Carolina Meadows Foundation Inc

What it reported doing in 2024

The mission of carolina meadows foundation, inc. Is to solicit and receive gifts, grants, bequests and contributions for the support of carolina meadows, inc. (cmi) in order to enhance or extend its mission, programs, services, and facilities.the foundation continues to collect funds, sharpen messages, and broaden its reach to the carolina meadows community using donorperfect donor management system, speaking engagements, and monthly newsletter submissions. Fundraising is primarily to solicit, accept and acquire by gift, devise, bequest or otherwise, donations of money and property for the support and maintenance of carolina meadows, inc. And to hold, (continued on schedule o)manage, administer, use, and invest such money or property.the foundation accepts donations for specific funds that enhance the community through its programming, amenities, and funds for employees or residents facing financial hardship. In 2024, gifts to the foundation supported the following community enhancement projects that would otherwise not have been funded through cmi operating funds: installation of solar panels on cmi's plant operations buildingpurchase of an ev wheelchair accessible van for transporting residents and installation of two ev charging stations for residents, employees, or guests. Expansion and installation of a ramp to cmi's auditorium stagepurchase of portable sounds systems for cmi's apartment buildings for use at resident precinct meetings and other large gatherings that necessitate the use of a microphonethe employee emergency assistance fund supports employees with unexpected critical expenses that affect their ability to work. In 2024, eleven employees received essential support through this program. These financial awards were made directly to businesses/vendors to cover employee expenses related to housing, utilities, and transportation costs.to encourage a culture of philanthropy on campus with a particular focus on planned giving, the foundation launched its legacy leaders program in late 2023 to recognize donors who designate the foundation as a beneficiary or in their estate, trust or will at a particular giving level. The resulting momentum for planned giving encouraged the foundation to discuss donor naming opportunities for cmi's new skilled nursing facility that is currently under construction.

Financial Efficiency

• Mission deployment rate: 56%; rating input score 56
• Program expense ratio: 96.7%; rating input score 97
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 90.9%; rating input score 91; 8th 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: 97.1%; rating input score 97; 44th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 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: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 54%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 5.22; rating input score 85; 85th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
• Officer compensation ratio: 8.1%; rating input score 43; 43rd percentile among comparable filings

Growth

• Program expense growth: 3% per year; rating input score 100; 31st percentile among comparable filings
• Revenue growth: 15.5% per year; rating input score 100; 79th percentile among comparable filings
• Asset growth: 45.5% per year; rating input score 100; 96th percentile among comparable filings