Miriam Osborn Memorial Home Association
- Assets
- $149.5m
- Revenue
- $45.3m
- Investments
- $20.0m
- Employees
- 502
- Location
- Rye, NY
- Founding
- 12/1934
- Data as of
- 12/2022
- EIN
- 13-5562312
Organization Overview
Miriam Osborn Memorial Home Association, operating under the name The Osborn, is located in Rye, NY. The organization was established in 1934. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Osborn employed 502 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Osborn 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 12/2022, Osborn generated $45.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $54.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE LIVES OF THOSE WE SERVE IN AN INSPIRING, CARING COMMUNITY WHILE SUSTAINING OUR COMMITMENT TO EXCELLENCE.
Describe the Organization's Program Activity:
THE OSBORN OPERATES A RETIREMENT COMMUNITY OFFERING A CONTINUUM OF CARE WHICH INCLUDES INDEPENDENT LIVING RESIDENCES AND SERVICES, ASSISTED LIVING RESIDENCES AND SERVICES, THE H.O.P.E. CENTER FOR MEMORY CARE, AND A SKILLED NURSING FACILITY SERVING OVER 800 SENIOR CITIZENS, THE PAVILION. MEDICAL AND NURSING STAFF ARE SPECIALISTS IN LONG TERM CHRONIC CARE INCLUDING CARE FOR THOSE AFFECTED WITH ALZHEIMER'S DISEASE AND RELATED DEMENTIA, AND SUB-ACUTE CARE INCLUDING SHORT-TERM PHYSICAL REHABILITATION, SUB-ACUTE MEDICAL CARE, HOSPICE CARE, AND RESPITE CARE. CHARITY CARE NOT BILLED OR COLLECTED AT MARKET RATES WAS $2,024,911 IN 2022. THE ESTIMATED COST OF PROVIDING CHARITY CARE WAS $2,557,095 IN 2022.
MIRIAM OSBORN MEMORIAL HOME ASSOCIATON PERFORMS ADMINISTRATIVE SERVICES FOR STERLING HOME CARE AND THE OSBORN FOUNDATION AND RECEIVES MANAGEMENT FEES FOR THESE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Anderson President/ceo | Officer | 25.34 | $400,132 |
Robert S Davis CFO And Treasurer | Officer | 25.34 | $279,373 |
Christopher Ferreri Chief Operating Officer | Officer | 37.5 | $392,623 |
Elizabeth Rossi VP Human Resources | Officer | 37.5 | $219,325 |
Stephanie Larsen VP And General Counsel | Officer | 37.5 | $226,039 |
Christa Picciano-Daniello VP Sales | Officer | 37.5 | $195,021 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Foodservice Inc Food Service | 12/30/22 | $1,031,217 |
L And M Company Of Nieto Contractor Construction | 12/30/22 | $853,252 |
Sound Communications Inc Advertising | 12/30/22 | $619,387 |
Curtis Spacavento Landscaping | 12/30/22 | $642,998 |
Giliberto Sons Llc Construction | 12/30/22 | $620,940 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $200,000 |
| Government grants | $800,347 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,497 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,011,844 |
| Total Program Service Revenue | $43,013,349 |
| Investment income | $418,454 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $66,053 |
| Net Gain/Loss on Asset Sales | $265,493 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,346,770 |
| 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. | $2,398,187 |
| Compensation of current officers, directors, key employees. | $448,439 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,216,140 |
| Pension plan accruals and contributions | $309,477 |
| Other employee benefits | $4,772,183 |
| Payroll taxes | $1,514,994 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91,323 |
| Fees for services: Accounting | $114,920 |
| Fees for services: Lobbying | $3,251 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $336,636 |
| Fees for services: Other | $448,981 |
| Advertising and promotion | $534,786 |
| Office expenses | $1,374,249 |
| Information technology | $680,904 |
| Royalties | $0 |
| Occupancy | $5,664,710 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $880,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,830,282 |
| Insurance | $840,472 |
| All other expenses | $0 |
| Total functional expenses | $54,659,504 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,782,838 |
| Savings and temporary cash investments | $489,913 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,182,625 |
| 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 | $997,170 |
| Net Land, buildings, and equipment | $85,381,640 |
| Investments—publicly traded securities | $35,579,796 |
| Investments—other securities | $19,988,739 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,114,795 |
| Total assets | $149,517,516 |
| Accounts payable and accrued expenses | $9,783,396 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $21,933,701 |
| Escrow or custodial account liability | $1,341,838 |
| 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 | $192,621,312 |
| Total liabilities | $225,680,247 |
| Net assets without donor restrictions | -$76,162,731 |
| 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 | $149,517,516 |