COMMONWEALTH LONG TERM CARE FOUNDATION INC

EIN: 541850067 501(c)(3) Civil Rights & Advocacy

RICHMOND, VA

Total Revenue
$53,394
Total Expenses
$43,291
Total Assets
$335,862
Net Assets
$335,862
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
VA
Principal Officer
J KEITH HARE
Phone
8043539101
Tax Period
2024-01-01 to 2024-12-31

COMMONWEALTH LONG TERM CARE FOUNDATION INC, founded in 1997, is a micro nonprofit in the Civil Rights & Advocacy sector that reported $53K in total revenue in fiscal year 2024. The organization ran a surplus of $10K, a strong 19% operating margin.

Mission

TO SUPPORT EDUCATIONAL OPPORTUNITIES AND PROMOTE QUALITY CARE IN VIRGINIA'S LONG TERM CARE COMMUNITIES

Program Service Accomplishments

Program 1
Expenses: $40,761

PROVIDE SCHOLARSHIPS TO INDIVIDUALS EMPLOYED AT MEMBER FACILITIES WHO WANT TO ADVANCE THEIR NURSING CAREERS BY EARNING THEIR LICENSED PRACTICAL NURSE (LPN) OR REGISTERED NURSING (RN) DEGREES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $550
Program Service Revenue $0
Investment Income $9,117
Other Revenue $43,727
TOTAL REVENUE $53,394

Expense Breakdown

Grants Paid $40,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $40,761
Other Expenses $3,291
TOTAL EXPENSES $43,291

Year-over-Year Comparison

2024 2023 Change
Revenue $53,394 $53,038 +0.0%
Expenses $43,291 $40,261 +0.1%
Net Income $10,103 $12,777 -0.2%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
1
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
1
$425,922
Total Directors
1
$425,922
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
J KEITH HARE PRESIDENT 1.00
Officer Director
$0 $25,154 $425,922
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
2025 No data No data No data No data
2024 $53,394 $43,291 $335,862 $10,103
2023 $53,038 $40,261 $325,759 $12,777
2022 $33,581 $63,182 $312,982 $-29,601
2021 $1,895 $52,274 $342,582 $-50,379
2020 $6,993 $40,043 $392,961 $-33,050
2019 $45,030 $51,055 $428,427 $-6,025
2018 $31,673 $19,929 $431,340 $11,744
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