2013-08-14T07:58:27-07:00 2012-09-30 990 2011-10-01 237425849 East Boston Neighborhood Health Center Corporation and Affiliate EAST 6175684570 10 Gove Street East Boston MA 02128 John P Cradock 2013-08-14 2011 2016-02-25 16:41:14Z John P Cradock 10 Gove Street East Boston MA 02128 94034937 false false X www.ebnhc.org X 1974 MA The Health Center's mission is to provide easily accessible, affordable, appropriate, high-quality, personalized, coordinated primary care, for all who live and work in East Boston and the surrounding communities, without regard to age, income, insurance status, language, culture, or social circumstances 10 10 967 153 0 23429796 15851425 71336791 75007549 -20918 137175 4269276 3037988 99014945 94034137 0 0 55257577 59176888 0 0 35012523 34676675 90270100 93853563 8744845 180574 43390578 72102982 23839181 52609868 19551397 19493114 The Health Center's mission is to provide easily accessible, affordable, appropriate, high-quality, personalized, coordinated primary care, for all who live and work in East Boston and the surrounding communities, without regard to age, income, insurance status, language, culture, or social circumstances false false 44325544 41936788 In Fiscal Year 2012 the East Boston Neighborhood Health Center Corp.continued it's mission to provide easily accessible, personalized, high quality,affordable care that is sensitive to the needs of each individual who lives or works in the East Boston Community regardless of the ability to pay.The Center had 263 thousand patient visits during the year ending September 30,2012. 23112485 26555002 The Elder Services division which includes the Elder Service Program ("ESP"),Senior Care Options,("SCO"), and the Long Term Care Pharmacy,continued to provide all inclusive care for the elderly during the year, the organization provided direct care of just under 4,100 member months for its ESP particpants and over 4,900 member months for its SCO participants for the period ending September 30,2012. The Long Term Care Pharmacy provided over 92,000 prescriptions to members of both the ESP and SCO members in FY2012 as well. 5677827 6515759 The Retail Pharmacy provides onsite prescription medication exclusive to health center patients only. During the period ending September 30, 2012, the organization filled in excess of 304 thousand prescriptions for its patients. 73115856 true true false true false true false false false false true false false true true true true false false false false false false false false false false false false true true false true false false false true false false false false false false false false true true false false false false true 40 0 true 967 true false false false false false false false false false false false 0 false false false false false false false false false false false X 10 10 false false false false false false false true true false false false true true true true true true true true false false X X John P Cradock 6175684570 10 Gove Street East Boston MA 02128 Officer Daniel Simon 2.00 X 0 0 0 Frank M Ramirez 2.00 X 0 0 0 Doris Virginia Rubio 2.00 X 0 0 0 Nancy M Christoff 2.00 X 0 0 0 Ann Burridge 2.00 X 0 0 0 Jennifer C Blanco 2.00 X 0 0 0 Rosa Dominguez 2.00 X 0 0 0 Jean Staopolli 2.00 X 0 0 0 Sandra Caggiano 2.00 X 0 0 0 Rita Sorrento 2.00 X 0 0 0 Timothy Rogers 40.00 X 247044 0 22890 Dr James Taylor 40.00 X 485436 0 23454 John P Cradock 40.00 X 641729 0 23454 Mari Bentley 40.00 X 226946 0 22829 Manuel Lopes 40.00 X 273718 0 23219 Dr Jeffrey Shapiro 40.00 X 264657 0 23092 Dr James Suel 40.00 X 232342 0 14999 Dr James Pedulla 40.00 X 210661 0 23092 Edgar Torres 40.00 X 209437 0 22650 Dr Catherine Silva 40.00 X 203539 0 8726 2995509 208405 10 false true false McGarr Services PO Box 670139 Chesnut Hill MA 02467 Cleaning Services 668559 Longwood Security Two Brookline Place Brookline MA 02467 Security Services 606853 Epic Systems 1779 Milky Way Milwuakee WI 53288 Technical Support 771581 Eaton Apothecary Offices PO Box 6880 Holliston MA 01746 Pharmacy Services 3157810 CedarCrestone PO Box 402521 Atlanta GA 30384 IT Consultants 331552 19 14325683 1525742 15851425 Retail Pharmacy Revenue 446110 6515759 6515759 Health Center NPSR 621400 41936788 41936788 ESP Revenue 621610 26555002 26555002 75007549 136788 136788 0 0 0 1187 800 387 387 387 0 0 0 Rental Income 623000 341518 341518 Other Program Support 621400 2623355 2623355 Equity in Srurgess Street 623000 63717 63717 9398 9398 3037988 94034137 78045537 137175 0 0 0 0 1663685 48906 1614779 0 45540137 38058013 7482124 898758 733948 164810 8044190 6372297 1671893 3030118 2206318 823800 0 282381 6523 275858 127027 127027 0 0 0 0 14132 1689 12443 408984 308646 100338 0 0 5965023 2852802 3112221 133903 34958 98945 0 0 306885 5626 301259 0 2804937 741403 2063534 547860 266195 281665 Consultants 2682176 1563223 1118954 Contract/Temp Service 5133447 5099595 33852 Institutional Expenses 5161500 5161500 Medical Expenses 7426635 7411953 14681 3681785 2242261 1439524 93853563 73115856 20737707 0 6233459 5707450 0 1656119 412878 7002218 6884878 0 0 0 668670 678145 1248483 1458542 56716479 20036602 24322018 36679877 0 0 0 0 2259611 20281212 43390578 72102982 14414036 12598716 334286 5884000 15701608 2360534 1180611 23975258 23839181 52609868 X 18801717 18982299 749680 510815 19551397 19493114 43390578 72102982 180574 X true true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 45000 true 12305 false 57305 false false 500000 10135 false false 3133311 3133311 17314674 867777 16446897 15694697 9972452 5722245 13989739 8470052 5519687 6584058 726321 5857737 36679877 Sturgis Street Investment 162016 Sturgis Street Equity Receivable 212613 Rounding 2 Fixed Assets Deposit 6250 ESP Cash Reserve 110376 East Boston Temp Restricted 510815 Due from Temp Restricted Deferred Financing Costs 1678565 CSR Life Insurance 999783 20281212 QLICI Loan-USB 6000000 QLICI Loan-UA 2 1600000 QLICI Loan-UA 1 4400000 QLICI Loan-MHIC 4850000 QLICI Loan-A1 5526000 Post Retirement Benefit 280000 Interest Rate Swap 999316 General Reserve 319942 23975258 94034137 93853563 180574 180574 94034137 94034137 94034137 93853563 93853563 93853563 Part X Part X : FIN48 Footnote The Center is incorporated under Section 501(c)(3) of the Internal Revenue Code(the "Code") and, accordingly, is exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. The Center is classified as a public charity. In accordance with generally accepted accounting principles, the Center annually evaluates its tax status and tax positions taken with respect to its operations and financial position.Tax years from 2006 through the current year remain open for examination by Federal and state authorities. X X X X X false false false false false false false false false false Timothy Rogers 247044 6286 16604 269934 Mari Bentley 226946 6370 16459 249775 Manuel Lopes 273718 6370 16849 296937 John P Cradock 372438 65000 204291 6370 17084 665183 Edgar Torres 209437 6370 16280 232087 Dr Jeffrey Shapiro 264657 6370 16722 287749 Dr James Taylor 318470 166966 6370 17084 508890 Dr James Suel 232342 6370 8629 247341 Dr James Pedulla 210661 6370 16722 233753 Dr Catherine Silva 203539 6370 2356 212265 Massachusetts Development 043431814 2012-09-12 10400000 Attached Note false false Massachusetts Development Finance Agency 043431814 2006-02-01 7564000 Attached Note true false 10400000 10400000 10400000 2012 false true true true 7564000 7564000 164761 7564000 false false true true false false false false false false false false true true false false false false true true false false false false X John P Cradock X 208110 108869 false true true 108869 Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The organization prepares the Form 990 and the related disclosures with assistance and guidance from it's individual tax advisors (CPA firm).The Form 990 is reviewed by the organizations' management team prior to submission to the board of directors and the IRS.The Form 990 is also available on the Massachusetts office of the Attorney General's website. Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees All compensation for the CEO and senior executives are governed and overseen by the Board of Directors. The Board established a Compensation Committee, made up of disinterested trustees, who are given the authority to establish compensation for all senior executives. The Compensation Committee performs annual reviews and approves executive compensation. In order to assist the Committee in its responsibilities, the Compensation Committee hires independent, outside compensation consultants to advise the committee on the reasonableness of the overall executive compensation. The Committee works with these consultants to ensure that all compensation is reasonable, meets all regulatory requirements, and is competitive within the relevant market. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization requires that employees, members and officers of the board of directors and any member of any committee disclose in writing (and update annually) all business and other relationships which might potentially create a conflict of interest as defined by the policy. The written disclosure shall include an itemization of any substantive conflict of interest for such individual by virtue of his or her activities. The conflict of interest policy is reviewed and communicated to ensure individuals with outside relationships do not inappropriately participate in business decisions of the Organization in which they are not independent Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process A copy of the Form 990 is made available to it's governing body for review prior to submission to the Internal Revenue Service through a web site portal. Client Note 1 - In September 2012, the Center entered into an agreement with the Massachusetts Development Finance Agency ("MDFA") to issue $10,400,000 of MDFA Series 2012 Revenue Bonds ("Series 2012 Bonds"), East Boston Neighborhood Health Center Issue, Series 2012 that will mature on September 1,2037.The bonds were issued to in order to finance the construction of a new health center building.Under the terms of a loan and trust agreement (the "Agreement") between the Center, MDFA and TD Banknorth, as trustee, the Center is required to make monthly payments to the trustee in amounts sufficient to pay the scheduled principal and interest requirements of the Series 2012 Bonds through maturity on September 1, 2037. The annual interest rate on the outstanding Series 2012 Bonds is 2.4%. Collateral for the Series 2012 Bonds consists of the Center's accounts receivable. The Agreement also contains various financial and reporting covenants.The Bond payable balance as of September 30, 2012 is $10,106,608.00The Center loaned the proceeds of its new bonds to East Boston Neighborhood Health Center Fund, LLC.("Investment Fund").The Investment Fund then invested in the Qualified Low Income Community Investments CDE #1-#5, LLC("CDE".The CDE used the investment to provide the financing to TMS in five separate loans, totaling $22,376,000 for the construction of the new health center.In February of 2006, the Center entered into an agreement with the Massachusetts Development Finance Agency ("MDFA") to issue $7.564,000 of MDFA Series 1996 Revenue Bonds ("Series 2006 Bonds"), East Boston Neighborhood Health Center Issue, Series 2006 that will mature on July 1, 2026.The bonds were issued to advance refund the Center's outstanding MIFA Series 1996 Revenue Bonds. Under the terms of a loan and trust agreement (the "Agreement") between the Center, MDFA and TD Banknorth, as trustee, the Center is required to make monthly payments to the trustee in amounts sufficient to pay the scheduled principal and interest requirements of the Series 2006 Bonds through maturity on July 1, 2026. The annual interest rate on the outstanding Series 2006 Bond is the LIBOR rate times sixty nine percent (69%)plus one and two hundred seventy-eight thousand percent(1.278%). The interest rate was one and forty-five hundreds percent (1.45%) at September 30, 2012 and 2011. Collateral for the Series 2006 Bonds consists of the Center's accounts receivable. The Agreement also contains various financial and reporting covenants.Concurrent with the Center's loan and trust agreement, the Center entered into a fifteen (15) year interest rate swap agreement (the "Swap") with TD Bank effectively modifying the interest rate under the variable rate instrument to a fixed rate in order to avoid the risk of rising interest rates and to make their borrowing costs more predictable.The interest rate swap,is designed as a cash flow hedge and the activity is reported in other changes changes in net assets.The notional amount is $6,448,600 with a maturity date of February 1, 2021. The fixed rate is $4.825% and the floating rate is 1.437%.Interest expense is recorded at the fixed rate. The swap is outstanding through February 1, 2021, while the debt is outstanding until 2026.The interest rate swap was recorded at fair value as a liability of $999,316 and $969,608 as of September 30,2012 and 2011 respectively.The Bond payable balance as of September 30, 2012 is $5,595,000.00. Twenty Maverick Square Corp 10 Gove Street East Boston MA 02128 272299376 Health Center MA 25822748 N/A Twenty-Six Sturgis Street Corp 26 Sturgis Street Winthrop MA 02152 Elderly Housing MA 501(C)3 9 N/A false true false false false false false false false false false false false false false false false false true Twenty-Six Sturgis Street Corp r 25293