MemoryCare Inc

Nonprofit profile at a glance

EIN
562178294
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Asheville, NC, USA
Phone
8287712219
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Ambulatory Health Center, Community Clinic

Official website

Reported finances

Revenue
$4,137,637
Expenses
$3,254,055
Assets
$18,308,087
Liabilities
$288,056

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • Christine Gulden MHP (Executive Director)
  • Laura Meherg (President)
  • Ryan Harman (Vice-President)

Highest reported compensation

  • Erin Gordon DO (Associate Medical Director): $190,166 total reported compensation
  • Amy Cohen MD (Employee): $179,270 total reported compensation
  • Della Simon MD (Employee): $175,492 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

MemoryCares mission is three-fold: to provide specialized medical care to older adults with cognitive impairment; to support caregivers with education, counseling, and improved access to services; and to provide community education.

What it reported doing in 2025

MemoryCare provides community-based outpatient services using an integrated model of care for people with dementia and that includes families throughout their care. For 25 years we have provided the highest quality care using a model that integrates family support and structured education with the most current and best practice medical care of adults with dementia. . In 2025, our clinical teams provided comprehensive services to 1,251 patients and 3,578 caregivers throughout our core clinical program. Services were provided at our main clinic site in Asheville, NC and at our satellite clinic in Waynesville, and through our home visit program.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 94% 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

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: 79
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.5%; rating input score 85
  • Program expense ratio: 85.6%; rating input score 86
  • Fundraising efficiency: $8.39 raised per $1 spent on fundraising; rating input score 30; 30th 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: 100%; rating input score 100; 75th 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: 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: 21.4%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 5.63; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 28.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 85.5% of revenue deployed · 85.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $2.8M in reported program spending
  • Leadership: top reported pay $190K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.