Carereach Inc

Analysis

Carereach Inc is a registered charity in United States, based in Marion, NC. It received its IRS tax-exemption ruling in August 1999, 27 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Carereach Inc reported income of $1.1m and spending of $1.2m, spending 114% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $633k to $1.1m (+68%), an average of +14% a year. The sharpest change came in the year to June 2024, when income rose by 78%. Over the whole period it spent 129% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Carereach Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Conemaugh Township Ems Inc ($1.1m), Cancer Support Community Greater Ny & CT Inc ($1.1m) and High Desert Child Adolescent Family Service Center ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 69% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $90k (7.4% of expenses). Other salaries and wages came to $611k. At year end it held assets of $1.3m against liabilities of $149k, net assets of $1.1m. It reported 13 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.