Carey Family Foundation INC EIN 27-0999929

Carey Family Foundation INC

EIN  27-0999929 Public charity (501(c)(3)) Hialeah, FL
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Improves youth education and economic opportunities through community programs.
Leadership
Felix Williams · Executive Director
Money in and out
$163K revenue, $184K expenses
Bottom line
51% program efficiency

Improves youth education and economic opportunities through community programs. For fiscal year 2024 it reported $163K in revenue, $184K in expenses, and $207K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$163K
Pt VIII · Ln 12
Total expenses
$184K
Pt IX · Ln 25
Net assets
$207K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$21K
Where spending went · Part IX cols B–D
Program services $0.51 Management & general $0.49
Program efficiency
51%
of spending reaches programs▼ -13% vs prior filing year
Operating runway
13.5mo
months of highly liquid reserves at operating expense rate▼ -23% vs prior filing year
Surplus margin
-13%
revenue over expenses, this year▼ -195% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$163K
FY2024▼ -11%
Expenses
$184K
FY2024▲ +17%
Total assets
$207K
FY2024▼ -9%
Total liabilities
$0
FY2024
Total revenue
$163K
Pt VIII · Ln 12
Total expenses
$184K
Pt IX · Ln 25
Net assets
$207K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$21K
Total assetsPt X · Ln 16$207K
Program-expense ratioPt IX · col B51%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

3 program services account for $62K of program spending, described in the organization's own filed words · FY2024.
01

The Carey Family Foundation hosts an annual Father and Daughter Dance during Fathers Day weekend to provide fathers and daughters in the South Florida community with a memorable experience. The event includes participation from local families, Girl Scouts, and other nonprofit organizations, and features performances by youth groups.

$28Kprogram expense
02

The vernon carey back to school event & scholarship program

$25Kprogram expense
03

Christmas toy drive the vernon carey foundation gives out toys to underprivledged kids during the christmas season.

$10Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCarey Family Foundation INC
EINHdr · item D27-0999929
Principal addressHdr · item CHialeah, FL
WebsiteHdr · item Jwww.vernoncareyfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O50)
Ruling yearIRS BMFJan 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$163K
Total revenueLn 12$163K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.51 Management & general $0.49
Program services51%$95K
Management & general49%$89K
Total functional expensesLn 25$184K

Balance Sheet

Part X · end of year
CashLn 1$207K
Total assetsLn 16$207K
Total liabilitiesLn 26$0
Total net assetsLn 32$207K
Months of cash on handcomputed13.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $207K · Operating expenses/yr $184K
13.5 months
Where the money goes
Program services
Program services $95K · Total expenses $184K
51%
Management & General
Management & general $89K · Total expenses $184K
49%
Fundraising
Fundraising $0 · Total expenses $184K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $171K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $163K · Total revenue $163K
100%
Government reliance
Government grants — · Total revenue $163K
Earned-income share
Program service revenue $0 · Total revenue $163K
0%
Investment reliance
Investment income $0 · Total revenue $163K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $184K
0%
Growth & trend
Revenue growth (YoY)
This year $163K · Prior year $182K
-11%
Revenue CAGR
FY2020 $117K · FY2024 $163K
+9%
Net-asset trend (YoY)
End of year $207K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $163K · Expenses $184K
-13%
Liabilities-to-Assets
Total liabilities — · Total assets $207K
Net-asset ratio
Net assets $207K · Total assets $207K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $207K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Felix Williams · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $0 · Total expenses $184K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $184K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 51%
Overhead ratio 49%
Fundraising cost ratio 0%
Revenue growth -11%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$10K
Grants paid · 2 grants · $14K · 2020–2020
Unitemized GrantFY2020$9,075
Unitemized GrantFY2020$5,250

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$163K revenue · viewing · ⤓ 990 PDF
FY2023$182K revenue · ⤓ 990 PDF
FY2022$170K revenue · ⤓ 990 PDF
FY2021$135K revenue · ⤓ 990 PDF
FY2020$117K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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