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Nonprofiteer
← CARE INITIATIVES

Form 990 for tax year 2023

Filed by CARE INITIATIVES.

Totals

Total revenue
$261,075,251
Total expenses
$261,808,342
Contributions and grants received
$832,082
Grants paid
$183,507
Program service revenue
$259,437,351
Investment income
$826,140
Other revenue
-$20,322
Total assets, end of year
$173,375,162
Total liabilities, end of year
$106,386,791
Net assets or fund balances, end of year
$66,988,371
Program services expenses (Part IX)
$239,927,886
Management and general expenses
$21,880,456
Fundraising expenses
$0
Program service expenses (Part III)
$239,927,886

Program services were 91.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $746,062

  • 1f · All other contributions, gifts and grants

    $86,020

  • 2a · Program service revenue: NURSING HOME SERVICES

    total $235,362,300 · related or exempt $235,362,300

  • 2b · Program service revenue: HOSPICE SERVICES

    total $23,140,805 · related or exempt $23,140,805

  • 2c · Program service revenue: ASSISTED LIVING SERVIC

    total $748,293 · related or exempt $748,293

  • 2d · Program service revenue: SENIOR LIVING APARTMEN

    total $135,701 · related or exempt $135,701

  • 2e · Program service revenue: GUEST MEALS

    total $41,044 · excluded $41,044

  • 2f · All other program service revenue

    total $9,208 · excluded $9,208

  • 3 · Investment income

    total $779,915 · excluded $779,915

  • 7a · Gross sales of assets other than inventory

    other assets $68,415

  • 7b · Less cost or other basis and sales expenses

    other assets $22,190

  • 7c · Gain or loss

    other assets $46,225

  • 7d · Net gain or loss

    total $46,225 · excluded $46,225

  • 11a · Other revenue: SUBPART F INCOME

    total $78,789 · excluded $78,789

  • 11b · Other revenue: LTC PHARMCO LLC

    total -$99,111 · related or exempt -$99,111

  • 11e · Other revenue, total

    -$20,322

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,003 · program services $10,003

  • 2 · Grants to domestic individuals

    total $173,504 · program services $173,504

  • 5 · Compensation of officers, directors and key employees

    total $2,166,918 · management and general $2,166,918

  • 7 · Other salaries and wages

    total $134,259,118 · program services $123,143,340 · management and general $11,115,778

  • 9 · Other employee benefits

    total $6,747,388 · program services $5,870,543 · management and general $876,845

  • 10 · Payroll taxes

    total $9,921,451 · program services $9,229,067 · management and general $692,384

  • 11b · Fees: legal

    total $504,044 · management and general $504,044

  • 11c · Fees: accounting

    total $214,536 · management and general $214,536

  • 11g · Fees: other

    total $37,034,816 · program services $36,509,247 · management and general $525,569

  • 12 · Advertising and promotion

    total $824,472 · program services $714,086 · management and general $110,386

  • 13 · Office expenses

    total $1,499,933 · program services $1,311,131 · management and general $188,802

  • 14 · Information technology

    total $4,333,757 · management and general $4,333,757

  • 16 · Occupancy

    total $10,014,730 · program services $9,749,683 · management and general $265,047

  • 17 · Travel

    total $4,527,890 · program services $4,121,760 · management and general $406,130

  • 20 · Interest

    total $2,833,334 · program services $2,773,235 · management and general $60,099

  • 22 · Depreciation, depletion and amortization

    total $8,115,304 · program services $7,790,787 · management and general $324,517

  • 23 · Insurance

    total $1,644,261 · program services $1,620,619 · management and general $23,642

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $12,792,366 · program services $12,792,366

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $12,265,243 · program services $12,265,243

  • 24c · Other expenses: DIETARY SUPPLIES

    total $7,162,619 · program services $7,162,619

  • 24d · Other expenses: MAINTENANCE

    total $1,838,532 · program services $1,838,532

  • 24e · All other expenses

    total $2,924,123 · program services $2,852,121 · management and general $72,002

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,712 · end of year $17,690

  • 2 · Savings and temporary cash investments

    beginning of year $31,768,186 · end of year $34,555,753

  • 4 · Accounts receivable

    beginning of year $30,827,475 · end of year $29,621,132

  • 8 · Inventories for sale or use

    beginning of year $1,115,205 · end of year $655,921

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,833,959 · end of year $3,817,584

  • 10a · Land, buildings and equipment: cost or other basis

    $262,018,387

  • 10b · Land, buildings and equipment: accumulated depreciation

    $181,595,461

  • 10c · Land, buildings and equipment, net

    beginning of year $83,969,745 · end of year $80,422,926

  • 11 · Investments: publicly traded securities

    beginning of year $23,685,153 · end of year $18,446,227

  • 12 · Investments: other securities

    beginning of year $1,190,000

  • 13 · Investments: program-related

    beginning of year $239,805 · end of year $2,646,798

  • 15 · Other assets

    beginning of year $3,208,774 · end of year $3,191,131

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,119,446 · end of year $39,850,639

  • 20 · Tax-exempt bond liabilities

    beginning of year $48,157,255 · end of year $45,546,276

  • 23 · Secured mortgages and notes payable

    beginning of year $20,896,000 · end of year $19,896,000

  • 25 · Other liabilities

    beginning of year $1,367,503 · end of year $1,093,876

  • 27 · Net assets without donor restrictions

    beginning of year $66,317,810 · end of year $66,988,371

Mission and programs · 2023

Mission

IMPROVING QUALITY OF LIFE FOR IOWANS AND THEIR FAMILIES DURING LIFE'S HEALTH TRANSITIONS THROUGH COMPASSIONATE INDIVIDUALIZED CARE.

Activities or mission (Part I)

CHARITABLE NON-PROFIT: 43 NURSING HOMES, 8 ASSISTED LIVING FACILITIES, 3 SENIOR LIVING APARTMENT LOCATIONS, 7 HOSPICE LOCATIONS.

  • DURING 2023, CARE PROVIDED SERVICES TO A DAILY AVERAGE OF 2,339 RESIDENTS IN 43 IOWA NURSING HOMES, 6 ASSISTED LIVING FACILITIES AND 3 SENIOR LIVING APARTMENT LOCATIONS. CARE PROVIDED THESE RESIDENTS, WHICH ARE COMPRISED OF ELDERLY, INFIRMED AND FINANCIALLY LIMITED INDIVIDUALS, WITH A COMFORTABLE, CLEAN, HOME LIKE ATMOSPHERE. CARE PROVIDES HIGH QUALITY HEALTH CARE, FREE OF AS MANY RESTRAINTS AND PSYCHOTROPIC MEDICATIONS AS IS PRUDENT FOR THEIR SAFETY AND THE SAFETY OF OTHER RESIDENTS, AT THE LOWEST POSSIBLE COST. SERVICES PROVIDED INCLUDE ROOM AND BOARD, PROVISION FOR DIETARY REQUIREMENTS, ASSISTANCE WITH PERSONAL HYGIENE WHERE NEEDED, AND PHYSICAL AND SOCIAL ACTIVITIES TO MAINTAIN THE HIGHEST PHYSICAL AND MENTAL QUALITY OF LIFE ATTAINABLE. ADDITIONAL SERVICES INCLUDE OCCUPATIONAL, SPEECH AND PHYSICAL THERAPY, OUTPATIENT THERAPY SERVICES, SKILLED NURSING CARE IN ALL CARE CENTERS, SENIOR LIVING APARTMENTS AT SEVERAL LOCATIONS AND ASSISTED LIVING IN EIGHT LOCATIONS. IN ADDITION, CARE HAS INITIATED A PROGRAM OF REHAB TO HOME CARE TO HASTEN A RESIDENT'S OPPORTUNITY TO RETURN TO THEIR HOMES. IN ADDITION, CARE PROVIDES LIMITED OUTPATIENT THERAPY SERVICES IN THE COMMUNITIES IT SERVES.DURING 2023, CARE ALSO PROVIDED HOSPICE SERVICES TO A DAILY AVERAGE OF 402 PATIENTS THROUGH SEVEN HOSPICE LOCATIONS. CARE PROVIDES COMPASSIONATE HEALTH CARE AND PALLIATIVE SUPPORT FOR PEOPLE FACING LIFE-LIMITING ILLNESSES OR CONDITIONS. SOME OF THE SERVICES PROVIDED INCLUDE NURSING CARE, PHYSICIAN CARE, HOME HEALTH AIDE, PHYSICAL AND SPEECH THERAPY, MASSAGE THERAPY, MUSIC THERAPY, SPIRITUAL SUPPORT, AND BEREAVEMENT SUPPORT.CARE IS THE LARGEST NURSING HOME SERVICE PROVIDER FOR MEDICAID RESIDENTS IN IOWA. IN 2023, A DAILY AVERAGE OF 1,336 RESIDENTS PARTICIPATED IN THE MEDICAID PROGRAM. CARE'S COST FOR THESE RESIDENTS EXCEEDED REVENUE BY $27,336,000. NO RESIDENT OF CARE IS DENIED A MEDICATION, NURSING SUPPLY OR THERAPY, REGARDLESS OF THEIR ABILITY TO PAY. CARE HAS A HISTORY OF MODERNIZATION AND REPLACEMENT OF NURSING FACILITIES. SINCE INCEPTION, CARE HAS INVESTED MORE THAN $142 MILLION TO MODERNIZE ITS CENTERS. IMPROVEMENTS INCLUDE AIR CONDITIONING, FIRE SPRINKLERS, REPLACEMENT OF HVAC AND ELECTRICAL SYSTEMS, AND PAVED PARKING LOTS. EVERY CARE CENTER THAT HAS NOT YET BEEN REPLACED WITH A NEW REPLACEMENT BUILDING HAS HAD EXTENSIVE RENOVATIONS. SINCE INCEPTION, CARE HAS INVESTED MORE THAN $111 MILLION IN FOURTEEN NEW REPLACEMENT CENTER BUILDINGS THROUGHOUT IOWA.CARE PROMOTES ECONOMIC DEVELOPMENT IN THE COMMUNITIES IT SERVES BY ADDRESSING HOUSING, EMPLOYMENT, EDUCATIONAL OR ENVIRONMENTAL NEEDS AND CONCERNS. IN 2023, CARE CONTRIBUTED TO ITS COMMUNITIES BY PAYING PROPERTY TAX OF $2.53 MILLION. IN MANY OF ITS COMMUNITIES, CARE IS THE LARGEST EMPLOYER AND THEIR FAMILIES FORM THE LARGEST STUDENT POPULATION BASE FOR THE LOCAL SCHOOL DISTRICT.CARE FACILITIES WERE A GATHERING PLACE FOR COMMUNITY VOLUNTEERS WHO PROVIDED 5,266 HOURS TO HELP THE ELDERLY. USING THE INDEPENDENT SECTOR'S ESTIMATED DOLLAR VALUE OF VOLUNTEER TIME, THE ESTIMATED VALUE OF VOLUNTEER TIME TOTALED APPROXIMATELY $152,080. CARE'S CONTINUUM OF CARE EXTENDED INTO THE COMMUNITIES IT SERVES BY PROVIDING REDUCED OR NO-FEE SERVICES SUCH AS MEALS-ON-WHEELS, MEALS FOR COUNTY JAILS, EDUCATIONAL SERVICES AND PUBLIC AWARENESS PROGRAMS.IN 2023, $10,003 IN CHARITABLE CONTRIBUTIONS WERE MADE TO SUPPORT CHARITABLE ORGANIZATIONS THAT FURTHER CARE'S EXEMPT MISSION.

    Expenses $239,927,886 · Grants $183,507 · Revenue $259,287,988

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Beal

    PRESIDENT/CEO/VICE CHAIR

    Total calculated
    $721,327
    From this org
    $697,817
    From related orgs
    $0
    Other
    $23,510
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $661,717
    Bonus
    $0
    Other
    $36,100
    Deferred
    $0
    Nontaxable benefits
    $23,510
    Filer's total
    $721,327

  • Joseph Reese

    SVP/COO

    Total calculated
    $470,743
    From this org
    $466,689
    From related orgs
    $0
    Other
    $4,054
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $55,734
    Bonus
    $0
    Other
    $410,955
    Deferred
    $0
    Nontaxable benefits
    $4,054
    Filer's total
    $470,743

  • David Dixon

    SVP/CFO/TREASURER

    Total calculated
    $420,064
    From this org
    $419,154
    From related orgs
    $0
    Other
    $910
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $383,054
    Bonus
    $0
    Other
    $36,100
    Deferred
    $0
    Nontaxable benefits
    $910
    Filer's total
    $420,064

  • Eric Woodman

    VP HOME HEALTH & HOSPICE

    Total calculated
    $337,544
    From this org
    $337,373
    From related orgs
    $0
    Other
    $171
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $70,673
    Bonus
    $0
    Other
    $266,700
    Deferred
    $0
    Nontaxable benefits
    $171
    Filer's total
    $337,544

  • Johanna Volm

    VP/CLINICAL SERVICES

    Total calculated
    $298,693
    From this org
    $289,666
    From related orgs
    $0
    Other
    $9,027
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,566
    Bonus
    $0
    Other
    $36,100
    Deferred
    $0
    Nontaxable benefits
    $9,027
    Filer's total
    $298,693

  • Cynthia Williams

    VP INFORMATION SYSTEMS

    Total calculated
    $295,862
    From this org
    $288,381
    From related orgs
    $0
    Other
    $7,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,766
    Bonus
    $0
    Other
    $57,615
    Deferred
    $0
    Nontaxable benefits
    $7,481
    Filer's total
    $295,862

  • Jeramy Kuhn

    VP - CHIEF COMPLIANCE OFFI

    Total calculated
    $294,879
    From this org
    $286,158
    From related orgs
    $0
    Other
    $8,721
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $250,058
    Bonus
    $0
    Other
    $36,100
    Deferred
    $0
    Nontaxable benefits
    $8,721
    Filer's total
    $294,879

  • Elizabeth Gana

    CHARGE NURSE-LPN

    Total calculated
    $279,060
    From this org
    $279,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    86

    Schedule J breakdown matched by us

    Base
    $275,476
    Bonus
    $0
    Other
    $3,584
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $279,060

  • Jessica McDyer

    VP SKILLED NURSING OPERATIONS

    Total calculated
    $253,997
    From this org
    $227,167
    From related orgs
    $0
    Other
    $26,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,967
    Bonus
    $0
    Other
    $1,200
    Deferred
    $0
    Nontaxable benefits
    $26,830
    Filer's total
    $253,997

  • Jennifer Harwood

    VP HOSPICE

    Total calculated
    $80,287
    From this org
    $78,681
    From related orgs
    $0
    Other
    $1,606
    Hours/week
    40

  • Denise Sturm

    BOARD CHAIR

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steven Ackerson

    SECRETARY

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Lane Bowen

    DIRECTOR

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mary Jane Carothers

    DIRECTOR

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Keith Krein

    DIRECTOR

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Elizabeth Rust

    DIRECTOR

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Linda Upmeyer

    DIRECTOR

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kevin Childs

    DIRECTOR FROM 4/2023

    Total calculated
    $17,500
    From this org
    $17,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ron Harmond

    DIRECTOR THRU 3/2023

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, 4A, SEVERANCE:
SVP/COO JOSEPH REESE RESIGNED EFFECTIVE 2/13/2023. AS PART OF THIS TRANSITION, HE WAS GRANTED A SEVERANCE PAYMENT OF $351,000. VP HOME HEALTH AND HOSPICE ERIC WOODMAN RESIGNED EFFECTIVE 3/22/2023. AS PART OF THIS TRANSITION, HE WAS GRANTED A SEVERANCE PAYMENT OF $262,500. THESE AMOUNTS WERE INCLUDED IN PART II, COLUMN B (III) FOR EACH INDIVIDUAL.
PART II, COLUMN B (III), OTHER REPORTABLE COMPENSATION:
CARE INITIATIVES HAS A 457B PLAN FOR ITS EXECUTIVES. IT WAS FUNDED BY THE ORGANIZATION TO THE FOLLOWING INDIVIDUALS IN THE AMOUNTS LISTED BELOW: MICHAEL BEAL $20,500; DAVID DIXON $20,500; JOHANNA VOLM $20,500; CYNTHIA WILLIAMS $20,500; JERAMY KUHN $20,500. THE ABOVE MENTIONED AMOUNTS ARE INCLUDED IN PART II, COLUMN B (III).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ODEBOLT ASSISTED LIVING LLC

    LOW INCOME HOUSING · NE · income $37,574 · assets -$3,581

    Directly controlled by CARE INITIATIVES

  • DUNLAP ASSISTED LIVING LLC

    LOW INCOME HOUSING · NE · income $710 · assets $8,052

    Directly controlled by CARE INITIATIVES

  • LAMONI ASSISTED LIVING LLC

    LOW INCOME HOUSING · NE · income $44,025 · assets $278

    Directly controlled by CARE INITIATIVES

  • PANORA ASSISTED LIVING LLC

    LOW INCOME HOUSING · NE · income $10,303 · assets $525

    Directly controlled by CARE INITIATIVES

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • AMERICAN HEALTH HOLDINGS OF IOWA LLC

    UNRELATED · ISNP · TN · 20.81% owned · share of assets $581,379

  • LTC PHARMCO LLC

    RELATED · PHARMACY · IA · 50% owned · share of income -$99,111 · share of assets $2,102,728

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • IOWA INDEMNITY COMPANY LTD

    C · CAPTIVE INSURANCE · TK · 100% owned · share of income $78,789 · share of assets $2,706,452 · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202413119349303056

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