Civic Intelligence

Preferred Hospice Inc.

990 • Fiscal year 2023 • EIN 27-0086345

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 02, 2024

1963 Second StreetRichlands, VA 24641

(276) 963-9577

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.09x

Higher debt load relative to assets than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

51st percentile

0.09x

Higher debt load relative to revenue than 51% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

11th percentile

-31%

Higher net margin than 11% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

70th percentile

$107,203

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

7th percentile

-20%

Faster asset growth than 7% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

52nd percentile

7.9%

Faster revenue growth than 52% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$2,058,101

Down $982,282 (-32%) from 2021

Net Assets

Down

$1,871,566

Down $993,165 (-35%) from 2021

Liabilities

Up

$186,535

Up $10,883 (+6.2%) from 2021

Revenue

Down

$2,101,611

Down $267,409 (-11%) from 2021

Expenses

Up

$2,743,675

Up $401,602 (+17%) from 2021

Net Income

Down

-$642,064

Down $669,011 (-2483%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $706,110Liabilities 2013: $56,651Net Assets 2013: $649,4592013Assets 2015: $808,688Liabilities 2015: $68,173Net Assets 2015: $740,5152015Assets 2016: $865,663Liabilities 2016: $69,238Net Assets 2016: $796,4252016Assets 2017: $1,376,704Liabilities 2017: $110,704Net Assets 2017: $1,266,0002017Assets 2018: $1,853,709Liabilities 2018: $155,226Net Assets 2018: $1,698,4832018Assets 2020: $2,959,758Liabilities 2020: $139,541Net Assets 2020: $2,820,2172020Assets 2021: $3,040,383Liabilities 2021: $175,652Net Assets 2021: $2,864,7312021Assets 2023: $2,058,101Liabilities 2023: $186,535Net Assets 2023: $1,871,5662023Assets 2024: $2,102,712Liabilities 2024: $229,827Net Assets 2024: $1,872,8852024

Highlighted filing

2023

Assets$2,058,101
Liabilities$186,535
Net Assets$1,871,566

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $706,617Expenses 2013: $965,715Net Income 2013: -$259,0982013Revenue 2015: $1,207,717Expenses 2015: $1,089,867Net Income 2015: $117,8502015Revenue 2016: $1,293,343Expenses 2016: $1,237,433Net Income 2016: $55,9102016Revenue 2017: $2,272,825Expenses 2017: $1,803,250Net Income 2017: $469,5752017Revenue 2018: $2,579,050Expenses 2018: $2,145,626Net Income 2018: $433,4242018Revenue 2020: $3,154,508Expenses 2020: $2,320,466Net Income 2020: $834,0422020Revenue 2021: $2,369,020Expenses 2021: $2,342,073Net Income 2021: $26,9472021Revenue 2023: $2,101,611Expenses 2023: $2,743,675Net Income 2023: -$642,0642023Revenue 2024: $2,764,829Expenses 2024: $2,763,510Net Income 2024: $1,3192024

Highlighted filing

2023

Revenue$2,101,611
Expenses$2,743,675
Net Income-$642,064
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 2, 2024
Return Version
2023v5.0
Gross Receipts
$2,108,886
Mission and Program Overview

Mission

To provide hospice, end of life care management, to individuals in the local community.

To provide hospice, end of life care management, to individuals in the local community

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,053,338$1,669,612▲ $616,274
Accounts Receivable$723,019$377,302▼ $345,717
Prepaid Expenses and Deferred Charges$12,202$10,881▼ $1,321
Land, Buildings, and Equipment, Net$343$206▼ $137
Cash and Non-Interest-Bearing Accounts$777,645$100▼ $777,545
Total Assets$2,566,547$2,058,101▼ $508,446
Liabilities
Accounts Payable and Accrued Expenses$124,508$186,535▲ $62,027
Total Liabilities$124,508$186,535▲ $62,027
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,442,039$1,871,566▼ $570,473
Total Net Assets Fund Balance$2,442,039$1,871,566▼ $570,473
Total Liabilities and Net Assets / Fund Balance$2,566,547$2,058,101▼ $508,446

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$23,807$23,807
Equipment$206$2,444$2,650
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tammie VencillSecretaryFT$104,259$2,944$107,203
Dr Kevin S CombsBoard Member/medical Direc-$26,625-$26,625
Dr Toeya PirizAssociate Medical Director-$8,200-$8,200

Board Members and Trustees

NameTitle
Marc BrooksPresident
Peter MulkeyVice President
Karen WebbBoard Member
Richard SmithBoard Member
Scott ButcherBoard Member
Mary Ann StrongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,108
Program Service Revenue
$2,073,681
Investment Income
$7,959
Other Revenue
$14,863
All Other Contributions
$5,108
Change in Net Assets
$-642,064
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,912,379
Other Expenses$831,296
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,457,311$44,245-$1,501,556
Travel$174,707$3,608-$178,315
Other Employee Benefits$148,505--$148,505
Current Officers, Directors, Trustees, and Key Employees$139,084--$139,084
Payroll Taxes$119,915$3,319-$123,234
Insurance$62,097--$62,097
Information Technology-$43,929-$43,929
Fees for Services Legal-$42,876-$42,876
Office Expenses$11,947$29,277-$41,224
Occupancy$36,830--$36,830
Advertising$22,336--$22,336
All Other Expenses$788$2,128-$2,916
Other Expenses$2,722$11,833-$2,722
Fees for Services Other-$720-$720
Conferences and Meetings-$368-$368
Depreciation Depletion$137--$137
Total Functional Expenses$2,561,372$182,303$0$2,743,675
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$22,138
Gaming Direct Expenses$7,275
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

Organization does not have committees with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

Form 990 is reviewed by the board president.

Form 990, Part VI, Section B, Line 12C

At hire all employees are required to read and sign/date a conflict of interest statement that they have no financial or personal conflicts of interest with the agency. When new board members are appointed they also sign this form to ensure compliance. On an ongoing basis the director evaluates through practice and communication that conflicts of interest are identified.

Form 990, Part VI, Section B, Line 15A

Top management compensation is based on: a) local / geographical comparative salary ranges for like positions in like market; b) skill level and knowledge of the management employee; c) national salary ranges that are distributed from the nhpco; d) duties of the position and level of responsibility.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Preferred Hospice Inc
EIN
27-0086345
Phone
2769639577
Address
1963 SECOND STREET, RICHLANDS, VA 24641
Doing Business As
Legacy Hospice & Palliative Care

Signing Officer

Name
Marc Brooks
Title
President
Phone
2763459332
Signed
2024-04-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Brooks
Formed
2004
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
6
Employees
42
Volunteers
19

Preparer

Firm
Brown Edwards & Company Llp
Address
636 SHELBY STREET 4TH FLOOR, BRISTOL, TN 37620
Preparer
C Stanley Bowles Ii
Phone
4237975564
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IRS990/ReconcilationRevenueExpnssAmt0-642064
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02073681
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01053338
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01669612
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt015000
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME IS COMPRISED OF FUND RAISING REVENUE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PAGE 3, SCHEDULE A, LINE 12
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt05108
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt077638
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0111762
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0473178
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt035116
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0702802
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt07958
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt04942
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02016
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt015925
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt029380
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt060221
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02510730
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01865670
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02254378
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02665407
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02528348
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt011824533
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt07958
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt04942
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02016
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt015925
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt029380
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt060221
IRS990ScheduleA/InvestmentIncomeCYPct00.00480
IRS990ScheduleA/InvestmentIncomePYPct00.00540
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt019938
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt05345
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt034099
IRS990ScheduleA/OtherIncome509Grp/TotalAmt059382
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98940
IRS990ScheduleA/PublicSupportPY509Pct00.98750
IRS990ScheduleA/PublicSupportTotal509Amt012512335
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt015000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt015000
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02515838
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01943308
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02366140
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt03138585
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02563464
IRS990ScheduleA/Total509Grp/TotalAmt012527335
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02543734
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01948250
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02373501
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt03154510
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02626943
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt012646938
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0206
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02444
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02650
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt023807
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023807
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0206
IRS990ScheduleG/CharitableDistributionRqrInd00
IRS990ScheduleG/CntrctWith3rdPrtyForGameRevInd00
IRS990ScheduleG/ExplanationIfNoTxt0ORGANIZATION IS NOT REQUIRED TO OBTAIN A LICENSE IN VIRGINIA BECAUSE THE ANTICIPATED PROCEEDS DID NOT EXCEED $40,000 IN A TWELVE MONTH PERIOD AS REQUIRED IN VIRGINIA FOR A LICENSE.
IRS990ScheduleG/GamingInformationGrp/CashPrizesBingoAmt02200
IRS990ScheduleG/GamingInformationGrp/CashPrizesTotalGamingAmt02200
IRS990ScheduleG/GamingInformationGrp/DirectExpenseSummaryGamingAmt07275
IRS990ScheduleG/GamingInformationGrp/GrossRevenueBingoAmt022138
IRS990ScheduleG/GamingInformationGrp/GrossRevenueTotalGamingAmt022138
IRS990ScheduleG/GamingInformationGrp/NetGamingIncomeSummaryAmt014863
IRS990ScheduleG/GamingInformationGrp/NonCashPrizesBingoAmt03817
IRS990ScheduleG/GamingInformationGrp/NonCashPrizesTotalGamingAmt03817
IRS990ScheduleG/GamingInformationGrp/OthDirectExpnssTotalGamingAmt01258
IRS990ScheduleG/GamingInformationGrp/OtherDirectExpensesBingoAmt01258
IRS990ScheduleG/GamingInformationGrp/RentFacilityCostsBingoAmt00
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborBingoInd01
IRS990ScheduleG/GamingInformationGrp/VolunteerLaborBingoPct01.00000
IRS990ScheduleG/GamingManagerCompensationAmt00
IRS990ScheduleG/GamingManagerIsEmployeeInd0X
IRS990ScheduleG/GamingManagerPersonNm0GENESIS OLIVER
IRS990ScheduleG/GamingManagerServicesProvTxt0PLAN, SCHEDULE, REQUEST SPONSORS, PURCHASE PRIZES, COORDINATE DATE/TIME, PURCHASE SUPPLIES
IRS990ScheduleG/GamingWithNonmembersInd00
IRS990ScheduleG/IndividualWithBooksNm0ALESIA HESS
IRS990ScheduleG/LicensedInd00
IRS990ScheduleG/LicenseSuspendedEtcInd00
IRS990ScheduleG/MemberOfOtherEntityInd00
IRS990ScheduleG/PersonsWithBooksUSAddress/AddressLine1Txt01963 2ND STREET
IRS990ScheduleG/PersonsWithBooksUSAddress/CityNm0RICHLANDS
IRS990ScheduleG/PersonsWithBooksUSAddress/StateAbbreviationCd0VA
IRS990ScheduleG/PersonsWithBooksUSAddress/ZIPCd024641
IRS990ScheduleG/StatesWhereGamingConductedCd0VA
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE BOARD PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT HIRE ALL EMPLOYEES ARE REQUIRED TO READ AND SIGN/DATE A CONFLICT OF INTEREST STATEMENT THAT THEY HAVE NO FINANCIAL OR PERSONAL CONFLICTS OF INTEREST WITH THE AGENCY. WHEN NEW BOARD MEMBERS ARE APPOINTED THEY ALSO SIGN THIS FORM TO ENSURE COMPLIANCE. ON AN ONGOING BASIS THE DIRECTOR EVALUATES THROUGH PRACTICE AND COMMUNICATION THAT CONFLICTS OF INTEREST ARE IDENTIFIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TOP MANAGEMENT COMPENSATION IS BASED ON: A) LOCAL / GEOGRAPHICAL COMPARATIVE SALARY RANGES FOR LIKE POSITIONS IN LIKE MARKET; B) SKILL LEVEL AND KNOWLEDGE OF THE MANAGEMENT EMPLOYEE; C) NATIONAL SALARY RANGES THAT ARE DISTRIBUTED FROM THE NHPCO; D) DUTIES OF THE POSITION AND LEVEL OF RESPONSIBILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00

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