BAPTIST RETIREMENT HOMES OF NORTH CAROLINA INCORPORATED (EIN 560562308) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1952

Legal Domicile

Principal Officer

REED A VANDERSLIK

Phone

3367250202

Tax Period

2023-10-01 to 2024-09-30

BAPTIST RETIREMENT HOMES OF NORTH CAROLINA INCORPORATED, founded in 1952, is a mid-sized nonprofit in the Human Services sector that reported $44.3M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $52.0M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO PROVIDE QUALITY LIVING OPTIONS AND SERVICES TO NORTH CAROLINA'S OLDER ADULT POPULATION.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,902,057

Program Service Revenue $39,878,751

Investment Income $1,252,119

Other Revenue $262,884

TOTAL REVENUE $44,295,811

Expense Breakdown

Grants Paid $1,267,769

Salaries & Benefits $22,194,914

Fundraising Expenses $0

Program Expenses $41,276,322

Other Expenses $28,516,438

TOTAL EXPENSES $51,979,121

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,295,811	$52,031,584	-0.1%
Expenses	$51,979,121	$47,484,488	+0.1%
Net Income	$-7,683,310	$4,547,096	-2.7%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

813

Volunteers

400

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

$627,168

Total Directors

Key Employees

$249,762

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES D MAST	CHAIR	1.00	Officer Director	$0	$0	$0
DANIEL RICE	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
BETTY LYNNE JOHNSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SARAH MAYO	TREASURER	1.00	Officer Director	$0	$0	$0
JANET BLANFORD	SECRETARY	1.00	Officer Director	$0	$0	$0
SOBEIDA ADOLPHUS	TRUSTEE	1.00	Director	$0	$0	$0
PERRY BAILEY	TRUSTEE	1.00	Director	$0	$0	$0
DR TABARA CAPLE	TRUSTEE	1.00	Director	$0	$0	$0
DR JO CLEVELAND	TRUSTEE	1.00	Director	$0	$0	$0
POWELL DREW	TRUSTEE	1.00	Director	$0	$0	$0
PHIL FEAGAN	TRUSTEE	1.00	Director	$0	$0	$0
SAMMY GIANOPOULOS	TRUSTEE	1.00	Director	$0	$0	$0
CAROLYN D HELMS	TRUSTEE	1.00	Director	$0	$0	$0
DAVE HORNE	TRUSTEE	1.00	Director	$0	$0	$0
RALPH MORGAN	TRUSTEE	1.00	Director	$0	$0	$0
NIDRA RICKS	TRUSTEE	1.00	Director	$0	$0	$0
DRNATHAN SCOVENS	TRUSTEE	1.00	Director	$0	$0	$0
DR MICHAEL R TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
BOBBY F WATSON	TRUSTEE	1.00	Director	$0	$0	$0
REED VANDERSLIK	CEO	36.00	Officer	$384,611	$48,222	$432,833
SCOTT FARKAS	CFO - THRU 9/26/23	36.00	Officer	$153,408	$40,927	$194,335
MICHAEL BRADY	CFO - AS OF 2/12/24	36.00	Officer	$0	$0	$0
JESSICA MCCOLLUM	CHIEF OPERATING OFFICER	40.00	Key Emp	$220,598	$29,164	$249,762
JENNIFER BARTSCHT	CHIEF MARKETING OFFICER	40.00	Highest	$183,231	$28,453	$211,684
TATUM MYERS	EXECUTIVE DIRECTOR	40.00	Highest	$140,899	$25,137	$166,036
CYNTHIA MOORE	EXECUTIVE DIRECTOR	40.00	Highest	$149,936	$0	$149,936
CONNIE MCBRIDE	LPN	40.00	Highest	$124,921	$463	$125,384
SHANNON SEARS	DIRECTOR, CLINICAL COMPLIANCE	40.00	Highest	$119,225	$10,831	$130,056

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	$44,295,811	$51,979,121	$189,607,114	$-7,683,310
2023	$52,031,584	$47,484,488	$136,825,376	$4,547,096
2022	$39,587,272	$39,252,162	$87,897,234	$335,110
2021	$32,374,194	$30,465,530	$88,647,390	$1,908,664
2020	$29,238,012	$29,250,958	$86,440,616	$-12,946
2019	$29,132,344	$28,431,090	$84,455,567	$701,254
2018	$29,535,329	$27,822,966	$85,847,330	$1,712,363

BAPTIST RETIREMENT HOMES OF NORTH CAROLINA INCORPORATED