Civic Intelligence

The Cascade Pace Inc

990 • Fiscal year 2023 • EIN 46-5362872

Jul 01, 2022 to Jun 30, 2023 • Filed on May 08, 2024

2282 Springport RoadJackson, MI 49202

(517) 768-9791

Siviq Scores

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

Liabilities / Assets

81st percentile

0.62x

Higher debt load relative to assets than 81% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

52nd percentile

0.27x

Higher debt load relative to revenue than 52% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

64th percentile

11%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$334,066

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

89th percentile

44%

Faster asset growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

114%

Faster revenue growth than 94% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Up

$9,555,959

Up $2,930,593 (+44%) from 2022

Net Assets

Up

$3,609,772

Up $2,364,460 (+190%) from 2022

Liabilities

Up

$5,946,187

Up $566,133 (+11%) from 2022

Revenue

Up

$22,272,390

Up $11,882,765 (+114%) from 2022

Expenses

Up

$19,907,930

Up $10,537,658 (+112%) from 2022

Net Income

Up

$2,364,460

Up $1,345,107 (+132%) from 2022

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2014: $1,705,959Liabilities 2014: $381,782Net Assets 2014: $1,324,1772014Assets 2015: $6,224,819Liabilities 2015: $3,643,955Net Assets 2015: $2,580,8642015Assets 2016: $4,581,278Liabilities 2016: $3,794,276Net Assets 2016: $787,0022016Assets 2017: $4,540,195Liabilities 2017: $4,849,854Net Assets 2017: -$309,6592017Assets 2018: $4,080,008Liabilities 2018: $4,597,341Net Assets 2018: -$517,3332018Assets 2019: $4,415,950Liabilities 2019: $5,426,390Net Assets 2019: -$1,010,4402019Assets 2020: $6,560,705Liabilities 2020: $5,955,899Net Assets 2020: $604,8062020Assets 2021: $7,561,855Liabilities 2021: $7,335,896Net Assets 2021: $225,9592021Assets 2022: $6,625,366Liabilities 2022: $5,380,054Net Assets 2022: $1,245,3122022Assets 2023: $9,555,959Liabilities 2023: $5,946,187Net Assets 2023: $3,609,7722023Assets 2024: $9,769,552Liabilities 2024: $4,117,340Net Assets 2024: $5,652,2122024

Highlighted filing

2023

Assets$9,555,959
Liabilities$5,946,187
Net Assets$3,609,772

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2014: $1,350,950Expenses 2014: $26,773Net Income 2014: $1,324,1772014Revenue 2015: $2,104,584Expenses 2015: $847,897Net Income 2015: $1,256,6872015Revenue 2016: $2,235,057Expenses 2016: $4,028,919Net Income 2016: -$1,793,8622016Revenue 2017: $5,325,162Expenses 2017: $6,425,492Net Income 2017: -$1,100,3302017Revenue 2018: $8,976,940Expenses 2018: $9,184,614Net Income 2018: -$207,6742018Revenue 2019: $12,260,572Expenses 2019: $12,753,678Net Income 2019: -$493,1062019Revenue 2020: $18,569,566Expenses 2020: $16,954,320Net Income 2020: $1,615,2462020Revenue 2021: $19,698,709Expenses 2021: $20,077,556Net Income 2021: -$378,8472021Revenue 2022: $10,389,625Expenses 2022: $9,370,272Net Income 2022: $1,019,3532022Revenue 2023: $22,272,390Expenses 2023: $19,907,930Net Income 2023: $2,364,4602023Revenue 2024: $23,405,161Expenses 2024: $21,362,721Net Income 2024: $2,042,4402024

Highlighted filing

2023

Revenue$22,272,390
Expenses$19,907,930
Net Income$2,364,460
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 8, 2024
Return Version
2022v5.0
Gross Receipts
$22,299,335
Mission and Program Overview

Mission

To provide participants the care and treatment they need to remain independent and in their home in the community for as long as possible. Most participants are low-income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,607,291$4,864,789▲ $3,257,498
Land, Buildings, and Equipment, Net$4,674,809$4,596,661▼ $78,148
Prepaid Expenses and Deferred Charges$62,166$60,499▼ $1,667
Accounts Receivable$281,100$34,010▼ $247,090
Total Assets$6,625,366$9,555,959▲ $2,930,593
Liabilities
Accounts Payable and Accrued Expenses$2,246,698$2,530,607▲ $283,909
Tax Exempt Bond Liabilities$2,561,056$2,181,675▼ $379,381
Deferred Revenue-$954,405-
Other Liabilities$572,300$279,500▼ $292,800
Total Liabilities$5,380,054$5,946,187▲ $566,133
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,245,312$3,609,772▲ $2,364,460
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$1,245,312$3,609,772▲ $2,364,460
Total Liabilities and Net Assets / Fund Balance$6,625,366$9,555,959▲ $2,930,593

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,096,830$1,193,349$5,290,179
Equipment$296,681$520,581$817,262
Land$203,150-$203,150
Other Land Buildings$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Aram KoltookianPrimary Care PhysicianFT$260,322$35,611$295,933
Michael FoustMedical DirectorFT$211,680$9,982$221,662
Susan DeckerExecutive DirectorFT$182,261$20,515$202,776
Lisa BarancinPhysician AssistantFT$119,935$34,208$154,143
Cynthia MercierPhysical TherapistFT$128,896$14,927$143,823
Robyn Abbey-hardestyCenter DirectorFT$111,539$3,726$115,265

Board Members and Trustees

NameTitle
Luke ReynoldsChair
Melissa LatterDirector
Michelle HendersonDirector
Julie WetherbySecretary
Kim HoppeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Henry Ford Hospital - JacksonMedical ServicesPO BOX 670884, Detroit, MI 48267$3,324,048
Trhc Tpa LLCPharmacy228 STRAWBRIDGE DRIVE, Moorestown, NJ 08057$2,492,364
Jackson Community Ambulance INCTransportation ServicesPO BOX 2351 DEPT 300, Indianapolis, IN 46206$1,202,997
Mission Point Of Jackson AlfHousing And Care Services703 ROBINSON ROAD, Jackson, MI 49203$331,036
Country Living Of Hillsdale LLCHousing And Care Services101 VILLAGE GREEN BLVD, Hillsdale, MI 49242$265,900
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$22,065,063
Investment Income
$1,545
Other Revenue
$205,782
All Other Contributions
$0
Change in Net Assets
$2,364,460

Audited Revenue Reconciliation

Revenue per Audited Statements
$22,299,335
Revenue Not Reported on Financial Statements
$-26,945
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-26,945
Total Revenue per Audited Statements
$22,299,335
Total Revenue per Form 990
$22,272,390
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,145,762
Salaries, Compensation, and Employee Benefits$5,762,168
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$8,797,981$266,469$0$9,064,450
Other Salaries and Wages$3,847,911$690,527$0$4,538,438
Fees for Services Management$0$860,204$0$860,204
Other Employee Benefits$481,094$117,944$0$599,038
Payroll Taxes$281,914$62,662$0$344,576
Depreciation Depletion$253,747$31,327$0$285,074
Travel$198,605$8,188$0$206,793
Current Officers, Directors, Trustees, and Key Employees-$191,130-$191,130
Information Technology$151,298$18,679$0$169,977
Insurance$0$142,148$0$142,148
Pension Plan Contributions$75,915$13,071$0$88,986
Occupancy$75,018$5,615$0$80,633
Interest$67,240$8,301$0$75,541
Fees for Services Accounting$0$33,375$0$33,375
Other Expenses$27,587$3,406$0$30,993
All Other Expenses$16,350$9,015$0$25,365
Office Expenses$16,940$2,091$0$19,031
Fees for Services Legal$0$17,026$0$17,026
Fees for Services Lobbying$6,967$860-$7,827
Total Functional Expenses$17,422,721$2,485,209$0$19,907,930

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,934,875
Expenses per Audited Statements$19,907,930
Total Expenses per Form 990$19,907,930
Expenses Not Reported on Form 990$26,945
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Part D Reserve Accrual$279,500

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMichigan Strategic Fund2014-12-15$4,000,000Construction of pace facility

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$4,000,000$468,177$1,818,325$154,060

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

United methodist retirement communities and region 2 area agency on aging are the corporate members of the cascade pace inc.

Form 990, Part VI, Section A, Line 7A

The board of directors shall be elected at the annual meeting of the members. Each member may appoint 1 director for every full 20% membership interest held by such member.

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

Draft of 990 is reviewed by the director of finance of the organization. Finalized return redacted to exclude payroll data is sent to the executive director of the organization and the board of directors for comment prior to submission to the internal revenue service.

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

The conflict of interest policy covers the cascade pace board of trustees, executive director, and administrative staff. The policy is distributed annually to these individuals. At that time each individual is given the opportunity to disclose real or potential conflicts of interest, which are kept confidential. Any transaction between cascade pace and an entity affected by a conflict of interest of any cascade pace employee or trustee shall not be void but shall be valid if 1) the transaction is reasonable, 2) the material facts of the conflict are disclosed to the board of trustees 3) the transaction is discussed and voted upon by the board outside the presence of the affected individual, 4) the transaction is approved and 5) the minutes of the board reflect compliance with the policy. Individuals with a conflict are not permitted to be present during discussions or any vote regarding the conflicted transaction.

Form 990, Part VI, Section B, Line 15

Annually, brio living services' ("brio") human resources department prepares a comparative analysis utilizing data from leading age and chief executives of multi-facility organizations (cemo). In addition, every three years brio hires an independent consultant to perform a compensation study. All findings are presented to the compensation evaluation committee of the board of trustees, along with an annual evaluation of the executive director's performance and goals for the coming year. The evaluation committee recommends a salary increase to the cascade pace board of directors for approval. The deliberation and determination of compensation is documented in the organization's board minutes. Certain board members are paid by related tax exempt organization, brio. Annually, brio's human resources department prepares a comparative analysis utilizing data from leading age and chief executives of multi -facility organizations (cemo). In addition, every three years the organization hires an independent consultant to perform a compensation study (this was completed in 2020). All findings are presented to the team member practices committee. Board member receives a performance evaluation and assessment of achievement of goals and is then provided an increase which is budgeted and approved by the board of directors.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Cascade Pace Inc
EIN
46-5362872
Phone
5177689791
Address
2282 SPRINGPORT ROAD, JACKSON, MI 49202
Doing Business As
Thome Pace

Signing Officer

Name
Kalen Carlson
Title
Treasurer/CFO
Phone
6162021591
Signed
2024-05-08

Organization Details

Principal Officer
Luke Reynolds
Formed
2014
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
1
Employees
107
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Purchased services and contract labor: program service expenses 8,797,981. Management and general expenses 266,469. Fundraising expenses 0. Total expenses 9,064,450. Total other fees on form 990, part ix, line 11g, col a 9,064,450.

Financial Statement Notes

Schedule D, Part XI, Line 4B

Rental Expenses -26,945

Schedule D, Part XII, Line 2D

Rental Expenses 26,945

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