HALLMARK HEALTH PROPERTIES INC

EIN: 222580542 501(c)(3) Health Care

MEDFORD, MA

Total Revenue
$2,783,437
Total Expenses
$2,997,438
Total Assets
$20,546,776
Net Assets
$7,023,758
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
MA
Principal Officer
KELLY CORBI
Phone
7819793000
Tax Period
2023-10-01 to 2024-09-30

HALLMARK HEALTH PROPERTIES INC, founded in 1984, is a community nonprofit in the Health Care sector that reported $2.8M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Net assets of $7.0M represent 30 months of operating reserves.

Mission

THE MISSION OF HALLMARK HEALTH PROPERTIES, INC. IS TO ACQUIRE, HOLD, MANAGE AND DEVELOP REAL ESTATE PROPERTIES FOR THE BENEFIT OF MELROSEWAKEFIELD HEALTHCARE PARENT CORPORATION (THE PARENT) AND MELROSEWAKEFIELD HEALTHCARE, INC. (HOSPITAL) AND THEIR RELATED ORGANIZATIONS.

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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 $0
Program Service Revenue $2,833,318
Investment Income $-49,881
Other Revenue $0
TOTAL REVENUE $2,783,437

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,997,438
Other Expenses $2,997,438
TOTAL EXPENSES $2,997,438

Year-over-Year Comparison

2023 2022 Change
Revenue $2,783,437 $2,483,245 +0.1%
Expenses $2,997,438 $2,593,631 +0.2%
Net Income $-214,001 $-110,386 +0.9%
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
3
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
4
$1,983,891
Total Directors
4
$2,254,800
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES R WHIPPLE ESQ SECRETARY/DIRECTOR (UNTIL 4/24) 1.00
Officer Director
$0 $77,182 $479,065
WILLIAM WYMAN TREASURER/DIRECTOR 1.00
Officer Director
$0 $60,460 $559,650
KELLY CORBI PRESIDENT/DIRECTOR 1.00
Officer Director
$0 $114,673 $839,236
BRIAN SALAMONE DIRECTOR (AS OF 4/24) 1.00
Director
$0 $63,554 $376,849
DONNA SANDLER SECRETARY 1.00
Officer
$0 $17,365 $105,940
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
2024 $2,783,437 $2,997,438 $20,546,776 $-214,001
2023 $2,483,245 $2,593,631 $21,540,159 $-110,386
2022 $2,191,281 $2,511,458 $22,115,434 $-320,177
2021 $1,945,268 $2,275,706 $18,752,595 $-330,438
2020 $1,998,928 $2,323,245 $21,541,970 $-324,317
2019 $1,863,166 $2,396,116 $19,838,673 $-532,950
2018 $1,407,160 $2,194,364 $21,807,178 $-787,204
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