Fairhaven Healthcare Center Inc
- Assets
- $23.7m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 174
- Location
- Lowell, MA
- Founding
- 11/2007
- Data as of
- 12/2021
- EIN
- 20-8745264
Organization Overview
Fairhaven Healthcare Center Inc is located in Lowell, MA. The organization was established in 2007. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Fairhaven Healthcare Center Inc employed 174 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairhaven Healthcare Center 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, Fairhaven Healthcare Center Inc generated $11.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $15.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF FAIRHAVEN HEALTHCARE CENTER, INC. TO PROVIDE ELDERS WITH DYNAMIC, MEANINGFUL AND SUPPORTIVE LIVING ENVIRONMENTS, INTEGRATING QUALITY CARE, EDUCATION AND RESEARCH, RESPECT FOR INDIVIDUALITY AND THE HUMAN SPIRIT, AND INNOVATIVE APPPROACHES TO MEET THE EVER CHANGING NEEDS OF THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAIRHAVEN HEALTHCARE CENTER IS A 169-BED, JCAHO ACCREDITED AND MEDICARE CERTIFIED HEALTHCARE FACILITY OFFERING TRADITIONAL SKILLED NURSING CARE, SHORT-TERM REHABILITATION, PLUS A VARIETY OF SPECIALIZED TREATMENT PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Takesian Administrator | 40 | $167,242 | |
Emily Getchell Dns | 40 | $144,443 | |
Samantha Chuun Lpn | 40 | $129,795 | |
Deborah Lisiecki Rehab Director | 40 | $116,142 | |
Lisa Edzie Rn | 40 | $114,131 | |
Raymond Dennehy President | OfficerTrustee | 1 | $43,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clean Facility Housekeeping And Laundry Services | 12/30/21 | $538,243 |
Athena Health Care Systems Management Company | 12/30/21 | $339,642 |
Partners Pharmacy Pharmacy Services | 12/30/21 | $324,403 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $620,649 |
| 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 | $620,649 |
| Total Program Service Revenue | $11,270,827 |
| Investment income | $703 |
| 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 | $11,897,110 |
| 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. | $43,200 |
| Compensation of current officers, directors, key employees. | $43,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,595,084 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $436,283 |
| Payroll taxes | $481,113 |
| Fees for services: Management | $338,125 |
| Fees for services: Legal | $197,182 |
| Fees for services: Accounting | $40,074 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $900,150 |
| Advertising and promotion | $289 |
| Office expenses | $250,859 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $244,625 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,784,148 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $760,393 |
| Insurance | $246,679 |
| All other expenses | $18,372 |
| Total functional expenses | $14,975,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $700 |
| Savings and temporary cash investments | $1,964,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $836,849 |
| 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 | $118,053 |
| Net Land, buildings, and equipment | $14,899,128 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,932,083 |
| Other assets | $2,960,393 |
| Total assets | $23,711,383 |
| Accounts payable and accrued expenses | $5,490,292 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $25,837,235 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $760,798 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,792,307 |
| Total liabilities | $33,880,632 |
| Net assets without donor restrictions | -$10,169,249 |
| 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 | $23,711,383 |