Alamance Extended Care Inc

Nonprofit profile at a glance

EIN
581681364
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Greensboro, NC, USA
Phone
3365455407
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$16,758,442
Expenses
$17,124,465
Assets
$57,683,334
Liabilities
$60,230,127

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • STEPHEN P FLEMING (PRESIDENT CEO)
  • APRIL MAYBERRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STEPHEN P FLEMING (PRESIDENT CEO): $583,772 total reported compensation
  • K ALAN TUTTEROW (SECRETARY INTERIM TREAS): $447,875 total reported compensation
  • APRIL MAYBERRY (EXECUTIVE DIRECTOR): $240,144 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Alamance extended care is committed to improving the health of the community through the provision of a high quality lifecare retirement experience that integrates a continuum of retirement living preventative wellness and longterm care services.

What it reported doing in 2024

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 life plan community situated on approximately 48 acres located in burlington North Carolina. The village consists of 110 independent living apartment units and 66 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.

Operating model

Revenue model
Other-operating. 94% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 40
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.9%; rating input score 83
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.2%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 3.37; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 1.04; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 5.1%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 82.9% of revenue deployed · 81.2% of spending went to programs
  • Governance: 21 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $13.9M in reported program spending
  • Leadership: top reported pay $584K · 24 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $770K reported
  • Consistency: 46 of 46 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.