Boston Home Inc
- Assets
- $75.2m
- Revenue
- $20.0m
- Investments
- $42.4m
- Employees
- 270
- Location
- Boston, MA
- Founding
- 02/1937
- Data as of
- 12/2023
- EIN
- 04-2103905
Organization Overview
Boston Home Inc is located in Boston, MA. The organization was established in 1937. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Boston Home Inc employed 270 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Home 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 12/2023, Boston Home Inc generated $20.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $19.8m during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE LIVES OF ADULTS WITH ADVANCED MULTIPLE SCLEROSIS AND OTHER NEUROLOGICAL DISORDERS.
Describe the Organization's Program Activity:
FOUNDED IN 1881, THE BOSTON HOME IS A NOT-FOR-PROFIT, SPECIALIZED RESIDENCE AND CENTER FOR CARE FOR ADULTS WITH ADVANCED PROGRESSIVE NEUROLOGICAL DISEASES INCLUDING MULTIPLE SCLEROSIS. WE HAVE BEEN DESIGNATED A "CENTER FOR EXCELLENCE IN LONG TERM CARE" BY THE NATIONAL MULTIPLE SCLEROSIS SOCIETY AND ARE THE ONLY FACILITY OF OUR KIND IN NEW ENGLAND AND ONE OF ONLY A FEW IN THE UNITED STATES. THE BOSTON HOME INSTITUTE ADVANCES STANDARDS FOR CARE THROUGH RESEARCH, EDUCATION AND ADVOCACY.THE BOSTON HOME'S OUTPATIENT WHEELCHAIR SEATING CLINIC BRINGS TOGETHER PHYSICAL THERAPISTS, VENDORS AND ADAPTIVE TECHNOLOGY SPECIALISTS WHO WORK WITH COMPLEX REHABILITATION CLIENTS TO PRESCRIBE, ORDER AND CUSTOMIZE WHEELCHAIRS. B.FIT!, OUR SOCIAL DAY PROGRAM, PROVIDES PARTICIPANTS WITH A SAFE AND SOCIALLY ENRICHING ENVIRONMENT WHERE THEY HELP SHAPE A SCHEDULE OF ACTIVITIES DESIGNED TO ACHIEVE AND MAINTAIN MAXIMUM LEVELS OF PERSONAL INDEPENDENCE. THE BOSTON HOME'S WHEELCHAIR ENHANCEMENT CENTER (WEC) PROVIDES THE GREATER BOSTON DISABLED COMMUNITY WITH A RESOURCE FOR CUSTOMIZED WHEELCHAIR SOLUTIONS, EMERGENCY WHEELCHAIR REPAIRS AND SERVICE REFERRALS FOR THE MYRIAD OF MOBILITY EQUIPMENT AND TECHNOLOGICAL ADAPTATIONS NOW BEING USED. THE NATIONAL MAGAZINE PUBLISHER MCKNIGHT'S LONG-TERM CARE NEWS & ASSISTED LIVING AWARDED THE BOSTON HOME ITS GOLD AWARD IN THE INNOVATOR OF THE YEAR CATEGORY IN THE MCKNIGHT'S TECHNOLOGY AWARDS CONNECT OUR WORLD FOR ITS WHEELCHAIR ENHANCEMENT CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randolph G Hawthorne Chair | OfficerTrustee | 5 | $0 |
Virginia Soybel Vice Chair | OfficerTrustee | 5 | $0 |
Virginia Mirisola Treasurer | OfficerTrustee | 5 | $0 |
Carrie Stewart Hanover-Martin Clerk | OfficerTrustee | 5 | $0 |
Kristen Cassetta Trustee | Trustee | 5 | $0 |
Elizabeth Colburn-Moraites Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $254,673 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,018,955 |
| Noncash contributions included in lines 1a–1f | $18,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,273,628 |
| Total Program Service Revenue | $15,611,078 |
| Investment income | $577,721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,537,346 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,032,449 |
| 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. | $747,632 |
| Compensation of current officers, directors, key employees. | $735,222 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,570,030 |
| Pension plan accruals and contributions | $213,524 |
| Other employee benefits | $1,098,188 |
| Payroll taxes | $896,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,510 |
| Fees for services: Accounting | $108,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $165,241 |
| Fees for services: Other | $819,647 |
| Advertising and promotion | $72,778 |
| Office expenses | $77,386 |
| Information technology | $257,397 |
| Royalties | $0 |
| Occupancy | $591,561 |
| Travel | $4,076 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $454,465 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,003,670 |
| Insurance | $143,597 |
| All other expenses | $33,124 |
| Total functional expenses | $19,793,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,809 |
| Savings and temporary cash investments | $2,597,796 |
| Pledges and grants receivable | $269,792 |
| Accounts receivable, net | $1,346,314 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,217,797 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $377,429 |
| Net Land, buildings, and equipment | $9,790,480 |
| Investments—publicly traded securities | $14,038,494 |
| Investments—other securities | $42,421,720 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,042,847 |
| Total assets | $75,220,478 |
| Accounts payable and accrued expenses | $1,840,344 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $73,186 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,162,309 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,075,839 |
| Net assets without donor restrictions | $64,148,814 |
| Net assets with donor restrictions | $1,995,825 |
| 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 | $75,220,478 |