Civic Intelligence

Centennial Housing & Community Services Corporation

EIN 84-2516855 • 501(c)3 • Plano, TX

Pub. 78 Eligible990-N CoverageNTEE P81

Profile

Centennial Housing & Community Services Corporation (DBA Washington Regional Medical Center) is committed to providing quality health care. The focus of our institution is on training and skill development so we do the right things at the right time--every time. WRMC is dedicated to improving the health and quality of life for the people and communities we serve. WRMC is committed to offering quality and value-driven services to all individuals seeking assistance.

500 NorthCentral Expwy Suite 175Plano, TX 75074

www.washingtonregionalmedical.org

Siviq Scores

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

Liabilities / Assets

99th percentile

2.87x

Higher debt load relative to assets than 99% of similar nonprofits.

NTEE P • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

88th percentile

1.59x

Higher debt load relative to revenue than 88% of similar nonprofits.

NTEE P • $10M-$25M nonprofits • Source year 2023

Net Margin

10th percentile

-13%

Higher net margin than 10% of similar nonprofits.

NTEE P • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

84th percentile

$372,815

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

NTEE P • $10M-$25M nonprofits • Source year 2023

Asset Growth

2nd percentile

-27%

Faster asset growth than 2% of similar nonprofits.

NTEE P • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

40th percentile

3.7%

Faster revenue growth than 40% of similar nonprofits.

NTEE P • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$8,096,934

Down $3,010,123 (-27%) from 2022

Liabilities

Up

$23,265,266

Up $3,234,358 (+16%) from 2022

Net Assets

Down

-$15,168,332

Down $6,244,481 (-70%) from 2022

Revenue

Up

$14,633,435

Up $517,734 (+3.7%) from 2022

Expenses

Down

$16,489,736

Down $832,789 (-4.8%) from 2022

Net Income

Up

-$1,856,301

Up $1,350,523 (+42%) from 2022

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0-$10M-$20MAssets 2020: $9,920,569Liabilities 2020: $9,617,914Net Assets 2020: $302,6552020Assets 2021: $10,197,937Liabilities 2021: $13,273,508Net Assets 2021: -$3,075,5712021Assets 2022: $11,107,057Liabilities 2022: $20,030,908Net Assets 2022: -$8,923,8512022Assets 2023: $8,096,934Liabilities 2023: $23,265,266Net Assets 2023: -$15,168,3322023

Highlighted filing

2023

Assets$8,096,934
Liabilities$23,265,266
Net Assets-$15,168,332

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2020: $6,181,394Expenses 2020: $5,878,739Net Income 2020: $302,6552020Revenue 2021: $17,463,913Expenses 2021: $20,842,139Net Income 2021: -$3,378,2262021Revenue 2022: $14,115,701Expenses 2022: $17,322,525Net Income 2022: -$3,206,8242022Revenue 2023: $14,633,435Expenses 2023: $16,489,736Net Income 2023: -$1,856,3012023

Highlighted filing

2023

Revenue$14,633,435
Expenses$16,489,736
Net Income-$1,856,301

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Dec 11, 2024
Return Version
2023v5.0
Gross Receipts
$14,633,435
Mission and Program Overview

Mission

Centennial Housing & Community Services Corporation (DBA Washington Regional Medical Center) is committed to providing quality health care. The focus of our institution is on training and skill development so we do the right things at the right time--every time. WRMC is dedicated to improving the health and quality of life for the people and communities we serve. WRMC is committed to offering quality and value-driven services to all individuals seeking assistance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,529,213$3,029,573▼ $499,640
Intangible Assets$2,873,190$2,873,190→ $0
Accounts Receivable$5,979,063$2,181,042▼ $3,798,021
Prepaid Expenses and Deferred Charges$56,855--
Cash and Non-Interest-Bearing Accounts$-1,331,264$13,129▲ $1,344,393
Total Assets$11,107,057$8,096,934▼ $3,010,123
Liabilities
Accounts Payable and Accrued Expenses$9,117,278$9,744,399▲ $627,121
Mortgage Notes Payable Secured by Investment Property$6,000,525$7,407,762▲ $1,407,237
Other Liabilities$4,913,105$6,113,105▲ $1,200,000
Total Liabilities$20,030,908$23,265,266▲ $3,234,358
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-8,923,851$-15,168,332▼ $6,244,481
Total Net Assets Fund Balance$-8,923,851$-15,168,332▼ $6,244,481
Total Liabilities and Net Assets / Fund Balance$11,107,057$8,096,934▼ $3,010,123

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$671,593$1,564,734$0
Other Land Buildings$0$0$0
Land$429,072-$0
Equipment$1,928,908$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Amanze UgojiChief Executive OfficerFT$372,815$372,815
Cameron SmithNurse PractitionerFT$328,721$328,721
Lois RobersonDoctorate Prepared Nurse PractitionerFT$279,970$279,970
Timothy MadiganPhysicianFT$273,075$273,075
Chrystie StoweNurse PractitionerFT$233,392$233,392
Bruce PattersonEVP Business Development & Business AffairsFT$218,392$218,392
Tonda GarrisonChief Operating OfficerFT$166,154$166,154
Russell AnduzaChief Information Technology OfficerFT$161,538$161,538
Frank AvignoneChief Executive Officer - currentFT$157,500$157,500

Highest Paid Contractors

ContractorServicesLocationCompensation
Alech Health PllcHospital Management2296 Vicky Lane, Greenville, NC 27858$192,077
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$14,633,435
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,856,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,501,298
Other Expenses$5,988,438
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,228,064$3,771,455$0$8,999,519
Office Expenses$0$2,798,051$0$2,798,051
Interest$1,048,722$0$0$1,048,722
Other Employee Benefits$0$782,618$0$782,618
Payroll Taxes$435,141$284,020$0$719,161
Depreciation Depletion$0$499,640$0$499,640
Travel$0$111,766$0$111,766
Other Expenses$4,916$0$0$4,916
Total Functional Expenses$7,958,566$8,531,170$0$16,489,736
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
Loans from Affinity$3,713,105
Deferred Management Fees$2,400,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 is reviewed by the signer

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

WRMC has a conflict-of-interest policy in place. This is reviewed annually to discuss any potential changes or additions that may need to be made, and education has been provided to all staff during annual education. In addition, we have monthly compliance meetings where any violations are to be discussed. At this date, no violations were discussed in 2023 or so far in 2024.

Form 990, Part VI, Section B, Line 15

No Trustee or Director receives any compensation of any type for their work currently. The are no No Trustee or Director receives any compensation of any type for their work currently.

Form 990, Part VI, Section C, Line 19

Although the IRS asks if your organization's governing documents (i.e., by-laws), conflict of interest policy and financial statements are to the public, this is one question where we believe that a "no" answer is as acceptable as a "yes" answer. We have seen many organizations respond "no" to this question and indicate in Schedule O that they do not believe any useful purpose would be served by the public disclosure of these documents.

Filing and Contact Details

Filer

Filer Name
Centennial Housing & Community Services Corporation
EIN
84-2516855
Phone
2146297860
Address
500 NorthCentral Expwy Suite 175, Plano, TX 75074

Signing Officer

Name
Frank Avignone
Title
Chief Executive Officer
Phone
2146297860
Signed
2024-12-11

Organization Details

Principal Officer
Frank T Avignone IV
Formed
2018
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
0
Employees
11
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Adjustment to Accounts Receivable due to additional information pertaining to the expected likelihood of collections.

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IRS990/MissionDesc0Centennial Housing & Community Services Corporation (DBA Washington Regional Medical Center) is committed to providing quality health care. The focus of our institution is on training and skill development so we do the right things at the right time--every time. WRMC is dedicated to improving the health and quality of life for the people and communities we serve. WRMC is committed to offering quality and value-driven services to all individuals seeking assistance.
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IRS990/PrincipalOfficerNm0Frank T Avignone IV
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IRS990ScheduleA/HospitalInd0X
IRS990/ScheduleBRequiredInd00
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