Brighton Marine Inc
- Assets
- $56.9m
- Revenue
- $162.9m
- Investments
- $0.0
- Employees
- 28
- Location
- Brighton, MA
- Founding
- 04/1983
- Data as of
- 09/2023
- EIN
- 04-2742727
Organization Overview
Brighton Marine Inc is located in Brighton, MA. The organization was established in 1983. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Brighton Marine Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brighton Marine 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 09/2023, Brighton Marine Inc generated $162.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $161.2m during the year ending 09/2023. While expenses have increased by 1.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE QUALITY HEALTH CARE IS DELIVERED TO UNIFORMED SERVICE BENEFICIARIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIGHTON MARINE, INC. ENSURES THAT QUALIFYING MILITARY FAMILY MEMBERS AND RETIREES LIVING IN THE CATCHMENT AREA OF MASSACHUSETTS, RHODE ISLAND, NEW HAMPSHIRE, AND EASTERN CONNECTICUT RECEIVE QUALITY HEALTH CARE THROUGH THE U.S. FAMILY HEALTH PLAN (USFHP). IN ADDITION, THE ORGANIZATION MAINTAINS A SIX-BUILDING, 9-ACRE CAMPUS FOR COMMUNITY-BASED ORGANIZATIONS, SERVING VETERANS AND THEIR FAMILIES, AS WELL AS MEMBERS OF THE LOCAL COMMUNITY.
THE HOMELESS VETERANS EMPOWERMENT FUND ASSISTS HOUSING INSECURE VETERANS BY FUNDING EXPENSES ASSOCIATED WITH OBTAINING PERMANENT HOUSING IN THE GREATER BOSTON AREA. BRIGHTON MARINE, INC. WORKS IN PARTNERSHIP WITH THE BOSTON HOUSING AUTHORITY AND DEPARTMENT OF VETERANS AFFAIRS, TO FILL FUNDING GAPS ASSOCIATED WITH THE PLACEMENT OF HOMELESS VETERANS USING VETERANS AFFAIRS SUPPORTIVE HOUSING (VASH) CERTIFICATE SUBSIDIES.
VETERANS HOUSING AT BRIGHTON MARINE PROVIDES 25 PERMANENT HOUSING UNITS TO FORMERLY HOMELESS VETERANS. WORKING IN COLLABORATION WITH THE DEPARTMENT OF VETERANS AFFAIRS, THE BOSTON HOUSING AUTHORITY, AND COMMUNITY PARTNERS, BRIGHTON MARINE, INC. PROVIDES COORDINATED AND WRAPAROUND SUPPORTIVE SERVICES DESIGNED TO STABILIZE AT-RISK VETERANS AND IMPROVE THEIR QUALITY OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosye Cloud Chairperson | OfficerTrustee | 5 | $0 |
Robert C Ballard Treasurer | OfficerTrustee | 5 | $0 |
Dennis Magnasco Jr Secretary | OfficerTrustee | 1 | $0 |
Lyndsey Davis Stover Corporate Director | Trustee | 1 | $0 |
Jackie Garrick Corporate Director | Trustee | 1 | $0 |
Keisha Stephenson Taylor Corporate Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Contracting Specialists Inc Building Repair | 9/29/23 | $831,262 |
Unisource Management Corporation Janitorial Services | 9/29/23 | $281,199 |
Unisource Commerical Landscape Landscape Services | 9/29/23 | $271,889 |
Eversource Utilities | 9/29/23 | $201,597 |
Cafe Services Inc Food Services | 9/29/23 | $161,914 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $152,852,304 |
| All other contributions, gifts, grants, and similar amounts not included above | $87,135 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $152,939,439 |
| Total Program Service Revenue | $8,272,171 |
| Investment income | $580,201 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,086,588 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,881,618 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,583,441 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $361,142 |
| Payroll taxes | $127,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $477,393 |
| Fees for services: Accounting | $152,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $189,852 |
| Fees for services: Other | $507,283 |
| Advertising and promotion | $128,687 |
| Office expenses | $294,054 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,619,752 |
| Travel | $0 |
| 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 | $989,233 |
| Insurance | $298,056 |
| All other expenses | $112,768 |
| Total functional expenses | $161,232,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $215 |
| Savings and temporary cash investments | $1,847,837 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $239,547 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $250,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,306,186 |
| Net Land, buildings, and equipment | $19,041,062 |
| Investments—publicly traded securities | $34,200,590 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $56,885,437 |
| Accounts payable and accrued expenses | $912,176 |
| Grants payable | $0 |
| Deferred revenue | $2,261,778 |
| 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 | $4,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,525 |
| Total liabilities | $7,677,479 |
| Net assets without donor restrictions | $48,877,294 |
| Net assets with donor restrictions | $330,664 |
| 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 | $56,885,437 |