Civic Intelligence

Memorycare Inc

990 • Fiscal year 2018 • EIN 56-2178294

Jan 01, 2018 to Dec 31, 2018 • Filed on May 14, 2019

Organization Profilewww.memorycare.org

View Organization Page

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

13th percentile

0.00x

Higher debt load relative to assets than 13% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

13th percentile

0.01x

Higher debt load relative to revenue than 13% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

85th percentile

34%

Higher net margin than 85% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

64th percentile

5.7%

Faster asset growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

16th percentile

-14%

Faster revenue growth than 16% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets13th percentile

Assets

Up

$9,639,747

Up $516,538 (+5.7%) from 2017

Net Assets

Up

$9,605,515

Up $503,304 (+5.5%) from 2017

Liabilities

Up

$34,232

Up $13,234 (+63%) from 2017

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin85th percentile

Revenue

Down

$2,420,673

Down $394,086 (-14%) from 2017

Expenses

Up

$1,588,816

Up $88,743 (+5.9%) from 2017

Net Income

Down

$831,857

Down $482,829 (-37%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

2018

Assets$9,639,747
Liabilities$34,232
Net Assets$9,605,515
Open 2018 Filing

Operations Trend

Revenue Growth16th percentile

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

2018

Revenue$2,420,673
Expenses$1,588,816
Net Income$831,857
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 14, 2019
Return Version
2018v3.1
Gross Receipts
$2,420,673
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.

MemoryCare's mission is three-fold: to provide specialized medical care to older adults with cognitive loss; to support caregivers with education, counseling. See MemoryCare's entire mission statement on page 2

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,957,196$3,707,254▲ $750,058
Savings and Temporary Cash Investments$1,193,858$837,833▼ $356,025
Investments Other Securities-$501,159-
Cash and Non-Interest-Bearing Accounts$86,400$108,420▲ $22,020
Pledges and Grants Receivable$241,093$100,867▼ $140,226
Accounts Receivable$95,292$99,866▲ $4,574
Prepaid Expenses and Deferred Charges$52,832$45,426▼ $7,406
Investments in Publicly Traded Securities$20,771--
Total Assets$9,123,209$9,639,747▲ $516,538
Other Assets Total$4,475,767$4,238,922▼ $236,845
Liabilities
Accounts Payable and Accrued Expenses$20,998$34,232▲ $13,234
Total Liabilities$20,998$34,232▲ $13,234
Net Assets / Fund Balance
Unrestricted Net Assets$8,764,372$9,397,385▲ $633,013
Temporarily Rstr Net Assets$337,839$208,130▼ $129,709
Total Net Assets Fund Balance$9,102,211$9,605,515▲ $503,304
Total Liabilities and Net Assets / Fund Balance$9,123,209$9,639,747▲ $516,538

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,472,125$61,183$3,533,308
Equipment$208,939$97,514$306,453
Other Land Buildings$26,190$903$27,093
Land$0--
Other Assets Org$4,238,922--
Other Securities$501,159--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$4,475,767-▼ $213,476-$4,238,922
2017$4,224,298$250▲ $624,375$350,000$4,475,767
2016$4,664,677-▲ $261,401$677,628$4,224,298
2015$4,780,052-▲ $22,609$112,149$4,664,677
2014$4,285,190$363,452▲ $156,588-$4,780,052
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
David C Johnson MDEmployeeFT$152,025$30,624$182,649
David C Johnson MD--$152,025$30,624$182,649
Virginia Templeton MDExecutive DirectorFT$154,118$14,059$168,177
Virginia Templeton MD--$154,118$14,059$168,177
Thomas S Kaluzynski MDEmployeeFT$133,797$5,383$139,180
Margaret Noel MD - Ex OfficioFounderFT$98,158$11,821$109,979
Amy Cohen MDFormer Board MemberFT$72,783$2,896$75,679

Board Members and Trustees

NameTitle
David Key CPAPresident
Jerry De LandVice-President
Andrew Atherton EsqBoard Member
Becky AndersonBoard Member
Carol LawrenceBoard Member
Caroline Knox EsqBoard Member
Claire SmithBoard Member
Mark BaileyBoard Member
Tom OwensBoard Member
Rebekah Lowe CLC ACCTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Judd BuildersConstruction of new building2349 Hendersonville Road, Arden, NC 28704$684,168
Revenue and Support

Revenue Composition

Contributions and Grants
$1,495,180
Program Service Revenue
$823,397
Investment Income
$97,492
Other Revenue
$4,604
All Other Contributions
$1,483,495
Change in Net Assets
$831,857

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded8$96,811Fair Market Value
Other Non Cash Contri Table9$23,395Fair Market Value
Total Noncash Contributions17$120,206-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,420,673
Revenue Not Reported on Form 990
$-183,140
Total Revenue per Audited Statements
$2,237,533
Total Revenue per Form 990
$2,420,673
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,270,554
Other Expenses$318,262
Total Fundraising Expense$77,731
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$881,438$26,991$28,471$936,900
Current Officers, Directors, Trustees, and Key Employees$134,541$16,818$16,821$168,180
Depreciation Depletion$78,959$8,773$0$87,732
All Other Expenses$37,707$26,864$12,762$77,333
Payroll Taxes$70,201$2,956$3,082$76,239
Other Employee Benefits$51,106$1,756$1,854$54,716
Insurance$35,024$350$365$35,739
Pension Plan Contributions$32,540$957$1,022$34,519
Office Expenses$26,886$1,150$1,176$29,212
Fees for Services Accounting$0$10,700$0$10,700
Fees for Services Other$1,982$6,919$1,702$10,603
Information Technology$7,735$325$340$8,400
Occupancy$6,002$252$264$6,518
Travel$2,572$0$0$2,572
Other Expenses$2,444$0$0$2,444
Total Functional Expenses$1,404,080$107,005$77,731$1,588,816

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,734,229
Expenses per Audited Statements$1,588,816
Total Expenses per Form 990$1,588,816
Expenses Not Reported on Form 990$145,413
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
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Virginia Templeton MD
Formed
2000
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
10
Employees
24
Volunteers
19

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST SUITE 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 and had an opportunity to have questions addressed prior to the 990 filing.”

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 annually.”

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 highly compensated 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. The Form 990 is available on the GuideStar website.”

Form 990, Part IX, Line 24E

“Uncollectible Account Expense 26705. 0. 26705. 0.”

Form 990, Part IX, Line 24E

“Staff Appreciation 2068. 2068. 0. 0.”

Form 990, Part IX, Line 24E

“Other Expenses 8194. 7869. 159. 166.”

Form 990, Part IX, Line 24E

“Building Expenses 38384. 25788. 0. 12596.”

Form 990, Part IX, Line 24E

“Contributed Goods 1982. 1982. 0. 0.”

Financial Statement Notes

Pt X, Line 2

“MemoryCare is 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 no income from unrelated business activities in 2018 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.”

Pt V, Line 4

“The "MemoryCare Flexible Endowment Fund" is a quasi-endowment designated by the Board of Directors to provide investment income for MemoryCare's operating income.”

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IRS990/Form990PartVIISectionAGrp/PersonNm1Jerry De Land
IRS990/Form990PartVIISectionAGrp/PersonNm2Rebekah Lowe CLC ACC
IRS990/Form990PartVIISectionAGrp/PersonNm3Andrew Atherton Esq
IRS990/Form990PartVIISectionAGrp/PersonNm4Becky Anderson
IRS990/Form990PartVIISectionAGrp/PersonNm5Mark Bailey
IRS990/Form990PartVIISectionAGrp/PersonNm6Caroline Knox Esq
IRS990/Form990PartVIISectionAGrp/PersonNm7Carol Lawrence
IRS990/Form990PartVIISectionAGrp/PersonNm8Tom Owens
IRS990/Form990PartVIISectionAGrp/PersonNm9Claire Smith
IRS990/Form990PartVIISectionAGrp/PersonNm10Margaret Noel MD - Ex Officio
IRS990/Form990PartVIISectionAGrp/PersonNm11Virginia Templeton MD
IRS990/Form990PartVIISectionAGrp/PersonNm12Amy Cohen MD
IRS990/Form990PartVIISectionAGrp/PersonNm13Thomas S Kaluzynski MD
IRS990/Form990PartVIISectionAGrp/PersonNm14David C Johnson MD
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IRS990/MissionDesc0MemoryCare'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.
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IRS990/PrincipalOfficerNm0Virginia Templeton MD
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IRS990/ProgSrvcAccomActy2Grp/Desc0We help coordinate available community resources, assist low income older adults with applications for medication assistance, and counsel individual/families about end of life decision making. All families are provided with a detailed written care plan that is amended as the illness 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 professional health care providers on these topics as well. In 2018, MemoryCare provided comprehensive services to 1034 patients and 3527 caregivers. Ninety-nine percent of caregivers surveyed expressed satisfaction with MemoryCare's program and that they would recommend MemoryCare to others. Families were seen in our Asheville office,rural satellite clinics in Burnsville and Waynesville, and through our
IRS990/ProgSrvcAccomActy3Grp/Desc0home visit program in Buncombe County. Our community education and outreach efforts to students, community members, and healthcare professionals reached 2077 individuals and our low income minority program provided free health and cognitive screenings to 23 individuals. Our family caregiver education program, "Caregiver College," reached 76 individuals in person and 53 through the online professional version. Our MemoryCaregivers Network continued to offer three peer caregiver support groups to all caregivers of a loved one with dementia in the community and our electronic newsletter was sent to over 2,300 individuals. We maintain a Resource Library for the public with information about dementia, dementia care, healthy aging, and more. In 2018 the organization moved into a new facility with room to grow its clinical and educational programs.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part III, Line 12 Description: Other Income 2014: 4473. 2015: 2382. 2016: 1909. 2017: 2028. 2018: 4604.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt III Ln 12
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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,639,747
Liabilities
$34,232
Net assets
$9,605,515
Revenue
$2,420,673
Expenses
$1,588,816
Net income
$831,857
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
2018Detailed filing. Detailed filing data is available for this year.$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