Care Net Foundation FY2023 filing

Tax-deductible

Lansdowne, VA501(c)(3)Since 2012Health CareEIN 46-0951472

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Among its broader religious, educational, and charitable purposes, Care Net Foundation is organized and operated to support Care Net and other public charities whose work furthers Care net's purpose by assisting in procuring Foundation grant awards and major donations and managing and administering planned giving programs to support those ministries.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $352K a year · 63% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
55 mo
of spending, in cash
Looks good: 55.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $31K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$100K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$30
-100% vs prior year
Spent
$515K
To programs
98%
Net assets
$2.9M
By yearFY2020–FY2024
Revenue
$30
FY2023▼ -100%
Revenue by fiscal year
FY2020$90K
FY2021$1.8M
FY2022$916K
FY2023$30
FY2024$23K
FY2024$1.4M
Expenses
$515K
FY2023▲ +178%
Expenses by fiscal year
FY2020$11K
FY2021$4K
FY2022$185K
FY2023$515K
FY2024$311K
FY2024$197K
Net assets
$2.9M
FY2023▼ -13%
Net assets by fiscal year
FY2020$887K
FY2021$2.7M
FY2022$3.3M
FY2023$2.9M
FY2024$2.7M
FY2024$4.1M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $505K Management & general 2% · $10K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Care Net Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports other charities through funding and operational assistance.

Provided by the organization

This section is blank until Care Net Foundation claims this page.

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1 program service account for $505K of program spending, described in the organization's own filed words · FY2022.
01

The organization supports Care Net and other public charities whose work furthers Care Net's purposes by managing and administering planned giving programs to support those ministries.

$505Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$31K
Grants paid · 5 grants · $1.2M · 2019–2024
Care NetVA · FY2024$180,560
Care NetVA · FY2023$297,855
Care NetVA · FY2022$505,000
Care NetVA · FY2021$170,000
Care NetVA · FY2019$5,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$30
Ln 12
Gifts and grantsLn 1h$30
Money outPt IX
$515K
Ln 25
Programscol B$505K
Managementcol C$10K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$3.0M
LiabilitiesLn 26$100K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$30
Total revenueLn 12$30
Assets in detailPt X, end of year
CashLn 1$2.4M
Cash and savings togetherLn 1–2$2.4M
InvestmentsLn 11–13$625K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$3.0M
LiabilitiesLn 26$100K
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$3.0M$2.4M
InvestmentsLn 11–13$543K$625K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$3.5M$3.0M
LiabilitiesLn 26$198K$100K
Net assetsLn 32$3.3M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$505K$505K
Benefits paid to or for membersLn 4$0$0
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$0$0$0$0
Office expensesLn 13$2K$2K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$515K$505K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $23K$311K−$289K$2.7M 990 PDF
FY2023 Viewing $30$515K−$515K$2.9M 990 PDF
FY2022 $916K$185K$731K$3.3M 990 PDF
FY2021 $1.8M$4K$1.8M$2.7M 990 PDF
FY2020 $90K$11K$79K$887K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $30 across 3 lines filed
VIII-1f All other contributions, gifts and grants$30
VIII-1h Total contributions, gifts and grants$30
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$30
Part IX · Statement of functional expenses $514,986 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $505,000$505,000
IX-4 Benefits paid to or for membersPrograms $0$0
IX-11c Accounting feesManagement $7,566$7,566
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesManagement $2,420$2,420
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $505,000 · Management $9,986 · Fundraising $0$514,986
Part X · Balance sheet $3,002,947 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $2,988,952$2,378,177
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $543,220$624,770
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $3,532,172$3,002,947
X-25 Other liabilitiesStart of year $198,240$100,000
X-26 Total liabilitiesStart of year $198,240$100,000
X-27 Net assets without donor restrictionsStart of year $3,333,932$2,902,947
X-32 Total net assets or fund balancesStart of year $3,333,932$2,902,947
X-33 Total liabilities and net assetsStart of year $3,532,172$3,002,947
Part XI · Reconciliation of net assets $2,902,947 net assets at year end
XI-1 Total revenue$30
XI-2 Total expenses$514,986
XI-3 Revenue less expenses−$514,956
XI-4 Net assets at start of year$3,333,932
XI-5 Net unrealized gains (losses) on investments$83,971
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,902,947

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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