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Care Net Foundation FY2024 filing

Tax-deductible

Lansdowne, VA501(c)(3)Since 2012Health CareEIN 46-0951472Revenue $23K in FY2024

On file with the IRS44180 Riverside Pkwy Ste 200, 20176-1709 · Lansdowne, VATax-exempt since Oct 2013Supporting org, Type I — 509(a)(3)

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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.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
77 mo
of spending, in cash
Looks good: 77.1 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
$11K
0.4% of total assets
Looks good: liabilities are 0% 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
$23K
×755 vs prior year
Spent
$311K
To programs
96%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$23K
FY2024▲ ×755
Tap a bar for its year
Revenue by fiscal year
FY2020$90K
FY2021$1.8M
FY2022$916K
FY2023$30
FY2024$23K
FY2024$1.4M
Expenses
$311K
FY2024▼ -40%
Tap a bar for its year
Expenses by fiscal year
FY2020$11K
FY2021$4K
FY2022$185K
FY2023$515K
FY2024$311K
FY2024$197K
Net assets
$2.7M
FY2024▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020$887K
FY2021$2.7M
FY2022$3.3M
FY2023$2.9M
FY2024$2.7M
FY2024$4.1M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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

96 cents of each dollar spent went to programs.

Program services 96% · $298K Management & general 4% · $14K

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 (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Wendy J Lowe
Secretary
$0Pt VII · Sec A
Doug Knox
Director
$0Pt VII · Sec A
Thomas Mason
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.

Questions for Care Net Foundation

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Provided by the organization

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1 program · $298K · in their own filed words · FY2023
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.

$298Kprogram expense

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
Fidelity Investments Charitable Gift FundFY2024$31K
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 FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$23K
Ln 12
Gifts and grantsLn 1h$16K
Other incomeLn 4–11$4K
Investment incomeLn 3$3K
Money outPt IX
$311K
Ln 25
Programscol B$298K
Managementcol C$14K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$2.7M
LiabilitiesLn 26$11K
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$16K
Investment incomeLn 3$3K
Other incomeLn 4–11$4K
Total revenueLn 12$23K
Assets in detailPt X, end of year
CashLn 1$2.0M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$745K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$2.7M
LiabilitiesLn 26$11K
Net assetsLn 32$2.7M
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 FY24End FY24
Cash and savingsLn 1–2$2.4M$2.0M
InvestmentsLn 11–13$625K$745K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$3.0M$2.7M
LiabilitiesLn 26$100K$11K
Net assetsLn 32$2.9M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$298K$298K
Benefits paid to or for membersLn 4$0$0
Accounting feesLn 11c$11K$11K
Other fees for servicesLn 11g$0$0$0$0
Office expensesLn 13$3K$3K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$311K$298K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $23K$311K−$289K$2.7M 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $22,644 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $30$16,335
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$2,609
I-11 Other revenuePrior year $0$3,700
I-12 Total revenuePrior year $30$22,644
I-13 Grants and similar amounts paidPrior year $505,000$297,855
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,986$13,557
I-18 Total expensesPrior year $514,986$311,412
I-19 Revenue less expensesPrior year −$514,956−$288,768
Part VI · Governance 4 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $22,644 across 4 lines filed
Lines not itemized here account for $3,700 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$16,335
VIII-1h Total contributions, gifts and grants$16,335
VIII-3 Investment incomeExcluded from tax $2,609$2,609
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $6,309$22,644
Part IX · Statement of functional expenses $311,412 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $297,855$297,855
IX-4 Benefits paid to or for membersPrograms $0$0
IX-11c Accounting feesManagement $10,947$10,947
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesManagement $2,610$2,610
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $297,855 · Management $13,557 · Fundraising $0$311,412
Part X · Balance sheet $2,745,775 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $2,378,177$2,000,357
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $624,770$745,418
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $3,002,947$2,745,775
X-25 Other liabilitiesStart of year $100,000$10,948
X-26 Total liabilitiesStart of year $100,000$10,948
X-27 Net assets without donor restrictionsStart of year $2,902,947$2,734,827
X-32 Total net assets or fund balancesStart of year $2,902,947$2,734,827
X-33 Total liabilities and net assetsStart of year $3,002,947$2,745,775
Part XI · Reconciliation of net assets $2,734,827 net assets at year end
XI-1 Total revenue$22,644
XI-2 Total expenses$311,412
XI-3 Revenue less expenses−$288,768
XI-4 Net assets at start of year$2,902,947
XI-5 Net unrealized gains (losses) on investments$120,648
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,734,827

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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