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Nonprofiteer
← GRACE LIFECARE INC

Form 990 for tax year 2022

Filed by GRACE LIFECARE INC.

What the amendment changed

Compared with the return it replaced , filed 26 April 2023. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$4,983,135 changed to $10,354,058
Total expenses
$6,016,644 changed to $12,166,314
Program service revenue
$4,894,057 changed to $10,100,167
Investment income
$74,917 changed to $210,078
Other revenue
$14,161 changed to $43,813
Total assets, end of year
$23,871,390 changed to $23,588,261
Total liabilities, end of year
$23,754,571 changed to $25,061,482
Net assets or fund balances, end of year
$116,819 changed to -$1,473,221
Program services expenses
$5,075,244 changed to $10,375,099
Management and general expenses
$941,400 changed to $1,791,215
Program service expenses (Part III)
$5,075,244 changed to $10,375,099

Listed only on the earlier return

  • FELICIA SIMMONS

Listed only on the later return

  • ANDREW BRANT MD
  • DAVID BENNETT
  • GANDHARI LOOMIS MD
  • JEFFREY BRIGHT
  • KENNETH CORMIER
  • LINDA LACKEY
  • NANCY LOVELACE
  • TEA YANG

Totals

Total revenue
$10,354,058
Total expenses
$12,166,314
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,100,167
Investment income
$210,078
Other revenue
$43,813
Total assets, end of year
$23,588,261
Total liabilities, end of year
$25,061,482
Net assets or fund balances, end of year
-$1,473,221
Program services expenses (Part IX)
$10,375,099
Management and general expenses
$1,791,215
Fundraising expenses
$0
Program service expenses (Part III)
$10,375,099

Program services were 85.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • J MICHAEL BRIDGES

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • M H MCCRARY

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • SHERROD SALSBURY

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • JEFF CARSWELL

    TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • JOHN BRANSTROM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • ALAN GRIFFIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • SUSAN HAIRE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • ALAN VANNOPPEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • DAVID BENNETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • TEA YANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • GANDHARI LOOMIS MD

    BOARD MEMBER

    Total calculated
    $337,860
    From this org
    $0
    From related orgs
    $317,688
    Other
    $20,172
    Hours/week
    0.2 + 50.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,399 related
    Bonus
    $0 + $91,098 related
    Other
    $0 + $191 related
    Deferred
    $0 + $9,031 related
    Nontaxable benefits
    $0 + $11,141 related
    Filer's total
    $0 + $337,860 related

  • ANDREW BRANT MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.2 + 1.8 related

  • PATRICIA MOLL

    CFO

    Total calculated
    $430,768
    From this org
    $0
    From related orgs
    $387,359
    Other
    $43,409
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $245,224 related
    Bonus
    $0 + $129,512 related
    Other
    $0 + $12,623 related
    Deferred
    $0 + $7,940 related
    Nontaxable benefits
    $0 + $35,469 related
    Filer's total
    $0 + $430,768 related

  • KATHY BAILEY

    PRESIDENT & CEO

    Total calculated
    $979,442
    From this org
    $0
    From related orgs
    $965,485
    Other
    $13,957
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $600,355 related
    Bonus
    $0 + $362,492 related
    Other
    $0 + $2,638 related
    Deferred
    $0 + $3,664 related
    Nontaxable benefits
    $0 + $10,293 related
    Filer's total
    $0 + $979,442 related

  • NANCY LOVELACE

    ADMINISTRATOR LTC

    Total calculated
    $132,228
    From this org
    $117,435
    From related orgs
    $0
    Other
    $14,793
    Hours/week
    50

  • JEFFREY BRIGHT

    MARKETING DIRECTOR

    Total calculated
    $138,903
    From this org
    $122,120
    From related orgs
    $0
    Other
    $16,783
    Hours/week
    50

  • LINDA LACKEY

    NURSE MANAGER

    Total calculated
    $119,520
    From this org
    $103,874
    From related orgs
    $0
    Other
    $15,646
    Hours/week
    50

  • KENNETH CORMIER

    EXECUTIVE DIRECTOR

    Total calculated
    $122,705
    From this org
    $119,819
    From related orgs
    $0
    Other
    $2,886
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $88,057
    Bonus
    $30,812
    Other
    $950
    Deferred
    $2,688
    Nontaxable benefits
    $198
    Filer's total
    $122,705

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
ALL BENEFITS PROVIDED TO OFFICERS FACILITATE BUSINESS RELATIONSHIPS. BRHC PAID THE CLUB DUES FOR KATHY BAILEY.
PART I, LINE 3
IN 2021, THE ORGANIZATION TERMINATED THE MANAGEMENT SERVICES CONTRACT WITH ATRIUM HEALTH (FORMERLY CAROLINAS HEALTHCARE SYSTEM) AND ENTERED INTO A MANAGEMENT SERVICES CONTRACT WITH UNC HEALTH. THE ORGANIZATION COMPENSATION COMMITTEE REVIEWS AND APPROVES THE COMPENSATION PACKAGE.
PART I, LINE 4B
DURING THE YEAR, THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SECTION 457(F) PLAN: PATRICIA MOLL $ 11,792
PART I, LINE 6
BONUSES ARE PAID IF THE ORGANIZATION'S RESULTS MEET CERTAIN PERFORMANCE INDICATORS.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
25 April 2024
IRS schema version
2022v5.0
Source object
202421329349300722

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