Alamance Extended Care Inc
- Assets
- $54.0m
- Revenue
- $13.6m
- Investments
- $0.0
- Employees
- 201
- Location
- Greensboro, NC
- Founding
- 08/1985
- Data as of
- 12/2023
- EIN
- 58-1681364
Organization Overview
Alamance Extended Care Inc, operating under the name The Village At Brookwood, is located in Greensboro, NC. The organization was established in 1985. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Village At Brookwood employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Village At Brookwood 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, Village At Brookwood generated $13.6m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $16.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A FULL CONTINUUM OF CARE FOR OLDER ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VILLAGE IS A NORTH CAROLINA NONPROFIT CORPORATION WHICH WAS FOUNDED IN 1986. THE VILLAGE WAS ESTABLISHED TO DEVELOP AND OPERATE A CONTINUING CARE RETIREMENT COMMUNITY AND TO PROVIDE HOUSING, HEALTH CARE, AND RELATED SERVICES TO OLDER ADULTS. THE VILLAGE IS AN AFFILIATE OF WELLSPRING SERVICES, INC. (SERVICES), THE SOLE MEMBER OF THE VILLAGE. THE VILLAGE CONSISTS OF A A LIFE PLAN COMMUNITY SITUATED ON APPROXIMATELY 40 ACRES LOCATED IN BURLINGTON, NORTH CAROLINA. THE VILLAGE CONSISTS OF 110 INDEPENDENT LIVING APARTMENT UNITS AND 45 INDEPENDENT LIVING COTTAGE UNITS; A 24-UNIT ASSISTED LIVING FACILITY, WHICH CONTAINS 12 TRADITIONAL ASSISTED LIVING UNITS AND 12 MEMORY SUPPORT UNITS; A 24-BED SKILLED NURSING UNIT; A COMMUNITY CENTER; AND A WELLNESS CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Boggs Vice-Chair, Imm. Past Chai | OfficerTrustee | 1 | $0 |
Kathryn Cookie Billings Chair | OfficerTrustee | 1 | $0 |
Jerry Bailey Board Member | Trustee | 1 | $0 |
Jeff Blaser Assistant Secretary | OfficerTrustee | 1 | $0 |
Anthony Boyd Board Member | Trustee | 1 | $0 |
Chris Brown Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Foods Food | 12/30/23 | $1,241,087 |
Mcm Resourcing - Nc Construction | 12/30/23 | $8,531,189 |
Gentry Floor Enterprises Flooring | 12/30/23 | $471,256 |
Oakly Painting Painting | 12/30/23 | $430,700 |
Mcm Resourcing Construction | 12/30/23 | $388,696 |
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 | $342,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $342,532 |
| Total Program Service Revenue | $13,192,707 |
| Investment income | $36,948 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,839 |
| 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 | $13,581,026 |
| 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 | $5,738,881 |
| Pension plan accruals and contributions | $179,000 |
| Other employee benefits | $1,326,911 |
| Payroll taxes | $404,426 |
| Fees for services: Management | $395,218 |
| Fees for services: Legal | $27,854 |
| Fees for services: Accounting | $62,793 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $222,183 |
| Advertising and promotion | $165,796 |
| Office expenses | $1,018,832 |
| Information technology | $115,054 |
| Royalties | $0 |
| Occupancy | $867,007 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,190,615 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,837,225 |
| Insurance | $455,140 |
| All other expenses | $460,571 |
| Total functional expenses | $16,318,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,709,960 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $488,770 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $30,373 |
| Prepaid expenses and deferred charges | $64,502 |
| Net Land, buildings, and equipment | $46,461,247 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,221,761 |
| Total assets | $53,976,613 |
| Accounts payable and accrued expenses | $3,723,822 |
| Grants payable | $0 |
| Deferred revenue | $18,485,046 |
| 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 | $24,474,472 |
| Other liabilities | $9,910,816 |
| Total liabilities | $56,594,156 |
| Net assets without donor restrictions | -$2,822,094 |
| Net assets with donor restrictions | $204,551 |
| 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 | $53,976,613 |