Care Ring Inc

Analysis

Care Ring Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 1957, 69 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Care Ring Inc reported income of $9.1m and spending of $6.7m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.4m to $9.1m (+106%), an average of +20% a year. The sharpest change came in the year to June 2024, when income rose by 67%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Care Ring Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Center for Applied Rationality ($9.1m), Rosary Care Center ($9.1m) and Maui Health Foundation ($9.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $224k (3.3% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $8.1m against liabilities of $3.7m, net assets of $4.5m. It reported 101 employees.