Springmoor
Legal name: Springmoor Inc
Nonprofit profile at a glance
- EIN
- 561368256
- IRS 990 coverage
- 2014–2024
- Official website data refreshed
- Jul 2026
- Forms available
- Form 990 2024
- Location
- Raleigh, NC, US
- Phone
- (919) 651-4844
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Supportive Housing for Older Adults
Reported finances
- Revenue
- $44,919,208
- Expenses
- $45,153,726
- Assets
- $111,805,869
- Liabilities
- $137,055,911
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- CHARLES B BALLARD (PRESIDENT)
Highest reported compensation
- CHARLES B BALLARD (PRESIDENT): $450 total reported compensation
- WILLIAM BAXLEY (DIRECTOR): $450 total reported compensation
- ERNEST CARRAWAY (VICE PRESIDE): $450 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Springmoor proudly stands as Raleigh’s first full-service Life Plan Community, blending independent living with comprehensive on-campus healthcare, and offering residents an active, vibrant lifestyle with a commitment to dignity, security, and peace of mind. As a nonprofit continuing care retirement community, Springmoor guarantees residents a place to live for the rest of their lives. The Springmoor Endowment Fund helps make this possible. Springmoor residents who have exhausted their own financial means through no fault of their own continue to benefit from the comfort and security of home and healthcare, thanks to the selfless generosity of others. Contributions from individuals, families, Springmoor residents and employees, community organizations and businesses have made the Springmoor Endowment Fund an invaluable resource in fulfilling our mission. When you choose to make a...
What it reported doing in 2024
To provide care to a retirement community by providing high quality, responsive, financially sound life care to its residents with convenience to health care, food services, activities, entertainment and opportunities for social enrichment in a life care retirement setting.
Operating model
- Revenue model
- Other-operating. 90% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 99% 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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 93
- Accountability: 95
- Sustainability: 45
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.8%; rating input score 93
- Program expense ratio: 92%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Limited
- 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: Fail
- 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: -0.5%; rating input score 28; 28th percentile among comparable filings
- Total-asset coverage ratio: 2.48; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 1.23; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings
Growth
- Program expense growth: 9.5% per year; rating input score 100; 69th percentile among comparable filings
- Revenue growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
- Asset growth: 8.1% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 92.8% of revenue deployed · 92% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $41.6M in reported program spending
- Leadership: top reported pay $450 · 7 people listed
- Highest-paid contractors: 1 contractor listed · $750K reported
- Consistency: 30 of 30 current checks pass
- Schedules: 5 filed schedules · includes grants
- Filing history: 11 filing years from 2014 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 28/100.
- Review — Accountability: Governance controls: Whistleblower policy not reported.
- High — Sustainability: Liabilities to assets ratio scored 3/100.