Lasell Village Inc
- Assets
- $98.4m
- Revenue
- $24.4m
- Investments
- $0.0
- Employees
- 224
- Location
- Auburndale, MA
- Founding
- 11/1990
- Data as of
- 06/2022
- EIN
- 22-3042122
Organization Overview
Lasell Village Inc is located in Auburndale, MA. The organization was established in 1990. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Lasell Village Inc employed 224 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lasell Village 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 06/2022, Lasell Village Inc generated $24.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $25.3m during the year ending 06/2022. While expenses have increased by 3.9% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LASELL VILLAGE IS A CONTINUING CARE RETIREMENT COMMUNITY, ON THE CAMPUS OF LASELL UNIVERSITY, WITH INDEPENDENT, SUPPORTED, AND SKILLED NURING RESIDENTS.
Describe the Organization's Program Activity:
LASELL VILLAGE IS A PREMIER LIFE PLAN COMMUNITY THAT INTEGRATES A UNIQUE EDUCATIONAL EXPERIENCE WITH QUALITY SERVICES AND CARE. THE PRESIDING PHILOSOPHY OF EDUCATION AT LASELL IS THAT LEARNING IS A WAY OF BEING AN APPROACH TO LIVING THROUGH WHICH RESIDENTS PURSUE INTERESTS AND ENGAGE IN NEW EXPERIENCES THAT ENRICH THEIR LIVES. LASELL VILLAGE IS A VIBRANT LIFE PLAN COMMUNITY AND HOME TO APPROXIMATELY 265 RESIDENTS IN NEWTON, MASSACHUSETTS WHERE RESIDENTS ARE REQUIRED TO PARTICIPATE IN 450 HOURS OF LEARNING AND ENGAGEMENT EACH YEAR. LOCATED ON THE CAMPUS OF LASELL UNIVERSITY, IT COMBINES HOUSING, HEALTHCARE, HIGHER EDUCATION AND HOSPITALITY ON A MULTI-GENERATIONAL CAMPUS. IT OFFERS AN ARRAY OF LIFESTYLE AND HEALTH CARE SERVICES, COMBINING THE ELEMENTS OF LIFELONG LEARNING, SUPPORT SERVICES AND LONG-TERM CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Simon Chair | OfficerTrustee | 2 | $0 |
Jeffrey Augustine Treasurer (until 4/2022)/director | OfficerTrustee | 2 | $0 |
Susan Hass Clerk | OfficerTrustee | 1 | $0 |
Deborah A Daccord Director | Trustee | 1 | $0 |
Gerry Deroche Director (until 12/2021) | Trustee | 1 | $0 |
Christine Doyle Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lasell University Management Contract | 6/29/22 | $1,497,394 |
Genesis Rehabilitation Services Rehab For Skilled Nursing Unit | 6/29/22 | $683,787 |
Commodore Builders Construction Management | 6/29/22 | $474,667 |
Genesis Eldercare Skilled Nursing Mgmt. Contract | 6/29/22 | $376,680 |
Dimella Shaffer Associates Architectural | 6/29/22 | $321,214 |
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 | $47,994 |
| Noncash contributions included in lines 1a–1f | $25,055 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,994 |
| Total Program Service Revenue | $21,729,674 |
| Investment income | $2,261,680 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $152 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,426,520 |
| 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. | $360,391 |
| Compensation of current officers, directors, key employees. | $360,391 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,226,217 |
| Pension plan accruals and contributions | $229,118 |
| Other employee benefits | $1,059,259 |
| Payroll taxes | $531,450 |
| Fees for services: Management | $1,016,332 |
| Fees for services: Legal | $13,675 |
| Fees for services: Accounting | $143,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $116,788 |
| Fees for services: Other | $206,716 |
| Advertising and promotion | $24,487 |
| Office expenses | $208,167 |
| Information technology | $297,189 |
| Royalties | $0 |
| Occupancy | $4,397,754 |
| Travel | $6,440 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,545 |
| Interest | $670,293 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,888,999 |
| Insurance | $291,392 |
| All other expenses | $133,291 |
| Total functional expenses | $25,349,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,043,557 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,662,011 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $747,270 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,320,216 |
| Net Land, buildings, and equipment | $38,229,243 |
| Investments—publicly traded securities | $44,948,232 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $497,067 |
| Total assets | $98,447,596 |
| Accounts payable and accrued expenses | $2,402,467 |
| Grants payable | $0 |
| Deferred revenue | $1,374,075 |
| Tax-exempt bond liabilities | $13,363,106 |
| 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 | $115,705,299 |
| Total liabilities | $132,844,947 |
| Net assets without donor restrictions | -$34,558,418 |
| Net assets with donor restrictions | $161,067 |
| 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 | $98,447,596 |