Melrosewakefield Healthcare Inc
80% goes to programs $0 to raise $100
Melrosewakefield Healthcare Inc is a 501(c)(3) organization based in Medford, Massachusetts, registered in 1999, with $267,639,874 in FY2023 revenue. CharityIndex grades it A, and it directs about 80% of spending to programs.
170 Governors Ave, Medford, MA, 02155 EIN 04-2767880 Since 1999
Revenue (FY2023)
$267.6M
▼ 20.4% vs prior year
Health median: $840K
Expenses (FY2023)
$280.6M
Net assets
$125.9M
Employees
2,158
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating80% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Melrosewakefield Healthcare Inc: 80% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating5 mo reserves · -5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Melrosewakefield Healthcare Inc: 5 mo reserves · -5% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Melrosewakefield Healthcare Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Melrosewakefield Healthcare Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To operate hospitals on two campuses (one with 24 hour er services) along with a hospital school of nursing. melrosewakefield healthcare provides inpatient and outpatient medical care and ancillary medical services and testing.
Contact & location
- Address
- 170 Governors Ave, Medford, MA, 02155
- City
- Medford
- State
- Massachusetts
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue held steady from $265.8M (FY2013) to $267.6M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $81.4MNet assets $125.9M
Operating margin
-4.9%
Spent more than it raised in the latest fiscal year.
Total assets
$207.2M
Total liabilities
$81.4M
Net assets
$125.9M
Salaries & benefits
$158.3M
56% of expenses
Board members
16
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $267,639,874▼20.4% | $280,631,450▼2.0% | $125,874,734▲104% | $207,226,827▼22.2% | 990 |
| 2022 | $336,322,410▲34.9% | $286,401,935▼7.3% | $61,565,496▼50.8% | $266,194,060▼22.7% | 990 |
| 2021 | $249,297,940▼7.1% | $308,860,327▲25.8% | $125,093,344▼34.9% | $344,183,016▼22.3% | 990 |
| 2020 | $268,442,770▲6.0% | $245,540,701▲6.3% | $192,083,116▲6.8% | $443,008,431▼2.3% | 990 |
| 2019 | $253,170,701▲1.5% | $231,079,367▲1.6% | $179,898,497▲0.9% | $453,532,534▲24.5% | 990 |
| 2018 | $249,458,051▼2.4% | $227,360,595▼2.6% | $178,310,605▲18.6% | $364,382,440▲23.7% | 990 |
| 2017 | $255,502,455▼5.8% | $233,537,537▼10.5% | $150,351,664▼3.6% | $294,461,064▼7.8% | 990 |
| 2016 | $271,253,979▲2.4% | $260,827,947▼1.8% | $155,958,448▲0.3% | $319,199,641▼3.5% | 990 |
| 2015 | $264,947,420▼2.2% | $265,652,372▲3.5% | $155,438,696▼5.7% | $330,723,599▼5.0% | 990 |
| 2014 | $270,871,367▲1.9% | $256,791,114▲2.3% | $164,843,426▼7.3% | $348,066,687▲1.5% | 990 |
| 2013 | $265,794,872 | $251,080,146▼2.3% | $177,914,430▲4.7% | $342,814,392▼0.9% | 990 |
| 2012 | — | $257,108,052▼5.4% | $169,994,726▲13.5% | $345,861,629▲9.0% | 990 |
| 2011 | — | $271,682,687▲1.7% | $149,835,952▲22.2% | $317,298,201▲9.1% | 990 |
| 2010 | — | $267,255,976▲2.6% | $122,629,907▲15.1% | $290,941,268▲5.6% | 990 |
| 2009 | — | $260,499,807 | $106,521,348 | $275,526,067 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Kelly Corbi — $724,563 (0.26% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kelly Corbi | President/director | 40 | $724,563 |
| William Wyman | Assistant Treasurer | 47 | $499,190 |
| Charles R Whipple Esq | Asst Sec/general Counsel (until 4/24) | 3 | $401,883 |
| John G Giragos Md | Psych M.d. | 40 | $346,868 |
| Caryl Beison | Executive Director Pho | 40 | $346,822 |
| Lawrence Tendo | Rn | 40 | $343,503 |
| James Lech | Psychiatrist | 40 | $315,777 |
| Barbara Viens | Cno | 40 | $302,699 |
| Bobbiann Nakhoul | Clinical Admin Coordinator | 40 | $289,602 |
| Donna Sandler | Assistant Secretary (until 7/24) | 3 | $88,575 |
| Laurence Conway Md | Director | 3 | $76,240 |
| Andras Sandor Md | Director/surgeon | 3 | $18,750 |
| Joseph Pennacchio Md | Director/hematologist | 3 | $16,669 |
| Andrew Devoe | Cfo/treasurer (as of 2/24) | 1 | — |
| Andrew Freed | Chair (until 2/24)/director | 3 | — |
| Bindiya Thakkar Md | Dir./endocrinologist (until 2/24) | 3 | — |
| Diana Jeong | Director | 3 | — |
| Edward Doherty Jr | Director (until 8/24) | 3 | — |
| Gail Infurna Rn | Director | 3 | — |
| Jeffrey Mcallister | Asst. Sec./director (as of 7/24) | 3 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Laboratory Corporation of America Holdin | Laboratory Services | $4,814,727 |
| Medical Solutions | Contract Labor | $3,691,443 |
| Sodexo Inc & Affiliates | Management Services | $3,356,092 |
| Trimedx Inc | Management Services | $3,306,173 |
| Hospital Medicine Associates | Physician Services | $2,380,501 |
Grants received · $91K total
7 grants to Melrosewakefield Healthcare Inc totaling $91K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $14,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $11,600 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $23,200 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $23,200 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2020 | $7,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2019 | $5,550 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2017 | $5,800 |
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Frequently asked questions
- Is Melrosewakefield Healthcare Inc a legitimate nonprofit?
- Yes. Melrosewakefield Healthcare Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2767880, based in Medford, Massachusetts. Donations are tax-deductible.
- What is Melrosewakefield Healthcare Inc's EIN?
- Melrosewakefield Healthcare Inc's Employer Identification Number (EIN) is 04-2767880.
- How much revenue does Melrosewakefield Healthcare Inc report?
- Melrosewakefield Healthcare Inc reported $267,639,874 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Melrosewakefield Healthcare Inc's spending goes to programs?
- Melrosewakefield Healthcare Inc spends about 80% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Melrosewakefield Healthcare Inc have?
- CharityIndex grades Melrosewakefield Healthcare Inc A, based on program efficiency and fundraising cost.
- How much does Melrosewakefield Healthcare Inc's highest-paid employee make?
- The highest reported compensation on Melrosewakefield Healthcare Inc's latest Form 990 is $724,563, paid to Kelly Corbi (President/director).
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Data for Melrosewakefield Healthcare Inc (EIN 04-2767880) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.