2025-09-24T08:34:25-05:00 2024-09-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-10-01 560562308 BAPTIST RETIREMENT HOMES OF NORTH CAROLINA INCORPORATED BAPT 3367250202 PO BOX 11024 WINSTON SALEM NC 27116 MICHAEL J BRADY CHIEF FINANCIAL OFFICER 3367250202 2025-09-20 1 0 KATHERINE A WARLICK P02065266 7049985200 2025-09-20 2023 2025-03-06 01:10:19Z THRIVEMORE REED A VANDERSLIK PO BOX 11024 WINSTON SALEM NC 27116 44347284 0 X WWW.THRIVEMORENC.ORG X 1952 NC TO PROVIDE QUALITY LIVING OPTIONS AND SERVICES TO NORTH CAROLINA'S OLDER ADULT POPULATION. 19 19 813 400 0 0 3322424 2902057 38602778 39878751 9861571 1252119 244811 262884 52031584 44295811 1595246 1267769 0 0 22992929 22194914 0 0 0 22896313 28516438 47484488 51979121 4547096 -7683310 136825376 189607114 58923885 109336043 77901491 80271071 X BAPTIST RETIREMENT HOMES OF NORTH CAROLINA, INC. DBA THRIVEMORE IS A CHURCH RELATED NOT-FOR-PROFIT ORGANIZATION COMMITTED TO PROVIDING QUALITY CARE AND A MEANINGFUL WAY OF LIFE FOR RESIDENTS AND STAFF... (CONTINUED ON SCHEDULE O)A PLACE WHERE RESIDENTS AND STAFF BECOME AN EXTENSION OF FAMILY THAT RECOGNIZES THE DIGNITY AND WORTH OF EACH INDIVIDUAL. 0 0 41276322 1267769 40139435 THRIVEMORE IS A NOT-FOR-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF NORTH CAROLINA. IT IS EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501[C][3] AND A PUBLIC CHARITY UNDER SECTION 509[A][2]. THE BOARD OF TRUSTEES OF THRIVEMORE HAS FIDUCIARY RESPONSIBILITY FOR THE OPERATION OF THRIVEMORE. THE MISSION OF THRIVEMORE IS TO PROVIDE QUALITY RESIDENTIAL AND HEALTH CARE LIVING OPTIONS AND SERVICES TO NORTH CAROLINA'S OLDER ADULT POPULATION. THE PROVISION OF THOSE SERVICES BEING OFFERED TO THE POOR ELDERLY OF THE STATE AS WELL AS THOSE OLDER PERSONS WHO DO HAVE THE FINANCIAL RESOURCES AVAILABLE TO PAY FOR THE INSTITUTIONAL SERVICES THEY NEED. (CONTINUED ON SCHEDULE O)IN ADDITION TO ITS PROGRAM OF BENEVOLENT FUNDING TO THE POOR ELDERLY OF THE STATE, THRIVEMORE ALSO PROVIDES A SPECIAL PROGRAM DESIGNED TO ENHANCE THE LIFESTYLE OF OLDER ADULTS WITH DEMENTIA RELATED DISORDERS LIKE ALZHEMER'S DISEASE. THREE SUCH PROGRAMS ARE OPERATED BY THRIVEMORE. THRIVEMORE OWNS, MAINTAINS, AND OPERATES COMMUNITIES THROUGHOUT NORTH CAROLINA. ITS CURRENT COMMUNITIES INCLUDE 357 INDEPENDENT LIVING HOMES AND APARTMENTS, 136 ASSISTED LIVING RESIDENCES, AND 101 SKILLED NURSING CARE ROOMS. THRIVEMORE RECEIVES SUPPORT FROM INDIVIDUALS, BUSINESSES, FOUNDATIONS, CHURCHES, SPECIAL OFFERINGS, AND BEQUESTS FROM OTHERS TO ASSIST IN THE OPERATION AND ADMINISTRATION OF ITS COMMUNITIES. 41276322 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 145 0 1 813 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X MICHAEL BRADY CFO 3367250300 470 W HANES MILL RD SUITE 101 WINSTON SALEM NC 27105 CHARLES D MAST CHAIR 1.00 0.00 X X 0 0 0 DANIEL RICE IMMEDIATE PAST CHAIR 1.00 0.00 X X 0 0 0 BETTY LYNNE JOHNSON VICE CHAIR 1.00 0.00 X X 0 0 0 SARAH MAYO TREASURER 1.00 0.00 X X 0 0 0 JANET BLANFORD SECRETARY 1.00 0.00 X X 0 0 0 SOBEIDA ADOLPHUS TRUSTEE 1.00 0.00 X 0 0 0 PERRY BAILEY TRUSTEE 1.00 0.00 X 0 0 0 DR TABARA CAPLE TRUSTEE 1.00 0.00 X 0 0 0 DR JO CLEVELAND TRUSTEE 1.00 0.00 X 0 0 0 POWELL DREW TRUSTEE 1.00 0.00 X 0 0 0 PHIL FEAGAN TRUSTEE 1.00 0.00 X 0 0 0 SAMMY GIANOPOULOS TRUSTEE 1.00 0.00 X 0 0 0 CAROLYN D HELMS TRUSTEE 1.00 0.00 X 0 0 0 DAVE HORNE TRUSTEE 1.00 0.00 X 0 0 0 RALPH MORGAN TRUSTEE 1.00 0.00 X 0 0 0 NIDRA RICKS TRUSTEE 1.00 0.00 X 0 0 0 DRNATHAN SCOVENS TRUSTEE 1.00 0.00 X 0 0 0 DR MICHAEL R TAYLOR TRUSTEE 1.00 0.00 X 0 0 0 BOBBY F WATSON TRUSTEE 1.00 0.00 X 0 0 0 REED VANDERSLIK CEO 36.00 4.00 X 384611 0 48222 SCOTT FARKAS CFO - THRU 9/26/23 36.00 4.00 X 153408 0 40927 MICHAEL BRADY CFO - AS OF 2/12/24 36.00 4.00 X 0 0 0 JESSICA MCCOLLUM CHIEF OPERATING OFFICER 40.00 0.00 X 220598 0 29164 JENNIFER BARTSCHT CHIEF MARKETING OFFICER 40.00 0.00 X 183231 0 28453 TATUM MYERS EXECUTIVE DIRECTOR 40.00 0.00 X 140899 0 25137 CYNTHIA MOORE EXECUTIVE DIRECTOR 40.00 0.00 X 149936 0 0 CONNIE MCBRIDE LPN 40.00 0.00 X 124921 0 463 SHANNON SEARS DIRECTOR, CLINICAL COMPLIANCE 40.00 0.00 X 119225 0 10831 1476829 0 183197 11 0 1 0 BROAD RIVER REHAB 1 POND ST ARDEN NC 28704 THERAPY PROVIDER 2872744 A&G SUPERIOR PAINTING 603 WAUGH ST GREENSBORO NC 27405 CONSTRUCTION SERVICES 1158757 KENCO ELECTRIC INC PO BOX 300 TOBACCOVILLE NC 27050 CONTRACT ELECTRICAL 995926 A-1 RENOVATION INC 3264 ROBINHOOD ROAD WINSTONSALEM NC 27106 CONSTRUCTION SERVICES 988915 SFCS 305 SOUTH JEFFERSON STREET ROANOKE VA 24011 RENOVATIONS 857674 52 2902057 2902057 RESIDENT SERVICES 623000 39878751 39878751 39878751 780110 780110 2200 0 2200 2200 2200 523482 0 51473 523482 -51473 472009 472009 MISCELLANEOUS 623000 260684 260684 260684 44295811 40139435 0 1254319 575000 575000 692769 692769 17789697 13795161 3994536 184660 104713 79947 2899967 2297144 602823 1320590 1052921 267669 401918 401918 253743 253743 68540 68540 4652435 3533286 1119149 1026470 657108 369362 1490213 1200573 289640 564790 12987 551803 1581678 1426375 155303 97411 15649 81762 88789 9988 78801 2039679 2039679 10181351 8583116 1598235 533326 533326 FOOD 1914856 1858294 56562 REPAIRS AND MAINTENANCE 1879993 1686097 193896 CREDIT LOSS 1184334 1184334 MEDICAL SUPPLIES 324532 324532 232380 226596 5784 51979121 41276322 10702799 0 15457 3961275 6397857 157500 2621883 3059725 2500000 2500000 140482 126891 200109 566228 159226515 72498090 54115249 86728425 18733694 22774941 44134375 51757821 15342454 10260809 337315 136825376 189607114 3736278 4750474 25543003 49408028 36233 7807 29608371 54870505 0 299229 58923885 109336043 X 55306824 56045943 22594667 24225128 77901491 80271071 136825376 189607114 X -7683310 3162059 6890831 X X 0 1 X 1 0 X 2838860 5316887 1419598 3222424 2902057 15699826 24795083 25235537 34663957 38602778 39878751 163176106 27633943 30552424 36083555 41825202 42780808 178875932 16780 10025 6000 4000 36805 0 16780 10025 6000 4000 36805 178839127 464430 468944 1850623 583723 782310 4150030 464430 468944 1850623 583723 782310 4150030 670184 255462 450055 203402 260684 1839787 28768557 31276830 38384233 42612327 43823802 184865749 0.96740 0.96420 0.02240 0.02360 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: ALL OTHER INCOME - 2019 AMOUNT: $ 670,184. 2020 AMOUNT: $ 255,462. 2021 AMOUNT: $ 450,055. 2022 AMOUNT: $ 203,402. 2023 AMOUNT: $ 260,684. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 7996410 1721917 291781 9426546 7501840 985916 491346 7996410 7882390 1505143 -1885693 7501840 6839731 1139430 96771 7882390 6693357 243145 96771 6839731 0.28995 0.71005 0.00000 0 0 11741881 11741881 129024479 68446236 60578243 5169416 3400305 1769111 13290739 651549 12639190 86728425 CHARITABLE REMAINDER TRUSTS 1526252 F INVESTMENT IN AFFILIATE 45164188 F BENEFITICAL INTEREST IN PERPETUAL TRUST 5067381 F 51757821 DUE TO RELATED ORGANIZATION 299229 299229 X PART IV, LINE 2B: RESIDENT FUNDS HELD IN TRUST. PART V, LINE 4: RESTRICTED FUNDS ARE INTENDED FOR RESIDENT ASSISTANCE AND OTHER RESTRICTED PROGRAMS. PART X, LINE 2: THE HOMES AND THE FOUNDATION ARE NONPROFIT ORGANIZATIONS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3). THE HOMES AND THE FOUNDATION FILE AS TAX-EXEMPT ORGANIZATIONS. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF THE HOMES OR THE FOUNDATION. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR THE HOMES OR THE FOUNDATION. THE HOMES AND THE FOUNDATION FOLLOW GUIDANCE IN THE INCOME TAX STANDARD REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THE STANDARD HAS HAD NO IMPACT ON THE HOMES OR THE FOUNDATION'S CONSOLIDATED FINANCIAL STATEMENTS. SCHEDULE D, PART V, LINE 2 IN PRIOR YEAR REPORTING, THE PERCENTAGE OF YEAR END BALANCE HELD AS BOARD DESIGNATED OR QUASI-ENDOWMENT AND THE PERCENTAGE OF YEAR END BALANCE HELD AS PERMANENT ENDOWMENT, WERE INADVERTENTLY REPORTED ON THE INCORRECT LINE. THIS ERROR HAS BEEN CORRECTED IN THE CURRENT YEAR, AND THE PERCENTAGE ALLOCATION ACCURATELY REPRESENTS THE PERCENTAGE OF YEAR END BALANCE BY TYPE OF HOLDING AS REPORTED IN THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS. 1 BAPTIST RETIREMENT HOMES FOUNDATION PO BOX 11024 WINSTOM SALEM NC 11024 562205837 501(C)(3) 575000 0 TRANSFER OF RESTRICTED FUNDS 1 0 BRH RESIDENTS - BENEVOLENCE 30 692769 SPECIAL ASSISTANCE AND BENEVOLENT CARE PART I, LINE 2: BENEVOLENCE IS BASED ON PAYOR (MEDICARE, MEDICAID, ETC.) AND ABILITY TO PAY. REQUESTS FOR BENEVOLENT ASSISTANCE ARE REVIEWED AND APPROVED BY THE PRESIDENT. BENEVOLENCE IS RECORDED AS A CONTRA-REVENUE ON A MONTHLY BASIS. THE TRUSTEES APPROVE PROJECTS AND GIVE GENERAL GUIDANCE ON BENEVOLENCE. THE BAPTIST RETIREMENT HOMES FOUNDATION AGREED TO REIMBURSE HOMES FOR THESE PROJECTS THAT BENEFIT POOR SENIOR ADULTS IN NORTH CAROLINA. THE ORGANIZATION REQUESTS SUPPORT THROUGH A LETTER TO BAPTIST RETIREMENT HOMES. SCHEDULE I, PART III, COLUMN B THE ORGANIZATION ESTIMATED THAT 40% OF THE TOTAL RESIDENT POPULATION SERVED UTILIZES SOME TYPE OF FINANCIAL ASSISTANCE. X X X 0 0 0 0 0 0 0 1 0 REED VANDERSLIK CEO 360782 0 23433 0 396 0 13200 0 35022 0 432833 0 0 0 JESSICA MCCOLLUM CHIEF OPERATING OFFICER 206605 0 13933 0 60 0 8467 0 20697 0 249762 0 0 0 JENNIFER BARTSCHT CHIEF MARKETING OFFICER 148993 0 34095 0 143 0 5073 0 23380 0 211684 0 0 0 SCOTT FARKAS CFO - THRU 9/26/23 140694 0 12672 0 42 0 6014 0 34913 0 194335 0 0 0 TATUM MYERS EXECUTIVE DIRECTOR 140851 0 0 0 48 0 4362 0 20775 0 166036 0 0 0 PART I, LINE 7 THE ORGANIZATION MAINTAINS A BOARD-APPROVED, WRITTEN POLICY FOR DETERMINING BONUSES FOR THE EXECUTIVE LEADERSHIP TEAM. BONUSES ARE DETERMINED BY WHETHER CERTAIN ORGANIZATIONAL GOALS HAVE BEEN MET DURING THE PRIOR YEAR. THEN BASED ON THE NUMBER OF GOALS MET AND THE DEGREE GOALS MAY HAVE BEEN EXCEEDED, A BONUS RECOMMENTATION IS BROUGHT BY THE PERSONNEL COMMITTEE OF THE THRIVEMORE BOARD OF DIRECTORS TO THE FULL THRIVEMORE BOARD. DURING THE FISCAL YEAR, BONUSES WERE PAID TO JESSICA MCCOLLUM, REED VANDERSLIK, AND JENNIFER BARTSCHT. FORM 990, PART VI, SECTION B, LINE 11B 990S ARE REVIEWED THROUGH THE FINANCE COMMITTEE AND, THEN, REVIEWED BY THE FULL BOARD FOR ACCEPTANCE/APPROVAL FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, TRUSTEES MUST COMPLETE A "NON-CONFLICT OF INTEREST" QUESTIONNAIRE. ADDITIONALLY, EMPLOYEES MUST DISCLOSE ALL PERTINENT FACTS SURROUNDING A POTENTIAL CONFLICT OF INTEREST TO HIS OR HER IMMEDIATE SUPERVISOR. THE ORGANIZATION'S CONFLICT OF INTEREST STATEMENT OUTLINES THE ACTIVITIES EMPLOYEES SHOULD AVOID WITHOUT PRIOR APPROVAL OF THE BOARD OF TRUSTEES, AND PROVIDES STEPS TO BE TAKEN IF A POSSIBLE CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE COMPENSATION FOR OFFICERS, DIRECTORS AND KEY EMPLOYEES IS REVIEWED BY THE PERSONAL COMMITTEE, WITH THE BOARD REVIEWING AND ULTIMATELY APPROVING COMPENSATION ADJUSTMENTS. THE COMPENSATION FOR THOSE POSITIONS ARE COMPARED TO SIMILAR POSITIONS AT LIKE ORGANIZATIONS. THE PERSONNEL COMMITTEE WILL COMMISSION INDEPENDENT STUDIES WHEN IT FEELS THEY ARE NECESSARY. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST AND IN ACCORDANCE WITH REGULATORY REQUIREMENTS. FINANCIAL STATEMENTS CAN ALSO BE FOUND AT THE NC DEPARTMENT OF INSURANCE WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 486,983. CHANGE IN UNREALIZED GAINS ON INVESTMENTS 150,590. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 239,086. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 6,897,376. ACCRETED INTEREST -883,204. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS AUDITOR SELECTION OR OVERSIGHT PROCESS FROM THE PRIOR YEAR. BAPTIST RETIREMENT HOMES FOUNDATION 1912 BETHABARA ROAD WINSTON SALEM NC 27106 562205837 SUPPORT BRH NC 501(C)(3) LINE 12A, I BRHNC INC 1 0 1 1 0 0 0 0 0 1 0 0 1 0 1 1 1 0 0 0 BAPTIST RETIREMENT HOMES FOUNDATION B 2902057 INTERCOMPANY TRANSFER BAPTIST RETIREMENT HOMES FOUNDATION C 575000 INTERCOMPANY TRANSFER