Vinfen Corporation
- Assets
- $146.2m
- Revenue
- $204.6m
- Investments
- $0.0
- Employees
- 3,173
- Location
- Cambridge, MA
- Founding
- 04/1978
- Data as of
- 06/2022
- EIN
- 04-2632219
Organization Overview
Vinfen Corporation is located in Cambridge, MA. The organization was established in 1978. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2022, Vinfen Corporation employed 3,173 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vinfen Corporation 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 06/2022, Vinfen Corporation generated $204.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $199.8m during the year ending 06/2022. While expenses have increased by 6.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
VINFEN CORPORATION ("VINFEN") TRANSFORMS LIVES BY BUILDING THE CAPACITY OF INDIVIDUALS, FAMILIES, ORGANIZATIONS AND PROVIDING COMMUNITIES TO LEARN, THRIVE, AND ACHIEVE THEIR GOALS. OUR SERVICES PROMOTE THE RECOVERY, RESILIENCY, HABILITATION AND SELF-DETERMINATION OF THE PEOPLE WE SERVE. AS A HUMAN SERVICE LEADER, WE STRIVE TO BE THE PROVIDER, EMPLOYER, AND PARTNER OF CHOICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PSYCHIATRIC REHABILITATION DIVISION PROVIDES SERVICES FOR PEOPLE WITH SERIOUS AND PERSISTENT PSYCHIATRIC DISABILITIES, SUBSTANCE ABUSE, ADDICTION AND/OR HIV/AIDS INCLUDING ASSERTIVE COMMUNITY TREATMENT, EMPLOYMENT SERVICES, RESIDENTIAL SUPPORTS, CLUBHOUSE DAY SERVICES AND HOMELESS OUTREACH SERVICES.
DEVELOPMENTAL DISABILITY SERVICES DELIVER AN ARRAY OF SERVICES FOR PERSONS WITH DISABILITIES THROUGH OPERATION OF GROUP HOMES, SUPPORTED HOUSING, OUTREACH, WORK SKILLS AND EMPLOYMENT TRAINING.
THE INNOVATION TEAM PROVIDES A VARIETY OF INNOVATIVE SERVICE DELIVERY MODELS TO CLIENTS WHO RECEIVE VINFEN SERVICES. THESE INITIATIVES INCLUDE HEALTH OUTCOMES RESEARCH STUDIES CONDUCTED IN COLLABORATION WITH DARTMOUTH'S GEISEL SCHOOL OF MEDICINE AND MASSACHUSETTS GENERAL HOSPITAL; HEALTH INTEGRATION GRANTS FUNDED BY THE CENTERS FOR MEDICAID AND MEDICARE INNOVATION (CMMI) AND THE BLUE CROSS BLUE SHIELD FOUNDATION OF MASSCHUSETTS; AND IMPLEMENTATION OF THE MEDICAID ONE CARE INITIATIVE IN PARTNERSHIP WITH COMMONWEALTH CARE ALLIANCE. AN ADDITIONAL FOCUS OF THE INNOVATION TEAM IS THE EXPANSION AND INTEGRATION OF TECHNOLOGY INTO THE DELIVERY OF INTEGRATED HEALTH SERVICES FOR INDIVIDUALS WITH PSYCHIATRIC CONDITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce L Bird Director, President & CEO | OfficerTrustee | 31 | $368,518 |
Giuseppe Raviola Director | Trustee | 0.8 | $0 |
Padmaja Raman Director (from 11/18/21) | Trustee | 0.8 | $0 |
Dr Henry S White Director | Trustee | 0.8 | $0 |
Paul Zintl Director | Trustee | 1 | $0 |
C Allen Ashley Director, Clerk | OfficerTrustee | 1.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Commonwealth Solutions Llc Direct Care Staffing | 6/29/22 | $2,447,932 |
Maxim Staffing Solutions Direct Care Staffing | 6/29/22 | $1,659,347 |
Swift Staffing Agency Direct Care Staffing | 6/29/22 | $1,580,950 |
Hearth Inc Program Subcontractor | 6/29/22 | $677,959 |
All Staff Llc Direct Care Staffing | 6/29/22 | $644,306 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,460 |
| Related organizations | $0 |
| Government grants | $1,420,787 |
| All other contributions, gifts, grants, and similar amounts not included above | $552,464 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,004,711 |
| Total Program Service Revenue | $200,136,592 |
| Investment income | $96,906 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $64 |
| 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 | $204,579,844 |
| 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. | $1,657,101 |
| Compensation of current officers, directors, key employees. | $1,657,101 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $120,815,838 |
| Pension plan accruals and contributions | $1,315,212 |
| Other employee benefits | $13,723,120 |
| Payroll taxes | $9,283,367 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $196,663 |
| Fees for services: Accounting | $125,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,394,518 |
| Advertising and promotion | $0 |
| Office expenses | $4,049,732 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,887,690 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,192,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,812,270 |
| Insurance | $2,121,335 |
| All other expenses | $1,892,234 |
| Total functional expenses | $199,760,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,073,942 |
| Savings and temporary cash investments | $19,295,832 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,490,735 |
| 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 | $1,881,657 |
| Net Land, buildings, and equipment | $63,333,257 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,165,912 |
| Total assets | $146,241,335 |
| Accounts payable and accrued expenses | $23,262,173 |
| Grants payable | $0 |
| Deferred revenue | $3,024,846 |
| Tax-exempt bond liabilities | $44,755,169 |
| Escrow or custodial account liability | $3,610,966 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,883,173 |
| Total liabilities | $82,536,327 |
| Net assets without donor restrictions | $61,847,937 |
| Net assets with donor restrictions | $1,857,071 |
| 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 | $146,241,335 |