Civic Intelligence

Pace North

EIN 81-4749395 • 501(c)3 • Traverse City, MI

Profile

A provider of the Program of All-Inclusive Care for the Elderly (PACE) which is a community-based, long-term care delivery program that provides comprehensive, coordinated, managed care to eligible participants.

2325 Garfield Rd NTraverse City, MI 49686

pacenorth.org

Siviq Scores

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

Liabilities / Assets

91st percentile

0.91x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

64th percentile

0.41x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

49th percentile

4.3%

Higher net margin than 49% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

43rd percentile

2.9%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

79th percentile

30%

Faster revenue growth than 79% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$9,371,707

Up $265,027 (+2.9%) from 2023

Liabilities

Down

$8,508,951

Down $643,933 (-7.0%) from 2023

Net Assets

Up

$862,756

Up $908,960 (+1967%) from 2023

Revenue

Up

$20,897,408

Up $4,770,775 (+30%) from 2023

Expenses

Up

$19,988,448

Up $4,093,012 (+26%) from 2023

Net Income

Up

$908,960

Up $677,763 (+293%) from 2023

Trend Graphs

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2019: $5,554,629Liabilities 2019: $4,623,297Net Assets 2019: $931,3322019Assets 2020: $5,281,171Liabilities 2020: $5,609,856Net Assets 2020: -$328,6852020Assets 2021: $7,443,646Liabilities 2021: $8,032,937Net Assets 2021: -$589,2912021Assets 2022: $9,110,414Liabilities 2022: $9,387,815Net Assets 2022: -$277,4012022Assets 2023: $9,106,680Liabilities 2023: $9,152,884Net Assets 2023: -$46,2042023Assets 2024: $9,371,707Liabilities 2024: $8,508,951Net Assets 2024: $862,7562024

Highlighted filing

2024

Assets$9,371,707
Liabilities$8,508,951
Net Assets$862,756

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2019: $631,909Expenses 2019: $1,951,080Net Income 2019: -$1,319,1712019Revenue 2020: $3,931,052Expenses 2020: $5,191,069Net Income 2020: -$1,260,0172020Revenue 2021: $8,929,396Expenses 2021: $9,190,002Net Income 2021: -$260,6062021Revenue 2022: $13,537,801Expenses 2022: $13,225,911Net Income 2022: $311,8902022Revenue 2023: $16,126,633Expenses 2023: $15,895,436Net Income 2023: $231,1972023Revenue 2024: $20,897,408Expenses 2024: $19,988,448Net Income 2024: $908,9602024

Highlighted filing

2024

Revenue$20,897,408
Expenses$19,988,448
Net Income$908,960

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 16, 2025
Return Version
2024v5.2
Gross Receipts
$20,897,662
Mission and Program Overview

Mission

A provider of the Program of All-Inclusive Care for the Elderly (PACE) which is a community-based, long-term care delivery program that provides comprehensive, coordinated, managed care to eligible participants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,420,435$4,776,078▲ $355,643
Land, Buildings, and Equipment, Net$3,698,375$3,734,885▲ $36,510
Accounts Receivable$264,666$192,876▼ $71,790
Prepaid Expenses and Deferred Charges$103,139$84,253▼ $18,886
Total Assets$9,106,680$9,371,707▲ $265,027
Other Assets Total$620,065$583,615▼ $36,450
Liabilities
Other Liabilities$5,080,080$4,780,156▼ $299,924
Accounts Payable and Accrued Expenses$1,852,804$2,100,795▲ $247,991
Mortgage Notes Payable Secured by Investment Property$2,220,000$1,628,000▼ $592,000
Total Liabilities$9,152,884$8,508,951▼ $643,933
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-46,204$712,939▲ $759,143
Net Assets With Donor Restrictions-$149,817-
Total Net Assets Fund Balance$-46,204$862,756▲ $908,960
Total Liabilities and Net Assets / Fund Balance$9,106,680$9,371,707▲ $265,027

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,766,958$920,441$3,687,399
Other Land Buildings$793,099$338,282$1,131,381
Equipment$174,828$173,973$348,801
Land$0--
Other Assets Org$583,615--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mark BylandMedical DirectorFT$258,870$258,870
Mark Byland--$258,870$258,870
Nicole FarkasExecutive DirectorFT$139,000$139,000
John JacobsFinance DirectorFT$86,400$86,400

Board Members and Trustees

NameTitle
Elizabeth AderholdtPresident
Cecil McnallyDirector
Gerard BodalskiDirector
Greg KishDirector
Linda RootDirector
Mary MariosDirector
Bob SchlueterSecretary
Korvyn HansenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$153,556
Program Service Revenue
$20,628,586
Investment Income
$115,266
Other Revenue
$0
All Other Contributions
$153,556
Change in Net Assets
$908,960

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,897,408
Total Revenue per Audited Statements
$20,897,408
Total Revenue per Form 990
$20,897,408
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,199,556
Salaries, Compensation, and Employee Benefits$5,788,892
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,493,719$1,017,686$0$4,511,405
Other Employee Benefits$790,390$261,697$0$1,052,087
Occupancy$263,319$263,251$0$526,570
Depreciation Depletion$217,422$215,243$0$432,665
Interest$0$270,886$0$270,886
Insurance$109,661$141,753$0$251,414
Current Officers, Directors, Trustees, and Key Employees$174,554$50,846$0$225,400
Travel$124,557$10,727$0$135,284
Other Expenses$40,459$73,372$0$113,831
Advertising$0$58,385$0$58,385
Conferences and Meetings$3,819$38,408$0$42,227
All Other Expenses$7,168$28,686$0$35,854
Fees for Services Accounting$0$11,000$0$11,000
Total Functional Expenses$16,722,449$3,265,999$0$19,988,448

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$19,988,448
Total Expenses per Audited Statements$19,988,448
Total Expenses per Form 990$19,988,448
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
Debt payable to Grand Traverse County, MI$2,515,000
Due to Grand Traverse Pavilions$1,314,283
Obligations for operating capital leases$583,615
Obligations for financing capital leases$367,258
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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
PACE North
EIN
81-4749395
Phone
2312522767
Address
2325 Garfield Rd N, Traverse City, MI 49686

Signing Officer

Name
Nicole Farkas
Title
Executive Director
Phone
2312522767
Signed
2025-07-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole Farkas
Formed
2016
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
8
Employees
129
Volunteers
0

Preparer

Firm
Vredeveld Haefner LLC
Address
10302 20TH AVE NW, GRAND RAPIDS, MI 49534
Preparer
Michael J Vredeveld CPA
Phone
6166488447
Supplemental Narrative

Additional Explanations

Pt VI, Line 19

Documents are available upon request.

Pt VI, Line 11B

The Finance Director and Executive Director review the 990 before submission.

Pt VI, Line 15A

Hiring and assessing executive level staff is performed by the Board based on comparable industry knowledge.

Pt XII, Line 2C

Audit firm is selected by the Finance Director and Member of the Board that also monitors audit performance.

Pt VI, Line 12C

Annual conflict of interest statements are required to be reviewed by key employees. These statements are then filed in their respective human resource file.

Pt VI, Line 7A

Directors are elected by the Grand Traverse County, MI Department of Health and Human Services Board

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