McCready Foundation INC EIN 52-0607921

McCready Foundation INC FY2022 filing

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Provides care and housing for seniors in nursing homes and assisted living facilities. For fiscal year 2022 it reported $10.2M in revenue, $14.2M in expenses, and $3.1M in net assets.Pt I

Founded
1923
Type
Hospital · Hospitals
Location
Crisfield, MD
Website
www.tidalhealth.org
Filings
5 on file (2020–2022)
Revenue
$10.2MFY2022
Expenses
$14.2M
Net assets
$3.1M
People
8
Filings
5
Updates
0
More identity details & actions ⌄
EIN  52-0607921 Hospital Crisfield, MD Founded 1923
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 8/14/26 · see original: IRS
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Size
$1–10M
What they do
Provides care and housing for seniors in nursing homes and assisted living facilities.
Leadership
Bruce I Ritchie · Board Member
Money in and out
$10.2M revenue, $14.2M expenses
Bottom line
-39% operating surplus
Financial scale & money flow · FY2022
Total revenue
$10.2M
Pt VIII · Ln 12
Total expenses
$14.2M
Pt IX · Ln 25
Net assets
$3.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$4.0M
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10 Fundraising $0.00
Operating surplus
-39%
revenue over expenses, this legal entity
Payroll share
56%
of this entity's spending is salaries & benefits
Program spending
90%
of expenses reach program services

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$10.2M
FY2022▲ +19%
Expenses
$14.2M
FY2022▲ +9%
Total assets
$12.4M
FY2022▼ -5%
Total liabilities
$9.3M
FY2022▼ -1%
Total revenue
$10.2M
Pt VIII · Ln 12
Total expenses
$14.2M
Pt IX · Ln 25
Net assets
$3.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$4.0M
Total assetsPt X · Ln 16$12.4M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

2 program services account for $12.8M of program spending, described in the organization's own filed words · FY2021.
01

Alice byrd tawes nursing and rehabilitation center alice b tawes nursing and rehabilitation center in crisfield, maryland offers inpatient skilled nursing services for patients who are recovering from illness or injury and aren't ready for home recovery.

$10.9Mprogram expense
02

Chesapeake cove assisted livingchesapeake cove assisted living is located in crisfield, maryland and offers residents full-time non-medical care while enjoying arranged transportation and assistance with their activities of daily living.

$1.9Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMcCready Foundation INC
EINHdr · item D52-0607921
Principal addressHdr · item CCrisfield, MD
WebsiteHdr · item Jwww.tidalhealth.org
Year of formationHdr · item L1923
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHospitals (E22I)
Ruling yearIRS BMFOct 1948

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary to 04/22
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
President to 01/22
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Former Officer to 02/2020
$0Pt VII · Sec A

Vijayjumar Karumbunathan’s $111K as Doctor is at the 29th percentile of top reported officer pay among 3117 $1–10M health care 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 · 7 named individuals · Part VII

NameFY2021FY2020
Vijayjumar Karumbunathan$110,872$378,596
Geraldine Goertzen$105,671$359,888
Michael Atikins$243,724
Kathleen Harrison$42,146$172,401
Sidney Barnes$132,743
Camesha Spence$27,809$126,956
Michael Atkins$53,180

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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Statement of Revenue

Part VIII
Program service revenue$8.5M · 83%
Contributions & grants$1.4M · 14%
Other revenue$336K · 3%
Program service revenue83%$8.5M
Contributions & grants14%$1.4M
Other revenue3%$336K
— government grantsLn 1e$1.4M
Total revenueLn 12$10.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10 Fundraising $0.00
Program services90%$12.8M
Management & general10%$1.4M
Fundraising$41K
Total functional expensesLn 25$14.2M

Balance Sheet

Part X · end of year
CashLn 1$826K
Total assetsLn 16$12.4M
Total liabilitiesLn 26$9.3M
Total net assetsLn 32$3.1M
Months of cash on handcomputed0.7

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $826K · Operating expenses/yr $14.2M
0.7 months
Where the money goes
Program services
Program services $12.8M · Total expenses $14.2M
90%
Management & General
Management & general $1.4M · Total expenses $14.2M
10%
Fundraising
Fundraising $41K · Total expenses $14.2M
0.3%
Cost to raise $1
Fundraising expense (3-yr avg) $14K · Solicited contributions (3-yr avg) $13K
$1.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.4M · Total revenue $10.2M
14%
Government reliance
Government grants $1.4M · Total revenue $10.2M
14%
Earned-income share
Program service revenue $8.5M · Total revenue $10.2M
83%
Investment reliance
Investment income $-32K · Total revenue $10.2M
-0.3%
Program self-sufficiency
Program service revenue $8.5M · Total expenses $14.2M
60%
Growth & trend
Revenue growth (YoY)
This year $10.2M · Prior year $8.6M
+19%
Net-asset trend (YoY)
End of year $3.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $10.2M · Expenses $14.2M
-39%
Liabilities-to-Assets
Total liabilities — · Total assets $12.4M
Net-asset ratio
Net assets $3.1M · Total assets $12.4M
25%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $12.4M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Bruce I Ritchie · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $14.2M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $7.9M · Total expenses $14.2M
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Fundraising cost ratio 3%
Revenue growth 19%
Investment management fee ratio 0.03%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$8.7M revenue · ⤓ 990 PDF
FY2023$8.7M revenue · ⤓ 990 PDF
FY2022$10.2M revenue · viewing · ⤓ 990 PDF
FY2021$8.6M revenue · ⤓ 990 PDF
FY2020$18.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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