HOSPICE OF WAKE COUNTY INC

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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

1979

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $40,891,915 Revenue: $45,320,249

HOSPICE PROVIDED AT HOME MEDICAL CARE FOR THE TERMINALLY ILL AS WELL AS PALLIATIVE CARE, GRIEF COUNSELING FOR HOSPICE FAMILIES AND THE COMMUNITY AND EDUCATIONAL PROGRAMS RELATING TO END OF LIFE CARE.

Program 2

Expenses: $1,361,311 Revenue: $298,698

TRANSITIONS KIDS COMPASSIONATELY CARES FOR CHILDREN, FAMILIES, AND COMMUNITIES SIGNIFICANTLY IMPACTED BY ILLNESS OR LOSS ON THEIR SACRED JOURNEY OF LOVE, EXASPERATION, TRIUMPH; TO OFFER OUR GIFTS...

TRANSITIONS KIDS COMPASSIONATELY CARES FOR CHILDREN, FAMILIES, AND COMMUNITIES SIGNIFICANTLY IMPACTED BY ILLNESS OR LOSS ON THEIR SACRED JOURNEY OF LOVE, EXASPERATION, TRIUMPH; TO OFFER OUR GIFTS, SKILLS, AND INFORMED PERSPECTIVES THROUGH EDUCATION, ADVOCACY, AND ADVENTURE. SERVICES INCLUDE: HOME BASED INTERDISCIPLINARY CARE WITH ACCESS TO NURSING, SOCIAL WORK, SPIRITUAL CARE, AND PHYSICIANS 24/7: COORDINATION WITH COMMUNITY PROVIDERS TO ASSURE CONTINUITY ACROSS CARE LOCATIONS: AND SUPPORT FOR CHILD AS WELL AS SIBLINGS AND OTHER FAMILY MEMBERS AFFECTED BY CHILD'S 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%)

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

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

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

$887,881

Total Directors

$176,462

Key Employees

Highest Compensated

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
2025	No data	No data	No data	No data
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