Carolina Village

Legal name: Carolina Village Inc

Nonprofit profile at a glance

EIN
237179679
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Hendersonville, NC, US
Phone
(828) 692-6275
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$38,061,951
Expenses
$35,933,733
Assets
$140,862,651
Liabilities
$131,480,936

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

Leadership & pay

25 people listed

Executive titles in this filing

  • Mark Morse (Vice-President)
  • Kevin Parries (CEO)

Highest reported compensation

  • Kevin Parries (CEO): $537,395 total reported compensation
  • Jon Renegar (Director of Operations): $340,235 total reported compensation
  • Amber Anderson (CFO): $224,253 total reported compensation

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

Overview

Mission

To provide a welcoming, not-for-profit Life Plan Community where seniors can flourish with guaranteed health care, engaging activities, and peace of mind.

What it reported doing in 2024

Carolina Village serves 544residents in direct health care needs, meals, housing, and transportation. In the past year we have served 35,629 days of direct patient care in our Assisted Living and Skilled Nursing Care facilities. On our campus we provide Medicare services including but not limited to Physical Therapy, Occupational Therapy, and Speech Therapy. Our residents receive benefits from our comprehensive Wellness Program organized and coordinated by a facility staff member. The wellness program includes eight facets of wellness-physical, spiritual, environmental, social, vocational, intellectual, emotional, and nutritional. We maintain the Carolina Village HUB which is a real time information portal for residents and employees to receive up to the minute information about Carolina Village. The CV HUB is easily accessible from any computer or mobile device. Through our Quality First program we have given back to the community through food drives, school supply drives, benefit dinners, and other monetary gifts. We have partnered with the Henderson County Council on Aging, Special Olympics, Manna Food Bank, United Way, and other local non-profit organizations. Carolina Village provides 40 meals per day, 5 days a week to the local congregate meal site in association with the Henderson County Meals-on-Wheels program.

Operating model

Revenue model
Other-operating. 98% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78%; rating input score 78
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $2.26 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.6%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 3.92; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 38th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 78% of revenue deployed · 81% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $29.1M in reported program spending
  • Leadership: top reported pay $537K · 25 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.2M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 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: 7 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.