Masonicare Corporation
- Assets
- $48.4m
- Revenue
- $15.7m
- Investments
- $1.9m
- Employees
- 121
- Location
- Wallingford, CT
- Founding
- 05/1996
- Data as of
- 09/2023
- EIN
- 06-1435919
Organization Overview
Masonicare Corporation is located in Wallingford, CT. The organization was established in 1996. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2023, Masonicare Corporation employed 121 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masonicare Corporation 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, Masonicare Corporation generated $15.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $16.1m during the year ending 09/2023. 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
MASONICARE IS A PARENT HOLDING COMPANY AND SUPPORT ORGANIZATION FOR ITS AFFILIATE CORPORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES MANAGEMENT SUPPORT FOR ITS AFFILIATES WHO PROVIDE GERIATRIC CARE SERVICES, HOSPITAL SERVICES, MANAGEMENT SERVICES, FUNDRAISING SERVICES AND INVESTMENT MANAGEMENT SERVICES. THIS IS DONE WITH A VIEW OF FURTHERING THE LONG-RANGE GOALS AND TRADITIONAL OBJECTIVES AND VALUES OF PROVIDING FOR THE NEEDS OF AN AGING POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee Thru 03/31/2023 | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blankrome Legal | 9/29/23 | $659,496 |
Pc Connection It Services | 9/29/23 | $642,608 |
Presisio Networked Solutions Group Llc It Services | 9/29/23 | $547,439 |
Microsoft Corporation It Services | 9/29/23 | $480,183 |
Netsmart It Services | 9/29/23 | $427,044 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,748,396 |
| Investment income | $5,239,797 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $59,365 |
| 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 | $15,691,064 |
| 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. | $1,348,160 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,682,924 |
| Pension plan accruals and contributions | $787,608 |
| Other employee benefits | $1,611,256 |
| Payroll taxes | $618,988 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,544 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $970,618 |
| Advertising and promotion | $67,495 |
| Office expenses | $66,185 |
| Information technology | $402,935 |
| Royalties | $0 |
| Occupancy | $369,509 |
| Travel | $125,416 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,185 |
| Interest | $1,067,546 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,400,061 |
| Insurance | $66,212 |
| All other expenses | $20,518 |
| Total functional expenses | $16,128,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,571,788 |
| Savings and temporary cash investments | $1,253 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,296,784 |
| Inventories for sale or use | $82,589 |
| Prepaid expenses and deferred charges | $914,630 |
| Net Land, buildings, and equipment | $9,884,433 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,916,180 |
| Investments—program-related | $26,581,018 |
| Intangible assets | $0 |
| Other assets | $4,132,130 |
| Total assets | $48,380,805 |
| Accounts payable and accrued expenses | $3,389,287 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $97,002,793 |
| Escrow or custodial account liability | $14,114 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,313,480 |
| Total liabilities | $123,719,674 |
| Net assets without donor restrictions | -$75,338,869 |
| 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 | $48,380,805 |