AI Transparency Report
Chcc Ccrc, operating as a Continuing Care Retirement Community (NTEE L22), shows a complex financial picture. The organization has experienced significant growth in both assets and expenses over the past several years, particularly from 2020 to 2023. While revenue has also increased, it has consistently lagged behind expenses in recent periods, leading to operating deficits. For instance, in 2023, revenue was $15,385,989 against expenses of $18,552,557, and in 2022, revenue was $11,331,867 against expenses of $15,230,769. This indicates that the organization is spending more than it is bringing in through its primary revenue streams.
The organization's asset base has grown substantially, from $24,602,075 in 2018 to $143,095,016 in 2023, suggesting significant capital investment, likely in facilities given its NTEE code. However, liabilities have also increased dramatically, often exceeding assets in recent years, such as $160,069,571 in liabilities against $143,095,016 in assets in 2023. This high level of debt relative to assets is a concern. The consistent reporting of 0% officer compensation across all available filings suggests either a volunteer-led executive team or that compensation is reported under different categories, which warrants further investigation for full transparency. Without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to fully assess spending efficiency, but the consistent operating deficits are a key indicator.