WEST DES MOINES, IA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CARE INITIATIVES, founded in 1989, is a major nonprofit in the Health Care sector that reported $261.1M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.
IMPROVING QUALITY OF LIFE FOR IOWANS AND THEIR FAMILIES DURING LIFE'S HEALTH TRANSITIONS THROUGH COMPASSIONATE INDIVIDUALIZED CARE.
DURING 2023, CARE PROVIDED SERVICES TO A DAILY AVERAGE OF 2,339 RESIDENTS IN 43 IOWA NURSING HOMES, 6 ASSISTED LIVING FACILITIES AND 3 SENIOR LIVING APARTMENT LOCATIONS. CARE PROVIDED THESE...
DURING 2023, CARE PROVIDED SERVICES TO A DAILY AVERAGE OF 2,339 RESIDENTS IN 43 IOWA NURSING HOMES, 6 ASSISTED LIVING FACILITIES AND 3 SENIOR LIVING APARTMENT LOCATIONS. CARE PROVIDED THESE RESIDENTS, WHICH ARE COMPRISED OF ELDERLY, INFIRMED AND FINANCIALLY LIMITED INDIVIDUALS, WITH A COMFORTABLE, CLEAN, HOME LIKE ATMOSPHERE. CARE PROVIDES HIGH QUALITY HEALTH CARE, FREE OF AS MANY RESTRAINTS AND PSYCHOTROPIC MEDICATIONS AS IS PRUDENT FOR THEIR SAFETY AND THE SAFETY OF OTHER RESIDENTS, AT THE LOWEST POSSIBLE COST. SERVICES PROVIDED INCLUDE ROOM AND BOARD, PROVISION FOR DIETARY REQUIREMENTS, ASSISTANCE WITH PERSONAL HYGIENE WHERE NEEDED, AND PHYSICAL AND SOCIAL ACTIVITIES TO MAINTAIN THE HIGHEST PHYSICAL AND MENTAL QUALITY OF LIFE ATTAINABLE. ADDITIONAL SERVICES INCLUDE OCCUPATIONAL, SPEECH AND PHYSICAL THERAPY, OUTPATIENT THERAPY SERVICES, SKILLED NURSING CARE IN ALL CARE CENTERS, SENIOR LIVING APARTMENTS AT SEVERAL LOCATIONS AND ASSISTED LIVING IN EIGHT LOCATIONS. IN ADDITION, CARE HAS INITIATED A PROGRAM OF REHAB TO HOME CARE TO HASTEN A RESIDENT'S OPPORTUNITY TO RETURN TO THEIR HOMES. IN ADDITION, CARE PROVIDES LIMITED OUTPATIENT THERAPY SERVICES IN THE COMMUNITIES IT SERVES.DURING 2023, CARE ALSO PROVIDED HOSPICE SERVICES TO A DAILY AVERAGE OF 402 PATIENTS THROUGH SEVEN HOSPICE LOCATIONS. CARE PROVIDES COMPASSIONATE HEALTH CARE AND PALLIATIVE SUPPORT FOR PEOPLE FACING LIFE-LIMITING ILLNESSES OR CONDITIONS. SOME OF THE SERVICES PROVIDED INCLUDE NURSING CARE, PHYSICIAN CARE, HOME HEALTH AIDE, PHYSICAL AND SPEECH THERAPY, MASSAGE THERAPY, MUSIC THERAPY, SPIRITUAL SUPPORT, AND BEREAVEMENT SUPPORT.CARE IS THE LARGEST NURSING HOME SERVICE PROVIDER FOR MEDICAID RESIDENTS IN IOWA. IN 2023, A DAILY AVERAGE OF 1,336 RESIDENTS PARTICIPATED IN THE MEDICAID PROGRAM. CARE'S COST FOR THESE RESIDENTS EXCEEDED REVENUE BY $27,336,000. NO RESIDENT OF CARE IS DENIED A MEDICATION, NURSING SUPPLY OR THERAPY, REGARDLESS OF THEIR ABILITY TO PAY. CARE HAS A HISTORY OF MODERNIZATION AND REPLACEMENT OF NURSING FACILITIES. SINCE INCEPTION, CARE HAS INVESTED MORE THAN $142 MILLION TO MODERNIZE ITS CENTERS. IMPROVEMENTS INCLUDE AIR CONDITIONING, FIRE SPRINKLERS, REPLACEMENT OF HVAC AND ELECTRICAL SYSTEMS, AND PAVED PARKING LOTS. EVERY CARE CENTER THAT HAS NOT YET BEEN REPLACED WITH A NEW REPLACEMENT BUILDING HAS HAD EXTENSIVE RENOVATIONS. SINCE INCEPTION, CARE HAS INVESTED MORE THAN $111 MILLION IN FOURTEEN NEW REPLACEMENT CENTER BUILDINGS THROUGHOUT IOWA.CARE PROMOTES ECONOMIC DEVELOPMENT IN THE COMMUNITIES IT SERVES BY ADDRESSING HOUSING, EMPLOYMENT, EDUCATIONAL OR ENVIRONMENTAL NEEDS AND CONCERNS. IN 2023, CARE CONTRIBUTED TO ITS COMMUNITIES BY PAYING PROPERTY TAX OF $2.53 MILLION. IN MANY OF ITS COMMUNITIES, CARE IS THE LARGEST EMPLOYER AND THEIR FAMILIES FORM THE LARGEST STUDENT POPULATION BASE FOR THE LOCAL SCHOOL DISTRICT.CARE FACILITIES WERE A GATHERING PLACE FOR COMMUNITY VOLUNTEERS WHO PROVIDED 5,266 HOURS TO HELP THE ELDERLY. USING THE INDEPENDENT SECTOR'S ESTIMATED DOLLAR VALUE OF VOLUNTEER TIME, THE ESTIMATED VALUE OF VOLUNTEER TIME TOTALED APPROXIMATELY $152,080. CARE'S CONTINUUM OF CARE EXTENDED INTO THE COMMUNITIES IT SERVES BY PROVIDING REDUCED OR NO-FEE SERVICES SUCH AS MEALS-ON-WHEELS, MEALS FOR COUNTY JAILS, EDUCATIONAL SERVICES AND PUBLIC AWARENESS PROGRAMS.IN 2023, $10,003 IN CHARITABLE CONTRIBUTIONS WERE MADE TO SUPPORT CHARITABLE ORGANIZATIONS THAT FURTHER CARE'S EXEMPT MISSION.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $261,075,251 | $237,982,008 | +0.1% |
| Expenses | $261,808,342 | $254,494,807 | +0.0% |
| Net Income | $-733,091 | $-16,512,799 | -1.0% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| MICHAEL BEAL | PRESIDENT/CEO/VICE CHAIR | 40.00 |
Officer
Director
|
$697,817 | $23,510 | $721,327 |
| JOSEPH REESE | SVP/COO | 40.00 |
Officer
|
$466,689 | $4,054 | $470,743 |
| DAVID DIXON | SVP/CFO/TREASURER | 40.00 |
Officer
|
$419,154 | $910 | $420,064 |
| ERIC WOODMAN | VP HOME HEALTH & HOSPICE | 40.00 |
Highest
|
$337,373 | $171 | $337,544 |
| JOHANNA VOLM | VP/CLINICAL SERVICES | 40.00 |
Highest
|
$289,666 | $9,027 | $298,693 |
| CYNTHIA WILLIAMS | VP INFORMATION SYSTEMS | 40.00 |
Highest
|
$288,381 | $7,481 | $295,862 |
| JERAMY KUHN | VP - CHIEF COMPLIANCE OFFI | 40.00 |
Highest
|
$286,158 | $8,721 | $294,879 |
| ELIZABETH GANA | CHARGE NURSE-LPN | 86.00 |
Highest
|
$279,060 | $0 | $279,060 |
| JESSICA MCDYER | VP SKILLED NURSING OPERATIONS | 40.00 |
Officer
|
$227,167 | $26,830 | $253,997 |
| JENNIFER HARWOOD | VP HOSPICE | 40.00 |
Officer
|
$78,681 | $1,606 | $80,287 |
| DENISE STURM | BOARD CHAIR | 2.00 |
Officer
Director
|
$28,000 | $0 | $28,000 |
| STEVEN ACKERSON | SECRETARY | 3.00 |
Officer
Director
|
$28,000 | $0 | $28,000 |
| LANE BOWEN | DIRECTOR | 2.00 |
Director
|
$28,000 | $0 | $28,000 |
| MARY JANE CAROTHERS | DIRECTOR | 2.00 |
Director
|
$28,000 | $0 | $28,000 |
| KEITH KREIN | DIRECTOR | 3.00 |
Director
|
$28,000 | $0 | $28,000 |
| ELIZABETH RUST | DIRECTOR | 3.00 |
Director
|
$28,000 | $0 | $28,000 |
| LINDA UPMEYER | DIRECTOR | 4.00 |
Director
|
$28,000 | $0 | $28,000 |
| KEVIN CHILDS | DIRECTOR FROM 4/2023 | 1.00 |
Director
|
$17,500 | $0 | $17,500 |
| RON HARMOND | DIRECTOR THRU 3/2023 | 1.00 |
Director
|
$7,000 | $0 | $7,000 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $261,075,251 | $261,808,342 | $173,375,162 | $-733,091 |
| 2022 | $237,982,008 | $254,494,807 | $177,858,014 | $-16,512,799 |
| 2021 | $223,919,944 | $221,174,551 | $187,351,959 | $2,745,393 |
| 2020 | $212,958,169 | $207,120,775 | $190,076,380 | $5,837,394 |
| 2019 | $192,722,659 | $191,399,173 | $183,418,361 | $1,323,486 |
| 2018 | $188,697,841 | $188,773,157 | $188,887,260 | $-75,316 |
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