PRESBYTERIAN HOMES INC

EIN: 560564344 501(c)(3) Human Services

GREENSBORO, NC

Total Revenue
$73,497,043
Total Expenses
$59,363,114
Total Assets
$262,843,503
Net Assets
$116,357,390
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
NC
Principal Officer
TIMOTHY J WEBSTER
Phone
3368866553
Tax Period
2023-10-01 to 2024-09-30

PRESBYTERIAN HOMES INC, founded in 1942, is a mid-sized nonprofit in the Human Services sector that reported $73.5M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $14.1M, a strong 19% operating margin.

Mission

THE VISION OF THE PRESBYTERIAN HOMES INC DBA BRIGHTSPIRE IS TO CREATE AN INNOVATIVE, VIBRANT, AND DIVERSE CULTURE WHICH PROVIDES SECURITY AND ENHANCES QUALITY OF LIFE WHILE PROVIDING HOUSING AND SERVICE TO SENIOR ADULTS.

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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 $3,016,109
Program Service Revenue $65,955,906
Investment Income $4,235,208
Other Revenue $289,820
TOTAL REVENUE $73,497,043

Expense Breakdown

Grants Paid $1,751,147
Salaries & Benefits $32,257,967
Fundraising Expenses $340,664
Program Expenses $45,369,258
Other Expenses $25,354,000
TOTAL EXPENSES $59,363,114

Year-over-Year Comparison

2023 2022 Change
Revenue $73,497,043 $65,685,113 +0.1%
Expenses $59,363,114 $60,438,776 0.0%
Net Income $14,133,929 $5,246,337 +1.7%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
1549
Volunteers
177

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
6
$1,051,305
Total Directors
16
$0
Key Employees
2
$748,417
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LORI HADDOCK CHAIRPERSON 1.00
Officer Director
$0 $0 $0
ALEXANDER L MAULTSBY VICE CHAIRPERSON 1.00
Officer Director
$0 $0 $0
WILLIAM C MCILWAIN SECRETARY 1.00
Officer Director
$0 $0 $0
LEIGH ANN KLEE TREASURER 1.00
Officer Director
$0 $0 $0
DAVID COULTER IMMEDIATE PAST CHAIR 1.00
Director
$0 $0 $0
DOUG BROWN BOARD MEMBER 1.00
Director
$0 $0 $0
ANGELA BUTLER BOARD MEMBER 1.00
Director
$0 $0 $0
MAC DOUBLES BOARD MEMBER 1.00
Director
$0 $0 $0
BUBBA JUDY BOARD MEMBER 1.00
Director
$0 $0 $0
CONNIE LASTER BOARD MEMBER 1.00
Director
$0 $0 $0
D HECTOR MCEACHERN BOARD MEMBER 1.00
Director
$0 $0 $0
CORINNE NICHOLSON BOARD MEMBER 1.00
Director
$0 $0 $0
STEVE ROYAL BOARD MEMBER 1.00
Director
$0 $0 $0
BILL SMITH BOARD MEMBER 1.00
Director
$0 $0 $0
CHRISTOPHER B TAYLOR BOARD MEMBER 1.00
Director
$0 $0 $0
EDDIE WILLIFORD BOARD MEMBER 1.00
Director
$0 $0 $0
TIMOTHY WEBSTER ASSISTANT SECRETARY - CEO 37.50
Officer
$631,310 $36,275 $667,585
JULIA HANOVER ASSISTANT TREASURER - CFO 37.50
Officer
$353,787 $29,933 $383,720
CREIGHTON LOVVORN VICE PRESIDENT - COO 37.50
Key Emp
$430,890 $31,687 $462,577
MARK COLLINS VICE PRESIDENT - DIRECTOR 37.50
Key Emp
$259,930 $25,910 $285,840
THOMAS SMITH EXECUTIVE DIRECTOR-RIVER L 37.50
Highest
$264,558 $27,511 $292,069
ARNOLD THOMPSON EXECUTIVE DIRECTOR-FRIENDS 37.50
Highest
$249,538 $33,171 $282,709
LAURA LOWE DIRECTOR OF MARKETING 37.50
Highest
$258,540 $10,356 $268,896
TIFFANY ROBERSON DIRECTOR OF HEALTH SERVICE 37.50
Highest
$231,428 $26,197 $257,625
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 $73,497,043 $59,363,114 $262,843,503 $14,133,929
2023 $65,685,113 $60,438,776 $244,275,349 $5,246,337
2022 $60,268,413 $53,641,782 $239,360,172 $6,626,631
2021 $62,438,008 $48,454,851 $256,348,828 $13,983,157
2020 $56,239,171 $44,554,271 $246,304,897 $11,684,900
2019 $49,925,471 $40,439,985 $228,730,047 $9,485,486
2018 $48,176,279 $38,786,080 $181,750,123 $9,390,199
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