Healthcare Options Inc
- Assets
- $0.0
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 111
- Location
- Attleboro, MA
- Founding
- 10/1986
- Data as of
- 12/2020
- EIN
- 22-2543620
Organization Overview
Healthcare Options Inc is located in Attleboro, MA. The organization was established in 1986. According to its NTEE Classification (E92) the organization is classified as: Home Health Care, under the broad grouping of Health Care and related organizations. As of 12/2020, Healthcare Options Inc employed 111 individuals. Healthcare Options 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 12/2020, Healthcare Options Inc generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 5 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
HEALTHCARE OPTIONS PROVIDES IN HOME HEALTH CARE SERVICES, OPERATES THREE ADULT DAY HEALTH CENTERS AND COORDINATED DENTAL CARE FOR ELDERS IN NEED. OPERATIONS WERE DISCONTINUED DUE TO COVID 19 AND ADULT DAY PROGRAMS WERE SOLD ON DECEMBER 31, 2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
CODE: 621610: PRIVATE HOME CARE SERVICES: THE COMPANY PROVIDES A WIDE ARRRAY OF IN HOME MEDICAL AND NON-MEDICAL SERVICES TO ASSIST INDIVIDUALS IN ACHIEVING INDEPENDENT LIVING. SERVICES GENERALLY INCLUDE HOMEMAKER AND COMPANION SERVICES, AS WELL AS, SKILLED NURSING AND REHAB THERAPY. 123 CLIENTS WERE SERVED IN 2020. PUBLISHED RATES CHARGED ARE ESTABLISHED TO COVER THE COSTS OF PROVIDING THESE SERVICES. THE PRIVATE CARE SERVICES WERE TERMINATED ON APRIL 17, 2020. CLIENTS WERE EFFECTIVELY TRANSFERRED TO ANOTHER PROVIDER OF THESE SERVICES.
CODE 621400: ADULT DAY HEALTH CENTERS: THE COMPANY OPERATED THREE ADULT DAY HEALTH FACILITIES. EACH FACILITY PROVIDED CARE TO FRAIL ELDERS, ADULTS WITH DISABILITIES AND SENIORS WHO HAVE MEMORY DEFICITS. IN 2020, THE COMPANY OFFERED TRANSPORTATION, MEAL SERVICE, MEDICATION MANAGEMENT AND RECREATIONAL ACTIVITIES TO 250 CLIENTS IN THREE LOCATIONS. STATE MANDATED CLOSURE OF THESE SERVICES ON MARCH 25, 2020 REDUCES OUR ABILITY TO PROVIDE SERVICES. THIS SERVICE LINE WAS SOLD TO ANOTHER PROVIDER OF THESE SERVICES EFFECTIVE DECEMBER 31, 2020.
ELDER DENTAL PROGRAM. PROVIDES REDUCED DENTAL CARE THROUGH NETWORK OF DENTISTS WHO PROVIDE SERVICES AT REDUCED RATES BASED ON INCOME QUALIFICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Zapasnik Director Human Resources | Officer | 2.5 | $0 |
Reynold G Spadoni CEO | Officer | 4 | $0 |
Carolyn Blake Dibbert Clerk | Trustee | 0.25 | $0 |
Geoffrey Gallant Member | Trustee | 0.25 | $0 |
Michael Murphy Member | Trustee | 0.25 | $0 |
Michael Poissant Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $25,494 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,307,817 |
| Government grants | $4,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,912 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,352,223 |
| Total Program Service Revenue | $1,533,635 |
| Investment income | $38 |
| 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 | $3,885,896 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $800,754 |
| Pension plan accruals and contributions | $2,421 |
| Other employee benefits | $130,885 |
| Payroll taxes | $93,165 |
| Fees for services: Management | $315,772 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,304 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,686 |
| Advertising and promotion | -$133 |
| Office expenses | $49,015 |
| Information technology | $21,429 |
| Royalties | $0 |
| Occupancy | $291,727 |
| Travel | $125,098 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $420 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $224,667 |
| Insurance | $10,868 |
| All other expenses | $122,187 |
| Total functional expenses | $2,607,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Healthcare Options Inc has recieved totaling $2,347,461.
| Awarding Organization | Amount |
|---|---|
Community Health Systems Inc Attleboro, MA PURPOSE: Direct Financial Support | $2,307,817 |
United Way Of Massachusetts Bay Inc Boston, MA PURPOSE: Community Impact | $23,644 |
Bristol Elder Services Inc Fall River, MA PURPOSE: ELDER DENTAL HEALTH SERVICES | $8,000 |
Bristol Elder Services Inc Fall River, MA PURPOSE: ELDER DENTAL HEALTH SERVICES | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Care Central Vna & Hospice Inc Gardner, MA | $22,239,473 | $19,675,412 |
Rockingham Visiting Nurse Association And Hospice Exeter, NH | $4,116,836 | $17,268,809 |
All Care Vna Of Greater Lynn Inc Lynn, MA | $6,212,670 | $20,998,367 |
Visiting Nurse Service And Hospice Of Suffolk Inc Northport, NY | $10,640,891 | $18,228,424 |
Overlook Visiting Nurses Association Inc Charlton, MA | $6,671,533 | $18,917,049 |
Western Connecticut Home Care Inc Danbury, CT | $8,375,956 | $16,276,802 |
Vna Home Care Services Cheektowaga, NY | $69,311,048 | $27,656,855 |
Hartford Healthcare Independence At Home Inc Wethersfield, CT | $7,536,146 | $15,467,672 |
Family Home Health Care Inc Tarrytown, NY | $2,569,495 | $14,598,356 |
Riverspring Licensed Home Care Services Agency Inc Bronx, NY | $1,678,682 | $16,405,863 |
Brockton Visiting Nurse Association Brockton, MA | $9,421,383 | $18,699,459 |
Vna Home Health & Hospice Services Inc Manchester, NH | $14,859,113 | $16,405,289 |