Carol Woods

What it reported doing in 2024

During the year, the organization provided housing, healthcare and other related services to senior residents through operation of a continuing care retirement community (ccrc) containing 315 independent living apartments/cottages, 59 assisted living accommodations, and a 60-bed health center. Served an average of 910 seniors under life care arrangements, including an average of 84 living permanently in assisted living and the health center. (continued on schedule o)additionally, the organization provided the following programs and services:- offered a ccrc without lodging program approved by the nc department of insurance. Served an average of 146 in the program over the course of the year. - continued proactive and intentional charitable care and community benefit program, including: 1) made charitable gifts to orange county ($175,000), towns of chapel hill and carrboro ($130,000), and the local public schools ($82,000) to support vital services to seniors in the community; and 2) made $463,775 in charitable gifts and financial support to other non-profit organizations pursuing missions similar to carol woods. - continued to provide in-kind benefits to the outside community, including: 1) making available carol woods' campus and staff for a variety of educational and community support purposes -- providing internships and other opportunities for students to learn of aging services opportunities in disciplines ranging from medical and nurse practitioner, to nursing, social work and certified nursing assistants; 2) donated building materials to the habitat restore and other items to the area thrift store.

Financial Efficiency

• Mission deployment rate: 80.6%; rating input score 81
• Program expense ratio: 80.3%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 97.8%; rating input score 98; 28th 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: 11.4%; rating input score 70; 70th percentile among comparable filings
• Total-asset coverage ratio: 3.55; rating input score 79; 79th percentile among comparable filings
• Liabilities to assets ratio: 0.72; rating input score 17; 17th percentile among comparable filings
• Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings

Growth

• Program expense growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
• Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
• Asset growth: 3% per year; rating input score 100; 23rd percentile among comparable filings