Hospice of Yancey County Inc

Nonprofit profile at a glance

EIN: 561388030
IRS 990 coverage: 2009–2024
Forms available: Form 990 2024
Location: Burnsville, NC, USA
Phone: 8286829675
Rating: 81
Verdict: STRONG
Rating confidence: Standard
Sector: Hospices

Reported finances

Revenue: $7,239,647
Expenses: $6,944,000
Assets: $5,981,799
Liabilities: $221,884

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

Leadership & pay

9 people listed

Executive titles in this filing

Matthew Grindstaff (CEO / Executive Director)

Highest reported compensation

Ronnie Gregory (Chief Operating Officer): $150,342 total reported compensation
Matthew Grindstaff (CEO / Executive Director): $99,096 total reported compensation

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

Overview

Mission

Our Mission - We aspire to a Higher Standard of Care. We are dedicated to being recognized as the hospice of choice in our community and for being the most respected and trusted experts in palliative and hospice care.

What it reported doing in 2024

Hospice of Yancey County, Inc. dba Compassionate Care Western North Carolina provided a total of 31,121 hospice care days during the year and served a total of 261 patients in the service area of Yancey, Mitchell, Madison, and Northern Buncombe Counties. A total of 18,955 patient visits were made by our clinical team. Hospice care was provided wherever the patient calls home; private residence, nursing home and/or assisted living environments in Routine Home Care, Continuous Care Respite and General Inpatient Levels of care. Patients are eligible for hospice care when the expected life expectance is six months or less. Hospice certified Physicians, Nurses, C N As, MSWs, Chaplains and Volunteers comprise the hospice team.

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.

The verdict

STRONG - 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 fundraising costs are high for each dollar raised.

Rating breakdown

Financial Efficiency: 84
Transparency & Controls: 69
Accountability: 95
Sustainability: 48
Growth: 100

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 88.1%; rating input score 88
Program expense ratio: 92.3%; rating input score 92
Fundraising efficiency: $9.66 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

Consistency checks: 100%; rating input score 100; 63rd 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: Limited

Accountability

Independent voting board: 100%; rating input score 100; 63rd 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: 4.1%; rating input score 48; 48th percentile among comparable filings
Total-asset coverage ratio: 0.86; rating input score 32; 32nd percentile among comparable filings
Liabilities to assets ratio: 0.04; rating input score 74; 74th percentile among comparable filings
Officer compensation ratio: 3.6%; rating input score 64; 64th percentile among comparable filings

Growth

Program expense growth: 12.7% per year; rating input score 100; 72nd percentile among comparable filings
Revenue growth: 9.3% per year; rating input score 100; 66th percentile among comparable filings
Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings

Details

Where the money goes: 88.1% of revenue deployed · 92.3% of spending went to programs
Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
Programs: 3 filed program accomplishments · $6.4M in reported program spending
Leadership: top reported pay $150K · 9 people listed · 0 of 6 pay-setting controls reported
Highest-paid contractors: 2 contractors listed · $284K reported
Consistency: 33 of 33 current checks pass
Schedules: 5 filed schedules · includes major donors and executive pay
Filing history: 15 filing years from 2009 to 2024
Contacts: How to reach this organization
Money network: 2 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.

Key Signals

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

High — Transparency & Controls: Pay-setting controls scored 0/100.
Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
Moderate — Sustainability: Operating margin scored 48/100.
Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
Review — Accountability: Governance controls: Other executive compensation review process not reported.