Civic Intelligence

Care Resources

990 • Fiscal year 2019 • EIN 30-0166828

Oct 01, 2018 to Sep 30, 2019 • Filed on Feb 12, 2020

4150 Kalamazoo Ave SEGrand Rapids, MI 49508

(616) 913-2006

Siviq Scores

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

Liabilities / Assets

75th percentile

0.53x

Higher debt load relative to assets than 75% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

47th percentile

0.20x

Higher debt load relative to revenue than 47% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

39th percentile

0.5%

Higher net margin than 39% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Assets

$6,509,383

No earlier filing loaded for comparison.

Net Assets

$3,078,541

No earlier filing loaded for comparison.

Liabilities

$3,430,842

No earlier filing loaded for comparison.

Revenue

$17,487,399

No earlier filing loaded for comparison.

Expenses

$17,394,843

No earlier filing loaded for comparison.

Net Income

$92,556

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2019: $6,509,383Liabilities 2019: $3,430,842Net Assets 2019: $3,078,5412019Assets 2020: $8,630,711Liabilities 2020: $3,713,093Net Assets 2020: $4,917,6182020Assets 2021: $9,165,160Liabilities 2021: $3,678,027Net Assets 2021: $5,487,1332021Assets 2022: $13,057,362Liabilities 2022: $5,486,380Net Assets 2022: $7,570,9822022Assets 2023: $12,793,783Liabilities 2023: $4,421,905Net Assets 2023: $8,371,8782023Assets 2024: $17,464,008Liabilities 2024: $7,949,592Net Assets 2024: $9,514,4162024Assets 2025: $18,387,057Liabilities 2025: $9,678,348Net Assets 2025: $8,708,7092025

Highlighted filing

2019

Assets$6,509,383
Liabilities$3,430,842
Net Assets$3,078,541

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2019: $17,487,399Expenses 2019: $17,394,843Net Income 2019: $92,5562019Revenue 2020: $21,046,345Expenses 2020: $19,207,268Net Income 2020: $1,839,0772020Revenue 2021: $23,421,679Expenses 2021: $22,852,164Net Income 2021: $569,5152021Revenue 2022: $29,643,399Expenses 2022: $27,559,550Net Income 2022: $2,083,8492022Revenue 2023: $33,864,214Expenses 2023: $33,063,318Net Income 2023: $800,8962023Revenue 2024: $39,685,076Expenses 2024: $38,542,538Net Income 2024: $1,142,5382024Revenue 2025: $44,971,314Expenses 2025: $45,777,021Net Income 2025: -$805,7072025

Highlighted filing

2019

Revenue$17,487,399
Expenses$17,394,843
Net Income$92,556
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Feb 12, 2020
Return Version
2018v3.0
Gross Receipts
$17,487,399
Mission and Program Overview

Mission

Care Resources is a PACE (Program of All-Inclusive Care for the Elderly) organization which provides comprehensive care and social services to the indigent and frail elderly who would otherwise qualify for nursing home care under the Medicaid program.

Provide comprehensive health care and social services to the indigent and frail elderly who would otherwise qualify for nursing home care under the Medicaid and Medicare program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,589,605$4,703,474▲ $3,113,869
Investments in Publicly Traded Securities$1,837,000$0▼ $1,837,000
Savings and Temporary Cash Investments$618,241$933,531▲ $315,290
Cash and Non-Interest-Bearing Accounts$681,672$540,611▼ $141,061
Accounts Receivable$36,087$216,126▲ $180,039
Prepaid Expenses and Deferred Charges$97,263$115,641▲ $18,378
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$4,859,868$6,509,383▲ $1,649,515
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$0$1,950,000▲ $1,950,000
Accounts Payable and Accrued Expenses$1,873,883$1,480,842▼ $393,041
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,873,883$3,430,842▲ $1,556,959
Net Assets / Fund Balance
Unrestricted Net Assets$2,985,985$3,078,541▲ $92,556
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$2,985,985$3,078,541▲ $92,556
Total Liabilities and Net Assets / Fund Balance$4,859,868$6,509,383▲ $1,649,515

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,786,700$124,748$3,911,448
Equipment$716,774$235,209$951,983
Land$200,000-$200,000
Other Land Buildings$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Steve Velzen-HanerDirector-$133,193$133,193
Thomas MuszynskiChief Operating OfficerFT$128,445$128,445
Dr Rakesh PaiDirector-$104,563$104,563
Tracey McKnightChief Executive OfficerFT$25,252$25,252

Board Members and Trustees

NameTitle
Hermina BreukerDirector, Chairperson
Sr Maureen GearyDirector
Paul KarstenDirector, Treasurer
David TiesengaChief Financial Officer

Highest Paid Contractors

ContractorServicesLocationCompensation
Holland Homestaffing, management & housing2100 Raybrook St SE, Suite 300, Grand Rapids, MI 49546$6,687,834
Pinnacle Construction GroupConstruction services1000 Front St NW, Grand Rapids, MI 49504$3,113,961
University of Michigan - Metro Health HospitalPhysician & medical services5900 Byron Center Ave, Wyoming, MI 49509$1,776,164
The Lodge at Maple CreekSupportive housing services1900 32nd St SE, Grand Rapids, MI 49508$952,759
Railside Assisted Living CenterSupporting housing services7955 Byron Center Ave, Byron Center, MI 49315$833,166
Revenue and Support

Revenue Composition

Contributions and Grants
$12,477
Program Service Revenue
$17,463,973
Investment Income
$3,289
Other Revenue
$7,660
All Other Contributions
$12,477
Change in Net Assets
$92,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,487,399
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$110,000
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$17,597,399
Total Revenue per Form 990
$17,487,399
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,388,356
Salaries, Compensation, and Employee Benefits$6,487
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$5,704,934$977,339$0$6,682,273
Occupancy$373,455$11,309$0$384,764
Fees for Services Management$0$336,108$0$336,108
Depreciation Depletion$256,574$17,565$0$274,139
Information Technology$147,434$95,615$0$243,049
Conferences and Meetings$132,169$15,569$0$147,738
Other Expenses$46,192$79,572$0$125,764
Advertising$86,352$0$0$86,352
Travel$65,525$2,357$0$67,882
Office Expenses$18,737$45,906$0$64,643
Fees for Services Legal$0$55,212$0$55,212
Insurance$50,387$0$0$50,387
Fees for Services Accounting$0$26,000$0$26,000
Other Employee Benefits$6,487$0$0$6,487
Total Functional Expenses$15,676,645$1,718,198$0$17,394,843

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$17,504,843
Expenses per Audited Statements$17,394,843
Total Expenses per Form 990$17,394,843
Expenses Not Reported on Form 990$110,000
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-member in organizationmanagement services & staffingNo$6,687,834
-member in organizationmedical care and medical managementNo$1,776,164
-member in organizationsupportive housingNo$170,550
-member in organizationclaims processing servicesNo$125,085
-member in organizationbehavioral health servicesNo$59,964

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans Payable to Partners$1,950,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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 6

Care Resources is a membership corporation with members, each of which is a tax exempt 501(c)(3) organization and a public charity. Care Resources is also a public charity under Section 501(c)(3) of the IRS Code.

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

The Form 990 and appropriate schedules are prepared by the organizatoin. The completion of the Form is reported and reviewed with the organization's finance committee. The Form 990 and appropriate schedules are then submitted to the Internal Revenue Service.

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

On an annual basis each director and principal officer must complete a statement that (1) they have received a copy of the conflict of interest policy; (2) they have read and understand the policy; (3) they have agreed to comply with the policy, and (4) understand that the organization is charitable and in order to maintain its Federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Section B, Line 15

The organization purchases compensation surveys and establishes the executive compensation around the fiftieth percentile (with some flexibility) of prevailing market rates for similar positions, market trends, and the financial resources of the organization. The organization is committed to balancing fiscal stewardship with a desire to competitively compensate its personnel.

Form 990, Part VI, Section C, Line 19

The organization does not generally make its governing documents or Conflict of Interest Policy available to the public; however, such documents would be subject to public inspection if so requested. Additionally, the audited financial statements are available for public inspection, upon request.

Form 990, Part VII, Section A, Line 1A

The organization, through a contracted services provider (Holland Home), receives the services of its Chief Executive Officer. The current Chief Executive Officer was hired in October 2018. Prior to her appointment, the position was vacant and was being filled by a contracted consultant on an interim basis. The Chief Executive Officer is wholly-dedicated to Care Resources and does not provide services to any other organization. The organization, through a contracted services provider (Holland Home), receives the services of its Chief Financial Officer. The Chief Financial Officer is fractionally-dedicated to Care Resources (less than 10%) and provides services to several other organizations. The organization, through a contracted services provider (Holland Home), receives the services of its Chief Operating Officer. The Chief Operating Officer is wholly-dedicated to Care Resources and does not provide services to any other entity.

Filing and Contact Details

Filer

Filer Name
Care Resources
EIN
30-0166828
Phone
6169132006
Address
4150 Kalamazoo Ave SE, Grand Rapids, MI 49508

Signing Officer

Name
Tracey McKnight
Title
Chief Executive Officer
Phone
6169132011
Signed
2020-02-12

Organization Details

Principal Officer
Tracey McKnight
Formed
2003
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other services include contracted services for the following: Occupational Therapy ($229,559); Primary Care ($812,938); Routine Specialist ($184,046); Outpatient Care ($142,206); Recreational Therapy ($176,379); Medical Records ($133,217); Food Services/Dietary Services ($209,041); Physical Therapy ($364,895); Social Work Services ($356,032); Transportation Services ($515,069); Home Care Services ($501,690); Other Center Support Services ($1,579,642); Administration & Management Services ($977,339) and other contracted services ($642,426).

Form 990, Part XI, Line 6

Prior to its occupancy of its current facility at 4150 Kalamazoo Ave, the organization received the use of facilities at 1471 Grace St at no rent cost to the organization. The organization is responsible for a portion of utilities and related occupancy costs. The estimated fair value of the use of facilities, which has been made available by a parent organization, Holland Home, is $110,000. The use of these donated facilities ceased in August 2019.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt418500
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt53796
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt625130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt78499
IRS990/Form990PartVIISectionAGrp/PersonNm0Paul Karsten
IRS990/Form990PartVIISectionAGrp/PersonNm1Hermina Breuker
IRS990/Form990PartVIISectionAGrp/PersonNm2Sr Maureen Geary
IRS990/Form990PartVIISectionAGrp/PersonNm3Steve Velzen-Haner
IRS990/Form990PartVIISectionAGrp/PersonNm4Dr Rakesh Pai
IRS990/Form990PartVIISectionAGrp/PersonNm5Tracey McKnight
IRS990/Form990PartVIISectionAGrp/PersonNm6David Tiesenga
IRS990/Form990PartVIISectionAGrp/PersonNm7Thomas Muszynski
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt6275304
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt7119946
IRS990/Form990PartVIISectionAGrp/TitleTxt0Director, Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director, Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chief Executive Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Chief Financial Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt7Chief Operating Officer
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IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt095615
IRS990/InformationTechnologyGrp/ProgramServicesAmt0147434
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IRS990/OtherExpensesGrp/TotalAmt12477847
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IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous Revenue
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