SOUTH COVE MANOR AT QUINCY POINT R… - Form 990 Financial Data

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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

2011

Legal Domicile

Principal Officer

WILLIAM GRAVES

Phone

6174230590

Tax Period

2023-01-01 to 2023-12-31

SOUTH COVE MANOR AT QUINCY POINT REHABILITATION CENTER INC, founded in 2011, is a mid-sized nonprofit in the Health Care sector that reported $18.3M in total revenue in fiscal year 2023. Expenses of $17.0M left a modest 7% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE INDIVIDUALIZED REHABILITATION AND NURSING CARE THAT REFLECTS ASIAN CULTURAL VALUES. THE ORGANIZATION'S CORE VALUES INCLUDE: 1. RESPECTING THE PEOPLE WE SERVE, THEIR TRADITIONS, AND THEIR PREFERENCES, (SEE SCHEDULE O)2. PROVIDING EXCELLENT LEADING EDGE CARE AND SERVICES, 3. INVESTING IN OUR EMPLOYEES, AND 4. SERVING OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $14,733,450 Revenue: $18,167,539

NURSING & REHABILITATION SERVICES - THE ORGANIZATION'S MISSION IS TO PROVIDE INDIVIDUALIZED NURSING AND REHABILITATION CARE THAT REFLECTS ASIAN CULTURAL VALUES THROUGH THE OPERATION OF A 141-BED...

NURSING & REHABILITATION SERVICES - THE ORGANIZATION'S MISSION IS TO PROVIDE INDIVIDUALIZED NURSING AND REHABILITATION CARE THAT REFLECTS ASIAN CULTURAL VALUES THROUGH THE OPERATION OF A 141-BED LONG-TERM CARE FACILITY IN QUINCY, MASSACHUSETTS.

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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 $63,312

Program Service Revenue $18,151,094

Investment Income $9,150

Other Revenue $32,626

TOTAL REVENUE $18,256,182

Expense Breakdown

Grants Paid $1,500

Salaries & Benefits $11,695,203

Fundraising Expenses $2,126

Program Expenses $14,733,450

Other Expenses $5,261,336

TOTAL EXPENSES $16,958,039

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,256,182	$17,244,849	+0.1%
Expenses	$16,958,039	$16,132,291	+0.1%
Net Income	$1,298,143	$1,112,558	+0.2%

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

Employees

222

Volunteers

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

$472,154

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON QU	CHAIRMAN OF THE BOARD	2.00	Officer Director	$0	$0	$0
MAY CHIN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
CINDY LAW	TREASURER	2.00	Officer Director	$0	$0	$0
HEMMIE CHANG	CLERK	2.00	Officer Director	$0	$0	$0
MARIANNE BOWLER HONORABLE	DIRECTOR	2.00	Director	$0	$0	$0
ALICE ROSE RN	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS CHIN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID TING	DIRECTOR	2.00	Director	$0	$0	$0
LEONARD LAI MD	DIRECTOR	2.00	Director	$0	$0	$0
STANLEY ELKERTON	DIRECTOR	2.00	Director	$0	$0	$0
HELEN CHIN SCHLICHTE	DIRECTOR	2.00	Director	$0	$0	$0
HON HOI YEE	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN LUO CFA	DIRECTOR	2.00	Director	$0	$0	$0
EDWARD CHENG ESQ	DIRECTOR	2.00	Director	$0	$0	$0
LISA MUI	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER O'SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD LUI	DIRECTOR	2.00	Director	$0	$0	$0
ERIC SCHLICHTE	DIRECTOR	2.00	Director	$0	$0	$0
JIM HSU	DIRECTOR	2.00	Director	$0	$0	$0
DAVID CHIU MD	DIRECTOR	2.00	Director	$0	$0	$0
OLIVIA WONG	DIRECTOR	2.00	Director	$0	$0	$0
PHILIP CHENG AG	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM GRAVES	PRESIDENT/CEO	41.00	Officer	$290,477	$11,974	$302,451
SCOTT HANSON	DIRECTOR OF FINANCE	41.00	Officer	$165,417	$4,286	$169,703
LI CHEN	ADMINISTRATOR	40.00	Highest	$183,383	$21,317	$204,700
MICHAEL O'BRIEN	DON	40.00	Highest	$169,922	$8,692	$178,614
MARY LOU FALLETTI	LPN	40.00	Highest	$154,906	$8,894	$163,800
SUNNY LAW	RN	40.00	Highest	$128,092	$8,152	$136,244
ELAINE CHI	SDC NURSE	40.00	Highest	$117,405	$12,473	$129,878

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	No data	No data	No data	No data
2023	$18,256,182	$16,958,039	$33,945,046	$1,298,143
2022	$17,244,849	$16,132,291	$31,184,018	$1,112,558
2021	$16,654,815	$15,760,559	$32,159,189	$894,256
2020	$17,497,174	$16,156,472	$33,957,860	$1,340,702
2019	$15,722,129	$15,279,343	$32,742,399	$442,786
2018	$15,634,539	$15,502,053	$24,740,886	$132,486

SOUTH COVE MANOR AT QUINCY POINT REHABILITATION CENTER INC