CARE INITIATIVES

EIN: 760262402 501(c)(3) Health Care

WEST DES MOINES, IA

Total Revenue
$261,075,251
Total Expenses
$261,808,342
Total Assets
$173,375,162
Net Assets
$66,988,371
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
TX
Principal Officer
MICHAEL BEAL
Phone
5152244442
Tax Period
2023-01-01 to 2023-12-31

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.

Mission

IMPROVING QUALITY OF LIFE FOR IOWANS AND THEIR FAMILIES DURING LIFE'S HEALTH TRANSITIONS THROUGH COMPASSIONATE INDIVIDUALIZED CARE.

Program Service Accomplishments

Program 1
Expenses: $239,927,886 Revenue: $259,287,988

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...

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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.

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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 (2023)

Revenue Breakdown

Contributions & Grants $832,082
Program Service Revenue $259,437,351
Investment Income $826,140
Other Revenue $-20,322
TOTAL REVENUE $261,075,251

Expense Breakdown

Grants Paid $183,507
Salaries & Benefits $153,094,875
Fundraising Expenses $0
Program Expenses $239,927,886
Other Expenses $108,529,960
TOTAL EXPENSES $261,808,342

Year-over-Year Comparison

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%
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
9
Independent Members
8
Employees
5819
Volunteers
101

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
7
$2,002,418
Total Directors
10
$941,827
Key Employees
0
$0
Highest Compensated
5
reported
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
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 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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