Accounting Department

Under the leadership of CFO William F. Grant, Cummings Properties' accounting group consists of 16 people in Woburn and one person stationed at Cummings Center in Beverly, MA.

The department annually processes more than $100 million in rental income from its first-class suburban Boston office space, and, of course, all of the expenses that go along with that, including payroll services for about 310 regular, full-time Cummings employees.

On a pro bono basis, it also administers the accounts of more than 500 seniors, who live in the not-for-profit New Horizons Retirement Communities of Cummings Foundation, Inc., as well as payroll for the 200-plus assisted living staff in Woburn and Marlborough, MA. The department also handles the investments of Cummings Foundation, Inc., the net value of which is approximately One Billion. Financial investments of the Foundation are mostly handled through David Leland of the Cummings Center, Beverly, MA office of Merrill Lynch.

The Company's principal banking relationship is with People's United Bank, which operates branches at both Cummings Center and West Cummings Park in Woburn.