Hrca Housing For Elderly Inc
- Assets
- $19.0m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 48
- Location
- Boston, MA
- Founding
- 12/1974
- Data as of
- 09/2023
- EIN
- 04-2543731
Organization Overview
Hrca Housing For Elderly Inc, operating under the name Jack Satter House, is located in Boston, MA. The organization was established in 1974. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Jack Satter House employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jack Satter House 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 09/2023, Jack Satter House generated $8.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $8.6m during the year ending 09/2023. While expenses have increased by 5.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AFFORDABLE, SUPPORTIVE RESIDENTIAL HOUSING OR LOW-INCOME SENIORS IN AN ATMOSPHERE THAT SUPPORTS INDIVIDUALITY AND RESPECT, FOSTERS ACTIVE AND ENERGETIC LIFESTYLES, ENCOURAGES INDEPENDENCE AND SELF-FULFILLMENT, AND VALUES VOLUNTEERISM AND PARTICIPATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HRCA HOUSING FOR ELDERLY, INC. (DBA JACK SATTER HOUSE) IN REVERE COMBINES INDEPENDENT, NONDENOMINATIONAL APARTMENT LIVING WITH ONSITE SERVICES THAT PROMOTE AN ACTIVE, HEALTHY LIFE. THE COMMUNITY IS DESIGNED TO GIVE SENIOR RESIDENTS MULTIPLE OPPORTUNITIES TO ENGAGE WITH EACH OTHER, SUPPORT EACH OTHER, AND WORK TOGETHER FOR THE GOOD OF THE COMMUNITY. THE COMMUNITY IS LOCATED DIRECTLY ACROSS THE BOULEVARD FROM REVERE BEACH, ALLOWING FOR PANORAMIC ATLANTIC OCEAN VIEWS FROM ALMOST EVERY APARTMENT. IT IS CONVENIENT TO BOSTON'S CULTURE, SHOPPING, AND PUBLIC TRANSPORTATION AS WELL AS THE SCENIC NORTH SHORE. AS A HEBREW SENIORLIFE COMMUNITY, RESIDENTS HAVE ACCESS TO A FULL SPECTRUM OF SUPPORT AND SERVICES THAT ENSURE CONTINUITY OF HEALTH CARE, ENCOURAGE A HEALTHY, INDEPENDENT LIFESTYLE AND EMPHASIZE PHYSICAL AND EMOTIONAL WELLNESS. OUR COMMUNITY AT A GLANCE: - LOCATED ALONG REVERE BEACH, WITH ATLANTIC OCEAN VIEWS - 266 APARTMENTS, INCLUDING 47 EFFICIENCIES, 202 ONEBEDROOM UNITS AND 17 TWO BEDROOM UNITS - OPEN TO ALL QUALIFIED ELIGIBLE PERSONS AGED 62 OR OLDER REGARDLESS OF RACE, COLOR, RELIGION, SEXUAL ORIENTATION OR GENDER IDENTITY, NATIONAL ORIGIN, DISABILITY AND FAMILIAL STATUS - STATE OF THE ART FITNESS CENTER WITH REGULARLY SCHEDULED WELLNESS PROGRAMS, -COMPUTER LEARNING PROGRAMS, AND - WEEKNIGHT MEAL PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary & Chief Fin. Officer | OfficerTrustee | 1 | $0 |
Name Not Listed President And CEO (end 07/2023) | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 0.1 | $0 |
Name Not Listed Board Chair | OfficerTrustee | 0.1 | $0 |
Name Not Listed President And CEO (start 07/2023) | OfficerTrustee | 1 | $0 |
Name Not Listed Executive Director-Jack Satter | Officer | 50 | $179,226 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carr Enterprises Ltd Gen. Bldg. Imprvmnt. | 9/29/21 | $226,492 |
American Quality Property Service Landscaping | 9/29/21 | $227,181 |
Chelsea Floor Covering Floor Replacement | 9/29/21 | $108,742 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,130 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,130 |
| Total Program Service Revenue | $8,751,093 |
| Investment income | $24,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,045 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,863,097 |
| 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. | $179,226 |
| Compensation of current officers, directors, key employees. | $17,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,708,580 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $263,125 |
| Payroll taxes | $140,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,263 |
| Fees for services: Accounting | $19,234 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,375 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $51,635 |
| Information technology | $41,678 |
| Royalties | $0 |
| Occupancy | $1,609,274 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,426,125 |
| Payments to affiliates | $382,911 |
| Depreciation, depletion, and amortization | $1,804,632 |
| Insurance | $356,838 |
| All other expenses | $68,169 |
| Total functional expenses | $8,638,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,186,255 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $70,805 |
| Accounts receivable, net | $38,861 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $39,443 |
| Prepaid expenses and deferred charges | $164,583 |
| Net Land, buildings, and equipment | $11,786,205 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,500 |
| Other assets | $3,710,570 |
| Total assets | $19,002,222 |
| Accounts payable and accrued expenses | $812,722 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $141,163 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $53,352,573 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,645 |
| Total liabilities | $54,356,103 |
| Net assets without donor restrictions | -$35,576,726 |
| Net assets with donor restrictions | $222,845 |
| 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 | $19,002,222 |