assets with donor restrictions | $474,917 |
| 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 | $64,325,700 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Orchard Cove Inc has recieved totaling $32.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $32 |
Endowment Analysis
| Beg. Balance | $197,690 |
| Earnings | $41,830 |
| Net Contributions | $11,200 |
| Other Expense | $7,457 |
| Ending Balance | $243,263 |
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 |