Chapel Hill Residential Retirement Center Inc

Organization Overview

Chapel Hill Residential Retirement Center Inc, operating under the name Carol Woods Retirement Community, is located in Chapel Hill, NC. The organization was established in 1973. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Carol Woods Retirement Community employed 447 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carol Woods Retirement Community is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2022, Carol Woods Retirement Community generated $31.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $32.5m during the year ending 12/2022. While expenses have increased by 2.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Carol Woods Retirement Community has awarded 102 individual grants totaling $4,398,183. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

OPERATION OF A CCRC PROVIDING HOUSING, HEALTHCARE, AND OTHER SERVICES TO SENIORS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED HOUSING, HEALTHCARE AND OTHER RELATED SERVICES TO SENIORRESIDENTS THROUGH OPERATION OF A CONTINUING CARE RETIREMENTCOMMUNITY (CCRC) CONTAINING 315 INDEPENDENT LIVING APARTMENTS/COTTAGES, 59 ASSISTED LIVING ACCOMMODATIONS, AND A 60-BED HEALTHCENTER. SERVED AN AVERAGE OF 600 SENIORS UNDER LIFE CARE ARRANGEMENTS,INCLUDING AN AVERAGE OF 86 LIVING PERMANENTLY IN ASSISTED LIVING AND THEHEALTH CENTER. OFFER A CCRC WITHOUT LODGING PROGRAM APPROVED BY THENC DEPARTMENT OF INSURANCE. SERVED AN AVERAGE OF 104 IN THE PROGRAMOVER THE COURSE OF THE YEAR. CONTINUED PROACTIVE AND INTENTIONALCHARITABLE CARE AND COMMUNITY BENEFIT PROGRAM, INCLUDING: 1) PROVIDED$193,540 IN FINANCIAL ASSISTANCE TO RESIDENTS IN NEED; 2) MADE CHARITABLEGIFTS TO ORANGE COUNTY ($175,000), TOWN OF CHAPEL HILL ($100,000), AND THELOCAL PUBLIC SCHOOLS ($30,000) TO SUPPORT VITAL SERVICES TO SENIORS INTHE COMMUNITY; AND 3) MADE $392,336 IN CHARITABLE GIFTS AND FINANCIALSUPPORT TO OTHER LOCAL NON-PROFIT ORGANIZATIONS PURSUING MISSIONSSIMILAR TO CAROL WOODS. CONTINUED TO PROVIDE IN-KIND BENEFITS TO THEOUTSIDE COMMUNITY, INCLUDING: 1) MAKING AVAILABLE CAROL WOODS' CAMPUSAND STAFF FOR A VARIETY OF EDUCATIONAL AND COMMUNITY SUPPORTPURPOSES -- PROVIDING INTERNSHIPS AND OTHER OPPORTUNITIES FORSTUDENTS TO LEARN OF AGING SERVICES OPPORTUNITIES IN DISCIPLINESRANGING FROM MEDICAL AND NURSE PRACTITIONER, TO NURSING, SOCIAL WORKAND CERTIFIED NURSING ASSISTANTS; 2) DONATED BUILDING MATERIALS TO THEHABITAT RESTORE AND OTHER ITEMS TO THE AREA THRIFT STORE.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Rosco's Remodeling
Carpentry, General Building Repairs
$1,253,539
Ct Wilson General Contractors
General Contractor
$1,730,390
Jd Service Now
Licensed Plumbing Subcontractor
$878,508
Icon Boiler
Hvac Contractor
$741,880
Triangle Electric
Licensed Electrical Subcontractor
$413,221
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$220,405
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$220,405
Total Program Service Revenue$30,186,058
Investment income $1,685,926
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $145,800
Net Gain/Loss on Asset Sales -$288,752
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $31,949,437

Grants Awarded

Over the last fiscal year, Chapel Hill Residential Retirement Center Inc has awarded $683,200 in support to 16 organizations.

Grant RecipientAmount

ORANGE COUNTY NORTH CAROLINA

PURPOSE: GENERAL SUPPORT, SENIOR SERVICES

$175,000

TOWN OF CHAPEL HILL

PURPOSE: GENERAL SUPPORT, SENIOR SERVICES

$100,000

Chapel Hill, NC

PURPOSE: BELOW-MARKET RENTS FOR SENIOR DAY CARE CENTER

$60,000

CHAPEL HILL-CARRBORO MEALS ON WHEELS

Org PageRecipient Profile

Chapel Hill, NC

PURPOSE: MEALS FOR FOOD-INSECURE SENIORS

$50,000

LOCAL START DENTAL

Org PageRecipient Profile

Durham, NC

PURPOSE: GERIATRIC DENTAL CARE FOR LOW INCOME SENIORS

$50,000

UNC SCHOOL OF MEDICINE DEPARTMENT OF MEDICINE

Org PageRecipient Profile

Chapel Hill, NC

PURPOSE: GERIATRIC MEDICINE WORKFORCE DEVELOPMENT

$46,200
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Chapel Hill Residential Retirement Center Inc has recieved totaling $220,405.

Awarding OrganizationAmount
Carol Woods Charitable Fund Inc

Chapel Hill, NC

PURPOSE: REIMBURSEMENT FOR CHARITABLE EXPENSES INCLUDING RESIDENT ASSISTANCE, EMPLOYEE DEVELOPMENT AND GIFTED GARDEN MAINTENANCE.

$220,405
View Grant Recipient Profile

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