Buttonwood Healthcare Inc

Nonprofit profile at a glance

EIN
850629884
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Rowley, MA, USA
Phone
9789487383
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Reported finances

Revenue
$192,131
Expenses
$6,035
Assets
$9,318,470
Liabilities
$7,575,730

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • FRANK ROMANO (PRESIDENT/TREASURER)

People named in this filing

  • FRANK ROMANO (PRESIDENT/TREASURER)
  • SCOTT PICONE (DIRECTOR)
  • ELAINE TETRAULT (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Since the onset of the covid-19 pandemic in Massachusetts, buttonwood healthcare, inc. Has worked in conjunction with the commonwealth of Massachusetts, the city of new bedford, and area nonprofit hospitals and medical group practices to open two previously closed nursing facilities as dedicated covid-19 facilities and to provide nursing home care and services to individuals recovering from covid-19 at the facilities. It is the goal of the company to admit any such individuals regardless of ability to pay and to provide nursing care and services for the duration of the pandemic and until the last covid-19 resident is safely discharged from its facilities. Buttonwood healthcare, inc. Expanded its mission and charitable purpose to the provision of skilled nursing, adult day health, transportation, homecare, and assisted living to communities in need throughout ma.

What it reported doing in 2024

The provision of skilled nursing, adult day health, transportation, homecare, and assisted living to communities throughout Massachusetts.

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 85
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 96.9%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,544.07; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -102.7% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: -86.6% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.