The Forest At Duke Inc

EIN: 561630158 501(c)(3) Human Services

Durham, NC

Total Revenue
$34,469,066
Total Expenses
$35,633,057
Total Assets
$243,873,442
Net Assets
$12,295,586
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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
NC
Phone
9199408000
Tax Period
2024-10-01 to 2025-09-30

The Forest At Duke Inc, founded in 1988, is a mid-sized nonprofit in the Human Services sector that reported $34.5M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE A CARING, RESPONSIBLE COMMUNITY THAT FOSTERS THE INDEPENDENCE OF RESIDENTS OF RETIREMENT AGE BY ENHANCING THEIR CAPABILITY TO LEAD PURPOSEFUL, ACTIVE, HEALTHY AND SECURE LIVES.

Program Service Accomplishments

Program 1
Expenses: $30,361,568 Revenue: $31,881,269

The Forest at Duke welcomed its first residents in 1992 with a mission to provide a caring, responsible community that fosters the independence of residents of retirement age by enhancing their...

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The Forest at Duke welcomed its first residents in 1992 with a mission to provide a caring, responsible community that fosters the independence of residents of retirement age by enhancing their ability to lead purposeful, active, healthy and secure lives. The 47-acre campus is home to approximately 500 residents and includes 304 independent living residences, 32 assisted living suites and 58 skilled nursing residences. In 2007, The Forest was awarded a BBB+ credit rating by Fitch Ratings, achieved national Commission on Accreditation of Rehabilitation Facilities/Continuing Care Accreditation Commission (CARF-CCAC) accreditation, and received another health center deficiency free survey from the NC Department of Health Regulators. In 2007, The Forest also chose to participate in the Medicare Part A program and gained certification under Medicare. In December 2022, The Forest at Duke was reviewed by CARF-CCAC and earned another five-year term as an accredited continuing retirement community. The Forest has completed the construction of 15 cottage homes and all were occupied by the end of fiscal year 2015. The renovation to the Community Center, including enlarging the Fitness Center, enhancing dining and other interior program modifications, was completed by the end of fiscal year 2016. In June 2021, The Forest completed the financing to build a new health center on its current campus. The facility will have 90 new units in the "small house" format in a five-story, approximately 110,000 square foot building. The small house model of care is designed around houses (or groups of rooms) in which each house has 10 private rooms each with a bathroom and all common spaces and support areas located within the house. The small house model will provide the same scope of services, each neighborhood will have a team that provides the care, residents will have short walking distances to increase level of independence, resident privacy, additional dining and fitness venues. The project is complete and the residents moved into the new health center in February 2023. In November 2022, The Forest completed the financing for Phase Two of the project. The project includes the addition of seventy-one (71) new independent living apartments and an expanded community center which connects the existing community center to the health center. The expanded community center also includes service and amenity spaces such as additional dining, fitness area, classroom, multipurpose rooms, a clinic and office spaces. The new apartments have an average of 1,450 square feet with spacious open-living design floorplans, ten foot ceilings, and finishes commensurate with high-end real estate in the market area. Other features include gourmet kitchens with stainless steel appliances, large covered balconies or ground level patios for outdoor living in each apartment home. Each apartment home is expected to include assigned underground parking. The project was substantially complete in July 2025 and new residents began to take occupancy of their new homes in September 2025. The Forest at Duke takes seriously its commitment to social responsibility and leadership. Outreach includes major annual corporate financial assistance to the Durham Council for Senior Citizens, the Durham Center for Senior Life, the Senior PHARMAssist Program, and Rogers-Herr Middle School. Throughout the year, other local non-profits are helped with cash, in-kind and volunteer donations as well. More than 75,000 resident volunteer hours per year benefit local schools, churches, Duke Hospitals and other area service organizations. The Forest continues to have strong associations with educational and licensing institutions. The community serves as a training site for: * Geriatric Fellows - Duke University Medical Center * Internal Medicine Residents - Duke University Medical Center * Nursing students - Watts School of Nursing * Interns in the Leadership in Aging Program - Duke University * Therapeutic recreation interns from surrounding universities * Nursing Home Administrators - The North Carolina Board of Licensing of Nursing Home Administrators The Forest actively participates with its peers in the industry through Association involvement. Forest employees often serve in leadership and as presenters at state and national educational sessions. The Forest maintains memberships in the following professional associations: * LeadingAge * Leading Age North Carolina * North Carolina Health Care Association * American Health Care Association * Durham Chamber of Commerce * North Carolina Coalition for Long Term Care Enhancement * Society for the Advancement of Gerontological Environments

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $67,714
Program Service Revenue $31,881,269
Investment Income $2,385,089
Other Revenue $134,994
TOTAL REVENUE $34,469,066

Expense Breakdown

Grants Paid $1,388,752
Salaries & Benefits $15,976,437
Fundraising Expenses $10,790
Program Expenses $30,361,568
Other Expenses $18,257,078
TOTAL EXPENSES $35,633,057

Year-over-Year Comparison

2024 2023 Change
Revenue $34,469,066 $31,345,461 +0.1%
Expenses $35,633,057 $33,482,737 +0.1%
Net Income $-1,163,991 $-2,137,276 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
428
Volunteers
20

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
4
$642,187
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Chuck Kennedy Chairman 4.0
Officer Director
$0 $0 $0
Craig Lewis Vice Chairman 4.0
Officer Director
$0 $0 $0
Bobby Kanoy Board Member 4.0
Director
$0 $0 $0
Craig Daniels Board Member 4.0
Director
$0 $0 $0
Denise Barnes Board Member 4.0
Director
$0 $0 $0
Edward Embree Board Member 4.0
Director
$0 $0 $0
James Freedman Board Member 4.0
Director
$0 $0 $0
James Hopkins Board Member 4.0
Director
$0 $0 $0
John Rasmussen Board Member 4.0
Director
$0 $0 $0
Kimberly Rehberg Board Member 4.0
Director
$0 $0 $0
Larry Moneta Board Member 4.0
Director
$0 $0 $0
Lynne Farber Board Member 4.0
Director
$0 $0 $0
Sterly Wilder Board Member 4.0
Director
$0 $0 $0
Tracy Dell'Angela Board Member 4.0
Director
$0 $0 $0
Anita L Holt President, CEO 40.0
Officer
$336,743 $35,346 $372,089
Karen E Henry CFO, Treasurer 40.0
Officer
$236,993 $33,105 $270,098
April Ravelli Director of Sales & Mktg 40.0
Highest
$113,297 $7,660 $120,957
Lee Ann Bailey-Clayton Director of Health Services 40.0
Highest
$145,872 $11,023 $156,895
Nathan Summers Director of Community Services 40.0
Highest
$140,270 $3,092 $143,362
Rashad Wilson Director of Information Tech 40.0
Highest
$111,379 $1,604 $112,983
Sharon Pitt COO 40.0
Highest
$198,710 $32,974 $231,684
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 $34,469,066 $35,633,057 $243,873,442 $-1,163,991
2024 $31,345,461 $33,482,737 $183,251,223 $-2,137,276
2023 $24,329,545 $29,273,687 $146,426,388 $-4,944,142
2022 $28,567,112 $26,703,754 $132,994,833 $1,863,358
2021 $26,264,359 $25,067,982 $134,522,484 $1,196,377
2020 $27,793,793 $25,541,720 $82,821,303 $2,252,073
2019 $26,750,803 $24,972,196 $82,393,788 $1,778,607
2018 $27,053,913 $24,411,539 $80,330,202 $2,642,374
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