BAY COVE WOODWARD PARK RESIDENCE INC C/O BAY COVE HUMAN SERVICES

EIN: 043184824 501(c)(3) Housing & Shelter

BOSTON, MA

Total Revenue
$197,476
Total Expenses
$136,805
Total Assets
$594,298
Net Assets
$162,277
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
MA
Principal Officer
KEVIN MARTONE
Phone
6173713000
Tax Period
2023-07-01 to 2024-06-30

BAY COVE WOODWARD PARK RESIDENCE INC C/O BAY COVE HUMAN SERVICES, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $197K in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum. The organization ran a surplus of $61K, a strong 31% operating margin.

Mission

PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $144,096
Program Service Revenue $52,764
Investment Income $616
Other Revenue $0
TOTAL REVENUE $197,476

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $126,680
Other Expenses $136,805
TOTAL EXPENSES $136,805

Year-over-Year Comparison

2023 2022 Change
Revenue $197,476 $123,528 +0.6%
Expenses $136,805 $189,458 -0.3%
Net Income $60,671 $-65,930 -1.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
17
Independent Members
16
Employees
N/A
Volunteers
16

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
9
$1,150,421
Total Directors
19
$540,070
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AJAY CHADHA VICE CHAIRPERSON 0.10
Officer Director
$0 $0 $0
ANNE LEVINE DIRECTOR 0.10
Director
$0 $0 $0
ANNE RUSH DIRECTOR 0.10
Director
$0 $0 $0
BRUCE G GOODMAN ESQ DIRECTOR 0.10
Director
$0 $0 $0
CHRISTOPHER LENTO DIRECTOR 0.10
Director
$0 $0 $0
EDDY DESIR DIRECTOR 0.10
Director
$0 $0 $0
GREGORY BUSCONE TREASURER 0.10
Officer Director
$0 $0 $0
JEAN MCGUIRE DIRECTOR 0.10
Director
$0 $0 $0
LISA BLAKE DIRECTOR 0.10
Director
$0 $0 $0
LOUIS JOSEPHSON PRESIDENT/CEO (THRU 06/2024) 0.10
Officer Director
$0 $47,261 $455,719
PETER A PEASE DIRECTOR 0.10
Director
$0 $0 $0
ROBERT J THOMAS DIRECTOR 0.10
Director
$0 $0 $0
RUTH FISHBEIN CHAIRPERSON 0.10
Officer Director
$0 $0 $0
SALLY THOMPSON DIRECTOR 0.10
Director
$0 $0 $0
SETH DALY STENNIS DIRECTOR 0.10
Director
$0 $0 $0
THOMAS J AITES DIRECTOR 0.10
Director
$0 $0 $0
WILLIAM H SPRAGUE PRESIDENT/CEO (AS OF 6/2024) 0.10
Officer Director
$0 $0 $84,351
WILLIAM M MAFFIE III DIRECTOR 0.10
Director
$0 $0 $0
WILLIAM OAKLEY DIRECTOR (THRU 06/2024) 0.10
Director
$0 $0 $0
ALISON SANCHEZ CLERK (THRU 03/2024) 0.10
Officer
$0 $7,991 $87,201
HEMA MAHASE ASSISTANT CLERK 0.10
Officer
$0 $14,681 $89,782
KERRY J OLLEN ASST TREASURER/SVP/CFO (THRU 07/2023) 0.10
Officer
$0 $13,133 $271,786
MARCEL VERNON CFO & ASST. TREASURER (AS OF 07/2023) 0.10
Officer
$0 $13,634 $161,582
JAMES LAPRADE FORMER SVP OPERATIONS 0.10
$0 $928 $196,342
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $197,476 $136,805 $594,298 $60,671
2023 $123,528 $189,458 $524,754 $-65,930
2022 $111,937 $130,555 $584,281 $-18,618
2021 $106,565 $165,632 $565,729 $-59,067
2020 $106,010 $114,933 $594,113 $-8,923
2019 $175,410 $160,140 $599,594 $15,270
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