Mystic Valley Elder Services Inc
- Assets
- $29.9m
- Revenue
- $79.7m
- Investments
- $6.1m
- Employees
- 377
- Location
- Malden, MA
- Founding
- 03/1977
- Data as of
- 06/2021
- EIN
- 04-2562646
Organization Overview
Mystic Valley Elder Services Inc is located in Malden, MA. The organization was established in 1977. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. As of 06/2021, Mystic Valley Elder Services Inc employed 377 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mystic Valley Elder Services 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 06/2021, Mystic Valley Elder Services Inc generated $79.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $78.3m during the year ending 06/2021. While expenses have increased by 5.5% 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
THE ORGANIZATION WAS ESTABLISHED TO ASSIST ELIGIBLE OLDER RESIDENTS AND ADULTS LIVING WITH DISABILITIES WITH A RANGE OF SERVICES THAT WILL ENHANCE THEIR QUALITY OF LIFE AND ALLOW THEM TO LIVE WITH DIGNITY AND RESPECT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY CHOICES IS A MEDICAID FUNDED PROGRAM DESIGNED TO PROVIDE HOME CARE SUPPORT FOR ELDERS WHO ARE ELIGIBLE FOR MASS HEALTH COVERAGE AND AT RISK OF PLACEMENT IN A LONG-TERM FACILITY. THE PROGRAM PROVIDED SERVICES TO 7,902 PUBLICLY SPONSORED CLIENTS IN FY2021.
STATE FUNDED HOME CARE PROVIDES COMMUNITY-BASED SERVICES TO LOW INCOME, FRAIL ELDERS THROUGH THIRD-PARTY CONTRACTS, INCLUDING CASE MANAGEMENT. THE PROGRAM PROVIDED HOME CARE AND CASE MANAGEMENT SERVICES TO 33,280 PUBLICLY SPONSORED CLIENTS IN FY2021.
THE ENHANCED COMMUNITY OPTIONS PROGRAM PROVIDES CASE MANAGEMENT AND COMMUNITY-BASED SERVICES TO ELDERS FINANCIALLY ELIGIBLE FOR HOME CARE, FINANCIALLY INELIGIBLE FOR MEDICAID, AND IN IMMEDIATE RISK OF NURSING HOME PLACEMENT. THE PROGRAM PROVIDED SERVICES TO 8,169 PUBLICLY SPONSORED CLIENTS IN FY2021.
OTHER PROGRAMS PROVIDE CLINICAL ASSESSMENT OF ELDERS, SUPPORTIVE SENIOR HOUSING, MONEY MANAGEMENT, GERIATRIC MENTAL HEALTH SERVICES, HEALTH INSURANCE INFORMATION, MEALS AND NUTRITION SERVICES, CAREGIVER SUPPORT, VETERANS SERVICES, ELDER TRANSPORTATION, AND LONG TERM CARE OPTIONS COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel J O'leary CEO | Officer | 35 | $285,001 |
Joanne Solazzo Client Svcs | Officer | 35 | $177,691 |
Sean Hubacz Director Of | Officer | 35 | $165,023 |
Brian Mcdonald Protective S | 35 | $124,039 | |
Alex Jurkevich It Manager | 35 | $111,986 | |
Melissa Milione Senior Manag | 35 | $105,918 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Connected Home Care Llc Homemaking/pc | 6/29/21 | $3,578,052 |
Global Healthcare Homemaking/pc | 6/29/21 | $1,550,443 |
Greater Boston Patient Care Llc Homemaking/pc | 6/29/21 | $537,204 |
The Scrubbing Board Laundry | 6/29/21 | $523,769 |
Combined Properties Rent | 6/29/21 | $905,423 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,382,362 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,660,371 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $79,042,733 |
| Total Program Service Revenue | $519,220 |
| Investment income | $56,986 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,691,071 |
| 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. | $666,995 |
| Compensation of current officers, directors, key employees. | $462,674 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,854,291 |
| Pension plan accruals and contributions | $414,733 |
| Other employee benefits | $1,863,696 |
| Payroll taxes | $1,196,027 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,748 |
| Fees for services: Accounting | $29,088 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,869 |
| Advertising and promotion | $0 |
| Office expenses | $128,288 |
| Information technology | $162,615 |
| Royalties | $0 |
| Occupancy | $1,035,638 |
| Travel | $162,568 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $344,436 |
| Insurance | $58,239 |
| All other expenses | $215,659 |
| Total functional expenses | $78,294,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,436,981 |
| Savings and temporary cash investments | $1,182,946 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,141,990 |
| 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 | $80,698 |
| Net Land, buildings, and equipment | $890,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,140,380 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,502 |
| Total assets | $29,895,171 |
| Accounts payable and accrued expenses | $13,652,082 |
| Grants payable | $0 |
| Deferred revenue | $269,691 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $2,750,000 |
| Other liabilities | $0 |
| Total liabilities | $16,671,773 |
| Net assets without donor restrictions | $12,937,584 |
| Net assets with donor restrictions | $285,814 |
| 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 | $29,895,171 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mystic Valley Elder Services Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Charles F Bacon Trust Uw 1-20707-02 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $10,000 |
Melrose Cooperative Bank Foundation Melrose, MA PURPOSE: MONEY MANAGEMENTPROGRAM | $5,000 |
Endowment Analysis
| Beg. Balance | $3,855,454 |
| Earnings | $85,500 |
| Admin Expense | $23,546 |
| Net Contributions | $1,728,664 |
| Other Expense | $260,000 |
| Ending Balance | $5,386,072 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Agespan Inc Lawrence, MA | $46,498,915 | $107,934,032 |
Element Care Inc Lynn, MA | $83,865,974 | $102,077,849 |
Mystic Valley Elder Services Inc Malden, MA | $29,895,171 | $79,691,071 |
Central Boston Elder Services Inc Boston, MA | $36,084,793 | $71,391,953 |
Springwell Inc Waltham, MA | $26,869,035 | $61,604,301 |
Jewish Association For Services For The Aged New York, NY | $34,581,080 | $57,474,811 |
Southwest Boston Senior Services Inc Jamaica Plain, MA | $18,738,837 | $50,976,438 |
Boston Senior Home Care Inc Boston, MA | $18,709,649 | $46,611,722 |
Riseboro Community Partnership Inc Brooklyn, NY | $38,504,143 | $46,795,171 |
Elder Services Of Cape Cod And The Islands Inc South Dennis, MA | $14,977,853 | $43,360,495 |
Serenity Care Inc Andover, MA | $11,753,267 | $39,517,689 |
Foundation For The Elderly Inwood, NY | $9,324,447 | $36,299,710 |