Lifecare INC FY2024 filing

Tax-deductible

Kalamazoo, MI501(c)(3)Since 1971Human ServicesEIN 38-2067110Revenue $27.2M in FY2024

On file with the IRSfriendshipvillagemi.com1400 N Drake Rd, 49006-1978 · Kalamazoo, MITax-exempt since Sep 1974Publicly supported — 509(a)(2)

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To establish, operate and maintain retirement facilities for the elderly in michigan.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$861K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $159K a year · under 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$861K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $52K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$60.1M
95% of total assets
Concern: liabilities are 95% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27.2M
+5% vs prior year
Spent
$27.7M
To programs
87%
Net assets
$3.0M
By yearFY2020–FY2025
Revenue
$27.2M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$23.5M
FY2021$24.2M
FY2022$27.4M
FY2023$25.8M
FY2024$27.2M
FY2025$29.3M
Expenses
$27.7M
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$24.5M
FY2021$25.0M
FY2022$25.5M
FY2023$26.8M
FY2024$27.7M
FY2025$28.8M
Net assets
$3.0M
FY2024▲ +65%
Tap a bar for its year
Net assets by fiscal year
FY2020−$144K
FY2021$1.5M
FY2022$1.8M
FY2023$1.8M
FY2024$3.0M
FY2025$4.4M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $24.1M Management & general 13% · $3.6M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990; $861K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$237,808Pt VII · Sec A
Assistant Executive Director
$137,246Pt VII · Sec A
Marketing
$136,567Pt VII · Sec A
Director of Marketing
$123,839Pt VII · Sec A
Administrator - Part Year
$116,151Pt VII · Sec A
Director of Accounting Services
$109,515Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Tim Cain’s $233K as Executive Director is at the 57th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tim Cain$232,631$237,808$51,058———
Betsy Bale——$200,285$170,481$152,509$181,473
Kathryn Harmon—$116,151$159,390$116,395$123,768$118,171
David Riser$154,601$137,246————
Thomas Eller$136,567$136,567$116,101$102,212—$140,570
Diana Duncan$123,839$123,839$108,831$105,905$100,867$115,045
Kenneth Greshack——$113,016———
Linda Bailey$109,515$109,515$100,142———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers housing, food, nursing care, and services to senior citizens.

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Provided by the organization

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1 program · $24.1M · in their own filed words · FY2023
01

To establish, operate and maintain retirement facilities for the elderly in MICHIGAN.THE organization provides care to residents who meet certain criteria under its hardship discount policy without charge or at amounts less than its established rates.

$24.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$52K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$27.2M
Ln 12
Fees for servicesLn 2g$25.9M
Investment incomeLn 3$497K
Gifts and grantsLn 1h$432K
Money outPt IX
$27.7M
Ln 25
Programscol B$24.1M
Managementcol C$3.6M
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$13.2M
Total assetsLn 16$63.1M
LiabilitiesLn 26$60.1M
PeoplePt VI, VII
21
listed · VII A
PaidVII A6
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$432K
Government grantsLn 1e$348K
Fees for servicesLn 2g$25.9M
Investment incomeLn 3$497K
Other incomeLn 4–11$406K
Gains on assetsLn 7$38K
Total revenueLn 12$27.2M
Assets in detailPt X, end of year
CashLn 1$5.5M
SavingsLn 2$7.7M
Cash and savings togetherLn 1–2$13.2M
InvestmentsLn 11–13$8.1M
Land, buildings, equipmentLn 10c$40.3M
Total assetsLn 16$63.1M
LiabilitiesLn 26$60.1M
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 5471
VolunteersI 620
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$12.9M$13.2M
InvestmentsLn 11–13$6.8M$8.1M
Land, buildings, equipmentLn 10c$39.9M$40.3M
Total assetsLn 16$61.2M$63.1M
LiabilitiesLn 26$59.4M$60.1M
Net assetsLn 32$1.8M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$451K$451K
Other salaries and wagesLn 7$12.0M$11.5M$468K
Pension plan contributionsLn 8$97K$84K$13K
Other employee benefitsLn 9$1.6M$1.4M$258K
Payroll taxesLn 10$954K$888K$66K
Management feesLn 11a$1.3M$1.3M
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$90K$90K
Investment management feesLn 11f$51K$51K
Other fees for servicesLn 11g$1.0M$900K$115K
Advertising and promotionLn 12$291K$291K
OccupancyLn 16$2.2M$2.1M$101K
InterestLn 20$916K$916K
Depreciation, depletion and amortizationLn 22$2.4M$2.2M$243K
InsuranceLn 23$356K$321K$36K
Other expenses (24a–d)Ln 24$3.8M$3.5M$342K
All other expensesLn 24e$111K$54K$57K
Total functional expensesLn 25$27.7M$24.1M$3.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $29.3M$28.8M$488K$4.4M 990 PDF
FY2024 Viewing $27.2M$27.7M−$507K$3.0M 990 PDF
FY2023 $25.8M$26.8M−$973K$1.8M 990 PDF
FY2022 $27.4M$25.5M$1.9M$1.8M 990 PDF
FY2021 $24.2M$25.0M−$788K$1.5M 990 PDF
FY2020 $23.5M$24.5M−$1.1M−$144K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $27,216,374 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $457,028$432,132
I-9 Program service revenuePrior year $24,590,128$25,881,482
I-10 Investment incomePrior year $282,659$496,583
I-11 Other revenuePrior year $518,355$406,177
I-12 Total revenuePrior year $25,848,170$27,216,374
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $14,471,853$15,125,011
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $12,349,296$12,597,940
I-18 Total expensesPrior year $26,821,149$27,722,951
I-19 Revenue less expensesPrior year −$972,979−$506,577
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $27,216,374 across 8 lines filed
Lines not itemized here account for $307,099 of total revenue; see the IRS return.
VIII-1e Government grants$348,046
VIII-1f All other contributions, gifts and grants$84,086
VIII-1h Total contributions, gifts and grants$432,132
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $25,720,818$25,720,818
VIII-3 Investment incomeExcluded from tax $458,298$458,298
VIII-7 Net gain or loss on sales of assetsExcluded from tax $38,285$38,285
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $259,742$259,742
VIII-12 Total revenueRelated to mission $25,881,482 · Unrelated business $0 · Excluded from tax $902,760$27,216,374
Part IX · Statement of functional expenses $27,722,951 across 17 lines filed
IX-5 Pay of current officers, directors and key staffManagement $450,522$450,522
IX-7 Other salaries and wagesPrograms $11,517,082 · Management $468,189$11,985,271
IX-8 Pension plan contributionsPrograms $84,019 · Management $13,231$97,250
IX-9 Other employee benefitsPrograms $1,380,307 · Management $257,753$1,638,060
IX-10 Payroll taxesPrograms $888,401 · Management $65,507$953,908
IX-11a Management feesManagement $1,308,956$1,308,956
IX-11b Legal feesManagement $10,776$10,776
IX-11c Accounting feesManagement $89,650$89,650
IX-11f Investment management feesManagement $51,146$51,146
IX-11g Other fees for servicesPrograms $899,821 · Management $115,226$1,015,047
IX-12 Advertising and promotionPrograms $290,858$290,858
IX-16 OccupancyPrograms $2,110,853 · Management $100,858$2,211,711
IX-20 InterestPrograms $915,977$915,977
IX-22 Depreciation, depletion and amortizationPrograms $2,183,031 · Management $242,559$2,425,590
IX-23 InsurancePrograms $320,607 · Management $35,623$356,230
IX-24 Other expenses (24a–d)Programs $3,469,159 · Management $342,015$3,811,174
IX-24e All other expensesPrograms $53,844 · Management $56,981$110,825
IX-25 Total functional expensesPrograms $24,113,959 · Management $3,608,992 · Fundraising $0$27,722,951
Part X · Balance sheet $63,127,220 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $4,979,370$5,516,821
X-2 Savings and temporary cash investmentsStart of year $7,903,543$7,693,784
X-4 Accounts receivableStart of year $906,607$840,868
X-8 Inventories for sale or useStart of year $204,034$195,679
X-9 Prepaid expenses and deferred chargesStart of year $489,569$474,933
X-10c Land, buildings and equipment, netStart of year $39,900,439$40,282,318
X-11 Publicly traded securitiesStart of year $6,802,320$8,122,817
X-16 Total assetsStart of year $61,185,882$63,127,220
X-17 Accounts payable and accrued expensesStart of year $2,289,745$2,179,967
X-19 Deferred revenueStart of year $13,202,360$13,447,740
X-20 Tax-exempt bond liabilitiesStart of year $21,576,254$21,145,203
X-25 Other liabilitiesStart of year $22,282,342$23,327,221
X-26 Total liabilitiesStart of year $59,350,701$60,100,131
X-27 Net assets without donor restrictionsStart of year −$5,426,924−$5,925,050
X-28 Net assets with donor restrictionsStart of year $7,262,105$8,952,139
X-32 Total net assets or fund balancesStart of year $1,835,181$3,027,089
X-33 Total liabilities and net assetsStart of year $61,185,882$63,127,220
Part XI · Reconciliation of net assets $3,027,089 net assets at year end
XI-1 Total revenue$27,216,374
XI-2 Total expenses$27,722,951
XI-3 Revenue less expenses−$506,577
XI-4 Net assets at start of year$1,835,181
XI-5 Net unrealized gains (losses) on investments$1,698,485
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,027,089

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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