Carolina Caring Foundation Inc
- Assets
- $14.1m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Newton, NC
- Founding
- 04/2005
- Data as of
- 12/2021
- EIN
- 75-3140786
Organization Overview
Carolina Caring Foundation Inc is located in Newton, NC. The organization was established in 2005. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Caring Foundation 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 12/2021, Carolina Caring Foundation Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.7% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 19.0% per year over the past 5 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BENEFIT CAROLINA CARING, INC.
Describe the Organization's Program Activity:
TO BENEFIT CAROLINA CARING, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Pearce Chairperson | OfficerTrustee | 0.5 | $0 |
David Cook Presient/ceo | OfficerTrustee | 0.5 | $0 |
Susannah Brown Vice-Chair | OfficerTrustee | 0.5 | $0 |
Michael Mckinley Treasurer | OfficerTrustee | 0.5 | $0 |
Joyce Corbett Director | Trustee | 0.5 | $0 |
Jamie Dugo Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $362,815 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,044,403 |
| Noncash contributions included in lines 1a–1f | $110,553 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,407,218 |
| Total Program Service Revenue | $0 |
| Investment income | $195,502 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $210,950 |
| Net Gain/Loss on Asset Sales | $502,499 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,316,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $431,190 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,704 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,592 |
| Information technology | $15,064 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,241 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,621 |
| Insurance | $0 |
| All other expenses | $23,129 |
| Total functional expenses | $1,195,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,718,607 |
| Savings and temporary cash investments | $32,970 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,387 |
| 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 | $4,897 |
| Net Land, buildings, and equipment | $2,723,889 |
| Investments—publicly traded securities | $9,642,351 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,129,101 |
| Accounts payable and accrued expenses | $18,272 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,093,812 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $98,085 |
| Total liabilities | $1,210,169 |
| Net assets without donor restrictions | $12,629,953 |
| Net assets with donor restrictions | $288,979 |
| 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 | $14,129,101 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Carolina Caring Foundation Inc has recieved totaling $121,000.
| Awarding Organization | Amount |
|---|---|
Jem Project Tiburon, CA PURPOSE: PUBLIC BENEFIT | $111,000 |
Yount Foundation Inc Hickory, NC PURPOSE: COMMUNITY SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $390,935 |
| Net Contributions | $250,000 |
| Other Expense | $351,956 |
| Ending Balance | $288,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westminister-Canterbury Management Corporation Richmond, VA | $220,702,749 | $15,246,749 |
United Methodist Manor Of The Pee Dee Florence, SC | $35,528,661 | $13,881,726 |
Hospice Of Chattanooga Foundation Chattanooga, TN | $0 | $886,666 |
Community Real Property Holdings Inc Charlotte, NC | $53,988,196 | $19,881,979 |
Communities In Schools Of North Carolina Inc Raleigh, NC | $8,297,246 | $8,586,637 |
Lutheran Homes Of South Carolina Foundation Inc Irmo, SC | $47,033,372 | $5,922,264 |
The Arc Davidson County & Greater Nashville Nashville, TN | $1,667,294 | $2,925,688 |
Thrift Alliance Nashville, TN | $769,764 | $2,756,268 |
Virginia Baptist Homes Foundation Inc Glen Allen, VA | $12,836,580 | $2,666,939 |
Center For Developmental Services D-B-A Cds Greenville, SC | $1,715,779 | $2,187,540 |
Goodwin House Foundation Alexandria, VA | $20,888,847 | $5,521,365 |
Georgia Youth Homes Foundation Madison, GA | $25,002,046 | $1,469,118 |