Vna Care Network Inc
- Assets
- $48.8m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 11
- Location
- Worcester, MA
- Founding
- 08/1997
- Data as of
- 12/2023
- EIN
- 04-2794849
Organization Overview
Vna Care Network Inc is located in Worcester, MA. The organization was established in 1997. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Vna Care Network Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vna Care Network 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 12/2023, Vna Care Network Inc generated $9.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $9.8m during the year ending 12/2023. 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
VNA CARE NETWORK FOUNDATION INC. PRIMARY EXEMPT PURPOSE IS TO RAISE AND INVEST FUNDS FOR THE BENEFIT OF ITS AFFILIATES TO FURTHER THEIR CHARITABLE ACTIVITIES OF HOME HEALTH CARE SERVICES AS WELL AS TO PROVIDE OPERATING FACILITIES AND MANAGEMENT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VNA CARE NETWORK FOUNDATION INC. PRIMARY EXEMPT PURPOSE IS TO RAISE AND INVEST FUNDS FOR THE BENEFIT OF ITS AFFILIATES TO FURTHER THEIR CHARITABLE ACTIVITIES OF HOME HEALTH CARE SERVICES AS WELL AS TO PROVIDE OPERATING FACILITIES AND MANAGEMENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Rose President/chief Executive Officer | OfficerTrustee | 35 | $409,981 |
Stephen Gut Treasurer/chief Financial Officer | OfficerTrustee | 35 | $270,001 |
Rita S Advani Chair | OfficerTrustee | 0.5 | $0 |
Renee L Harper First Vice Chair | OfficerTrustee | 0.5 | $0 |
Katharine Bolland Eshghi Clerk | OfficerTrustee | 0.5 | $0 |
James Cosgrove Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Atrius Health Inc Management Services | 12/30/19 | $785,802 |
Marsh & Mclennan Agency Llc Legal Consulting | 12/30/19 | $115,916 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $430,735 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,073,416 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,504,151 |
| Total Program Service Revenue | $4,750,824 |
| Investment income | $488,435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,891,025 |
| Net Gain/Loss on Asset Sales | $198,035 |
| Net Income from Fundraising Events | -$54,679 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,777,791 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,814,057 |
| 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. | $1,419,522 |
| Compensation of current officers, directors, key employees. | $213,631 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,220,468 |
| Pension plan accruals and contributions | $8,377 |
| Other employee benefits | $746,163 |
| Payroll taxes | $143,040 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,980 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $97,317 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $844,115 |
| Information technology | $9,757 |
| Royalties | $0 |
| Occupancy | $2,520,410 |
| Travel | $17,198 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $346,090 |
| Payments to affiliates | $266,851 |
| Depreciation, depletion, and amortization | $370,610 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,825,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,102 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,686 |
| 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 | $152,213 |
| Net Land, buildings, and equipment | $1,777,542 |
| Investments—publicly traded securities | $13,248,117 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,931,032 |
| Other assets | $26,430,264 |
| Total assets | $48,797,956 |
| Accounts payable and accrued expenses | $427,749 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,626,611 |
| Total liabilities | $10,554,360 |
| Net assets without donor restrictions | $31,813,336 |
| Net assets with donor restrictions | $6,430,260 |
| 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 | $48,797,956 |
Grants Awarded
Over the last fiscal year, Vna Care Network Inc has awarded $1,814,057 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VNA CARE HOSPICE INC PURPOSE: GENERAL SUPPORT | $833,483 |
VNA CARE NETWORK INC PURPOSE: GENERAL SUPPORT | $584,155 |
VNA OF BOSTON INC PURPOSE: GENERAL SUPPORT | $396,419 |