South Cove Nursing Facilities Foundation Inc
- Assets
- $18.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Quincy, MA
- Founding
- 02/1977
- Data as of
- 12/2021
- EIN
- 04-6406242
Organization Overview
South Cove Nursing Facilities Foundation Inc is located in Quincy, MA. The organization was established in 1977. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Cove Nursing Facilities Foundation 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 12/2021, South Cove Nursing Facilities Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.0% each year . All expenses for the organization totaled $109.7k during the year ending 12/2021. While expenses have increased by 13.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND SUPPORT PROGRAMS FOR THE ASIAN ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT SERVICES - THE PRIMARY ACTIVITY OF THE CORPORATION IS TO RAISE FUNDS AND SUPPORT THE FUNCTION OF AND CARRY OUT THE PURPOSES OF SOUTH COVE MANOR NURSING AND REHABILITATION CENTER, INC..
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hemmie Chang Clerk | OfficerTrustee | 1 | $0 |
Cindy Law Treasurer | OfficerTrustee | 1 | $0 |
Jason Qu Chairman Of The Board | OfficerTrustee | 1 | $0 |
May Chin Vice President | OfficerTrustee | 1 | $0 |
William Graves President & CEO | Officer | 1 | $0 |
Scott Hanson Director Of Finance | Officer | 1 | $0 |
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 | $230,986 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,986 |
| Total Program Service Revenue | $0 |
| Investment income | $249,427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,006,888 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,487,301 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,240 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,300 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,958 |
| Information technology | $1,308 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $1,037 |
| Total functional expenses | $109,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $389,952 |
| Savings and temporary cash investments | $380,537 |
| Pledges and grants receivable | $10,500 |
| Accounts receivable, net | $61,525 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,880,467 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,545,158 |
| Total assets | $18,268,139 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $18,194,842 |
| Net assets with donor restrictions | $73,297 |
| 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 | $18,268,139 |
Endowment Analysis
| Beg. Balance | $126,625 |
| Earnings | $7,190 |
| Other Expense | $60,518 |
| Ending Balance | $73,297 |
Peer Organizations
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|---|---|---|
Jewish Home Lifecare Manhattan New York, NY | $92,070,146 | $86,814,145 |
The Rosalind And Joseph Gurwin Jewish Geriatric Center Of Long Is Commack, NY | $54,775,668 | $80,755,778 |
The Schulman And Schachne Institute For Nursing And Rehabilitation Inc Brooklyn, NY | $15,175,367 | $62,719,757 |
Menorah Home & Hospital For The Aged & Infirm Brooklyn, NY | $95,922,650 | $81,993,639 |
Loretto Health And Rehabilitation Center Syracuse, NY | $32,645,614 | $69,232,567 |
Mary Manning Walsh Nursing Home Co Inc New York, NY | $75,917,101 | $69,028,602 |
Amsterdam Nursing Home Corporation New York, NY | $69,684,595 | $65,318,560 |
St Anns Home For The Aged Rochester, NY | $128,282,836 | $56,352,985 |
The Silvercrest Center For Nursing And Rehabilitation Jamaica, NY | $32,498,304 | $53,752,746 |
Northwell Health Stern Family Center For Rehabilitation Westbury, NY | $34,520,044 | $52,027,697 |
The Jewish Home For The Elderly Of Fairfield County Inc Bridgeport, CT | $107,317,417 | $58,736,292 |
Jewish Home Of Rochester Rochester, NY | $117,386,379 | $50,227,794 |