Advanced Home Care Inc
- Assets
- $49.7m
- Revenue
- $9.1m
- Investments
- $36.0k
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/1994
- Data as of
- 09/2021
- EIN
- 56-1844651
Organization Overview
Advanced Home Care Inc is located in Charlotte, NC. The organization was established in 1994. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advanced Home Care 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 09/2021, Advanced Home Care Inc generated $9.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (36.1%) each year. All expenses for the organization totaled $2.9m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (47.0%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
HOME HEALTH CARE SERVICES TO THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANCED HOME CARE CEASED OPERATIONS IN FEBRUARY 2020. FINANCIAL INFORMATION PROVIDED IS WIND DOWN ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geoff Gardner Board Chair | Trustee | 1 | $0 |
Andy Barrow Member | Trustee | 1 | $0 |
Dr Robert Barnabei Member | Trustee | 1 | $0 |
Tonya Brown Member | Trustee | 1 | $0 |
Will Bryant Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Courier Express Courier Services | 9/29/20 | $1,287,167 |
Cornerstone Therapy Services Staffing Home Health Services | 9/29/20 | $1,287,167 |
Womble Bond Dickinson (Us) Llp Legal | 9/29/20 | $924,045 |
Ceprint Solutions Inc Printing | 9/29/20 | $213,264 |
Total Triage Patient Call Center | 9/29/20 | $205,977 |
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 | $0 |
| Investment income | $183,875 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,433,895 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,074,122 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | -$832,981 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $193,297 |
| Fees for services: Legal | $10,855 |
| Fees for services: Accounting | $193,213 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,000 |
| Advertising and promotion | $0 |
| Office expenses | $2,669 |
| Information technology | $891,727 |
| Royalties | $0 |
| Occupancy | $195,245 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,524 |
| Insurance | $149,714 |
| All other expenses | $0 |
| Total functional expenses | $2,864,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,904,004 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $215,887 |
| 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 | $224,568 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $36,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,310,835 |
| Total assets | $49,691,294 |
| Accounts payable and accrued expenses | $20,831 |
| 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 | $20,925,305 |
| Total liabilities | $20,946,136 |
| Net assets without donor restrictions | $28,745,158 |
| 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 | $49,691,294 |
Grants Awarded
Over the last fiscal year, Advanced Home Care Inc has awarded $96,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Winchester, VA PURPOSE: GENERAL SUPPORT | $35,500 |
Johnson City, TN PURPOSE: GENERAL SUPPORT | $35,500 |
Marietta, GA PURPOSE: GENERAL SUPPORT | $25,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mvle Inc Springfield, VA | $9,312,046 | $13,677,162 |
Potomac Institute For Policy Studies Arlington, VA | $5,742,038 | $10,808,828 |
The Daily Planet Inc Richmond, VA | $12,184,739 | $13,097,113 |
National Association Of Landscape Professionals Inc Fairfax, VA | $7,212,406 | $10,869,487 |
Bill Of Rights Institute Arlington, VA | $5,390,472 | $9,362,557 |
Oe Enterprises Incorporated Hillsborough, NC | $3,102,909 | $7,461,058 |
Good Shepherd India Virginia Beach, VA | $1,558,138 | $7,285,527 |
Contemporary Science Center Research Triangle Park, NC | $12,289,489 | $6,780,617 |
St Vincents Home Roanoke, VA | $12,045,312 | $7,784,150 |
Brotherhood Of Maintenance Of Way Employees Hendersonville, TN | $4,697,141 | $6,259,699 |
Foundation For American Freedom Alexandria, VA | $368,633 | $6,195,500 |
Good Shepherd Medication Management Memphis, TN | $2,325,879 | $2,559,042 |