Somerville-cambridge Elder Services Incorporated
Nonprofit profile at a glance
- EIN
- 042515020
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Somerville, MA, USA
- Phone
- 6176282601
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $44,675,451
- Expenses
- $45,060,818
- Assets
- $28,609,498
- Liabilities
- $10,932,760
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- MARTA CORVELO (PRESIDENT AND CEO)
Highest reported compensation
- MARTA CORVELO (PRESIDENT AND CEO): $261,615 total reported compensation
- DONNA VASKELIS (CFO (UNTIL 2/2025)): $202,992 total reported compensation
- ANNE L FOWLER (CHIEF CLINICAL INTEGRATION OFFICER): $174,776 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Somerville-cambridge elder services is a non-profit agency that provides information, services, and advocacy to help older adults live independently in the setting of their choice. Established in 1972 as part of a national movement toward providing community-based services and supports for older adults, our mission is focused on helping people age in place, regardless of income level. We help thousands of older adults, caregivers, and people with disabilities in our service communities, often working with them in their homes to assess needs and coordinate assistance.
What it reported doing in 2024
The home care program provided services in fy2025 to 13,347 older residents of cambridge and somerville who need assistance so they may continue to live independently and safely at home. Depending on income and eligibility, services may be state-subsidized. The program is funded primarily by state contracts.
Operating model
- Revenue model
- Grant-funded. 64% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 94
- Transparency & Controls: 83
- Accountability: 100
- Sustainability: 32
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94.7%; rating input score 95
- Program expense ratio: 93.7%; rating input score 94
- Fundraising efficiency: $127.86 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.9%; rating input score 27; 27th percentile among comparable filings
- Total-asset coverage ratio: 0.63; rating input score 21; 21st percentile among comparable filings
- Liabilities to assets ratio: 0.38; rating input score 38; 38th percentile among comparable filings
- Officer compensation ratio: 2.7%; rating input score 70; 70th percentile among comparable filings
Growth
- Program expense growth: 3% per year; rating input score 100; 26th percentile among comparable filings
- Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: 8% per year; rating input score 100; 55th percentile among comparable filings
Details
- Where the money goes: 94.7% of revenue deployed · 93.7% of spending went to programs
- Governance: 13 of 13 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $42.2M in reported program spending
- Leadership: top reported pay $262K · 26 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $15.8M reported
- Consistency: 33 of 33 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 4 filed related-organization links
- 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 — Sustainability: Operating margin scored 27/100.
- High — Sustainability: Total-asset coverage ratio scored 21/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 38/100.