Galloway Ridge Inc

Nonprofit profile at a glance

EIN
562277623
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Pittsboro, NC, USA
Phone
9195452215
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$42,369,020
Expenses
$36,173,854
Assets
$143,230,394
Liabilities
$165,114,108

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

Leadership & pay

19 people listed

Executive titles in this filing

  • KELLY MACKAY (PRESIDENT AND DIRECTOR)
  • LISA CHAPMAN (VICE PRESIDENT)
  • ROBERT ZIMMER (CEO/EXECUTIVE DIRECTOR)

Highest reported compensation

  • ROBERT ZIMMER (CEO/EXECUTIVE DIRECTOR): $320,338 total reported compensation
  • MELISSA JOHNSON (SR. DIRECTOR OF MARKETING): $163,175 total reported compensation
  • KIMBERLY HUTTER (DIRECTOR OF HUMAN RESOURCES & ADMIN SERVICES): $151,392 total reported compensation

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

Overview

Mission

Galloway ridge exists to inspire meaningful and engaged lives and to assure each resident a superior quality of life and care.

What it reported doing in 2024

Galloway ridge, inc. Provided housing, healthcare, and other related services to residents through the operation of a resident facility containing 301 independent living units, 22 assisted living units, 14 multi-unit assisted housing units, 20 memory care units, and 40 skilled nursing units. Galloway ridge welcome its first resident in 2005 with a mission of providing its residents superior services at a reasonable cost and striving to provide a complement of services to support the resident's health, social, spiritual and recreational needs.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Assets have declined or grown slowly and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 68
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 79.5%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 86%; rating input score 86; 18th 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; 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: 14.6%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 3.96; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 1.15; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 79.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $28.7M in reported program spending
  • Leadership: top reported pay $320K · 19 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.5M reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 13 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 — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.