Pace North
- Assets
- $9.1m
- Revenue
- $16.1m
- Investments
- $0.0
- Employees
- 134
- Location
- Traverse City, MI
- Founding
- 04/2017
- Data as of
- 12/2023
- EIN
- 81-4749395
Organization Overview
Pace North is located in Traverse City, MI. The organization was established in 2017. 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, Pace North employed 134 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pace North 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, Pace North generated $16.1m in total revenue. All expenses for the organization totaled $15.9m during the year ending 12/2023. While expenses have increased by 52.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
A PROVIDER OF THE PROGRAM OF ALL-INCLUSIVE CARE FOR THE ELDERLY (PACE) WHICH IS A COMMUNITY-BASED, LONG-TERM CARE DELIVERY PROGRAM THAT PROVIDES COMPREHENSIVE, COORDINATED, MANAGED CARE TO ELIGIBLE PARTICIPANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM OF ALL-INCLUSIVE CARE FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Aderholdt President | OfficerTrustee | 5 | $0 |
Korvyn Hansen Treasurer | OfficerTrustee | 5 | $0 |
Cecil Mcnally Director | Trustee | 2 | $0 |
Linda Root Director | Trustee | 2 | $0 |
Mary Marios Director | Trustee | 2 | $0 |
Gerard Bodalski Director | Trustee | 2 | $0 |
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 | $2,177 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,177 |
| Total Program Service Revenue | $16,033,953 |
| Investment income | $90,503 |
| 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 | $16,126,633 |
| 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. | $215,000 |
| Compensation of current officers, directors, key employees. | $45,199 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,916,477 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $872,755 |
| Payroll taxes | $0 |
| Fees for services: Management | $67,500 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $53,617 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $442,469 |
| Travel | $74,338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,218 |
| Interest | $265,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $345,434 |
| Insurance | $200,710 |
| All other expenses | $19,980 |
| Total functional expenses | $15,895,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,420,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $264,666 |
| 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 | $103,139 |
| Net Land, buildings, and equipment | $3,698,375 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $620,065 |
| Total assets | $9,106,680 |
| Accounts payable and accrued expenses | $1,852,804 |
| 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 | $2,220,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,080,080 |
| Total liabilities | $9,152,884 |
| Net assets without donor restrictions | -$46,204 |
| 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 | $9,106,680 |