Carle Retirement Centers Inc

EIN: 371160033 501(c)(3) Human Services

URBANA, IL

Total Revenue
$8,658,397
Total Expenses
$8,082,854
Total Assets
$3,570,273
Net Assets
$1,861,179
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
IL
Phone
2173833311
Tax Period
2023-01-01 to 2023-12-31

Carle Retirement Centers Inc, founded in 1984, is a community nonprofit in the Human Services sector that reported $8.7M in total revenue in fiscal year 2023. Expenses of $8.1M left a modest 7% surplus.

Mission

TO PROVIDE ELDERLY AND PHYSICALLY CHALLENGED PERSONS WITH HOUSING FACILITIES AND SERVICES ESPECIALLY DESIGNED TO MEET THEIR PHYSICAL, PSYCHOLOGICAL AND SOCIAL NEEDS AND TO PROMOTE THEIR HEALTH AND WELLNESS, THE CHARGES FOR SUCH FACILITIES AND SERVICES TO BE PROVIDED, OPERATED AND MAINTAINED ON A NOT-FOR-PROFIT BASIS.

Program Service Accomplishments

Program 1
Expenses: $6,573,108 Revenue: $8,645,485

A 174 UNIT RETIREMENT LIVING CENTER PROVIDING SAFE AND AFFORDABLE RETIREMENT LIVING RESIDENCE AND RELATED SPECIAL NEEDS ACTIVITIES PRIMARILY FOR CHAMPAIGN COUNTY ILLINOIS ELDERLY RESIDENTS. IN...

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A 174 UNIT RETIREMENT LIVING CENTER PROVIDING SAFE AND AFFORDABLE RETIREMENT LIVING RESIDENCE AND RELATED SPECIAL NEEDS ACTIVITIES PRIMARILY FOR CHAMPAIGN COUNTY ILLINOIS ELDERLY RESIDENTS. IN ADDITION TO LIVING RESIDENCE, SERVICES INCLUDE BUT ARE NOT LIMITED TO ASSISTED LIVING ACTIVITIES WITH ECONOMICAL AND HEALTHY MEALS. THE LIVING CENTER ALSO MAINTAINS UNITS THAT SUPPORT ACTIVITIES RELATED TO MEMORY CARE. FINANCIAL RENT SUPPORT IS AVAILABLE FOR QUALIFIED INDIVIDUALS. THE ADDITION OF MEMORY CARE ALLOWED THE WINDSOR OF SAVOY TO OFFER AN EXPANDED CONTINUUM OF CARE TO THEIR RESIDENTS IN INDEPENDENT AND ASSISTED LIVING. IT ALSO PROVIDED HIGH QUALITY MEMORY CARE OPTIONS TO THE COMMUNITY AT LARGE, MAKING CARLE RETIREMENT CENTERS MORE DESIRABLE AND COMPETITIVE WITH OTHER RETIREMENT COMMUNITIES. IN 2023, THE AVERAGE OCCUPANCY THRU AUGUST WAS APPROXIMATELY 33%. IT INCREASED TO 89% IN SEPTEMBER, AND FURTHER INCREASED TO 100% FOR THE REMAINDER OF THE YEAR.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $8,566,506
Investment Income $-2,328
Other Revenue $94,219
TOTAL REVENUE $8,658,397

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,138,562
Fundraising Expenses $0
Program Expenses $6,573,108
Other Expenses $3,944,292
TOTAL EXPENSES $8,082,854

Year-over-Year Comparison

2023 2022 Change
Revenue $8,658,397 $8,222,915 +0.1%
Expenses $8,082,854 $8,452,520 0.0%
Net Income $575,543 $-229,605 -3.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
3
Independent Members
N/A
Employees
130
Volunteers
260

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$9,531,568
Total Directors
4
$9,531,568
Key Employees
4
$2,419,845
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Secretary - THRU 10/05/2023 1.0
Officer Director
$0 $22,891 $111,162
N/A Treasurer // Officer - EVP, Chief Finance & Strategy Officer // Secretary 2.0
Officer Director
$0 $366,889 $1,762,884
N/A Chair // Officer - President & CEO 1.0
Officer Director
$0 $36,885 $5,726,886
N/A Vice Chair // Officer - President, Carle Health Regions // EVP, COO 1.0
Officer Director
$0 $363,305 $1,930,636
N/A SVP, Chief Revenue Cycle Officer 1.0
Key Emp
$0 $100,293 $668,414
N/A EVP, Chief Human Resources Officer 1.0
Key Emp
$0 $209,640 $1,155,351
N/A Windsor Administrator 40.0
Key Emp
$159,755 $3,894 $163,649
N/A VP, Construction & Facility Services 1.0
Key Emp
$0 $68,059 $432,431
N/A Registered Nurse 40.0
Highest
$112,838 $3,356 $116,194
N/A Former - Key Employee 0.0
$0 $234,361 $1,160,805
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $8,658,397 $8,082,854 $3,570,273 $575,543
2022 $8,222,915 $8,452,520 $3,533,944 $-229,605
2021 $7,738,871 $7,441,744 $3,310,172 $297,127
2020 $7,997,688 $7,070,485 $3,671,025 $927,203
2019 $8,284,960 $7,314,635 $3,759,667 $970,325
2018 $8,146,194 $6,724,430 $4,266,586 $1,421,764
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