TUFTS SHARED SERVICES INC

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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

1968

Legal Domicile

Principal Officer

JAMES FOLEY

Phone

6176365402

Tax Period

2023-10-01 to 2024-09-30

TUFTS SHARED SERVICES INC, founded in 1968, is a mid-sized nonprofit in the Health Care sector that reported $34.2M in total revenue in fiscal year 2023. Expenses of $31.6M left a modest 7% surplus.

Mission

THE ORGANIZATION WAS ORGANIZED IN 1968 TO COORDINATE AND SUPPLEMENT THE HEALTH AND EDUCATIONAL SERVICES AND ACTIVITIES OF TUFTS MEDICAL CENTER, A HOSPITAL, AND TUFTS UNIVERSITY, A UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $15,147,444 Revenue: $16,787,168

UTILITY SUPPLY CENTER - THE USC PROVIDES UTILITY RELATED SERVICE TO MOST OF TUFTS MEDICAL CENTER AND TUFTS UNIVERSITY BUILDINGS BETWEEN HARRISON AVENUE AND TREMONT STREET. EACH INSTITUTION IS...

UTILITY SUPPLY CENTER - THE USC PROVIDES UTILITY RELATED SERVICE TO MOST OF TUFTS MEDICAL CENTER AND TUFTS UNIVERSITY BUILDINGS BETWEEN HARRISON AVENUE AND TREMONT STREET. EACH INSTITUTION IS RESPONSIBLE FOR THEIR SHARE OF THE UTILITIES. ITS PRINCIPAL LOCATION IS IN THE DENTAL BUILDING BASEMENT. IT ALSO OPERATES THE TUFTS HUMAN NUTRITION RESEARCH CENTER'S UTILITY SUPPLY CENTER AND SUPPLIES NIGHTS, WEEKENDS, AND HOLIDAY COVERAGE FOR TUFTS MEDICAL CENTER. THE USC ALSO MANAGES CENTRAL ELECTRICITY, STEAM, WATER AND SEWER, AND NATURAL GAS.

Program 2

Expenses: $12,976,493

RENTAL AND PARKING - WEEKDAY PARKING IS RESTRICTED TO THE MEDICAL CENTER AND UNIVERSITY USE. ON EVENINGS AND WEEKENDS THE TREMONT STREET GARAGE IS OPEN TO COMMERCIAL PARKING. THE PARKING DEPARTMENT FUNDS THE T-PASS SUBSIDY.- TREMONT STREET GARAGE-MORTGAGE PAID 6/2008.- TRAVELER STREET GARAGE-OWNED BY TSS, INC.- HERALD STREET GARAGE-LEASED- HUDSON/TYLER STREET LOT-LEASED- MOTOR MART GARAGE-LEASED- VERIZON LOT-LEASED

Program 3

Expenses: $1,811,773 Revenue: $2,040,596

COPY CENTER - THE COPY CENTER COMPETITIVELY PROVIDES PRINTING SERVICES TO TUFTS MEDICAL CENTER, AND TO TUFTS UNIVERSITY AT ITS BOSTON, MEDFORD AND GRAFTON CAMPUSES. IT DOES SOME COMMERCIAL WORK FOR...

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $33,704,186

Investment Income $290,079

Other Revenue $167,010

TOTAL REVENUE $34,161,275

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,309,524

Fundraising Expenses $0

Program Expenses $29,935,710

Other Expenses $24,334,070

TOTAL EXPENSES $31,643,594

Year-over-Year Comparison

	2023	2022	Change
Revenue	$34,161,275	$35,821,546	0.0%
Expenses	$31,643,594	$34,566,709	-0.1%
Net Income	$2,517,681	$1,254,837	+1.0%

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

Governance

Voting Members

Independent Members

N/A

Employees

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

$488,107

Total Directors

$4,623,392

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANA RICHARDSON	BOARD MEMBER (UNTIL 3/2024)	1.00	Director	$0	$118,026	$1,006,062
ZACHARY REDMOND	SECRETARY	1.00	Director	$0	$70,149	$669,412
ASSAD SIDDIQI	BOARD MEMBER (UNTIL 7/2024)	1.00	Director	$0	$59,289	$499,101
BARBARA STEIN	BOARD MEMBER	1.00	Director	$0	$71,467	$438,443
PHIL OKALA	BOARD MEMBER	1.00	Director	$0	$16,258	$1,137,502
JAMES HURLEY	BOARD MEMBER	1.00	Director	$0	$52,922	$549,949
KEVIN BENNETT	BOARD MEMBER	1.00	Director	$0	$0	$0
AKIYO FUJI	BOARD MEMBER	1.00	Director	$0	$35,297	$322,923
JAMES FOLEY	EXECUTIVE DIRECTOR	40.00	Officer	$259,695	$27,185	$286,880
MARIA PISA	CONTROLLER	40.00	Officer	$201,227	$0	$201,227
EDWARD DULLEA	USC LEAD MECHANIC	40.00	Highest	$134,011	$36,875	$170,886
WILLIAM HUNT	USC CHIEF ENGINEER	40.00	Highest	$178,569	$14,349	$192,918
STEVEN SANKUS	USC LEAD MECHANIC	40.00	Highest	$127,530	$13,514	$141,044
MAHENDRA JAGLALL	USC MECHANIC I	40.00	Highest	$128,270	$3,803	$132,073
ENZO TAMBURELLO	LEAD PLUMBER	40.00	Highest	$152,244	$37,464	$189,708
JEFFREY A WEINSTEIN	FORMER BOARD MEMBER/CHAIR	1.00		$0	$0	$601,188
MARK GONTHIER	FORMER BOARD MEMBER	0.00		$0	$37,117	$291,430

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	$34,161,275	$31,643,594	$36,878,980	$2,517,681
2023	$35,821,546	$34,566,709	$33,997,822	$1,254,837
2022	$36,251,859	$32,360,205	$29,593,995	$3,891,654
2021	$30,988,115	$29,042,696	$24,356,223	$1,945,419
2020	$29,549,509	$30,636,986	$23,127,749	$-1,087,477
2019	$30,173,883	$29,596,267	$24,543,572	$577,616
2018	$29,106,882	$28,217,221	$23,883,762	$889,661