Jerome Home
- Assets
- $53.9m
- Revenue
- $22.3m
- Investments
- $326.6k
- Employees
- 369
- Location
- New Britain, CT
- Founding
- 04/1944
- Data as of
- 09/2023
- EIN
- 06-0646690
Organization Overview
Jerome Home is located in New Britain, CT. The organization was established in 1944. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 09/2023, Jerome Home employed 369 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jerome Home 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, Jerome Home generated $22.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $22.5m during the year ending 09/2023. While expenses have increased by 3.5% per year over the past 8 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
PROVIDE RESIDENTIAL AND ASSISTED LIVING SERVICES FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE JEROME HOME OFFERS A FULL RANGE OF HIGH QUALITY, MODERATELY PRICED RETIREMENT HOUSING, HEALTH CARE FACILITIES AND SERVICES DESIGNED TO PROMOTE THE MAXIMUM PERSONAL INDEPENDENCE, HEALTH, SAFETY, SELF-ESTEEM AND DIGNITY OF OLDER PEOPLE AND THEIR FAMILIES. THE HOME IS DEDICATED TO CREATING INDIVIDUAL CARE NEEDS WITH CONSISTENCY, WARMTH AND RESPECT. RESIDENTS ARE ENCOURAGED TO TAKE PART IN COMMUNITY LIFE AND TO PURSUE INDIVIDUAL INTERESTS AS WELL. CARE IS PROVIDED BY FRIENDLY, PROFESSIONAL STAFF WHO ARE DEDICATED TO THE WELL-BEING, PRIVACY AND DIGNITY OF THE RESIDENTS. THE JEROME HOME IS A HEALTHCARE FACILITY CONSISTING OF 120 BEDS (94 SKILLED NURSING AND 26 RESIDENTIAL CARE) FOR AGED PATIENTS AS WELL AS A 85 UNIT ASSISTED LIVING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Co-Chair | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Chair (until Oct 2022) | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 40 | $0 |
Name Not Listed Executive Director, Jerome Home And Arbor Rose (thru Nov 2022) | Officer | 40 | $160,047 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hartford Healthcare Corporation Management Services | 9/29/23 | $425,271 |
Fusion Medical Staffing Llc Staffing Agency (Nursing) | 9/29/23 | $321,810 |
The Nurse Network Llc Staffing Agency (Nursing) | 9/29/23 | $129,890 |
Brightstar Care Of West Hartford Staffing Agency (Nursing) | 9/29/23 | $109,857 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $53,108 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,325 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $67,433 |
| Total Program Service Revenue | $20,675,287 |
| Investment income | $638,948 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $912,999 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,313,783 |
| 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. | $218,850 |
| Compensation of current officers, directors, key employees. | $218,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,857,903 |
| Pension plan accruals and contributions | $201,765 |
| Other employee benefits | $1,999,697 |
| Payroll taxes | $879,403 |
| Fees for services: Management | $488,044 |
| Fees for services: Legal | $49,228 |
| Fees for services: Accounting | $83,262 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,192,633 |
| Advertising and promotion | $27,451 |
| Office expenses | $0 |
| Information technology | $71,987 |
| Royalties | $0 |
| Occupancy | $974,837 |
| Travel | $10,831 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,443 |
| Interest | $511,354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,404,207 |
| Insurance | $253,726 |
| All other expenses | $95,194 |
| Total functional expenses | $22,541,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,010,876 |
| Savings and temporary cash investments | $1,088,086 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,011,812 |
| 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 | $202,853 |
| Net Land, buildings, and equipment | $23,474,434 |
| Investments—publicly traded securities | $24,749,535 |
| Investments—other securities | $326,613 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $53,864,209 |
| Accounts payable and accrued expenses | $2,591,875 |
| Grants payable | $0 |
| Deferred revenue | $40,958 |
| Tax-exempt bond liabilities | $14,704,554 |
| 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 | $904,555 |
| Total liabilities | $18,241,942 |
| Net assets without donor restrictions | $35,121,344 |
| Net assets with donor restrictions | $500,923 |
| 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 | $53,864,209 |