Civic Intelligence

Home for Aged People in Fall River

990 • Fiscal year 2016 • EIN 04-2104315

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 13, 2017

1168 Highland AvenueFall River, MA 02720

(508) 679-0144

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.26x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

0.79x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

86th percentile

30%

Higher net margin than 86% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

30th percentile

$77,203

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

3rd percentile

-27%

Faster asset growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

94th percentile

92%

Faster revenue growth than 94% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$5,600,475

Down $2,109,638 (-27%) from 2015

Net Assets

Up

-$1,474,837

Up $2,406,363 (+62%) from 2015

Liabilities

Down

$7,075,312

Down $4,516,001 (-39%) from 2015

Revenue

Up

$8,906,316

Up $4,259,846 (+92%) from 2015

Expenses

Up

$6,275,730

Up $964,437 (+18%) from 2015

Net Income

Up

$2,630,586

Up $3,295,409 (+496%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$10M$0-$10MAssets 2010: $18,995,845Liabilities 2010: $11,701,909Net Assets 2010: $7,293,9362010Assets 2011: $17,953,262Liabilities 2011: $10,900,006Net Assets 2011: $7,053,2562011Assets 2012: $10,613,550Liabilities 2012: $9,596,210Net Assets 2012: $1,017,3402012Assets 2013: $9,127,426Liabilities 2013: $7,194,936Net Assets 2013: $1,932,4902013Assets 2014: $9,017,540Liabilities 2014: $11,888,441Net Assets 2014: -$2,870,9012014Assets 2015: $7,710,113Liabilities 2015: $11,591,313Net Assets 2015: -$3,881,2002015Assets 2016: $5,600,475Liabilities 2016: $7,075,312Net Assets 2016: -$1,474,8372016

Highlighted filing

2016

Assets$5,600,475
Liabilities$7,075,312
Net Assets-$1,474,837

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $5,451,7592010Revenue 2011: $5,292,807Expenses 2011: $5,142,104Net Income 2011: $150,7032011Expenses 2012: $4,761,5872012Revenue 2013: $3,997,396Expenses 2013: $4,011,981Net Income 2013: -$14,5852013Revenue 2014: $4,558,748Expenses 2014: $4,878,652Net Income 2014: -$319,9042014Revenue 2015: $4,646,470Expenses 2015: $5,311,293Net Income 2015: -$664,8232015Revenue 2016: $8,906,316Expenses 2016: $6,275,730Net Income 2016: $2,630,5862016

Highlighted filing

2016

Revenue$8,906,316
Expenses$6,275,730
Net Income$2,630,586
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 13, 2017
Return Version
2016v3.0
Gross Receipts
$9,383,687
Mission and Program Overview

Mission

To provide and maintain a continuous care retirement community which serves the residential, social and health-care needs of elders in the greater fall river, massachusetts area. To provide a charitable home for the aged people in fall river, massachusetts

To provide a charitable home for the aged people and maintain a continuous care retirement community which serves the residential, social and health-care needs of elders in the greater fall river, massachusetts area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,008,327$2,867,305▼ $141,022
Accounts Receivable$164,069$413,889▲ $249,820
Cash and Non-Interest-Bearing Accounts$114,405$102,663▼ $11,742
Intangible Assets$80,380--
Prepaid Expenses and Deferred Charges$25,498$29,268▲ $3,770
Inventories for Sale or Use$24,633$12,300▼ $12,333
Savings and Temporary Cash Investments$10,785$9,362▼ $1,423
Investments in Publicly Traded Securities$4,750--
Total Assets$7,710,113$5,600,475▼ $2,109,638
Other Assets Total$4,277,266$2,165,688▼ $2,111,578
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,499,478$4,742,471▲ $1,242,993
Accounts Payable and Accrued Expenses$1,469,966$2,130,356▲ $660,390
Other Liabilities$6,027,729$101,625▼ $5,926,104
Deferred Revenue$594,140$100,860▼ $493,280
Total Liabilities$11,591,313$7,075,312▼ $4,516,001
Net Assets / Fund Balance
Permanently Rstr Net Assets$4,308,829$2,197,252▼ $2,111,577
Unrestricted Net Assets$-8,190,029$-3,672,089▲ $4,517,940
Total Net Assets Fund Balance$-3,881,200$-1,474,837▲ $2,406,363
Total Liabilities and Net Assets / Fund Balance$7,710,113$5,600,475▼ $2,109,638

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,518,352$5,000,000$6,518,352
Land$1,263,015-$1,153,820
Equipment$85,938$466,963$552,901
Other Assets Org$2,165,688--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$4,282,016$-4,277,266→ $0$0-
2015$5,401,464$2,702▼ $344,799$300,000$4,282,016
2014$5,368,225$2,089▲ $31,150-$5,401,464
2013$4,981,058$569,249▲ $360,918$543,000$5,368,225
2012$5,477,236-▲ $353,822$750,000$4,981,058
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Kenneth StrongExecutive DirectorFT$77,203$77,203
Michael BaldassarreAdministratorPT$69,987$69,987

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Digennaro & Palumbo LLPLegal117 METRO CTR BLVD SUITE 2007, Warwick, RI 02886$107,278
Revenue and Support

Revenue Composition

Contributions and Grants
$85,780
Program Service Revenue
$4,314,556
Investment Income
$151,720
Other Revenue
$4,354,260
All Other Contributions
$85,780
Change in Net Assets
$2,630,586

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,777,016
Revenue Not Reported on Financial Statements
$1,129,300
Revenue Not Reported on Form 990
$-171,579
Other Revenue Adjustments
$1,129,300
Total Revenue per Audited Statements
$7,605,437
Total Revenue per Form 990
$8,906,316
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,347,207
Other Expenses$2,928,523
Total Fundraising Expense$25,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,454,101$252,276$18,000$2,724,377
Interest-$885,097-$885,097
Occupancy$453,993--$453,993
Payroll Taxes$265,214$37,575$1,763$304,552
Fees for Services Legal-$263,914-$263,914
Other Employee Benefits$146,421$24,142$1,330$171,893
Depreciation Depletion$143,808$6,333-$150,141
Current Officers, Directors, Trustees, and Key Employees-$144,885-$144,885
Other Expenses$210,118$84,213-$84,213
All Other Expenses$15,495$59,218-$74,713
Fees for Services Other-$43,029-$43,029
Advertising-$30,920$4,777$35,697
Office Expenses-$35,252-$35,252
Fees for Services Accounting-$34,966-$34,966
Insurance-$26,203-$26,203
Pension Plan Contributions-$1,500-$1,500
Conferences and Meetings-$615-$615
Total Functional Expenses$4,319,722$1,930,138$25,870$6,275,730

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$6,275,730
Expenses per Audited Statements$4,905,166
Total Expenses per Audited Statements$4,905,166
Expenses Not Reported on Financial Statements$1,370,564
Other Expense Adjustments$1,370,564
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
John F Stafford Ins Agency IncCHAIRMAN OF THE HOME OWNS MORE THAN 35% OF THE ENTITY ABOVE.JAMES KAY IS THE CHAIRMAN OF THE BOARD OF DIRECTORS AND IS THE OWNER OF JOHN F. STAFFORD INSURANCE AGENCY, INC. THIS AGENCY BROKERS INSURANCE POLICIES FOR THE ORGANIZATION. THIS RELATIONSHIP IS APPROVED BY THE BOARD OF DIRECTORS THROUGH FORMAL VOTE AT THE ANNUAL MEETING. $175,590 OF INSURANCE PREMIUMS PAID ON POLICIES BROKERED THROUGH THIS INSURANCE COMPANY RESULTED IN COMMISSIONS BEING PAID TO STAFFORD INSURANCE.No$175,590
Bogle Deascentis CoughlinMember of Board of Directors Is a Partner of This Law FirmPETER BOGLE IS A PARTNER OF THE LAW FIRM AND ALSO A MEMBER OF THE BOARD OF DIRECTORS. THIS RELATIONSHIP IS APPROVED BY THE BOARD OF DIRECTORS THROUGH FORMAL VOTE AT THE ANNUAL MEETING. THE FIRM PROVIDED SERVICES IN ORDER FOR THE HOME TO BE ALLOWED A $2.4 MILLION RELEASE FROM A PERPETUAL TRUST IN CONJUNCTION WITH A TURNAROUND PLAN APPROVED IN NOVEMBER 2015.No$12,156
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Deposits$52,840
Annuity Payment Liability$48,785
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The home for aged people's finance and executive committee reviews the form 990 and approves it for filing.

Form 990, Part VI, Section B, Line 12C

Anyone associated with the home discloses annually any interests they may have in a business relationship or as a related party. There is full disclosure before the annual meeting on the annual reporting form filed by the home for aged people.

Form 990, Part VI, Section B, Line 15

The finance and executive committee work with the administrator regarding hiring. Key management personnel - line staff are intereviewed and hiring is authorized by the administrator. For the hiring of the adams house administrator a search firm was used. That firm specialized in long term care searching for professionals for a fee. Also, the home reviews the annual salary survey as conducted by aahsa. The finance and executive committee use the compensation survey analysis through both the aahsa and achca surveys to establish the compensation of the administrator with the final approval of the board.

Form 990, Part VI, Section C, Line 19

Financial statements and conflict of interest policy are available upon request via the approval of the organization's treasurer or executive director. Financial statements are published on guidestar and massachusetts division of public charities websites. Governing documents are available via the office of the secretary of commonwealth of massachusetts.

Filing and Contact Details

Filer

Filer Name
Home for Aged People in Fall River
EIN
04-2104315
Phone
5086790144
Address
1168 HIGHLAND AVENUE, FALL RIVER, MA 02720

Signing Officer

Name
James H Kay
Title
Chairman
Phone
5086735893
Signed
2017-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James H Kay
Formed
1891
Legal Domicile
Ma
Voting Board Members
22
Independent Board Members
22
Employees
166
Volunteers
0

Preparer

Firm
Meyer Regan & Wilner Llp
Address
111 DURFEE STREET, FALL RIVER, MA 02720-2126
Preparer
James Bjorge
Phone
5086796451
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Due to financial considerations, the continuing care retirement community, bayview, was sold in november of 2016. The home will continue its operation of its nursing home known as adams house.

FORM 990, PART XI, LINE 9:

Net gains (losses) on beneficial interest in trust -171,579. Prior period error correction -52,644.

Financial Statement Notes

PART V, LINE 4:

The organization's endowment funds intended use is to provide the resources necessary to continue to care for residents who are no longer able to pay for those services.

PART X, LINE 2:

The home is exempt from federal income taxes under section 501(c) (3) of the internal revenue code, and as a corporation organized under chapter 180 of the massachusetts general laws, it is also exempt from massachusetts income taxes. The home is not a private foundation. Consequently, the accompanying financial statements do not reflect any provision for income taxes. In addition, the home believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Net loss on beneficial interest in trust -171,579.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Revenue from discontinued operations 1,129,300.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Expense from discontinued operations 1,370,564.

Schedule D, Part V, Line 1B, Column A

Begining in 2016, the organization is no longer reporting beneficial interest in perpetual trusts as endowment funds. Column a, line 1b reverses the balance of $4,277,266 as of 12/31/15.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm5BETTY CORNER
IRS990/Form990PartVIISectionAGrp/PersonNm6KAREN DREYER
IRS990/Form990PartVIISectionAGrp/PersonNm7ANN SNYDER
IRS990/Form990PartVIISectionAGrp/PersonNm8ALICE TURNER
IRS990/Form990PartVIISectionAGrp/PersonNm9CHARLENE DONDIS
IRS990/Form990PartVIISectionAGrp/PersonNm10SYLVIA TOMPKINS
IRS990/Form990PartVIISectionAGrp/PersonNm11MARLENE ROBINSON
IRS990/Form990PartVIISectionAGrp/PersonNm12SUMNER JAMES WARING III
IRS990/Form990PartVIISectionAGrp/PersonNm13MARILYN MARVEL
IRS990/Form990PartVIISectionAGrp/PersonNm14PETER BOGLE
IRS990/Form990PartVIISectionAGrp/PersonNm15MICHAEL BERUBE
IRS990/Form990PartVIISectionAGrp/PersonNm16COLIN ROBINSON
IRS990/Form990PartVIISectionAGrp/PersonNm17BETTY M WELCH
IRS990/Form990PartVIISectionAGrp/PersonNm18PETER BULLARD
IRS990/Form990PartVIISectionAGrp/PersonNm19JAMES H KAY
IRS990/Form990PartVIISectionAGrp/PersonNm20KIM PERRY
IRS990/Form990PartVIISectionAGrp/PersonNm21SUE MOE-RAPOSO
IRS990/Form990PartVIISectionAGrp/PersonNm22MICHAEL BALDASSARRE
IRS990/Form990PartVIISectionAGrp/PersonNm23KENNETH STRONG
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt18PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt20TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt21CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt22ADMINISTRATOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23EXECUTIVE DIRECTOR
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IRS990/MissionDesc0TO PROVIDE AND MAINTAIN A CONTINUOUS CARE RETIREMENT COMMUNITY WHICH SERVES THE RESIDENTIAL, SOCIAL AND HEALTH-CARE NEEDS OF ELDERS IN THE GREATER FALL RIVER, MASSACHUSETTS AREA. TO PROVIDE A CHARITABLE HOME FOR THE AGED PEOPLE IN FALL RIVER, MASSACHUSETTS
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IRS990/ProgramServiceRevenueGrp/Desc0RESIDENT SERVICES AH
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11129300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2489
IRS990/ProgSrvcAccomActy2Grp/Desc0OPERATION OF BAY VIEW NOT-FOR-PROFIT RETIREMENT COMMUNITY. AN INDEPENDENT LIVING FACILITY FOR RETIRED PEOPLE DEDICATED TO ADVANCING THE ADVANTAGES, BENEFITS AND PLEASURES OF LIFE DURING THE MATURE YEARS OF RESIDENTS - PROVIDED 10,866 DAYS OF SERVICE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01370564
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01129300
IRS990/ProgSrvcAccomActy3Grp/Desc0FREEMAN BORDEN TRANSITIONAL CARE UNIT AT ADAMS HOUSE - 19 BED MEDICARE CERTIFIED TRANSITIONAL CARE PROVIDES SHORT-TERM SUPPORT AND REHABILITATIVE CARE AFTER SURGERY OR ILLNESS. DURING THE CURRENT YEAR, 4,011 DAYS OF CARE WERE PROVIDED.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01333491
IRS990/ProhibitedTaxShelterTransInd00

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