Legacy Healthcare Services Inc
- Assets
- $128.0m
- Revenue
- $131.0m
- Investments
- $0.0
- Employees
- 3,025
- Location
- Raleigh, NC
- Founding
- 10/2019
- Data as of
- 12/2022
- EIN
- 31-1679605
Organization Overview
Legacy Healthcare Services Inc is located in Raleigh, NC. The organization was established in 2019. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. As of 12/2022, Legacy Healthcare Services Inc employed 3,025 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Healthcare Services 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 12/2022, Legacy Healthcare Services Inc generated $131.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $119.4m during the year ending 12/2022. While expenses have increased by 19.9% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE HEALTH OF SENIOR ADULTS SO THEY MAY LIVE LIFE THE WAY THEY WANT TO LIVE IT THROUGH: WELLNESS, EDUCATION, SAFETY, REHABILITATION, CARING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGACY HEALTHCARE SERVICES PROVIDES PHYSICAL THERAPY, OCCUPATIONAL THERAPY, SPEECH LANGUAGE PATHOLOGY, AND WELLNESS SERVICES TO THE GERIATRIC POPULATION IN ASSISTED LIVING, INDEPENDENT LIVING, CONTINUING CARE RETIREMENT, AND MEMORY CARE COMMUNITIES ACROSS THE UNITED STATES. LEGACY'S CORPORATE OFFICE IS LOCATED IN RALEIGH, NORTH CAROLINA. THE COMPANY ALSO PROVIDES SERVICES AT SKILLED NURSING FACILITIES AND IN NUMEROUS MEDICARE-CERTIFIED OUT-PATIENT CLINICS UNDER CONTRACT ARRANGEMENT. LEGACY'S THERAPEUTIC TECHNIQUES AND PROGRAMS INCORPORATE PRINCIPLES OF REHABILITATION AND HEALTHY AGING WHILE EMPHASIZING HOME AND COMMUNITY INDEPENDENCE. THE SERVICES PROVIDED ARE BOTH REHABILITATIVE AND PREVENTATIVE WITH A STRONG COMPONENT OF HEALTH AND FITNESS EDUCATION. LEGACY ALSO OFFERS A VARIETY OF CLINICAL PROGRAMS AIMED AT ENSURING THAT THE SENIORS THAT ARE SERVED ARE PROVIDED WITH EVERY OPPORTUNITY TO LIVE THEIR BEST LIFE. LEGACY'S MODEL INCORPORATES THE CONCEPT THAT AN ON-SITE THERAPY CLINIC BASED IN ASSISTED AND INDEPENDENT LIVING COMMUNITIES WILL BENEFIT THE RESIDENTS OF THOSE COMMUNITIES. BY CREATING AN ENVIRONMENT OF FAMILIARITY AND TRUST, THE COMPANY'S THERAPISTS ARE WELL-POSITIONED TO IDENTIFY SUBTLE CHANGES IN INDEPENDENCE. LEFT UNADDRESSED, THESE CHANGES MAY BE THE TIPPING POINT FOR REDUCED MOBILITY, ADVANCING ISOLATION, AND PREMATURE AGING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Ryan CEO | OfficerTrustee | 40 | $375,386 |
John Murta Board Member | Trustee | 2 | $0 |
Gil Wilson CFO And Treasurer | OfficerTrustee | 40 | $304,206 |
Geoff Windley Senior VP Of Business Development | Officer | 40 | $265,580 |
Melissa Hale COO | Officer | 40 | $263,696 |
Jeff Fink Senior VP Of Hr And Administration | Officer | 40 | $248,837 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advantix Telecommunication Vendor Management | 12/30/22 | $757,015 |
Net Health Systems Inc Software Provider | 12/30/22 | $735,245 |
Alinea Group Inc Software Provider | 12/30/22 | $390,684 |
Artcraft Promotional Concepts Marketing Material | 12/30/22 | $206,442 |
Roth Staffing Companies Lp Contract Staffing | 12/30/22 | $287,832 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $131,000,981 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $131,000,981 |
| 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. | $1,680,094 |
| Compensation of current officers, directors, key employees. | $1,680,094 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,999,804 |
| Pension plan accruals and contributions | $36,466 |
| Other employee benefits | $4,360,361 |
| Payroll taxes | $7,159,270 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $122,791 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $330,890 |
| Advertising and promotion | $247,589 |
| Office expenses | $1,581,687 |
| Information technology | $1,912,482 |
| Royalties | $0 |
| Occupancy | $4,231,481 |
| Travel | $912,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $301,337 |
| Interest | -$488,690 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,032,678 |
| Insurance | $293,127 |
| All other expenses | $439,840 |
| Total functional expenses | $119,373,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,710,901 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,565,344 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $199,804 |
| Net Land, buildings, and equipment | $265,447 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $98,321,582 |
| Other assets | $1,907,916 |
| Total assets | $127,970,994 |
| Accounts payable and accrued expenses | $9,552,781 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $493,390 |
| Total liabilities | $10,046,171 |
| Net assets without donor restrictions | $0 |
| 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 | $117,924,823 |
| Total liabilities and net assets/fund balances | $127,970,994 |