Carolina Meadows

What it reported doing in 2024

Our belief is that if carolina meadows ceased to exist, the organization would be missed within the local community and the broader county area because carolina meadows is approximately the 3rd largest employer and the 4th largest property taxpayer in chatham county. Continued on schedule o.community outreach: carolina meadows supports a variety of organizations and causes within the local community that align with the goals and beliefs of the organization, paying particular attention to the following areas:-chatham county property taxes -providing charity care for the residents of carolina meadows-employee literacy -addressing food insecurity and hunger, particularly among children and senior citizens-contributing to the united way of chatham county, cora, and pbs North Carolina joint resident-organizational campaigns-validating the importance of the arts through the chatham artist in residence program-supporting workforce development, increasing housing supply and affordability, and supporting small business development through a 5-year, $50,000 pledge for a greater chapel hill-carrboro campaign through the chapel hill chamber of commercecarolina meadows has been committed, since inception, to paying property taxes on its property since the campus was initially developed through bank loans and entry fees received from sale of independent living units as the campus was built out over the years. All the independent living units and the current skilled nursing facility were financed with traditional bank loans or using first-generation independent living unit entry fees to pay for the cost of construction. Carolina meadows believes it benefits greatly by supporting the emergency management and communications, fire marshall, sheriff, environmental health and quality, aging services, and public health departments within chatham county through its annual payment of property taxes. Property taxes are budgeted annually and are included in the monthly fees paid by the residents of carolina meadows. Carolina meadows is committed to providing free housing and services to residents who may have exhausted their assets through no fault of their own and need financial assistance to cover the cost of housing and services. In any given year, carolina meadows pays the full cost of care for five to six residents who have outlived their financial resources. The carolina meadows residents association and carolina meadows, inc. Work collaboratively on three key charitable events: pbs North Carolina (formerly unc tv), chatham county outreach alliance (cora), and united way of chatham county. Residents also provide significant volunteer hours to local nonprofit organizations in chatham county. In 2024, carolina meadows was honored to receive a statewide excellence in community service award from leading age nc. It was in recognition of an intergenerational pen pal program between 180 cm residents and 252 local middle and high school students. Initiated by local public school teacher raquel harris during the peak of covid-19 and remote learning, this program celebrated its fifth year of building relationships and community while enhancing students' creative writing skills.charitable donations and community benefits for 2024 included $493,781 in benevolent care provided, $136,879 in charitable donations, $58,595 in donated volunteer services and $1,418,864 in chatham county property taxes.carolina meadows is also actively involved in the community through participation in educational, charitable, and volunteer programs sponsored on campus and throughout the surrounding community. Carolina meadows made significant charitable gifts in 2024 to support our broader community in chatham county, the state, and around the world, including but not limited to, the following examples: ~ $8,285 donation to support hunger relief throughout all of chatham county. Food insecurity continues to increase as support from federal food programs decreases~ $12,590 donatio

Financial Efficiency

• Mission deployment rate: 89%; rating input score 89
• Program expense ratio: 87.6%; rating input score 88
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 85.7%; rating input score 86; 1st 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: 92.6%; rating input score 93; 25th 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; 77th 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: 3.7%; rating input score 51; 51st percentile among comparable filings
• Total-asset coverage ratio: 4.66; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 1.21; rating input score 4; 4th percentile among comparable filings
• Officer compensation ratio: 2.6%; rating input score 45; 45th percentile among comparable filings

Growth

• Program expense growth: 4.2% per year; rating input score 100; 33rd percentile among comparable filings
• Revenue growth: 3.5% per year; rating input score 100; 28th percentile among comparable filings
• Asset growth: 5.4% per year; rating input score 100; 39th percentile among comparable filings