Memorycare is located in Asheville, NC. The organization was established in 2000. According to its NTEE Classification (E32) the organization is classified as: Community Clinics, under the broad grouping of Health Care and related organizations. As of 12/2023, Memorycare employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorycare 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 12/2023, Memorycare generated $3.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. While expenses have increased by 6.7% per year over the past 9 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
MEMORYCARES MISSION IS THREE-FOLD: TO PROVIDE SPECIALIZED MEDICAL CARE TO OLDER ADULTS WITH COGNITIVE IMPAIRMENT; TO SUPPORT CAREGIVERS WITH EDUCATION, COUNSELING AND...(SEE ENTIRE MISSION STATEMENT ON PAGE 2)
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORYCARE WAS ESTABLISHED AS A COMMUNITY-BASED, CHARITABLE NON-PROFIT ORGANIZATION TO ADDRESS THE NEED FOR INTEGRATED CARE FOR PEOPLE WITH DEMENTIA THAT INCLUDES FAMILIES THROUGHOUT THE PROCESS OF THEIR CARE. NOW IN OUR 24TH YEAR, WE ARE NATIONALLY RECOGNIZED AS PIONEERS IN DEMENTIA CARE, AND REMAIN THE ONLY PROGRAM IN WESTERN CAROLINA THAT INTEGRATES FAMILY SUPPORT AND EDUCATION WITH EXPERT MEDICAL CARE OF ADULTS WITH DEMENTIA.
MEMORYCARE IS AN OUT-PATIENT, CONSULTATIVE PROGRAM WITH THE GOAL THAT FAMILIES IMPACTED BY DEMENTIA HAVE THE BEST POSSIBLE QUALITY OF LIFE. DEMENTIA IS A CHRONIC, PROGRESSIVE ILLNESS THAT CURRENTLY HAS NO CURE. ALL WITH THE DISEASE EVENTUALLY REQUIRE THE HELP OF OTHERS WHO THEMSELVES NEED SUPPORT AND EDUCATION TO MANAGE AS WELL AS POSSIBLE. UTILIZING A MULTIDISCIPLINARY APPROACH, OUR CARE TEAMS PROVIDE DIAGNOSTIC WORK-UP, DISEASE MANAGEMENT PLANNING, TRAINING AND MEDICAL ASSISTANCE TO HANDLE CHALLENGING BEHAVIORS AND SAFETY CONCERNS, AND CAREGIVER EDUCATION, COUNSELING, AND SUPPORT. WE HELP COORDINATE AVAILABLE COMMUNITY RESOURCES, ASSIST LOW-INCOME OLDER ADULTS WITH APPLICATIONS FOR MEDICATION ASSISTANCE, AND COUNSEL INDIVIDUALS/FAMILIES ABOUT END OF LIFE DECISION MAKING. ALL FAMILIES ARE PROVIDED A DETAILED WRITTEN CARE PLAN THAT IS AMENDED AS THE ILLNESS PROGRESSES AND HAVE FULL ACCESS TO OUR RESOURCE LIBRARY AND STAFF FOR EDUCATIONAL MATERIAL.
IN 2023, OUR STAFF PROVIDED COMPREHENSIVE SERVICES TO 1,138 PATIENTS AND 3,462 CAREGIVERS THROUGH OUR CORE CLINICAL PROGRAM. FAMILIES WERE SEEN IN OUR ASHEVILLE OFFICE, OUR RURAL SATELLITE CLINIC IN WAYNESVILLE, AND THROUGH OUR HOME VISIT PROGRAM IN BUNCOMBE AND HAYWOOD COUNTIES. 42% OF CLIENTS WERE LOW INCOME BY FEDERAL POVERTY STANDARDS. WE ARE DEVOTED TO PROVIDING COMMUNITY EDUCATION ABOUT DEMENTIA, CAREGIVING, AND AGING-RELATED HEALTH ISSUES AND TEACH PROFESSIONAL HEALTH CARE STUDENTS AND PROVIDERS ON THESE TOPICS AS WELL. IN 2023, WE FACILITATED 149 PRESENTATIONS AND REACHED 1,582 INDIVIDUALS THROUGH OUR EDUCATIONAL PROGRAMS. OUR MEMORYCAREGIVERS NETWORK CONTINUED TO OFFER FOUR MONTHLY PEER CAREGIVER SUPPORT GROUPS TO ALL CAREGIVERS OF A LOVED ONE WITH DEMENTIA IN THE COMMUNITY. OUR ELECTRONIC NEWSLETTER WITH INFORMATION ABOUT CAREGIVING, RESOURCES, AND LOCAL EVENTS WAS SENT TO 4,467 INDIVIDUALS, AND WE MAINTAIN A RESOURCE LIBRARY FOR THE PUBLIC WITH INFORMATION ABOUT DEMENTIA, DEMENTIA CARE, HEALTHY AGING, AND MORE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Virginia Templeton MD Co-Executive Director | Officer | 60 | $214,714 |
Elizabeth Stavish MD Co-Executive Director | Officer | 50 | $86,574 |
Margaret Noel Morris MD - Ex Offici Founder | 35 | $130,077 | |
Carlton D Johnson MD Employee | 45 | $165,944 | |
Amy Cohen Employee | 40 | $146,260 | |
Della Simon Employee | 40 | $149,474 |
Statement of Revenue | |
---|---|
Federated campaigns | $1,650 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $73,895 |
All other contributions, gifts, grants, and similar amounts not included above | $1,623,811 |
Noncash contributions included in lines 1a–1f | $14,944 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,699,356 |
Total Program Service Revenue | $1,094,170 |
Investment income | $279,133 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $79,303 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,173,181 |
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. | $334,953 |
Compensation of current officers, directors, key employees. | $52,137 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,408,046 |
Pension plan accruals and contributions | $42,752 |
Other employee benefits | $104,644 |
Payroll taxes | $126,078 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $14,550 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $68,606 |
Fees for services: Other | $64,731 |
Advertising and promotion | $0 |
Office expenses | $39,687 |
Information technology | $33,239 |
Royalties | $0 |
Occupancy | $28,592 |
Travel | $2,088 |
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 | $165,581 |
Insurance | $29,454 |
All other expenses | $25,122 |
Total functional expenses | $2,540,724 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $542,633 |
Savings and temporary cash investments | $237,591 |
Pledges and grants receivable | $264,338 |
Accounts receivable, net | $121,560 |
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 | $77,501 |
Net Land, buildings, and equipment | $2,962,973 |
Investments—publicly traded securities | $6,212 |
Investments—other securities | $1,589,321 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $9,887,867 |
Total assets | $15,689,996 |
Accounts payable and accrued expenses | $6,893 |
Grants payable | $0 |
Deferred revenue | $304,078 |
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 | $0 |
Total liabilities | $310,971 |
Net assets without donor restrictions | $15,071,178 |
Net assets with donor restrictions | $307,847 |
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 | $15,689,996 |