Nonprofit · EIN 56-1630158
FOREST AT DUKE INC
Tax-exempt · DURHAM, NC 27705
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $34,469,066 | $35,633,057 | -$1,163,991 | $243,873,442 | $231,577,856 | $12,295,586 |
| September 30, 2024 | 990 | $31,345,461 | $33,482,737 | -$2,137,276 | $183,251,223 | $173,080,715 | $10,170,508 |
| September 30, 2023 | 990 | $24,329,545 | $29,273,687 | -$4,944,142 | $146,426,388 | $134,418,996 | $12,007,392 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $67,714
- Program service revenue
- $31,881,269
- Investment income
- $2,385,089
- Net rental income
- $6,379
- Net gain from sales of assets
- $587,709
- Net income from sales of inventory
- $3,000
- Tax-exempt bond proceeds
- $16,104
- Other revenue
- $134,994
Expenses
- Grants and similar amounts paid
- $1,388,752
- Compensation of officers, directors and key employees
- $592,251
- Other salaries and wages
- $12,230,436
- Salaries, compensation and benefits (total)
- $15,976,437
- Professional fundraising fees
- $10,790
- Legal fees
- $4,913
- Accounting fees
- $229,502
- Occupancy
- $2,035,369
- Travel
- $208,903
- Depreciation
- $6,941,253
- Program services (functional)
- $30,361,568
- Management and general (functional)
- $5,260,699
- Fundraising (functional)
- $10,790
Balance sheet and other
- Total assets, start of year
- $183,251,223
- Total assets, end of year
- $243,873,442
- Total liabilities, end of year
- $231,577,856
- Net assets, end of year
- $12,295,586
- Land, buildings and equipment
- $162,362,839
- Publicly traded securities
- $36,737,188
- Net assets without donor restrictions
- $11,879,187
- Net assets with donor restrictions
- $416,399
- Gross receipts
- $39,832,301
- Employees
- 428
- Volunteers
- 20
- Year formed
- 1988
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Anita L Holt | President, CEO Officer | 40 | $336,743 | $35,346 |
| Karen E Henry | CFO, Treasurer Officer | 40 | $236,993 | $33,105 |
| Sharon Pitt | COO Highest-paid employee | 40 | $198,710 | $32,974 |
| Lee Ann Bailey-Clayton | Director of Health Services Highest-paid employee | 40 | $145,872 | $11,023 |
| Nathan Summers | Director of Community Services Highest-paid employee | 40 | $140,270 | $3,092 |
| April Ravelli | Director of Sales & Mktg Highest-paid employee | 40 | $113,297 | $7,660 |
| Rashad Wilson | Director of Information Tech Highest-paid employee | 40 | $111,379 | $1,604 |
| Chuck Kennedy | Chairman Trustee or director, Officer | 4 | $0 | $0 |
| Craig Lewis | Vice Chairman Trustee or director, Officer | 4 | $0 | $0 |
| Bobby Kanoy | Board Member Trustee or director | 4 | $0 | $0 |
| Craig Daniels | Board Member Trustee or director | 4 | $0 | $0 |
| Denise Barnes | Board Member Trustee or director | 4 | $0 | $0 |
| Edward Embree | Board Member Trustee or director | 4 | $0 | $0 |
| James Freedman | Board Member Trustee or director | 4 | $0 | $0 |
| James Hopkins | Board Member Trustee or director | 4 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| John Rasmussen | Board Member Trustee or director | 4 | $0 |
| Kimberly Rehberg | Board Member Trustee or director | 4 | $0 |
| Larry Moneta | Board Member Trustee or director | 4 | $0 |
| Lynne Farber | Board Member Trustee or director | 4 | $0 |
| Sterly Wilder | Board Member Trustee or director | 4 | $0 |
| Tracy Dell'Angela | Board Member Trustee or director | 4 | $0 |
990 for the year ended September 30, 2024: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Anita L Holt | President, CEO Officer | 40 | $315,308 | $34,846 |
| Karen E Henry | CFO, Treasurer Officer | 40 | $210,164 | $32,548 |
| Sharon Pitt | COO Highest-paid employee | 40 | $187,627 | $26,318 |
| Lee Ann Bailey-Clayton | Director of Health Services Highest-paid employee | 40 | $137,222 | $10,725 |
| Nathan Summers | Director of Community Services Highest-paid employee | 40 | $132,128 | $3,025 |
| Chuck Kennedy | Chairman Trustee or director, Officer | 4 | $0 | $0 |
| Craig Lewis | Vice Chairman Trustee or director, Officer | 4 | $0 | $0 |
| Craig Daniels | Board Member Trustee or director | 4 | $0 | $0 |
| Denise Barnes | Board Member Trustee or director | 4 | $0 | $0 |
| Edward Embree | Board Member Trustee or director | 4 | $0 | $0 |
| George Brothers Jr | Board Member Trustee or director | 4 | $0 | $0 |
| Harvey Cohen | Past Chairman Trustee or director | 4 | $0 | $0 |
| James Freedman | Board Member Trustee or director | 4 | $0 | $0 |
| Julie Wells | Board Member Trustee or director | 4 | $0 | $0 |
| Kimberly Rehberg | Board Member Trustee or director | 4 | $0 | $0 |
| Larry Moneta | Board Member Trustee or director | 4 | $0 | $0 |
| Lynne Farber | Board Member Trustee or director | 4 | $0 | $0 |
990 for the year ended September 30, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANITA L HOLT | PRESIDENT, CEO Officer | 40 | $311,725 | $31,938 |
| KAREN E HENRY | CFO, TREASURER Officer | 40 | $220,582 | $29,549 |
| SHARON PITT | COO Highest-paid employee | 40 | $191,763 | $25,733 |
| LEE ANN BAILEY-CLAYTON | DIRECTOR OF HEALTH SERVICES Highest-paid employee | 40 | $137,610 | $10,508 |
| APRIL RAVELLI | DIRECTOR OF SALES & MARKETING Highest-paid employee | 40 | $130,843 | $7,312 |
| NATHAN SUMMERS | DIRECTOR OF COMMUNITY SERVICES Highest-paid employee | 40 | $112,627 | $2,742 |
| THERESA THOMAS | DIRECTOR OF HUMAN RESOURCES Highest-paid employee | 40 | $108,400 | $6,841 |
| HARVEY COHEN | CHAIRMAN Trustee or director, Officer | 4 | $0 | $0 |
| CHUCK KENNEDY | VICE CHAIRMAN Trustee or director, Officer | 4 | $0 | $0 |
| DENISE BARNES | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| GEORGE BROTHERS JR | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| CAROL CARSON | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| CRAIG DANIELS | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| EDWARD EMBREE | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| LYNNE FARBER | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| CRAIG LEWIS | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| KIMBERLY REHBERG | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
| JULIE WELLS | BOARD MEMBER Trustee or director | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2701 PICKETT RD, DURHAM, NC 27705-5610
- Principal officer (990 for 2024)
- Anita L Holt, 2701 PICKETT ROAD, Durham, NC 27705
- Signed the 990
- Anita L Holt, CEO
- Phone
- (919) 940-8000
- Website
- WWW.FORESTDUKE.ORG
- Return prepared by
- Forvis Mazars LLP
Mission
TO PROVIDE A CARING, RESPONSIBLE COMMUNITY THAT FOSTERS THE INDEPENDENCE OF RESIDENTS OF RETIREMENT AGE BY ENHANCING THEIR CAPABILITY TO LEAD PURPOSEFUL, ACTIVE, HEALTHY AND SECURE LIVES.
Program accomplishments
- The Forest at Duke welcomed its first residents in 1992 with a mission to provide a caring, responsible community that fosters the independence of residents of retirement age by enhancing their ability to lead purposeful, active, healthy and secure lives. The 47-acre campus is home to approximately 500 residents and includes 304 independent living residences, 32 assisted living suites and 58 skilled nursing residences. In 2007, The Forest was awarded a BBB+ credit rating by Fitch Ratings, achieved national Commission on Accreditation of Rehabilitation Facilities/Continuing Care Accreditation Commission (CARF-CCAC) accreditation, and received another health center deficiency free survey from the NC Department of Health Regulators. In 2007, The Forest also chose to participate in the Medicare Part A program and gained certification under Medicare. In December 2022, The Forest at Duke was reviewed by CARF-CCAC and earned another five-year term as an accredited continuing retirement community. The Forest has completed the construction of 15 cottage homes and all were occupied by the end of fiscal year 2015. The renovation to the Community Center, including enlarging the Fitness Center, enhancing dining and other interior program modifications, was completed by the end of fiscal year 2016. In June 2021, The Forest completed the financing to build a new health center on its current campus. The facility will have 90 new units in the "small house" format in a five-story, approximately 110,000 square foot building. The small house model of care is designed around houses (or groups of rooms) in which each house has 10 private rooms each with a bathroom and all common spaces and support areas located within the house. The small house model will provide the same scope of services, each neighborhood will have a team that provides the care, residents will have short walking distances to increase level of independence, resident privacy, additional dining and fitness venues. The project is complete and the residents moved into the new health center in February 2023. In November 2022, The Forest completed the financing for Phase Two of the project. The project includes the addition of seventy-one (71) new independent living apartments and an expanded community center which connects the existing community center to the health center. The expanded community center also includes service and amenity spaces such as additional dining, fitness area, classroom, multipurpose rooms, a clinic and office spaces. The new apartments have an average of 1,450 square feet with spacious open-living design floorplans, ten foot ceilings, and finishes commensurate with high-end real estate in the market area. Other features include gourmet kitchens with stainless steel appliances, large covered balconies or ground level patios for outdoor living in each apartment home. Each apartment home is expected to include assigned underground parking. The project was substantially complete in July 2025 and new residents began to take occupancy of their new homes in September 2025. The Forest at Duke takes seriously its commitment to social responsibility and leadership. Outreach includes major annual corporate financial assistance to the Durham Council for Senior Citizens, the Durham Center for Senior Life, the Senior PHARMAssist Program, and Rogers-Herr Middle School. Throughout the year, other local non-profits are helped with cash, in-kind and volunteer donations as well. More than 75,000 resident volunteer hours per year benefit local schools, churches, Duke Hospitals and other area service organizations. The Forest continues to have strong associations with educational and licensing institutions. The community serves as a training site for: * Geriatric Fellows - Duke University Medical Center * Internal Medicine Residents - Duke University Medical Center * Nursing students - Watts School of Nursing * Interns in the Leadership in Aging Program - Duke University * Therapeutic recreation interns from surrounding universities * Nursing Home Administrators - The North Carolina Board of Licensing of Nursing Home Administrators The Forest actively participates with its peers in the industry through Association involvement. Forest employees often serve in leadership and as presenters at state and national educational sessions. The Forest maintains memberships in the following professional associations: * LeadingAge * Leading Age North Carolina * North Carolina Health Care Association * American Health Care Association * Durham Chamber of Commerce * North Carolina Coalition for Long Term Care Enhancement * Society for the Advancement of Gerontological EnvironmentsExpenses $30,361,568 · grants $1,388,752 · revenue $31,881,269
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 56-1630158
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1989
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P750)
- Assets (IRS master file)
- $243,873,442
- Income (IRS master file)
- $39,832,301
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $34,469,066 | $35,633,057 | $243,873,442 | XML |
| 990 | September 2024 | $31,345,461 | $33,482,737 | $183,251,223 | XML |
| 990 | September 2023 | $24,329,545 | $29,273,687 | $146,426,388 | XML |
| 990 | September 2022 | $28,567,112 | $26,703,754 | $132,994,833 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1630158).
Questions about FOREST AT DUKE INC
- What is the EIN of FOREST AT DUKE INC?
- The employer identification number (EIN) of FOREST AT DUKE INC is 56-1630158.
- Is FOREST AT DUKE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to FOREST AT DUKE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOREST AT DUKE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOREST AT DUKE INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOREST AT DUKE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of FOREST AT DUKE INC?
- The 990 for the year ended September 30, 2025 names Anita L Holt.
- Who are the officers and directors of FOREST AT DUKE INC?
- The 990 for the year ended September 30, 2025 lists 21 people; 7 received compensation from the organization, the highest $336,743 (Anita L Holt, President, CEO).
- How much revenue does FOREST AT DUKE INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $34,469,066, expenses of $35,633,057 and total assets of $243,873,442 at year end.
Other nonprofits in DURHAM
- L C IND INC EIN 56-0686307 · last filed 990 for 2025
- LATINO COMMUNITY DEVELOPMENT CENTER EIN 82-0551614 · last filed 990 for 2024
- L C INDUSTRIES FOUNDATION EIN 45-5200306 · last filed 990 for 2025
- COMMUNITIES IN SCHOOLS OF NORTH CAROLINA INC EIN 56-1677831 · last filed 990 for 2025
- KRAMDEN INSTITUTE INC EIN 74-3108814 · last filed 990 for 2025
- FIRST ENVIRONMENTS PARENTS ORGANIZATION EIN 58-1696674 · last filed 990 for 2024
- FIRST IN FAMILIES OF NORTH CAROLINA EIN 46-0471896 · last filed 990 for 2025
- CAROLINA FEDERATION FUND EIN 84-2537864 · last filed 990 for 2025