The Scandinavian Charitable Society Of Greater Boston Inc
- Assets
- $7.7m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 39
- Location
- W Newton, MA
- Founding
- 01/1939
- Data as of
- 12/2021
- EIN
- 04-2105955
Organization Overview
The Scandinavian Charitable Society Of Greater Boston Inc is located in W Newton, MA. The organization was established in 1939. 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 12/2021, Scandinavian Charitable Society Of Greater Boston Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scandinavian Charitable Society Of Greater Boston 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 12/2021, Scandinavian Charitable Society Of Greater Boston Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 2.9% per year over the past 7 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
THE SCANDINAVIAN CHARITABLE SOCIETY OF GREATER BOSTON IS COMMITTED TO PROVIDING AFFORDABLE HOUSING AND ASSISTANCE TO ELDERS AND TO SUPPORT CULTURAL ENRICHMENT AND COMMUNITY CONNECTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCANDINAVIAN LIVING CENTER- DURING THE YEAR THE ORGANIZATION HAD 32 ELDERLY RESIDENTS, WHICH CONSISTED OF 7 MALES AND 25 FEMALES WITH AN AVERAGE AGE OF 84.5. OF THE 32 RESIDENTS, 10 WERE VERY LOW INCOME, 9 WERE LOW INCOME, 6 MODERATE INCOME AND 7 WERE AT MARKET RATE INCOME LEVELS BASED ON HUD.
THE SCANDINAVIAN CHARITABLE SOCIETY BELIEVES THAT THE LIVING CENTER AND THE CULTURAL CENTER COMPLEMENT EACH OTHER THROUGH MUTUALLY SUPPORTIVE ACTIVITIES WHILE SHARING SPACE. THE SOCIETY, THROUGH THE CULTURAL CENTER, IS COMMITTED TO POSITIONING ITSELF AS THE PREMIERE HUB FOR NORDIC CULTURAL ACTIVITIES IN NEW ENGLAND BY SHARING IMPORTANT ELEMENTS OF SCANDINAVIAN CULTURE WITH THE WIDER COMMUNITY.THE SECOND GOAL OF THE SCANDINAVIAN CULTURAL CENTER IS TO BE A LOCATION FOR AND SOURCE OF ENRICHING AND THOUGHT-PROVOKING EVENTS FOR RESIDENTS OF NEWTON AND GREATER BOSTON. THESE GOALS ARE ACHIEVED THROUGH COLLABORATIONS WITH OTHER ORGANIZATIONS, AND THROUGH THE CULTURAL CENTER'S OWN PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Carella Executive Director | Officer | 45 | $126,746 |
Peter Vatne Past Pres.(acting Rec Sec Since Dec '21) | OfficerTrustee | 0.5 | $0 |
Luana Josvold Recording Secretary (until Dec '21) | OfficerTrustee | 0.5 | $0 |
Victoria Danberg Asst Treasurer | OfficerTrustee | 0.5 | $0 |
Christine Peterson Vice President | OfficerTrustee | 0.5 | $0 |
Anne-Reet Annuziata President | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glendale Senior Dining Food Service | 12/30/21 | $606,867 |
4m Building Solutions Inc Housekeeping & Maintenance | 12/30/21 | $222,965 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $415,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $615,681 |
| Total Program Service Revenue | $2,595,016 |
| Investment income | $32,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,021 |
| Net Gain/Loss on Asset Sales | $59,642 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,317,041 |
| 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. | $176,920 |
| Compensation of current officers, directors, key employees. | $97,307 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $893,237 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $99,322 |
| Payroll taxes | $88,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,863 |
| Fees for services: Accounting | $55,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,557 |
| Fees for services: Other | $18,992 |
| Advertising and promotion | $78,015 |
| Office expenses | $76,188 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $359,742 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,484 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $321,168 |
| Insurance | $89,418 |
| All other expenses | $32,185 |
| Total functional expenses | $3,263,416 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,477 |
| Savings and temporary cash investments | $883,303 |
| Pledges and grants receivable | $214,011 |
| Accounts receivable, net | $590 |
| 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 | $11,058 |
| Net Land, buildings, and equipment | $4,461,783 |
| Investments—publicly traded securities | $2,023,156 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,653,378 |
| Accounts payable and accrued expenses | $336,338 |
| Grants payable | $0 |
| Deferred revenue | $7,595 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,462,975 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $169,041 |
| Total liabilities | $1,975,949 |
| Net assets without donor restrictions | $4,791,430 |
| Net assets with donor restrictions | $885,999 |
| 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 | $7,653,378 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Scandinavian Charitable Society Of Greater Boston Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $100 |
Endowment Analysis
| Beg. Balance | $436,667 |
| Earnings | $56,106 |
| Net Contributions | $1,445 |
| Ending Balance | $494,218 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Horizons Inc Farmington, CT | $23,361,586 | $23,057,821 |
Tockwotton Home East Providence, RI | $58,805,077 | $16,474,278 |
Loomis Housing Corporation South Hadley, MA | $99,172,957 | $19,770,909 |
Ideal Senior Living Center Inc Endicott, NY | $4,125,598 | $9,831,124 |
Birch Hill Terrace Manchester, NH | $49,349,537 | $13,228,793 |
Umh Ny Corp Binghamton, NY | $26,934,829 | $15,740,065 |
Dominican Village Inc Amityville, NY | $22,734,655 | $14,615,410 |
Berkshire Retirement Community Inc Pittsfield, MA | $61,644,356 | $15,914,894 |
Ascentria Care Alliance Inc Brighton, MA | $25,108,514 | $14,345,102 |
United Helpers Canton Nursing Home Canton, NY | $22,283,409 | $12,202,470 |
Elizabeth Seton Residence Inc Wellesley Hills, MA | $5,370,096 | $14,190,879 |
Pomperaug Woods Inc Southbury, CT | $21,221,148 | $10,901,688 |