Buttonwood Healthcare Inc
- Assets
- $9.1m
- Revenue
- $568.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Rowley, MA
- Founding
- Data as of
- 12/2022
- EIN
- 85-0629884
Organization Overview
Buttonwood Healthcare Inc is located in Rowley, MA. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buttonwood Healthcare 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 12/2022, Buttonwood Healthcare Inc generated $568.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (55.3%) each year. All expenses for the organization totaled $62.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (77.8%) per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SINCE THE ONSET OF THE COVID-19 PANDEMIC IN MASSACHUSETTS, BUTTONWOOD HEALTHCARE, INC. HAS WORKED IN CONJUNCTION WITH THE COMMONWEALTH OF MASSACHUSETTS, THE CITY OF NEW BEDFORD, AND AREA NONPROFIT HOSPITALS AND MEDICAL GROUP PRACTICES TO OPEN TWO PREVIOUSLY CLOSED NURSING FACILITIES AS DEDICATED COVID-19 FACILITIES AND TO PROVIDE NURSING HOME CARE AND SERVICES TO INDIVIDUALS RECOVERING FROM COVID-19 AT THE FACILITIES. IT IS THE GOAL OF THE COMPANY TO ADMIT ANY SUCH INDIVIDUALS REGARDLESS OF ABILITY TO PAY AND TO PROVIDE NURSING CARE AND SERVICES FOR THE DURATION OF THE PANDEMIC AND UNTIL THE LAST COVID-19 RESIDENT IS SAFELY DISCHARGED FROM ITS FACILITIES. BUTTONWOOD HEALTHCARE, INC. EXPANDED ITS MISSION AND CHARITABLE PURPOSE TO THE PROVISION OF SKILLED NURSING, ADULT DAY HEALTH, TRANSPORTATION, HOMECARE, AND ASSISTED LIVING TO COMMUNITIES IN NEED THROUGHOUT MA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE THE ONSET OF THE COVID-19 PANDEMIC IN MASSACHUSETTS, BUTTONWOOD HEALTHCARE, INC. HAS WORKED IN CONJUNCTION WITH THE COMMONWEALTH OF MASSACHUSETTS, THE CITY OF NEW BEDFORD, AND AREA NONPROFIT HOSPITALS AND MEDICAL GROUP PRACTICES TO OPEN TWO PREVIOUSLY CLOSED NURSING FACILITIES AS DEDICATED COVID-19 FACILITIES AND TO PROVIDE NURSING HOME CARE AND SERVICES TO INDIVIDUALS RECOVERING FROM COVID-19 AT THE FACILITIES. IT IS THE GOAL OF THE COMPANY TO ADMIT ANY SUCH INDIVIDUALS REGARDLESS OF ABILITY TO PAY AND TO PROVIDE NURSING CARE AND SERVICES FOR THE DURATION OF THE PANDEMIC AND UNTIL THE LAST COVID-19 RESIDENT IS SAFELY DISCHARGED FROM ITS FACILITIES. THE FIRST OF THE TWO FACILITIES OPENED ON APRIL 17,2020, IN RESPONSE TO THE FIRST WAVE OF THE PANDEMIC. THE SECOND FACILITY OPENED PURSUANT TO THE DECEMBER 24, 2020 REQUEST OF HHS IN ORDER TO HANDLE THE RESURGENCE OF CASES DURING AND FOLLOWING THE HOLIDAYS. BASED ON NOTICE FROM THE COMMONWEALTH OF MASSACHUSETTS (THE "STATE") BUTTONWOOD SUSPENDED ITS COVID OPERATIONS AS OF MARCH 8, 2021, THE DATE OF DISCHARGE OF THE LAST RESIDENT BUT REMAINED PREPARED TO REOPEN AT THE REQUEST OF THE STATE AND IN RESPONSE TO ANOTHER SURGE IN THE PANDEMIC. COMPANY INTENDS TO EXPAND ITS CHARITABLE PURPOSE TO SKILLED NURSING, ADULT DAY HEALTH, ENHANCED HOUSING, ASSISTED LIVING, HOMECARE, AND RELATED TRANSPORTATION SERVICES TO COMMUNITIES IN NEED THROUGHOUT MASSACHUSETTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Romano President/treasurer | OfficerTrustee | 1 | $0 |
Scott Picone Director | Trustee | 1 | $0 |
Elaine Tetrault Director | Trustee | 1 | $0 |
Katelyn M Collins Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Essex Group Management Management Services | 12/30/21 | $734,331 |
Norton Healthcare Staffing Medical Staffing | 12/30/21 | $606,581 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $130,959 |
| 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 | $568,224 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $10,063 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $45,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,902 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $442 |
| All other expenses | $0 |
| Total functional expenses | $62,552 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,071,068 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,038,691 |
| 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 | $4,962,161 |
| Total assets | $9,071,920 |
| Accounts payable and accrued expenses | $185,523 |
| Grants payable | $0 |
| Deferred revenue | $7,535,843 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $15,903 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $460 |
| Total liabilities | $7,737,729 |
| Net assets without donor restrictions | $1,334,191 |
| 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 | $9,071,920 |