Valdese Nursing Home Inc

Nonprofit profile at a glance

EIN
581978560
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Connelly Springs, NC, USA
Phone
8285805000
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Nursing, Convalescent Facilities

Official website

Reported finances

Revenue
$666,975
Expenses
$101,381
Assets
$628,949
Liabilities
$617,787

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KATHY BAILEY (PRESIDENT & CEO (THRU 8/2024))
  • GARY PAXSON (PRESIDENT & CEO (AS OF 9/2024))

Highest reported compensation

  • KATHY BAILEY (PRESIDENT & CEO (THRU 8/2024)): $836,819 total reported compensation
  • GANDHARI LOOMIS MD (BOARD MEMBER): $471,311 total reported compensation
  • PATRICIA MOLL (CFO): $460,952 total reported compensation

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

Overview

Mission

Valdese nursing home, inc. Is dedicated to providing excellent care and helping each resident achieve an optimal quality of life.

What it reported doing in 2024

Valdese nursing home, inc. Provides intermediate and assisted living, and provides complete rehabilitation services with a focus on fostering independence within the facility. Valdese nursing home provides a complete range of therapy services utilizing both contracted and licensed therapists; these services include: occupational, physical, respiratory and speech therapy. Valdese nursing home operates a 104 bed facility to meet the long-term and short-term care needs of its residents.on 7/1/19 sanstone health & rehabilitation took over operations of the facility. Valdese nursing center leases the building and equipment to sanstone.

Operating model

Revenue model
Earned-program. 100% 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

MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 60
  • Accountability: 94
  • Sustainability: 73
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.3%; rating input score 13
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 23rd 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: 84.8%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 6.2; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.98; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 66.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -26.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -22.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -14.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 13.3% of revenue deployed · 89.9% of spending went to programs
  • Governance: 9 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $91K in reported program spending
  • Leadership: top reported pay $837K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 8 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 — Financial Efficiency: Mission deployment rate scored 13/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.