Carolina Seniorcare
- Assets
- $10.2m
- Revenue
- $16.9m
- Investments
- $0.0
- Employees
- 112
- Location
- Newton, NC
- Founding
- 04/2012
- Data as of
- 09/2023
- EIN
- 27-4450562
Organization Overview
Carolina Seniorcare is located in Newton, NC. The organization was established in 2012. According to its NTEE Classification (E50) the organization is classified as: Rehabilitative Care, under the broad grouping of Health Care and related organizations. As of 09/2023, Carolina Seniorcare employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Seniorcare 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 09/2023, Carolina Seniorcare generated $16.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $16.9m during the year ending 09/2023. While expenses have increased by 3.1% 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
A CHRISTIAN MINISTRY PROVIDING VIBRANT LIVING, DIVERSE EDUCATION PROGRAMS OF OUTREACH AND COMPASSIONATE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAROLINA SENIORCARE IS A NOT-FOR-PROFIT PROVIDER OF PACE SERVICES UNDER THE SPONSORSHIP OF EVERYAGE. CAROLINA SENIORCARE SERVES INDIVIDUALS WHO ARE AGE 55 OR OLDER, CERTIFIED BY THEIR STATE TO NEED NURSING HOME CARE, ARE ABLE TO LIVE SAFELY IN THE COMMUNITY AT THE TIME OF ENROLLMENT, LIVE IN DAVIDSON, ROWAN, DAVIE, OR IREDELL COUNTIES AND EITHER HAVE MEDICARE OR MEDICAID. THE PROGRAM IS ABLE TO PROVIDE THE ENTIRE CONTINUUM OF CARE AND SERVICES TO SENIORS WITH CHRONIC CARE NEEDS WHILE MAINTAINING THEIR INDEPENDENCE IN THEIR HOMES FOR AS LONG AS POSSIBLE. PACE FUNDING IS UNIQUE AS PACE RECEIVES DIRECT PAYMENTS FROM MEDICARE AND MEDICAID TO PROVIDE ALL NEEDED SERVICES. BECAUSE OF THE POOLED FINANCING OF PACE, PROGRAMS HAVE STRONG INCENTIVES TO FOCUS ON WELLNESS AND PREVENTION AND TO DECREASE THE HOSPITALIZATION RATES FOR THE PARTICIPANTS AND THE INCIDENCE OF LONG-TERM INSTITUTIONALIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julius Abernethy Board Member | Trustee | 0.2 | $0 |
Gregory Alcorn Secretary | OfficerTrustee | 0.2 | $0 |
Larry Bolick Board Member | Trustee | 0.2 | $0 |
Anthony Branch Board Member | Trustee | 0.2 | $0 |
Terri Fisher Board Member | Trustee | 0.2 | $0 |
Jeff Gilliam Board Member | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southern Pharmacy Services Pharmacy | 9/29/23 | $2,736,370 |
Piedmont Crossing Skilled Nursing/assisted Living Care | 9/29/23 | $1,371,428 |
Lexington Medical Center Health Services/claims | 9/29/23 | $593,676 |
Accordius Health At Lexington Skilled Nursing/assisted Living Care | 9/29/23 | $455,195 |
Novant Health Thomasville Health Services/claims | 9/29/23 | $211,832 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,174 |
| Total Program Service Revenue | $17,216,832 |
| Investment income | $89,658 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$420,644 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,887,754 |
| 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. | $225,111 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,818,763 |
| Pension plan accruals and contributions | $141,050 |
| Other employee benefits | $400,225 |
| Payroll taxes | $288,639 |
| Fees for services: Management | $1,119,333 |
| Fees for services: Legal | $185 |
| Fees for services: Accounting | $1,026 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,037 |
| Fees for services: Other | $6,486,058 |
| Advertising and promotion | $27,178 |
| Office expenses | $71,550 |
| Information technology | $209,144 |
| Royalties | $0 |
| Occupancy | $454,992 |
| Travel | $69,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $210 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,185 |
| Insurance | $98,278 |
| All other expenses | $22,682 |
| Total functional expenses | $16,907,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $718,610 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $462,775 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,005 |
| Prepaid expenses and deferred charges | $69,398 |
| Net Land, buildings, and equipment | $1,361,770 |
| Investments—publicly traded securities | $7,593,734 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,212,292 |
| Accounts payable and accrued expenses | $2,493,967 |
| Grants payable | $0 |
| Deferred revenue | $586,097 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $476,626 |
| Total liabilities | $3,556,690 |
| Net assets without donor restrictions | $6,655,602 |
| Net assets with donor restrictions | $0 |
| 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 | $10,212,292 |