THE NORTH CAROLINA HOMES FOR THE AGING FOUNDATION INC

EIN: 581594182 501(c)(3)

DURHAM, NC

Total Revenue
$1,444,540
Total Expenses
$511,798
Total Assets
$4,033,858
Net Assets
$4,033,858
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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
1984
Legal Domicile
NC
Principal Officer
TOM AKINS
Phone
9195718333
Tax Period
2024-01-01 to 2024-12-31

THE NORTH CAROLINA HOMES FOR THE AGING FOUNDATION INC, founded in 1984, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 945% from the prior year, signaling strong growth momentum. The organization ran a surplus of $933K, a strong 65% operating margin.

Mission

CONNECT RESOURCES TO IDEAS AND INITIATIVES THAT EXPAND THE POSSIBILITIES FOR AGING IN NORTH CAROLINA.

Program Service Accomplishments

Program 1
Expenses: $508,357 Revenue: $0

ALL ACTIVITIES OF THE ORGANIZATION ARE CARRIED OUT IN CONCERT WITH LEADINGAGE NORTH CAROLINA, WITH AN AIM TOWARD CONNECTING RESOURCES TO IDEAS AND INITIATIVES THAT EXPAND THE POSSIBILITIES FOR AGING...

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ALL ACTIVITIES OF THE ORGANIZATION ARE CARRIED OUT IN CONCERT WITH LEADINGAGE NORTH CAROLINA, WITH AN AIM TOWARD CONNECTING RESOURCES TO IDEAS AND INITIATIVES THAT EXPAND THE POSSIBILITIES FOR AGING IN NORTH CAROLINA.

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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 $1,300,680
Program Service Revenue $0
Investment Income $143,860
Other Revenue $0
TOTAL REVENUE $1,444,540

Expense Breakdown

Grants Paid $425,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $508,357
Other Expenses $86,298
TOTAL EXPENSES $511,798

Year-over-Year Comparison

2024 2023 Change
Revenue $1,444,540 $138,274 +9.4%
Expenses $511,798 $28,007 +17.3%
Net Income $932,742 $110,267 +7.5%
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

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
8

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
5
$322,755
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIM WEBSTER PAST CHAIR 1.00
Director
$0 $0 $0
SARA FLYNN-LOY CHAIR 1.00
Officer Director
$0 $0 $0
ANGELA RIGSBEE SECRETARY 1.00
Officer Director
$0 $0 $0
BEN GILCHRIST CHAIR ELECT 1.00
Officer Director
$0 $0 $0
ZANE BENNET DIRECTOR 1.00
Director
$0 $0 $0
DALE MELTON TREASURER 1.00
Officer Director
$0 $0 $0
TOM FORD DIRECTOR 1.00
Director
$0 $0 $0
JACOB ELLIOTT DIRECTOR 1.00
Director
$0 $0 $0
ANITA HOLT EX OFFICIO 1.00
Director
$0 $0 $0
VERNON BAKER DIRECTOR 1.00
Director
$0 $0 $0
KEVIN PARRIES DIRECTOR (UNTIL 5/24) 1.00
Director
$0 $0 $0
TOM AKINS PRESIDENT & CEO 1.00
Officer
$0 $41,234 $322,755
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 $1,444,540 $511,798 $4,033,858 $932,742
2023 $138,274 $28,007 $2,848,741 $110,267
2022 $896,762 $42,310 $2,739,196 $854,452
2021 $134,160 $38,672 $1,993,129 $95,488
2020 $136,344 $29,836 $1,889,655 $106,508
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