Carolina Village Inc
600 Carolina Village Road, Hendersonville, NC · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $38,061,951 | $35,933,733 | $9,381,715 |
| FY2024 | $34,270,836 | $33,475,589 | $7,163,063 |
| FY2023 | $33,459,516 | $31,362,729 | $4,674,500 |
| FY2022 | $34,185,742 | $29,410,795 | $3,138,103 |
| FY2021 | $33,783,018 | $28,070,443 | -$1,283,349 |
| FY2020 | $26,906,533 | $28,525,142 | -$9,012,992 |
| FY2019 | $24,908,532 | $25,001,473 | -$6,971,363 |
| FY2018 | $23,917,558 | $25,447,991 | -$6,934,997 |
| FY2017 | $24,954,053 | $25,666,777 | -$5,585,923 |
| FY2016 | $22,593,031 | $24,677,401 | -$6,047,401 |
| FY2015 | $23,063,313 | $24,123,665 | -$3,836,105 |
| FY2014 | $21,610,847 | $23,014,351 | -$2,351,300 |
| FY2013 | $21,919,031 | $21,328,591 | -$2,349,105 |
| FY2012 | $21,435,051 | $20,555,610 | -$2,701,787 |
Form 990 filings
The returns filed by Carolina Village Inc (EIN 23-7179679), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $604,929 | 2% |
| Program service revenue | $36,007,657 | 95% |
| Other revenue | $1,449,365 | 4% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $29,114,546 | 81% |
| Management & general | $6,551,705 | 18% |
| Fundraising | $267,482 | 1% |
What the numbers show
- Program service revenue made up 95% of total revenue in FY2025.
- Program services accounted for 81% of functional expenses, management & general 18%, and fundraising 1%.
- 81% of functional expenses went to program services in FY2025. That is higher than 26.3% of 929 Housing & Shelter organizations nationwide (too few in NC for a state comparison).
- Net assets covered about 3.1 months of expenses at the end of the reporting year. That puts it in the 41st percentile among 433 Housing & Shelter organizations in NC.
- Total revenue was higher than 99.5% of 440 Housing & Shelter organizations in NC.
- Total revenue rose from $21,435,051 in FY2012 to $38,061,951 in FY2025. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 7 of 14 reported years (FY2014, FY2015, FY2016, FY2017, FY2018, FY2019, FY2020).
- Net assets grew from -$2,701,787 to $9,381,715 between FY2012 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
TO MAINTAIN AND OPERATE A RETIREMENT HOME, MEDICAL CENTER, AND ASSISTED LIVING CENTER.
IRS status
| Ruling year | 1975 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | L220 — Housing & Shelter |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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