Tufts Shared Services Inc
- Assets
- $24.4m
- Revenue
- $31.0m
- Investments
- $0.0
- Employees
- 74
- Location
- Boston, MA
- Founding
- 12/1968
- Data as of
- 09/2021
- EIN
- 23-7000827
Organization Overview
Tufts Shared Services Inc is located in Boston, MA. The organization was established in 1968. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Tufts Shared Services Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tufts Shared Services 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 09/2021, Tufts Shared Services Inc generated $31.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $29.0m during the year ending 09/2021. While expenses have increased by 0.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS ORGANIZED IN 1968 TO COORDINATE AND SUPPLEMENT THE HEALTH AND EDUCATIONAL SERVICES PROVIDED TO TUFTS MEDICAL CENTER, A HOSPITAL, AND TUFTS UNIVERSITY, A UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTILITY SUPPLY CENTER - THE USC PROVIDES UTILITY RELATED SERVICE TO MOST OF TUFTS MEDICAL CENTER AND TUFTS UNIVERSITY BUILDINGS BETWEEN HARRISON AVENUE AND TREMONT STREET. EACH INSTITUTION IS RESPONSIBLE FOR THEIR SHARE OF THE UTILITIES. ITS PRINCIPAL LOCATION IS IN THE DENTAL BUILDING BASEMENT. IT ALSO OPERATES THE TUFTS HUMAN NUTRITION RESEARCH CENTER'S UTILITY SUPPLY CENTER AND SUPPLIES NIGHTS, WEEKENDS, AND HOLIDAY COVERAGE FOR TUFTS MEDICAL CENTER. THE USC ALSO MANAGES CENTRAL ELECTRICITY, STEAM, WATER AND SEWER, AND NATURAL GAS.
ZISKIND PROJECT
RENTAL AND PARKING - WEEKDAY PARKING IS RESTRICTED TO THE MEDICAL CENTER AND UNIVERSITY USE. ON EVENINGS AND WEEKENDS THE TREMONT STREET GARAGE IS OPEN TO COMMERCIAL PARKING. THE PARKING DEPARTMENT FUNDS THE T-PASS SUBSIDY.- TREMONT STREET GARAGE-MORTGAGE PAID 6/2008.- TRAVELER STREET GARAGE-OWNED BY TSS, INC.- HERALD STREET GARAGE-LEASED- HUDSON/TYLER STREET LOT-LEASED- MOTOR MART GARAGE-LEASED- VERIZON LOT-LEASED
COPY CENTER - THE COPY CENTER COMPETITIVELY PROVIDES PRINTING SERVICES TO TUFTS MEDICAL CENTER, AND TO TUFTS UNIVERSITY AT ITS BOSTON, MEDFORD AND GRAFTON CAMPUSES. IT DOES SOME COMMERCIAL WORK FOR OUTSIDE CUSTOMERS. IT ALSO PROVIDES OFFICE COPIERS AND PAPER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey A Weinstein Board Member-Chairman(until 1/17/23) | Trustee | 1 | $0 |
Diana Richardson Board Member | Trustee | 1 | $0 |
Assad Siddiqi Board Member | Trustee | 1 | $0 |
Zachary Redmond Board Member | Trustee | 1 | $0 |
James Hurley Board Member | Trustee | 1 | $0 |
Akiyo Fuji Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
A&a Metro Transportation Shuttle Services | 9/29/23 | $1,194,279 |
Contracting Specialists Inc Construction & Repairs | 9/29/23 | $678,265 |
Toshiba Business Solutionsdelage Financ Lease Of Print/copy Equipment | 9/29/23 | $595,275 |
Bmi Mechanical Usc Nechanical /Repairs | 9/29/23 | $355,402 |
Johnson Controls Monitoring System | 9/29/23 | $269,411 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $1,229 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$42,671 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,988,115 |
| Statement of Expenses | |
|---|---|
| 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. | $465,368 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,656,907 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $483,216 |
| Payroll taxes | $679,164 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,717 |
| Fees for services: Accounting | $66,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $816,268 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $375,850 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,229 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,402,135 |
| Insurance | $271,717 |
| All other expenses | $0 |
| Total functional expenses | $29,042,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,841 |
| Savings and temporary cash investments | $5,378,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $65,099 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $30,122 |
| Prepaid expenses and deferred charges | $426,726 |
| Investments—publicly traded securities | $4,162,770 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,594,287 |
| Total assets | $24,356,223 |
| Accounts payable and accrued expenses | $2,337,356 |
| 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 | $2,337,356 |
| Net assets without donor restrictions | $22,018,867 |
| 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 |
| Total liabilities and net assets/fund balances | $22,018,867 |
Grants Awarded
Over the last fiscal year, Tufts Shared Services Inc has awarded $2,000,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TUFTS UNIVERSITY PURPOSE: GENERAL SUPPORT | $1,000,000 |
TUFTS MEDICAL CENTER INC PURPOSE: GENERAL SUPPORT | $1,000,000 |