Overview
What is The Chapel Hill Residential Retirement Center Inc?
The Chapel Hill Residential Retirement Center Inc, also known as Carol Woods Retirement Community, is a charitable, not-for-profit organization based in Chapel Hill, North Carolina. They operate a Continuing Care Retirement Community (CCRC) with 315 independent living apartments/cottages, 59 assisted living accommodations, and a 60-bed healthcare center. This community serves approximately 600 seniors under life care arrangements, including 86 living permanently in assisted living and the healthcare center. The organization offers a CCRC without lodging program approved by the Department of Insurance, serving an average of 104 seniors per year. Carol Woods is dedicated to providing a safe, healthy, and secure environment for older adults, focusing on their housing, health, well-being, and financial security. The mission includes cooperative research, development, and education in related areas. They provide charitable assistance to residents in need, donate funds to local organizations, and offer in-kind benefits to the community through educational opportunities and material donations. The total workforce comprises 447 employees.
Official website here: www.carolwoods.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
The Chapel Hill Residential Retirement Center Inc has achieved an overall rating of 81%, reflecting a strong performance in accountability and finance. This rating indicates that the organization is taking significant steps to maintain transparency and fiscal responsibility. The majority of board members are independent, and the center has a solid structure for oversight, including a functioning audit committee and comprehensive financial policies in place.
Strengths highlighted include a high program expense ratio of 82.68%, showcasing a commitment to directing funds towards its mission rather than administrative costs. The organization is also noted for having effective governance practices, with well-defined policies for conflict of interest and whistleblower protection. Additionally, the website's compliance with disclosure requirements further supports its credibility.
While the rating indicates solid performance, it does not provide insights into program effectiveness or community impact, which are essential factors for potential donors or supporters. The high salaries of key personnel may raise questions about compensation relative to services provided, although this is not uncommon in the nonprofit sector. Overall, the Chapel Hill Residential Retirement Center Inc demonstrates a reliable commitment to accountability but may benefit from more transparency regarding its program outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is The Chapel Hill Residential Retirement Center Inc legitimate?
The Chapel Hill Residential Retirement Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Chapel Hill Residential Retirement Center Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,673,388
Professional Fundraising Fees: $0
Other Salaries and Wages: $12,586,940
For more financial information, click here
Official website here: www.carolwoods.org
What is the mission statement of The Chapel Hill Residential Retirement Center Inc?
The Chapel Hill Residential Retirement Center Inc is a charitable organization dedicated to meeting the needs of older adults. Its mission is to provide a safe, healthy, and secure environment for seniors, focusing on their housing, health, well-being, and financial security. The center aims to promote residents' ongoing health and well-being with appropriate resources and encourages their leadership, participation, and service to the community. Additionally, the organization values high-quality residential living and healthcare services tailored to individual needs. It fosters a positive work experience for staff, facilitating their development and embodying the organization's values.
Official website here: www.carolwoods.org
Who is the CEO of The Chapel Hill Residential Retirement Center Inc?
Marianne Ratcliffe is the Vice Chair Of The Board of The Chapel Hill Residential Retirement Center Inc. The CEO's salary of The Chapel Hill Residential Retirement Center Inc is $279,662 and their total compensation is $301,574.
Official website here: www.carolwoods.org
What is the revenue of The Chapel Hill Residential Retirement Center Inc?
The Chapel Hill Residential Retirement Center Inc's revenue in 2022 was $31,949,437.
Official website here: www.carolwoods.org
Who are the executives of The Chapel Hill Residential Retirement Center Inc and what are their salaries?
The average compensation at The Chapel Hill Residential Retirement Center Inc during 2022 was $31,902. There are 447 employees at The Chapel Hill Residential Retirement Center Inc.
Here are 26 key members and their salaries (The Chapel Hill Residential Retirement Center Inc's CEO's salary is $279,662 and their total compensation is $301,574):
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- Compensation: $279,662
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- Other: $21,912
- Compensation: $220,479
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- Compensation: $159,210
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- Other: $15,662
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- Compensation: $123,633
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- Compensation: $117,045
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- Other: $14,904
- Compensation: $104,294
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- Other: $14,224
Official website here: www.carolwoods.org
Where can I find the form 990 for The Chapel Hill Residential Retirement Center Inc?
The Chapel Hill Residential Retirement Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.carolwoods.org
Learn more at the official website: www.carolwoods.org
Mission Statement of The Chapel Hill Residential Retirement Center Inc
The Chapel Hill Residential Retirement Center Inc is a charitable organization dedicated to meeting the needs of older adults in terms of housing, health, well-being, and financial security. Its mission is to provide a safe, healthy, and secure environment for seniors throughout their later years. This includes offering high-quality residential living and healthcare services tailored to each resident's individual needs. The organization supports residents in maintaining and promoting their health and well-being through the provision of appropriate resources.
Carol Woods, as the organization is called, encourages diversity and values residents' leadership and participation. It fosters a high-quality work experience for staff and facilitates staff development that embodies the organization's values. The mission of Carol Woods extends beyond the provision of essential services to older adults. It also includes cooperative research, development, and education in areas related to the mission. By doing so, the organization strives to make a positive impact on the lives of its residents and the broader community.
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Impact
October, 2024
The Chapel Hill Residential Retirement Center Inc has made a significant impact on the lives of seniors in the Chapel Hill area by providing a comprehensive continuum of care through its Continuing Care Retirement Community (CCRC). With 315 independent living apartments and cottages, as well as 59 assisted living accommodations and a 60-bed health center, it serves an average of 600 seniors, ensuring they have access to housing, healthcare, and vital support services.
The center not only focuses on immediate residential needs but also emphasizes long-term well-being. Its Life Care arrangements allow for seamless transitions between living arrangements as residents' needs evolve, offering peace of mind about their future healthcare requirements. This model fosters a community where seniors can maintain their independence while still receiving the assistance they may need as they age.
In addition to direct care services, the center actively contributes to the broader community through financial assistance and charitable gifts. It provided $193,540 in financial support to residents in need and made significant donations to local organizations and public services, totaling over $700,000. These contributions demonstrate a commitment to enhancing the quality of life for not only the residents but also for the entire community.
Furthermore, The Chapel Hill Residential Retirement Center Inc engages in educational outreach by offering internships and learning opportunities in various fields related to aging services. This initiative not only enriches the experience of students but also elevates the community's understanding and resources surrounding senior care.
Overall, its multifaceted approach to senior living, commitment to community engagement, and proactive support for residents' health and well-being make The Chapel Hill Residential Retirement Center Inc a vital resource in the region, positively impacting the lives of seniors and the surrounding community alike.
This information is meant to be a general summary of The Chapel Hill Residential Retirement Center Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,397,174
- Program Service Revenue: $30,186,058
- Gross Receipts: $34,933,844
Assets and Liabilities:
- Total Assets: $120,640,930
- Total Liabilities: $91,665,519
- Net Assets: $28,975,411
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENT CHARGES
Revenue
$26,048,932
HEALTH CENTER - CHRRC
Revenue
$3,875,057
GUESTS' MEALS AND LODGING
Revenue
$162,879
Organization Details
Founding Year
1972
Phone
(919) 968-4511Principal Officer
Marianne Ratcliffe
Main Address
750 WEAVER DAIRY ROAD, CHAPEL HILL, NC, 27514
Website
www.carolwoods.orgNTEE Category
Code: L220 - Housing
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