HOSPICE OF WAKE COUNTY INC

EIN: 561228779 501(c)(3)

RALEIGH, NC

Total Revenue
$53,814,473
Total Expenses
$49,357,125
Total Assets
$25,539,234
Net Assets
$17,993,862
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
NC
Principal Officer
STEVE SHELTON
Phone
9198280890
Tax Period
2024-01-01 to 2024-12-31

HOSPICE OF WAKE COUNTY INC, founded in 1979, is a mid-sized nonprofit that reported $53.8M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $49.4M left a modest 8% surplus.

Mission

TO CARE FOR INDIVIDUALS AND FAMILIES WITH COMPASSION, SUPPORT, AND EXPERTISE AS THEY NAVIGATE THE END OF LIFE OR LIFE-CHANGING ILLNESS.

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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 $7,916,047
Program Service Revenue $45,618,947
Investment Income $79,726
Other Revenue $199,753
TOTAL REVENUE $53,814,473

Expense Breakdown

Grants Paid $0
Salaries & Benefits $33,890,139
Fundraising Expenses $728,149
Program Expenses $42,253,226
Other Expenses $15,466,986
TOTAL EXPENSES $49,357,125

Year-over-Year Comparison

2024 2023 Change
Revenue $53,814,473 $43,982,993 +0.2%
Expenses $49,357,125 $43,506,884 +0.1%
Net Income $4,457,348 $476,109 +8.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
537
Volunteers
257

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
9
$887,881
Total Directors
17
$176,462
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM WOLK CEO 40.00
Officer Director
$172,420 $4,042 $176,462
JAY IRBY PRESIDENT 0.50
Officer Director
$0 $0 $0
CHILEATHA WYNN VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
DAVID BOONE TREASURER 0.50
Officer Director
$0 $0 $0
JOHN GIBSON SECRETARY 0.50
Officer Director
$0 $0 $0
PETER BURROUGHS BOT CHAIR, FOUNDATION CHAI 0.50
Officer Director
$0 $0 $0
BILLY DUNLAP BOARD MEMBER 0.50
Director
$0 $0 $0
BRENDA GIBSON BOARD MEMBER 0.50
Director
$0 $0 $0
CASEY ATWATER BOARD MEMBER 0.50
Director
$0 $0 $0
JERRY BERNSTEIN BOARD MEMBER 0.50
Director
$0 $0 $0
RHONDA CATLIN BOARD MEMBER 0.50
Director
$0 $0 $0
ALYSON CONNOR BOARD MEMBER 0.50
Director
$0 $0 $0
CHARLES HARR BOARD MEMBER 0.50
Director
$0 $0 $0
CARNELA HILL BOARD MEMBER 0.50
Director
$0 $0 $0
RYAN JURY BOARD MEMBER 0.50
Director
$0 $0 $0
SUSAN MOORE BOARD MEMBER 0.50
Director
$0 $0 $0
BOBBY SIMPSON BOARD MEMBER 0.50
Director
$0 $0 $0
RACHEL LIPNER CHIEF MEDICAL OFFICER 40.00
Officer
$285,620 $11,075 $296,695
STEVE SHELTON CFO 40.00
Officer
$192,297 $18,130 $210,427
DARLENE RUTLEDGE COO 40.00
Officer
$191,311 $12,986 $204,297
CAMILA DIAZ HPC PHYSICIAN 40.00
Highest
$207,017 $15,970 $222,987
JOSHUA DOWD MEDICAL DIRECTOR OF COMMUN 40.00
Highest
$223,511 $16,681 $240,192
MARY J STEELE HPC PHYSICIAN 40.00
Highest
$199,619 $8,260 $207,879
LESLIE E SUTTON LEAD HOSPICE PHYSICIAN 40.00
Highest
$235,690 $16,154 $251,844
ADAM KETNER HPC PHYSICIAN 40.00
Highest
$197,220 $23,574 $220,794
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 $53,814,473 $49,357,125 $25,539,234 $4,457,348
2023 $43,982,993 $43,506,884 $23,564,354 $476,109
2022 $45,064,099 $51,190,152 $23,498,704 $-6,126,053
2021 $50,848,556 $54,372,710 $24,964,055 $-3,524,154
2020 $55,437,804 $54,147,845 $27,519,361 $1,289,959
2019 $53,114,678 $51,081,793 $25,933,959 $2,032,885
2018 $43,675,413 $44,431,608 $23,282,606 $-756,195
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