Carolina Caring Inc

Analysis

Carolina Caring Inc is a registered charity in United States, based in Newton, NC. It received its IRS tax-exemption ruling in April 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Carolina Caring Inc reported income of $42.4m and spending of $35.6m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $22.2m to $42.4m (+91%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Carolina Caring Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Milwaukee Center for Independence Inc ($42.4m), Pathways LA ($42.4m) and Tufts Medicine Care at Home Inc ($42.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $234k (0.7% of expenses). Other salaries and wages came to $18.8m. At year end it held assets of $34.1m against liabilities of $5.8m, net assets of $28.4m. It reported 494 employees.