Volunteers Of America Inc
- Assets
- $29.2m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 82
- Location
- Concord, MA
- Founding
- 05/1965
- Data as of
- 06/2024
- EIN
- 04-3456705
Organization Overview
Volunteers Of America Inc is located in Concord, MA. The organization was established in 1965. According to its NTEE Classification (P26) the organization is classified as: Volunteers of America, under the broad grouping of Human Services and related organizations. As of 06/2024, Volunteers Of America Inc employed 82 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Volunteers Of America 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 06/2024, Volunteers Of America Inc generated $10.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $10.0m during the year ending 06/2024. While expenses have increased by 5.6% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE ASSISTED LIVING FACILITIES FOR QUALIFIED ELDERLY INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED LIVING FACILITIES FOR THE ELDERLY SERVING, AMONG OTHERS, PERSONS OF LOW AND MODERATE INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Gagnon President/ce | OfficerTrustee | 5 | $0 |
Gayle H Lacroix Asst Treas | OfficerTrustee | 5 | $0 |
Natasha Heimrath Executive Di | Officer | 40 | $196,480 |
Maynard Forbes Board Member | Trustee | 2 | $0 |
Eric Segal Treasurer | OfficerTrustee | 2 | $0 |
Anne Umphrey Clerk | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Senior Living Residenices Llc Mgmt/ Payroll | 6/29/24 | $1,359,166 |
Southcoast Improvement Company Construction | 6/29/24 | $310,968 |
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 | $485,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $485,625 |
| Total Program Service Revenue | $9,440,814 |
| Investment income | $65,911 |
| 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 | $9,992,350 |
| 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 | $3,120,997 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $275,298 |
| Payroll taxes | $389,932 |
| Fees for services: Management | $572,713 |
| Fees for services: Legal | $9,865 |
| Fees for services: Accounting | $25,214 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,918 |
| Advertising and promotion | $145,660 |
| Office expenses | $49,156 |
| Information technology | $63,480 |
| Royalties | $0 |
| Occupancy | $818,803 |
| Travel | $17,438 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,115 |
| Interest | $1,090,264 |
| Payments to affiliates | $879,661 |
| Depreciation, depletion, and amortization | $1,823,245 |
| Insurance | $154,337 |
| All other expenses | $0 |
| Total functional expenses | $9,996,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $924,243 |
| Savings and temporary cash investments | $1,221,157 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,378 |
| 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 | $263,392 |
| Net Land, buildings, and equipment | $26,782,882 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,214,052 |
| Accounts payable and accrued expenses | $338,243 |
| Grants payable | $0 |
| Deferred revenue | $820,354 |
| Tax-exempt bond liabilities | $28,665,225 |
| 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 | $1,834,320 |
| Other liabilities | $0 |
| Total liabilities | $31,658,142 |
| Net assets without donor restrictions | -$2,444,090 |
| Net assets with donor restrictions | $0 |
| 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 | $29,214,052 |