Civic Intelligence

The Presbyterian Home at Charlotte Inc

EIN 56-6064186 • 501(c)3 • Charlotte, NC

Profile

To provide secure retirement living in an atmosphere of Christian love. We enrich the quality of life of our residents by offering continuity of care within a nurturing environment while seeking opportunities to serve each other and the greater community.

Refreshing map…

5100 Sharon RoadCharlotte, NC 28210

www.sharontowers.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.67x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

3.65x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

40th percentile

1.6%

Higher net margin than 40% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

27th percentile

$320,447

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

34th percentile

2.6%

Faster asset growth than 34% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

14%

Faster revenue growth than 65% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$228,997,968

Up $5,733,383 (+2.6%) from 2023

Liabilities

Up

$153,756,314

Up $1,829,371 (+1.2%) from 2023

Net Assets

Up

$75,241,654

Up $3,904,012 (+5.5%) from 2023

Revenue

Up

$42,177,812

Up $5,315,960 (+14%) from 2023

Expenses

Up

$41,504,221

Up $5,729,971 (+16%) from 2023

Net Income

Down

$673,591

Down $414,011 (-38%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $52,296,602Liabilities 2010: $29,590,663Net Assets 2010: $22,705,9392010Assets 2011: $52,402,623Liabilities 2011: $28,666,053Net Assets 2011: $23,736,5702011Assets 2012: $55,321,774Liabilities 2012: $28,300,737Net Assets 2012: $27,021,0372012Assets 2013: $57,368,225Liabilities 2013: $26,525,636Net Assets 2013: $30,842,5892013Assets 2014: $63,597,536Liabilities 2014: $30,986,000Net Assets 2014: $32,611,5362014Assets 2015: $65,620,149Liabilities 2015: $30,710,812Net Assets 2015: $34,909,3372015Assets 2016: $70,194,169Liabilities 2016: $33,500,158Net Assets 2016: $36,694,0112016Assets 2017: $80,978,073Liabilities 2017: $39,492,347Net Assets 2017: $41,485,7262017Assets 2018: $87,538,008Liabilities 2018: $40,654,722Net Assets 2018: $46,883,2862018Assets 2019: $177,552,190Liabilities 2019: $120,570,417Net Assets 2019: $56,981,7732019Assets 2020: $190,422,797Liabilities 2020: $126,255,168Net Assets 2020: $64,167,6292020Assets 2021: $213,857,347Liabilities 2021: $145,253,172Net Assets 2021: $68,604,1752021Assets 2022: $213,210,140Liabilities 2022: $149,137,039Net Assets 2022: $64,073,1012022Assets 2023: $223,264,585Liabilities 2023: $151,926,943Net Assets 2023: $71,337,6422023Assets 2024: $228,997,968Liabilities 2024: $153,756,314Net Assets 2024: $75,241,6542024

Highlighted filing

2024

Assets$228,997,968
Liabilities$153,756,314
Net Assets$75,241,654

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0Expenses 2010: $16,236,6942010Revenue 2011: $17,822,809Expenses 2011: $15,192,381Net Income 2011: $2,630,4282011Expenses 2012: $15,458,7032012Revenue 2013: $19,730,520Expenses 2013: $15,982,061Net Income 2013: $3,748,4592013Revenue 2014: $19,810,828Expenses 2014: $17,465,606Net Income 2014: $2,345,2222014Revenue 2015: $21,966,668Expenses 2015: $19,069,576Net Income 2015: $2,897,0922015Revenue 2016: $21,482,529Expenses 2016: $20,198,011Net Income 2016: $1,284,5182016Revenue 2017: $24,721,289Expenses 2017: $21,610,071Net Income 2017: $3,111,2182017Revenue 2018: $30,900,954Expenses 2018: $23,324,129Net Income 2018: $7,576,8252018Revenue 2019: $31,874,363Expenses 2019: $24,124,495Net Income 2019: $7,749,8682019Revenue 2020: $30,674,353Expenses 2020: $24,791,289Net Income 2020: $5,883,0642020Revenue 2021: $32,938,092Expenses 2021: $26,085,646Net Income 2021: $6,852,4462021Revenue 2022: $28,589,138Expenses 2022: $28,080,307Net Income 2022: $508,8312022Revenue 2023: $36,861,852Expenses 2023: $35,774,250Net Income 2023: $1,087,6022023Revenue 2024: $42,177,812Expenses 2024: $41,504,221Net Income 2024: $673,5912024

Highlighted filing

2024

Revenue$42,177,812
Expenses$41,504,221
Net Income$673,591

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$229$154$75.2$42.2$41.5$0.67
2023Summary only. Only limited summary data is available for this year.$223$152$71.3$36.9$35.8$1.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$213$149$64.1$28.6$28.1$0.51
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$214$145$68.6$32.9$26.1$6.85
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$190$126$64.2$30.7$24.8$5.88
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$178$121$57.0$31.9$24.1$7.75
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$87.5$40.7$46.9$30.9$23.3$7.58
2017Summary only. Only limited summary data is available for this year.$81.0$39.5$41.5$24.7$21.6$3.11
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.2$33.5$36.7$21.5$20.2$1.28
2015Detailed filing. Detailed filing data is available for this year.$65.6$30.7$34.9$22.0$19.1$2.90
2014Detailed filing. Detailed filing data is available for this year.$63.6$31.0$32.6$19.8$17.5$2.35
2013Detailed filing. Detailed filing data is available for this year.$57.4$26.5$30.8$19.7$16.0$3.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.3$28.3$27.0$15.5
2011Summary only. Only limited summary data is available for this year.$52.4$28.7$23.7$17.8$15.2$2.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.3$29.6$22.7$16.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.2
Gross Receipts
$42,177,812
Mission and Program Overview

Mission

To provide secure retirement living in an atmosphere of Christian love. We enrich the quality of life of our residents by offering continuity of care within a nurturing environment while seeking opportunities to serve each other and the greater community.

We enrich residents' lives by providing a nurturing environment with joy, purpose, and well-being

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$145,294,576$160,681,710▲ $15,387,134
Investments in Publicly Traded Securities$28,586,684$29,938,685▲ $1,352,001
Savings and Temporary Cash Investments$11,881,704$12,234,518▲ $352,814
Accounts Receivable$1,511,717$1,608,148▲ $96,431
Prepaid Expenses and Deferred Charges$409,189$578,873▲ $169,684
Pledges and Grants Receivable$101,263$299,700▲ $198,437
Cash and Non-Interest-Bearing Accounts$1,650$1,650→ $0
Total Assets$223,264,585$228,997,968▲ $5,733,383
Other Assets Total$35,477,802$23,654,684▼ $11,823,118
Liabilities
Tax Exempt Bond Liabilities$81,475,183$81,262,663▼ $212,520
Deferred Revenue$53,202,364$55,687,387▲ $2,485,023
Other Liabilities$6,923,375$6,763,295▼ $160,080
Accounts Payable and Accrued Expenses$5,326,021$5,106,788▼ $219,233
Mortgage Notes Payable Secured by Investment Property$5,000,000$4,936,181▼ $63,819
Total Liabilities$151,926,943$153,756,314▲ $1,829,371
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$67,684,616$71,894,073▲ $4,209,457
Net Assets With Donor Restrictions$3,653,026$3,347,581▼ $305,445
Total Net Assets Fund Balance$71,337,642$75,241,654▲ $3,904,012
Total Liabilities and Net Assets / Fund Balance$223,264,585$228,997,968▲ $5,733,383

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$156,826,302$43,509,281$200,335,583
Equipment$3,391,222$6,805,364$10,196,586
Land$464,186-$464,186
Other Assets Org$6,854,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$2,731,499-▲ $207,514$207,514$2,731,499
2023$2,696,784-▲ $242,765$208,050$2,731,499
2022$3,032,006-▼ $335,222-$2,696,784
2021$3,032,006-▲ $387,526$387,526$3,032,006
2020$3,032,006-▲ $158,873$158,873$3,032,006
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Angela RigsbeePresident and CEOFT$253,647$66,800$320,447
Charles R GaskinsCFOFT$214,783$78,901$293,684
Milton McgowianCOOFT$191,115$53,719$244,834
Nikki J NelsonSales ManagerFT$122,717$44,229$166,946
Cory StepanskiDirector of Facility ServicesFT$125,485$36,949$162,434
Ann Marie LadisDirector of MarketingPT$143,771$18,090$161,861
Elizabeth ByrdVP Nursing ServicesFT$134,458$11,040$145,498
Carla RobertsLpnFT$118,191$1,280$119,471

Highest Paid Contractors

ContractorServicesLocationCompensation
Ross Allen Custom Builders INCBuilding Renovation Contractor9313 MONROE ROAD, Charlotte, NC 28270$3,738,364
Messer Construction CoBuilding Construction Contractor2400 EXECUTIVE STREET, Charlotte, NC 28208$1,840,833
US Foods INCFoodservice7801 STATESVILLE ROAD, Charlotte, NC 28269$1,476,987
Shook KelleyArchitect Services1545 WEST TRADE STREET, Charlotte, NC 28216$1,381,064
Functional PathwaysTherapy Contract Services10133 SHERRILL BLVD SUITE 200, Knoxville, TN 37932$1,169,837
Revenue and Support

Revenue Composition

Contributions and Grants
$293,260
Program Service Revenue
$40,288,562
Investment Income
$1,535,485
Other Revenue
$60,505
All Other Contributions
$293,260
Change in Net Assets
$673,591

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$25,000Appraised Value
Securities Publicly Traded1$1,094Market Price
Total Noncash Contributions2$26,094-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,567,445
Salaries, Compensation, and Employee Benefits$17,318,492
Grants and Similar Amounts Paid$2,618,284
Total Fundraising Expense$153,063
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,206,400$1,342,865$95,897$13,645,162
Depreciation Depletion$7,444,172--$7,444,172
Interest$3,618,670--$3,618,670
Occupancy$2,236,073-$1,462$2,237,535
Other Expenses$1,712,934-$25$1,712,934
Other Employee Benefits$1,542,932$117,035$16,973$1,676,940
Grants to Domestic Individuals$1,311,319--$1,311,319
Grants to Domestic Orgs$1,306,965--$1,306,965
All Other Expenses$1,017,179-$20,523$1,037,702
Payroll Taxes$845,975$94,773$6,363$947,111
Current Officers, Directors, Trustees, and Key Employees$770,836$81,804$6,325$858,965
Insurance$490,484--$490,484
Information Technology$357,383--$357,383
Advertising$318,235-$3,527$321,762
Fees for Services Other$219,851--$219,851
Pension Plan Contributions$175,448$12,898$1,968$190,314
Fees for Services Legal$179,202--$179,202
Office Expenses$135,382--$135,382
Fees for Services Accounting$100,463--$100,463
Total Functional Expenses$39,701,783$1,649,375$153,063$41,504,221
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Sharon FoundationCharlotte, NC501(c)(3)Continue to Support the Sharon at Southpark$500,000
Unc CharlotteCharlotte, NC170(b)(1)(a)(ii)Support Uncc Program to Provide Underserved Seniors With Personalized Health Assessments$262,793
InreachCharlotte, NC501(c)(3)Support a Wide Variety of Services to Individuals With Intellectual and Mental Challenges.$110,143
ALZHEIMER'S ASSOCIATIONCharlotte, NC501(c)(3)WALK TO END ALZHEIMER'S AND DEMENTIA EDUCATION$105,000
QUEEN'S UNIVERSITYCharlotte, NC501(c)(3)Learning Society Program$100,000
Sharon Presbyterian ChurchCharlotte, NC501(c)(3)Serve Human Need$25,000
AMERICA'S CHARITIESChantilly, VA501(c)(3)Supports Not for Profit Organizations to Provide Employee Assistance During Personal Hardships.$20,000
Leadingage Nc FoundationDurham, NC501(c)(3)Hurricane Helene Relief for Senior Living Communities in Western Nc$20,000
Memory and MovementCharlotte, NC501(c)(3)Comprehensive Care for Memory and Movement Disorders Regardless of Financial Situation.$10,000
Southpark Community PartnersCharlotte, NC501(c)(3)Southpark After Five$10,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Entrance Fees$5,837,145
Entrance Fee Deposits$926,150

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANc Medical Care Commission a Bonds2019-12-05$83,995,931SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$83,995,931$4,890,000-$1,616,080

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
Yes
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 1A

The executive committee votes on issues that come up in between board meetings. Their decisions are ratified at the next full board meeting. The executive committee is made up of the immediate past board chair, the current board chair, the secretary, the treasurer, and committee chairs.

Form 990, Part VI, Section A, Line 4

The organization revised its bylaws to reduce the number of board members from 18-24 to 12-16 members. In addition, the chief operating officer was added to article 4 "officers."

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

The board presents a new class of board members annually to the presbytery of charlotte. The presbytery approves the new members.

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

After receiving the form 990 from our auditor, it is reviewed by our chief financial officer and ceo. The redacted version without donor names is reviewed by the executive committee of the board.

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

Board members complete a conflict of interest statement disclosing any potential conflicts of interest; board members abstain from any decision/vote that may be a conflict of interest.

Form 990, Part VI, Section B, Line 15

In 2024 the company had an external compensation review. The executive committee of the sharon's board serves as the compensation committee. The committee was given this wage and salary survey conducted by an independent salary consultant. The data included multiple salary surveys including ccrc's as well as similar & competing organizations. This data was used in confirming the 2024 salary and adjustments were made in 2025. Ceo compensation is documented and placed in the ceo's file held by the board chair. A copy is also kept in the sharon's records.

Form 990, Part VI, Section C, Line 19

Governing documents are available upon request, and financials are also available on msrb/emma reporting website for bonds

Filing and Contact Details

Filer

Filer Name
The Presbyterian Home at Charlotte Inc
EIN
56-6064186
Phone
7045531670
Address
5100 SHARON ROAD, CHARLOTTE, NC 28210
Doing Business As
The Sharon at Southpark

Signing Officer

Name
Angela Rigsbee
Title
President and CEO
Phone
7045531670
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angela Rigsbee
Formed
1969
Legal Domicile
Nc
Voting Board Members
18
Independent Board Members
18
Employees
448
Volunteers
133

Preparer

Firm
Cliftonlarsonallen Llp
Address
227 WEST TRADE STREET SUITE 800, CHARLOTTE, NC 28202
Preparer
Kathrine a Warlick
Phone
7049985200
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Beneficial interest in net assets of the foundation 647,721.

FORM 990, PART XII, LINE 2C:

The process of selecting and overseeing the independent accountant is unchanged from the prior year.

Financial Statement Notes

PART X, LINE 2:

The sharon and the foundation have been recognized by the internal revenue service as exempt from income taxes under internal revenue code section 501(c)(3). The sharon and the foundation file as tax-exempt organizations. Management is not aware of any activities that would jeopardize their tax-exempt status. Management is not aware of any activities that are subjected to tax on unrelated business income or excise or other taxes. The sharon and the foundation follow guidance in the income tax standard regarding recognition and measurement of uncertain tax positions. The application of the standard has had no impact on the consolidated financial statements.

Raw XML AppendixShowing 400 of 1,056 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Desc0THE PRESBYTERIAN HOME AT CHARLOTTE, INC. PROVIDES HOUSING, HEALTH CARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RETIREMENT FACILITY WHICH AT DECEMBER 31, 2024, CONTAINED 253 INDEPENDENT LIVING UNITS, 40 ASSISTED LIVING UNITS, AND A 96 BED HEALTH CARE CENTER.
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