Carenet Inc
- Assets
- $2.2m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 12/1996
- Data as of
- 12/2023
- EIN
- 56-1977341
Organization Overview
Carenet Inc is located in Winston Salem, NC. The organization was established in 1996. According to its NTEE Classification (J21) the organization is classified as: Vocational Counseling, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carenet Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Carenet Inc generated $5.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $6.4m during the year ending 12/2023. While expenses have increased by 3.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH OF THE MIND, BODY, SPIRIT AND COMMUNITY THROUGH SPIRITUALLY-INTEGRATED COUNSELING, PSYCHOTHERAPY, RESEARCH AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARENET IS A STATEWIDE, CLIENT-CENTERED COUNSELING NETWORK COMPRISED OF HIGHLY SKILLED AND COMPASSIONATE MENTAL HEALTH THERAPISTS. THE ORGANIZATION PROVIDED 42,841 SESSIONS OF MENTAL HEALTH COUNSELING THROUGH APPROXIMATELY 9 LOCATIONS ACROSS THE STATE OF NORTH CAROLINA DURING THE TAX YEAR ENDING DECEMBER 31, 2023. CARENET'S STATE-LICENSED THERAPISTS AND RESIDENTS OFFER A WIDE RANGE OF EVIDENCE-BASED COUNSELING SERVICES TO INDIVIDUALS, FAMILIES, AND GROUPS. THE ORGANIZATION'S WORK IS DESIGNED AROUND CARING, NURTURING, HEALING, AND RESTORING INDIVIDUALS, FAMILIES, AND COUPLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley A Clark Treasurer | Officer | 0.1 | $1,431,976 |
J Mclain Wallace Jr Secretary | Officer | 1 | $983,574 |
Bryan Hatcher Drph Trustee, President (to 3/1/23) | OfficerTrustee | 40 | $49,927 |
Doug Urland Trustee | Trustee | 1 | $0 |
Gary R Gunderson Trustee (to 8/1/23) | Trustee | 1 | $0 |
Kevin P High MD Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $37,738 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,287 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $79,025 |
| Total Program Service Revenue | $5,125,805 |
| Investment income | $28,477 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,397 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,235,344 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $46,228 |
| Compensation of current officers, directors, key employees. | $23,114 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,476,622 |
| Pension plan accruals and contributions | $245,053 |
| Other employee benefits | $586,079 |
| Payroll taxes | $366,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,985 |
| Advertising and promotion | $20,799 |
| Office expenses | $16,353 |
| Information technology | $93,172 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,341 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,374,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,735,503 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $421,742 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $81,322 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,238,567 |
| Accounts payable and accrued expenses | $2,805,710 |
| Grants payable | $0 |
| Deferred revenue | $58,220 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,863,930 |
| Net assets without donor restrictions | -$625,363 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,238,567 |