Overview
What is Masonicare At Mystic Inc?
Masonicare At Mystic Inc., established in 2014 as a Connecticut-based nonprofit, serves as both the owner and manager of Senior Living by Masonicare, LLC. This affiliated entity provides assisted living, including memory care, and independent living services for the elderly. The nonprofit, exempt from federal income tax under Section 501(c)(3), owns a significant portion of Senior Living by Masonicare, LLC, with the remainder owned by Mystic Senior Living Associates, LLC. The 179-unit assisted living facility, situated in Mystic, Connecticut, welcomed its first residents in November 2016. As of the fiscal year ending in September 2022, the occupancy rates for independent and assisted living were 95.96% and 86.25%, respectively. With a workforce of 153 employees, Masonicare At Mystic Inc. is dedicated to enhancing the quality of life for the elderly in its care.
Official website here: www.masonicare.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 64%)
Masonicare At Mystic Inc has received a "Needs Improvement" rating from Charity Navigator, indicating concerns regarding its financial health and operational transparency. While the organization excels in areas such as having a fully independent board and strong audit practices, it struggles with its liabilities to assets ratio and the percentage of expenses dedicated to programs, which reflect less favorable financial management.
The organization shows strengths in its governance, as evidenced by 100% independent board members and comprehensive policies for conflict of interest and whistleblowing. Additionally, it has a solid framework for documenting its processes, with meeting minutes available. However, the absence of the tax form on its website is a noted shortfall that affects its overall rating.
Financially, Masonicare At Mystic Inc faces challenges, particularly with a high liabilities to assets ratio of nearly 90%, which raises questions about its sustainability and ability to fund its mission effectively. The program expense ratio of 56.30% suggests that a significant portion of its budget is not being allocated towards direct program services, which may limit its impact on the community it serves.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Masonicare At Mystic Inc?
84% of 233 reviewers on Facebook recommend Masonicare At Mystic Inc. Here is a summary of their reviews:
Many users express long-standing affection for the organization, highlighting positive experiences that span decades. Some comments reflect on family ties to Masonicare, which helps illustrate a sense of history and connection with the nonprofit. Overall, reviewers appreciate the services offered and mention a strong sense of community within the organization.
While specific details about the services weren’t extensively covered, the testimonials indicate that Masonicare At Mystic has a solid reputation among its supporters and former employees. It seems to reflect a commitment to quality and care, leaving many satisfied with their association.
This AI summary has been generated from reviews found on Facebook.
Is Masonicare At Mystic Inc legitimate?
Masonicare At Mystic Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Masonicare At Mystic Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.masonicare.org
What is the mission statement of Masonicare At Mystic Inc?
Masonicare at Mystic Inc., established as a 501(c)(3) non-profit corporation in 2014, serves as the owner and manager of Senior Living by Masonicare, LLC. Its primary objective is to provide assisted living, including memory care, and independent living services for the elderly. The Internal Revenue Service has recognized Masonicare at Mystic Inc. as a tax-exempt public charity. The corporation's significant ownership in Senior Living by Masonicare, LLC, enables it to manage a 179-unit assisted living facility that opened in Mystic, Connecticut, in 2016. Masonicare at Mystic Inc. is dedicated to enhancing the living experiences of the elderly, offering them a supportive and nurturing environment.
Official website here: www.masonicare.org
Who is the CEO of Masonicare At Mystic Inc?
Unavailable The CEO's salary of Masonicare At Mystic Inc is $0 and their total compensation is $757,743.
Official website here: www.masonicare.org
What is the revenue of Masonicare At Mystic Inc?
Masonicare At Mystic Inc's revenue in 2022 was $563,389.
Official website here: www.masonicare.org
Who are the executives of Masonicare At Mystic Inc and what are their salaries?
There are 153 employees and 20 volunteers at Masonicare At Mystic Inc.
Here are 21 key members and their salaries (Masonicare At Mystic Inc's CEO's salary is $0 and their total compensation is $757,743):
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- Related: $709,728
- Other: $48,015
- Compensation: $129,774
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- Other: $38,756
- Compensation: $106,341
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- Other: $15,987
- Compensation: $120,603
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- Other: $15,726
Official website here: www.masonicare.org
Where can I find the form 990 for Masonicare At Mystic Inc?
Masonicare At Mystic Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.masonicare.org
Learn more at the official website: www.masonicare.org
Mission Statement of Masonicare At Mystic Inc
Masonicare at Mystic Inc., established as a Connecticut non-profit corporation in January 2014, was formed with a mission to serve as both the owner and manager of Senior Living by Masonicare, LLC. This mission encompasses providing assisted living, including memory care, and independent living for the elderly. The Internal Revenue Service recognized Masonicare at Mystic Inc. as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and classified it as a public charity under Code Section 509(a)(2). The corporation's mission is centered around supporting the elderly by acquiring properties and managing senior living facilities that cater to their unique needs, ensuring a comfortable and secure living environment for them.
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Impact
July, 2024
Masonicare At Mystic Inc's impact is primarily focused on providing high-quality assisted living (including memory care assisted living) and independent living services to the elderly through its management of Senior Living by Masonicare, LLC (SLM). The facility in Mystic, Connecticut, offers a total of 179 units, including independent living apartments and assisted living apartments. With a strong occupancy rate, Masonicare At Mystic Inc plays a crucial role in meeting the housing and care needs of seniors in the area. Their mission to serve as a public charity under Section 501(c)(3) reflects their commitment to providing essential human services to the elderly population.
This information is meant to be a general summary of Masonicare At Mystic Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $563,389
- Gross Receipts: $563,389
Assets and Liabilities:
- Total Assets: $29,132,795
- Total Liabilities: $26,127,704
- Net Assets: $3,005,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Management Fees
Revenue
$563,389
Organization Details
Founding Year
2014
Phone
(860) 415-2500Main Address
PO Box 70, Wallingford, CT, 06492
Website
www.masonicare.orgNTEE Category
Code: P20 - Human services
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