Carolina Village Inc
- Assets
- $129.1m
- Revenue
- $33.5m
- Investments
- $0.0
- Employees
- 449
- Location
- Hendersonville, NC
- Founding
- 09/1975
- Data as of
- 03/2023
- EIN
- 23-7179679
Organization Overview
Carolina Village Inc is located in Hendersonville, NC. The organization was established in 1975. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 03/2023, Carolina Village Inc employed 449 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Village Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Carolina Village Inc generated $33.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $31.4m during the year ending 03/2023. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN AND OPERATE A RETIREMENT HOME, MEDICAL CENTER, AND ASSISTED LIVING CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR STATEMENT OF ACCOMPLISHMENTS:CAROLINA VILLAGE SERVES 530 RESIDENTS IN DIRECT HEALTH CARE NEEDS, MEALS, HOUSING, AND TRANSPORTATION. IN THE PAST YEAR WE HAVE SERVED 34,883 DAYS OF DIRECT PATIENT CARE IN OUR ASSISTED LIVING AND SKILLED NURSING CARE FACILITIES. ON OUR CAMPUS WE PROVIDE MEDICARE SERVICES INCLUDING BUT NOT LIMITED TO PHYSICAL THERAPY, OCCUPATIONAL THERAPY, AND SPEECH THERAPY. OUR RESIDENTS RECEIVE BENEFITS FROM OUR COMPREHENSIVE WELLNESS PROGRAM ORGANIZED AND COORDINATED BY A FACILITY STAFF MEMBER. THE WELLNESS PROGRAM INCLUDES EIGHT FACETS OF WELLNESS-PHYSICAL, SPIRITUAL, ENVIRONMENTAL, SOCIAL, VOCATIONAL, INTELLECTUAL, EMOTIONAL, AND NUTRITIONAL. WE MAINTAIN THE CAROLINA VILLAGE HUB WHICH IS A REAL TIME INFORMATION PORTAL FOR RESIDENTS AND EMPLOYEES TO RECEIVE UP TO THE MINUTE INFORMATION ABOUT CAROLINA VILLAGE. THE CV HUB IS EASILY ACCESSIBLE FROM ANY COMPUTER OR MOBILE DEVICE. THROUGH OUR QUALITY FIRST PROGRAM WE HAVE GIVEN BACK TO THE COMMUNITY THROUGH FOOD DRIVES, SCHOOL SUPPLY DRIVES, BENEFIT DINNERS, AND OTHER MONETARY GIFTS. WE HAVE PARTNERED WITH THE HENDERSON COUNTY COUNCIL ON AGING, SPECIAL OLYMPICS, MANNA FOOD BANK, UNITED WAY, AND OTHER LOCAL NON-PROFIT ORGANIZATIONS. CAROLINA VILLAGE PROVIDES 40 MEALS PER DAY, 5 DAYS A WEEK TO THE LOCAL CONGREGATE MEAL SITE IN ASSOCIATION WITH THE HENDERSON COUNTY MEALS-ON-WHEELS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trina Strokes President | OfficerTrustee | 3 | $0 |
Mark Morse Vice-President | OfficerTrustee | 1.5 | $0 |
Terry Andersen Treasurer | OfficerTrustee | 1.5 | $0 |
Adam Shealy Secretary | OfficerTrustee | 1.5 | $0 |
Justin Ward Assistant Secretary | OfficerTrustee | 1.5 | $0 |
Kenneth Youngblood Board Member | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Frank Blum Construction Construction/remodeling | 3/30/23 | $3,605,948 |
Lytle Construction Services Construction/remodeling | 3/30/23 | $1,836,286 |
Tp Howard Construction/remodeling/plumbing | 3/30/23 | $483,419 |
Select Rehab Rehabilitation Services | 3/30/23 | $433,001 |
New Living Landscape Landscaping | 3/30/23 | $294,233 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,756,165 |
| All other contributions, gifts, grants, and similar amounts not included above | $79,397 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,835,562 |
| Total Program Service Revenue | $31,315,872 |
| Investment income | $11,879 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $71,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,459,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $625,754 |
| Compensation of current officers, directors, key employees. | $625,754 |
| Compensation to disqualified persons | $60,914 |
| Other salaries and wages | $12,436,109 |
| Pension plan accruals and contributions | $232,855 |
| Other employee benefits | $2,896,984 |
| Payroll taxes | $954,502 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,692 |
| Fees for services: Accounting | $126,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $355,467 |
| Advertising and promotion | $213,543 |
| Office expenses | $1,756,319 |
| Information technology | $98,183 |
| Royalties | $0 |
| Occupancy | $2,517,148 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $108,758 |
| Interest | $2,032,858 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,070,362 |
| Insurance | $0 |
| All other expenses | $108,598 |
| Total functional expenses | $31,362,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,370,170 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,485,998 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $126,688 |
| Prepaid expenses and deferred charges | $285,625 |
| Net Land, buildings, and equipment | $101,293,644 |
| Investments—publicly traded securities | $18,521,529 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $129,083,654 |
| Accounts payable and accrued expenses | $3,672,355 |
| Grants payable | $0 |
| Deferred revenue | $63,725,793 |
| Tax-exempt bond liabilities | $49,965,221 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,045,785 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $124,409,154 |
| Net assets without donor restrictions | $2,969,415 |
| Net assets with donor restrictions | $1,705,085 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $129,083,654 |