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Nonprofiteer
← HEALTH FOUNDATION OF CENTRAL MASSACHUSETTS INC

Form 990 for tax year 2023

Filed by HEALTH FOUNDATION OF CENTRAL MASSACHUSETTS INC.

Totals

Total revenue
$4,956,821
Total expenses
$4,143,979
Contributions and grants received
$0
Grants paid
$2,849,076
Program service revenue
$0
Investment income
$4,683,671
Other revenue
$273,150
Total assets, end of year
$87,636,709
Total liabilities, end of year
$1,898,614
Net assets or fund balances, end of year
$85,738,095
Program services expenses (Part IX)
$3,752,737
Management and general expenses
$391,242
Fundraising expenses
$0
Program service expenses (Part III)
$3,752,737

Program services were 90.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $628,688 · excluded $628,688

  • 7a · Gross sales of assets other than inventory

    securities $19,439,562

  • 7b · Less cost or other basis and sales expenses

    securities $15,384,579

  • 7c · Gain or loss

    securities $4,054,983

  • 7d · Net gain or loss

    total $4,054,983 · related or exempt $4,054,983

  • 11a · Other revenue: OTHER INCOME

    total $273,150 · related or exempt $273,150

  • 11e · Other revenue, total

    $273,150

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,849,076 · program services $2,849,076

  • 5 · Compensation of officers, directors and key employees

    total $519,123 · program services $430,527 · management and general $88,596

  • 7 · Other salaries and wages

    total $218,524 · program services $134,566 · management and general $83,958

  • 8 · Pension plan contributions

    total $24,452 · program services $20,279 · management and general $4,173

  • 9 · Other employee benefits

    total $63,586 · program services $52,734 · management and general $10,852

  • 10 · Payroll taxes

    total $49,906 · program services $41,389 · management and general $8,517

  • 11b · Fees: legal

    total $21,455 · management and general $21,455

  • 11c · Fees: accounting

    total $23,500 · management and general $23,500

  • 11f · Fees: investment management

    total $130,035 · management and general $130,035

  • 11g · Fees: other

    total $126,926 · management and general $126,926

  • 13 · Office expenses

    total $9,357 · program services $5,822 · management and general $3,535

  • 16 · Occupancy

    total $130,222 · program services $78,133 · management and general $52,089

  • 19 · Conferences, conventions and meetings

    total $33,975 · program services $20,385 · management and general $13,590

  • 22 · Depreciation, depletion and amortization

    total $1,709 · program services $1,025 · management and general $684

  • 23 · Insurance

    total $9,536 · program services $5,722 · management and general $3,814

  • 24a · Other expenses: TAXES-OTHER

    total -$218,514 · management and general -$218,514

  • 24b · Other expenses: OUTSIDE SERVICES

    total $79,818 · program services $47,891 · management and general $31,927

  • 24c · Other expenses: GRANT RELATED EXPENSES

    total $60,676 · program services $60,676

  • 24d · Other expenses: PUBLICATIONS AND SPECIA

    total $7,520 · program services $4,512 · management and general $3,008

  • 24e · All other expenses

    total $3,097 · management and general $3,097

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $219,561 · end of year $134,345

  • 4 · Accounts receivable

    beginning of year $104,296 · end of year $455,527

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,976 · end of year $8,384

  • 10a · Land, buildings and equipment: cost or other basis

    $270,416

  • 10b · Land, buildings and equipment: accumulated depreciation

    $265,851

  • 10c · Land, buildings and equipment, net

    beginning of year $6,274 · end of year $4,565

  • 11 · Investments: publicly traded securities

    beginning of year $31,778,365 · end of year $36,924,745

  • 12 · Investments: other securities

    beginning of year $48,926,766 · end of year $49,227,085

  • 13 · Investments: program-related

    beginning of year $163,264 · end of year $137,056

  • 15 · Other assets

    beginning of year $909,493 · end of year $745,002

  • 17 · Accounts payable and accrued expenses

    beginning of year $110,522 · end of year $114,702

  • 18 · Grants payable

    beginning of year $987,371 · end of year $1,038,910

  • 25 · Other liabilities

    beginning of year $909,493 · end of year $745,002

  • 27 · Net assets without donor restrictions

    beginning of year $80,108,609 · end of year $85,738,095

Mission and programs · 2023

Mission

TO IMPROVE THE HEALTH STATUS OF THOSE WHO LIVE OR WORK IN CENTRAL MASSACHUSETTS.

  • TO PROVIDE FUNDING TO NON-PROFIT ORGANIZATIONS FOR THE PURPOSE OF IMPROVING THE HEALTH OF THOSE WHO LIVE AND WORK IN CENTRAL MASSACHUSETTS.

    Expenses $3,752,737 · Grants $2,849,076

As filed on the 2023 return.

Listed in Part VII

  • Amie Shei PhD

    PRESIDENT/CEO

    Total calculated
    $278,192
    From this org
    $267,180
    From related orgs
    $0
    Other
    $11,012
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $242,180
    Bonus
    $25,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,012
    Filer's total
    $278,192

  • Jennie Blake

    VP PROGRAMS

    Total calculated
    $146,155
    From this org
    $131,977
    From related orgs
    $0
    Other
    $14,178
    Hours/week
    37.5

  • Michelle L Ewing

    DIRECTOR OF FINANCE & ADMINISTRATION

    Total calculated
    $152,856
    From this org
    $119,966
    From related orgs
    $0
    Other
    $32,890
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $119,966
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,890
    Filer's total
    $152,856

  • Daniel Germain

    GRANTS AND OPERATION MANAGER

    Total calculated
    $132,936
    From this org
    $101,409
    From related orgs
    $0
    Other
    $31,527
    Hours/week
    37.5

  • Timothy M Bibaud JD

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Randall V Becker CPA MBA

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Gisela Velez MD MPH

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Sejal M Daga MD Faafp

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Alex Corrales C-Phm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Dennis M Dimitri MD Faafp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Diane E Gould Licsw

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Lindsay F Greenfield MBA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • J Michael Grenon Cima

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Christie L Hager JD MPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Kathryn Lee MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Carole M Steen Msa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE FOUNDATION PAID FOR A PRIVATE SOCIAL CLUB MEMBERSHIP FOR THE PRESIDENT. MEMBERSHIP CEASED IN SEPTEMBER 2023.
PART I, LINE 4B
THERE IS A DEFERRED COMPENSATION PLAN IN ACCORDANCE WITH IRC SECTION 457(B) FOR THE FORMER PRESIDENT. THE ORGANIZATION ACCRUED $0 TO THIS PLAN FOR THE CURRENT YEAR. THE CUMULATIVE BALANCE OF THE ACCRUED DEFERRED COMPENSATION AS OF YEAR-END IS $140,786.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443209349311664

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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