The Carol Woods Charitable Fund Inc
Nonprofit profile at a glance
- EIN
- 204262143
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Chapel Hill, NC, USA
- Phone
- 9199684511
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
- Affiliation
- Christianity
Reported finances
- Revenue
- $389,933
- Expenses
- $262,435
- Assets
- $2,653,619
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- MARLENE RIFKIN (VICE PRESIDENT OF THE BOARD)
- CURT MCLAUGHLIN (RESIDENT/PRESIDENT OF THE BOARD)
- MARIANNE RATCLIFFE (PRESIDENT AND CEO)
Highest reported compensation
- MARIANNE RATCLIFFE (PRESIDENT AND CEO): $365,062 total reported compensation
- KENNETH REEB JR (TREASURER - RETIRED): $275,070 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 support to the chapel hill residential retirement center, inc d/b/a the carol woods retirement community, a 501(c)(3) organization.
What it reported doing in 2024
As a supporting corporation to the carol woods retirement community, support was provided in various ways. The charitable fund provided approximately $82,000 in support to various campus needs of carol woods, including maintenance of gifted gardens. It provided approximately $48,000 in support of carol woods' tuition assistance program for career growth of carol woods' employees and for workforce development. It provided approximately $13,000 in assistance to employees experiencing financial hardship through a staff hardship fund. It provided approximately $88,000 in support of the carol woods resident association, supporting the budgets of a variety of resident committees involved in enriching the lives of the residents of the continued on schedule ocommunity. And finally, it provided approximately $25,000 to support the cost of care for residents that have limited resources.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
- 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. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 68
- Transparency & Controls: 75
- Accountability: 78
- Sustainability: 76
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 65.5%; rating input score 65
- Program expense ratio: 97.3%; rating input score 97
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 71.4%; rating input score 71; 19th 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: 32.7%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 10.11; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 36.9%; rating input score 7; 7th percentile among comparable filings
Growth
- Program expense growth: -6.4% per year; rating input score 0; 15th percentile among comparable filings
- Revenue growth: -3.3% per year; rating input score 0; 13th percentile among comparable filings
- Asset growth: 7.3% per year; rating input score 100; 57th percentile among comparable filings
Details
- Where the money goes: 65.5% of revenue deployed · 97.3% of spending went to programs
- Governance: 5 of 7 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $255K in reported program spending
- Leadership: top reported pay $365K · 8 people listed · 1 of 6 pay-setting controls reported
- Consistency: 15 of 15 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 3 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: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 7/100.