Civic Intelligence

Memorycare Inc

990 • Fiscal year 2014 • EIN 56-2178294

Jan 01, 2014 to Dec 31, 2014 • Filed on May 28, 2015

100 Far Horizons LaneAsheville, NC 28803

(828) 771-2219

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

11th percentile

0.01x

Higher debt load relative to revenue than 11% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

78th percentile

19%

Higher net margin than 78% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

62nd percentile

6.2%

Faster asset growth than 62% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

22nd percentile

-6.7%

Faster revenue growth than 22% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Assets

Up

$5,885,733

Up $344,215 (+6.2%) from 2013

Net Assets

Up

$5,869,630

Up $351,258 (+6.4%) from 2013

Liabilities

Down

$16,103

Down $7,043 (-30%) from 2013

Revenue

Down

$1,503,763

Down $107,345 (-6.7%) from 2013

Expenses

Down

$1,221,948

Down $7,837 (-0.6%) from 2013

Net Income

Down

$281,815

Down $99,508 (-26%) from 2013

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 2011: $4,222,761Liabilities 2011: $58,488Net Assets 2011: $4,164,2732011Assets 2012: $5,224,402Liabilities 2012: $10,226Net Assets 2012: $5,214,1762012Assets 2013: $5,541,518Liabilities 2013: $23,146Net Assets 2013: $5,518,3722013Assets 2014: $5,885,733Liabilities 2014: $16,103Net Assets 2014: $5,869,6302014Assets 2015: $5,859,614Liabilities 2015: $21,407Net Assets 2015: $5,838,2072015Assets 2016: $7,284,953Liabilities 2016: $25,240Net Assets 2016: $7,259,7132016Assets 2017: $9,123,209Liabilities 2017: $20,998Net Assets 2017: $9,102,2112017Assets 2018: $9,639,747Liabilities 2018: $34,232Net Assets 2018: $9,605,5152018Assets 2019: $10,992,403Liabilities 2019: $256,558Net Assets 2019: $10,735,8452019Assets 2020: $13,114,913Liabilities 2020: $232,094Net Assets 2020: $12,882,8192020Assets 2021: $14,980,122Liabilities 2021: $279,167Net Assets 2021: $14,700,9552021Assets 2022: $13,991,458Liabilities 2022: $248,556Net Assets 2022: $13,742,9022022Assets 2023: $15,689,996Liabilities 2023: $310,971Net Assets 2023: $15,379,0252023Assets 2024: $16,644,020Liabilities 2024: $256,949Net Assets 2024: $16,387,0712024

Highlighted filing

2014

Assets$5,885,733
Liabilities$16,103
Net Assets$5,869,630

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2011: $1,121,233Expenses 2011: $1,013,515Net Income 2011: $107,7182011Expenses 2012: $1,123,7972012Revenue 2013: $1,611,108Expenses 2013: $1,229,785Net Income 2013: $381,3232013Revenue 2014: $1,503,763Expenses 2014: $1,221,948Net Income 2014: $281,8152014Revenue 2015: $1,477,730Expenses 2015: $1,418,735Net Income 2015: $58,9952015Revenue 2016: $2,692,174Expenses 2016: $1,414,866Net Income 2016: $1,277,3082016Revenue 2017: $2,814,759Expenses 2017: $1,500,073Net Income 2017: $1,314,6862017Revenue 2018: $2,420,673Expenses 2018: $1,588,816Net Income 2018: $831,8572018Revenue 2019: $2,459,138Expenses 2019: $1,789,464Net Income 2019: $669,6742019Revenue 2020: $3,661,833Expenses 2020: $2,112,798Net Income 2020: $1,549,0352020Revenue 2021: $3,451,184Expenses 2021: $2,218,981Net Income 2021: $1,232,2032021Revenue 2022: $3,073,049Expenses 2022: $2,437,381Net Income 2022: $635,6682022Revenue 2023: $3,173,181Expenses 2023: $2,540,724Net Income 2023: $632,4572023Revenue 2024: $3,194,171Expenses 2024: $2,794,369Net Income 2024: $399,8022024

Highlighted filing

2014

Revenue$1,503,763
Expenses$1,221,948
Net Income$281,815
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 28, 2015
Return Version
2014v5.0
Gross Receipts
$1,503,763
Mission and Program Overview

Mission

MemoryCare's mission is three-fold: to provide specialized medical care to older adults with cognitive loss; to support caregivers with education, counseling, and improved access to services; and to provide community education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$825,827$768,503▼ $57,324
Accounts Receivable$77,784$98,848▲ $21,064
Pledges and Grants Receivable$146,053$97,211▼ $48,842
Prepaid Expenses and Deferred Charges$77,496$60,067▼ $17,429
Land, Buildings, and Equipment, Net$48,467$40,786▼ $7,681
Cash and Non-Interest-Bearing Accounts$80,701$37,864▼ $42,837
Investments in Publicly Traded Securities-$2,402-
Total Assets$5,541,518$5,885,733▲ $344,215
Other Assets Total$4,285,190$4,780,052▲ $494,862
Liabilities
Accounts Payable and Accrued Expenses$23,146$16,103▼ $7,043
Total Liabilities$23,146$16,103▼ $7,043
Net Assets / Fund Balance
Unrestricted Net Assets$4,933,458$5,306,273▲ $372,815
Temporarily Rstr Net Assets$584,914$563,357▼ $21,557
Total Net Assets Fund Balance$5,518,372$5,869,630▲ $351,258
Total Liabilities and Net Assets / Fund Balance$5,541,518$5,885,733▲ $344,215

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$39,288$88,679$127,967
Leasehold Improvements$1,498$9,521$11,019
Other Assets Org$4,780,052--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$4,285,190$363,452▲ $156,588-$4,780,052
2013$3,600,854$713,297▲ $504,634$511,094$4,285,190
2012$2,955,825$265,399▲ $399,273-$3,600,854
2011$2,738,984$303,097▼ $69,286-$2,955,825
2010$2,439,965$49,120▲ $265,195-$2,738,984
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Virginia Templeton MdExecutive DirectorFT$145,994$11,672$157,666
Virginia Templeton Md--$141,794$15,872$157,666
Thomas S Kaluzynski MdEmployeeFT$128,127$15,717$143,844
Margaret Noel Morris MdFounder/Director EmeritaFT$97,042$11,951$108,993

Board Members and Trustees

NameTitle
Pam TurnerPresident
Eleanor OwenVice-President
Betty Doll Mba CltcBoard Member
David Key CPABoard Member
David WhildenBoard Member
Doris LoomisBoard Member
Georgia Crump Lpn GrnBoard Member
John Bernhardt Ma RnBoard Member
Mark BaileyBoard Member
Tom OwensBoard Member
Hugh MccollumSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$837,915
Program Service Revenue
$597,970
Investment Income
$63,405
Other Revenue
$4,473
All Other Contributions
$819,740
Change in Net Assets
$281,815

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,503,763
Revenue Not Reported on Form 990
$93,900
Total Revenue per Audited Statements
$1,597,663
Total Revenue per Form 990
$1,503,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$968,888
Other Expenses$253,060
Total Fundraising Expense$74,335
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$525,162$21,307$36,974$583,443
Current Officers, Directors, Trustees, and Key Employees$239,183$18,128$12,379$269,690
Payroll Taxes$56,400$2,904$3,688$62,992
Other Employee Benefits$36,552$1,781$2,599$40,932
Insurance$34,304$274$350$34,928
Office Expenses$32,059$551$719$33,329
Occupancy$29,546$1,522$1,932$33,000
All Other Expenses$5,982$25,915$262$32,159
Depreciation Depletion$19,283$2,142$0$21,425
Information Technology$12,196$628$798$13,622
Pension Plan Contributions$10,685$335$811$11,831
Fees for Services Accounting$0$9,150$0$9,150
Other Expenses$8,533$0$0$8,533
Fees for Services Other$7,926$23$29$7,978
Travel$3,839$0$0$3,839
Total Functional Expenses$1,060,403$87,210$74,335$1,221,948

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,315,848
Expenses per Audited Statements$1,221,948
Total Expenses per Form 990$1,221,948
Expenses Not Reported on Form 990$93,900
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
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
MemoryCare Inc
EIN
56-2178294
Phone
8287712219
Address
100 Far Horizons Lane, Asheville, NC 28803

Signing Officer

Name
Virginia Templeton Md
Title
Executive Director
Phone
8287712219
Signed
2015-05-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Virginia Templeton Md
Formed
2000
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
11
Employees
19
Volunteers
29

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST STE 1, ASHEVILLE, NC 28801-1434
Preparer
Stephen C Corliss
Phone
8282360206
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The board received a copy of the 990 prior to the May 13, 2015 board meeting where they had an opportunity to have questions addressed.

Pt VI, Line 12C

Board members are made aware of the conflict of interest policy by instruction at MemoryCare's annual meeting and the requirement that members sign a conflict of interest form at this annual meeting each year.

Pt VI, Line 15A

The process for determining compensation for the executive director involves review of a regional medical salary and benefits survey and salary surveys from the NC Center for Nonprofits and NC Medical Group Managers.

Pt VI, Line 15B

The process for determining compensation for key employees involves review of a regional medical salary and benefits survey and salary surveys from the NC Center for Nonprofits and NC Medical Group Managers.

Pt VI, Line 18

Forms 1023 and 990 are made available upon request.

Pt VI, Line 19

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

Pt XI

Net investment gains of $69,443 on funds with the Community Foundation of WNC.

Form 990EZ, Part II, Line 24

Accounts receivable - net grants receivable - net investments

Form 990EZ, Part II, Line 26

Accounts payable & accrued expenses

Form 990, Part IX, Line 24F

Bad debt expense 25605. 0. 25605. 0. Staff appreciation 2089. 1985. 104. 0. Other expenses 4465. 3997. 206. 262.

Financial Statement Notes

Pt X, Line 2

MemoryCare is generally exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however, income from certain activities not related to the organization's tax-exempt purpose may be subject to taxation as unrelated business income. The organization had less than $1,000 of income from unrelated business activities in the year ended December 31, 2014 and was, therefore, not required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). The organization believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization's Forms 990 for 2011, 2012 and 2013 are subject to examination by the IRS, generally for three years after being filed.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
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IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt11Founder/Dir. Emerita
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IRS990/MissionDesc0MemoryCare's mission is three-fold: to provide specialized medical care to
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IRS990/PrincipalOfficerNm0VIRGINIA TEMPLETON MD
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IRS990/ProgramServiceRevenueGrp/Desc1Caregiver fees
IRS990/ProgramServiceRevenueGrp/Desc2Other clinical revenue
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0307090
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1284287
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26593
IRS990/ProgSrvcAccomActy2Grp/Desc0AND SUPPORT. WE ALSO HELP COORDINATE AVAILABLE COMMUNITY RESOURCES, HELP LOW INCOME ELDERLY APPLY FOR MEDICAL ASSISTANCE, AND COUNSEL FAMILIES REGARDING END OF LIFE DECISION MAKING. ALL FAMILIES ARE PROVIDED WITH A DETAILED WRITTEN CARE PLAN THAT IS AMENDED AS THE DEMENTIA PROGRESSES AND HAVE FULL ACCESS TO OUR RESOURCE LIBRARY AND STAFF FOR EDUCATIONAL MATERIAL. MEMORYCARE STAFF IS DEVOTED TO PROVIDING COMMUNITY EDUCATION ON DEMENTIA, CAREGIVING, AND AGING RELATED HEALTH ISSUES. WE TEACH PROFES
IRS990/ProgSrvcAccomActy3Grp/Desc0PROGRAM. FAMILIES WERE SEEN IN OUR ASHEVILLE OFFICE AND OUR RURAL SATELLITE CLINICS IN BURNSVILLE AND WAYNESVILLE AS WELL AS THROUGH OUR HOME VISIT PROGRAM IN BUNCOMBE COUNTY. AS A PART OF OUR MISSION TO EDUCATE THE COMMUNITY, 1,755 INDIVIDUALS RECEIVED DIRECT EDUCATION ABOUT DEMENTIA AND HEALTHY AGING INCLUDING STUDENTS, COMMUNITY MEMBERS, AND PROFESSIONAL HEALTH CARE PROVIDERS. OUR LOW INCOME MINORITY PROGRAM PROVIDED FREE HEALTH AND COGNITIVE SCREENINGS TO 54 INDIVIDUALS THIS YEAR AND OUR PRO
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IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0281815
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part II, Line 10 Description: Patient Care Fees 2010: 260152. 2011: 290772. 2012: 257287. 2013: 250629. 2014: 307090. Description: Caregiver Fees 2010: 208530. 2011: 240611. 2012: 259857. 2013: 308904. 2014: 284287. Description: Other Program Income 2010: 38724. 2011: 44588. 2012: 40988. 2013: 42867. 2014: 6593.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt II Ln 10
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$0.26$16.4$3.19$2.79$0.40
2023Summary only. Only limited summary data is available for this year.$15.7$0.31$15.4$3.17$2.54$0.63
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$0.25$13.7$3.07$2.44$0.64
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.0$0.28$14.7$3.45$2.22$1.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.1$0.23$12.9$3.66$2.11$1.55
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.0$0.26$10.7$2.46$1.79$0.67
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.64$0.03$9.61$2.42$1.59$0.83
2017Summary only. Only limited summary data is available for this year.$9.12$0.02$9.10$2.81$1.50$1.31
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.28$0.03$7.26$2.69$1.41$1.28
2015Summary only. Only limited summary data is available for this year.$5.86$0.02$5.84$1.48$1.42$0.06
2014Detailed filing. Detailed filing data is available for this year.$5.89$0.02$5.87$1.50$1.22$0.28
2013Detailed filing. Detailed filing data is available for this year.$5.54$0.02$5.52$1.61$1.23$0.38
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.22$0.01$5.21$1.12
2011Summary only. Only limited summary data is available for this year.$4.22$0.06$4.16$1.12$1.01$0.11