South Shore Property Inc
- Assets
- $66.1m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 0
- Location
- South Weymouth, MA
- Founding
- 04/1983
- Data as of
- 09/2020
- EIN
- 05-0398822
Organization Overview
South Shore Property Inc is located in South Weymouth, 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Shore Property 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 09/2020, South Shore Property Inc generated $5.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $4.4m during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SOUTH SHORE PROPERTY ACQUIRES, MANAGES AND DEVELOPS REAL PROPERTY FOR USE IN CARRYING OUT THE TAX-EXEMPT PURPOSES OF THE ORGANIZATION'S PARENT COMPANY AND AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTH SHORE PROPERTY, INC. DEVELOPED AND MANAGES THE AMBULATORY CANCER CENTER ADJACENT TO SOUTH SHORE HOSPITAL, A RELATED ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rose Dipietro President/ceo Through 12/31/20 | OfficerTrustee | 0.5 | $0 |
Pamela O'leary Vice Chair Through 12/31/21 | OfficerTrustee | 0.5 | $0 |
Kenneth Kirkland Chair Through 12/31/21 | OfficerTrustee | 0.5 | $0 |
Stephen Coco Treasurer & CFO Through 11/12/21 | Officer | 0.5 | $0 |
Joseph R Driscoll ESQ General Counsel/clerk | Officer | 0.5 | $0 |
Kimberly Dever MD Director, Chief Ob/gyn | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $184,638 |
| 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 | $5,887,395 |
| Statement of Expenses | |
|---|---|
| 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 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 | $8,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $176,163 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,538,174 |
| 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 | $1,654,903 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,380,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,811,279 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,168 |
| 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 | $39,354 |
| Investments—publicly traded securities | $599,832 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,794,273 |
| Other assets | $762,718 |
| Total assets | $66,126,431 |
| Accounts payable and accrued expenses | $16,453,604 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $36,830,000 |
| 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 | $1,794,273 |
| Total liabilities | $55,077,877 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $11,048,554 |
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