philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Caroline Foundation INC FY2023 filing

Tax-deductible

Denton, MD501(c)(3)EIN 52-0906348

This page gets seen. Tell your story. Claim this org.

To award grants to nonprofit organizations that benefit the local community.

501(c)(3) charity; gifts are tax-deductible.
88¢ 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $12K a year · 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 15.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$677K
-364% vs prior year
Spent
$859K
To programs
88%
Net assets
$15.7M
By yearFY2020–FY2025
Revenue
−$677K
FY2023▼ -364%
Revenue by fiscal year
FY2020$981K
FY2021$2.9M
FY2022$257K
FY2023−$677K
FY2024$663K
FY2025$1.4M
Expenses
$859K
FY2023▼ -7%
Expenses by fiscal year
FY2020$921K
FY2021$753K
FY2022$926K
FY2023$859K
FY2024$945K
FY2025$1.0M
Net assets
$15.7M
FY2023▲ +4%
Net assets by fiscal year
FY2020$15.3M
FY2021$18.2M
FY2022$15.1M
FY2023$15.7M
FY2024$17.2M
FY2025$18.6M

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

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1976.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $754K Management & general 12% · $105K

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

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Terry Mead
President
$0Pt VII · Sec A
Robert E Jarrell ESQ.
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Berl Lovelace
Secretary
$0Pt VII · Sec A
Wayne a Cole
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rick Harris
Director
$0Pt VII · Sec A
See Caroline Foundation INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

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

Awards grants to local community-benefiting nonprofits.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $754K · in their own filed words · FY2022
01

Grants to nonprofit organizations to benefit the local community.

$754Kprogram 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
Mid Shore Community Foundation INCFY2024$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 111 grants · $4.4M · 2019–2024
Saint Martins Ministries INCMD · FY2024$120,000
His Hope Ministries INCMD · FY2024$115,000
Compass Regional Hospice INCMD · FY2024$100,000
Aarons Place INCMD · FY2024$70,000
Young Mens Christian Association of the Chesapeake INCMD · FY2024$60,000
Choptank Community Health System INCMD · FY2024$60,000
Caroline County Public SchoolsFY2024$60,000
For All Seasons INCMD · FY2024$50,000
Community Civic League of Federalsburg INCMD · FY2024$45,150
Friends of the Grape INCMD · FY2024$35,000
Channel Marker INCMD · FY2024$30,000
Critical Repairs Caroline County Maryland INCMD · FY2024$24,110
DC CenterMD · FY2024$23,240
Casa of Caroline INCMD · FY2024$20,000
Partners in Care Maryland INCMD · FY2024$20,000
The Salvation ArmyNY · FY2024$10,000
Mid-Shore Restoring Hope in WomenMD · FY2024$10,000
Union Bethel AME ChurchFY2024$7,500
See all 111 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$677K
Ln 12
Investment incomeLn 3$478K
Gifts and grantsLn 1h$1K
Money outPt IX
$859K
Ln 25
Programscol B$754K
Managementcol C$105K
Owns and owesPt X
$15.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$15.7M
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Investment incomeLn 3$478K
Gains on assetsLn 7−$1.2M
Total revenueLn 12−$677K
Assets in detailPt X, end of year
CashLn 1$68K
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$14.6M
Total assetsLn 16$15.7M
LiabilitiesLn 26$0
Net assetsLn 32$15.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
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$800K$1.1M
InvestmentsLn 11–13$14.3M$14.6M
Total assetsLn 16$15.1M$15.7M
LiabilitiesLn 26$0$0
Net assetsLn 32$15.1M$15.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$700K$700K
Legal feesLn 11b$10$10
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$76K$76K
Other fees for servicesLn 11g$72K$54K$18K
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$495$495
Total functional expensesLn 25$859K$754K$105K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.0M$387K$18.6M 990 PDF
FY2024 $663K$945K−$281K$17.2M 990 PDF
FY2023 Viewing −$677K$859K−$1.5M$15.7M 990 PDF
FY2022 $257K$926K−$669K$15.1M 990 PDF
FY2021 $2.9M$753K$2.1M$18.2M 990 PDF
FY2020 $981K$921K$60K$15.3M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 −$677,130 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,050
VIII-1h Total contributions, gifts and grants$1,050
VIII-3 Investment incomeExcluded from tax $478,240$478,240
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,156,420−$1,156,420
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$678,180−$677,130
Part IX · Statement of functional expenses $858,537 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $700,000$700,000
IX-11b Legal feesManagement $10$10
IX-11c Accounting feesManagement $4,794$4,794
IX-11f Investment management feesManagement $75,526$75,526
IX-11g Other fees for servicesPrograms $53,903 · Management $17,967$71,870
IX-19 Conferences, conventions and meetingsManagement $1,648$1,648
IX-23 InsuranceManagement $4,194$4,194
IX-24 Other expenses (24a–d)Management $495$495
IX-25 Total functional expensesPrograms $753,903 · Management $104,634 · Fundraising $0$858,537
Part X · Balance sheet $15,701,192 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $249,729$67,769
X-2 Savings and temporary cash investmentsStart of year $550,156$1,031,105
X-11 Publicly traded securitiesStart of year $14,292,514$14,602,318
X-16 Total assetsStart of year $15,092,399$15,701,192
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $15,092,399$15,701,192
X-32 Total net assets or fund balancesStart of year $15,092,399$15,701,192
X-33 Total liabilities and net assetsStart of year $15,092,399$15,701,192
Part XI · Reconciliation of net assets $15,701,192 net assets at year end
XI-1 Total revenue−$677,130
XI-2 Total expenses$858,537
XI-3 Revenue less expenses−$1,535,667
XI-4 Net assets at start of year$15,092,399
XI-5 Net unrealized gains (losses) on investments$2,144,460
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,701,192

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.