Advanced Home Care Inc
- Assets
- $59.6m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/1994
- Data as of
- 09/2023
- EIN
- 56-1844651
Organization Overview
Advanced Home Care Inc is located in Charlotte, NC. The organization was established in 1994. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advanced Home Care Inc 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 09/2023, Advanced Home Care Inc generated $13.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (25.2%) each year. All expenses for the organization totaled $1.3m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (43.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOME HEALTH CARE SERVICES TO THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANCED HOME CARE CEASED OPERATIONS IN FEBRUARY 2020. FINANCIAL INFORMATION PROVIDED IS WIND DOWN ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geoff Gardner Board Chair | OfficerTrustee | 1 | $0 |
Andy Barrow Member | Trustee | 1 | $0 |
Neil Luria Member | Trustee | 1 | $0 |
Marvin Eichorn Member | Trustee | 1 | $0 |
Paul Grosswald Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cornerstone Therapy Services Staffing Home Health Services | 9/29/20 | $1,287,167 |
Courier Express Courier Services | 9/29/20 | $1,287,167 |
Womble Bond Dickinson (Us) Llp Legal | 9/29/20 | $924,045 |
Ceprint Solutions Inc Printing | 9/29/20 | $213,264 |
Total Triage Patient Call Center | 9/29/20 | $205,977 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,155,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $139,473 |
| Fees for services: Accounting | $5,103 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $673,185 |
| Advertising and promotion | $0 |
| Office expenses | $312 |
| Information technology | $67 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $74,857 |
| All other expenses | $0 |
| Total functional expenses | $1,327,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,448,283 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,641,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,708 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,490,000 |
| Total assets | $59,581,444 |
| Accounts payable and accrued expenses | $228,422 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $228,422 |
| Net assets without donor restrictions | $59,353,022 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $59,581,444 |
Grants Awarded
Over the last fiscal year, Advanced Home Care Inc has awarded $96,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WELLSTAR COMMUNITY HOSPICE CO WELLSTAR HEALTH SYSTEM PURPOSE: GENERAL SUPPORT | $25,500 |
NISWONGER CHILDREN'S HOSPITAL CO BALLAD HEALTH PURPOSE: GENERAL SUPPORT | $35,500 |
UNITED WAY OF NORTHERN SHENANDOAH VALLEY PURPOSE: GENERAL SUPPORT | $35,500 |