Carenet INC FY2023 filing

Tax-deductible

Winston Salem, NC501(c)(3)EmploymentEIN 56-1977341Revenue $5.2M in FY2023

On file with the IRScarenetnc.org2000 W 1st St Ste 410, 27104-4225 · Winston Salem, NCTax-exempt since Dec 1996Supporting organization — 509(a)(3)

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To improve the health of the mind, body, spirit and community through spiritually-integrated counseling, psychotherapy, research and education.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$2.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
0 of 5
filings with a surplus
Average deficit $522K a year · 10% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.5M
to officers and key staff · 39% of spending
Concern: pay to officers and key staff is 39% of spending; over 30%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $7K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.9M
128% of total assets
Concern: liabilities are 128% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.2M
-7% vs prior year
Spent
$6.4M
To programs
90%
Net assets
−$625K
By yearFY2020–FY2024
Revenue
$5.2M
FY2023▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.9M
FY2021$5.0M
FY2021$2.6M
FY2022$5.6M
FY2023$5.2M
FY2024$5.7M
Expenses
$6.4M
FY2023▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.9M
FY2021$5.3M
FY2021$2.9M
FY2022$5.7M
FY2023$6.4M
FY2024$6.7M
Net assets
−$625K
FY2023▼ -222%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$931K
FY2021$635K
FY2022$515K
FY2023−$625K
FY2024−$1.6M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1996.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $5.7M Management & general 10% · $669K

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

10 people listed on the 990; $2.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
$1,431,976Pt VII · Sec A
$983,574Pt VII · Sec A
Trustee, President (to 3/1/23)
$49,927Pt VII · Sec A
$0Pt VII · Sec A
Trustee (to 8/1/23)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Bradley a Clark’s $2.5M as Treasurer is at the 100th percentile of top reported officer pay among 1245 $1–10M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2021FY2020
Bradley a Clark$2,513,703$1,431,976$1,335,054———
Terry G Williams$2,204,442—————
J McLain Wallace JR$1,659,102$983,574$984,139———
Alisa Starbuck Dnp$870,609—————
Jennifer Houlihan$424,348—————
Bryan Hatcher————$139,507$171,277
Christopher Gambill$165,231—————
Bryan Hatcher Drph—$49,927$151,478$145,904——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers counseling, therapy, research, and education to improve mind, body, spirit, and community health.

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Provided by the organization

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1 program · $5.7M · in their own filed words · FY2023
01

Carenet is a statewide, client-centered counseling network comprised of highly skilled and compassionate mental health therapists. The organization provided 42,841 sessions of mental health counseling through approximately 9 locations across the state of north carolina during the tax year ending december 31, 2023.

$5.7Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 2 funders$7K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.2M
Ln 12
Fees for servicesLn 2g$5.1M
Gifts and grantsLn 1h$79K
Investment incomeLn 3$30K
Money outPt IX
$6.4M
Ln 25
Programscol B$5.7M
Managementcol C$669K
Owns and owesPt X
−$625K
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.9M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$79K
Fees for servicesLn 2g$5.1M
Investment incomeLn 3$30K
Other incomeLn 4–11$640
Gains on assetsLn 7$1K
Total revenueLn 12$5.2M
Assets in detailPt X, end of year
SavingsLn 2$1.7M
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$81K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.9M
Net assetsLn 32−$625K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderDecember
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$1.3M$1.7M
InvestmentsLn 11–13$83K$81K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.9M$2.2M
LiabilitiesLn 26$1.4M$2.9M
Net assetsLn 32$515K−$625K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$46K$23K$23K
Other salaries and wagesLn 7$4.5M$4.0M$477K
Pension plan contributionsLn 8$245K$216K$29K
Other employee benefitsLn 9$586K$516K$70K
Payroll taxesLn 10$366K$323K$44K
Other fees for servicesLn 11g$52K$49K$3K
Advertising and promotionLn 12$21K$19K$1K
Office expensesLn 13$16K$13K$3K
Information technologyLn 14$93K$75K$18K
TravelLn 17$25K$25K
Other expenses (24a–d)Ln 24$446K$446K$285
Total functional expensesLn 25$6.4M$5.7M$669K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5.7M$6.7M−$1.0M−$1.6M 990 PDF
FY2023 Viewing $5.2M$6.4M−$1.1M−$625K 990 PDF
FY2022 $5.6M$5.7M−$108K$515K 990 PDF
FY2021 $5.0M$5.3M−$341K$931K 990 PDF
FY2020 $4.9M$4.9M−$14K$1.3M 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 (6 parts)
Part I · Summary $5,235,344 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $268,615$79,025
I-9 Program service revenuePrior year $5,342,767$5,125,805
I-10 Investment incomePrior year $6,939$29,874
I-11 Other revenuePrior year $0$640
I-12 Total revenuePrior year $5,618,321$5,235,344
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,092,527$5,720,455
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $633,452$653,737
I-18 Total expensesPrior year $5,725,979$6,374,192
I-19 Revenue less expensesPrior year −$107,658−$1,138,848
Part VI · Governance 8 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $5,235,344 across 8 lines filed
VIII-1d Related organizations$37,738
VIII-1f All other contributions, gifts and grants$41,287
VIII-1h Total contributions, gifts and grants$79,025
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,125,805$5,125,805
VIII-3 Investment incomeExcluded from tax $28,477$28,477
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,397$1,397
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $640$640
VIII-12 Total revenueRelated to mission $5,126,445 · Unrelated business $0 · Excluded from tax $29,874$5,235,344
Part IX · Statement of functional expenses $6,374,192 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $23,114 · Management $23,114$46,228
IX-7 Other salaries and wagesPrograms $3,999,779 · Management $476,843$4,476,622
IX-8 Pension plan contributionsPrograms $215,838 · Management $29,215$245,053
IX-9 Other employee benefitsPrograms $516,208 · Management $69,871$586,079
IX-10 Payroll taxesPrograms $322,783 · Management $43,690$366,473
IX-11g Other fees for servicesPrograms $48,578 · Management $3,407$51,985
IX-12 Advertising and promotionPrograms $19,436 · Management $1,363$20,799
IX-13 Office expensesPrograms $13,157 · Management $3,196$16,353
IX-14 Information technologyPrograms $74,970 · Management $18,202$93,172
IX-17 TravelPrograms $25,341$25,341
IX-24 Other expenses (24a–d)Programs $445,802 · Management $285$446,087
IX-25 Total functional expensesPrograms $5,705,006 · Management $669,186 · Fundraising $0$6,374,192
Part X · Balance sheet $2,238,567 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,251,549$1,735,503
X-4 Accounts receivableStart of year $539,042$421,742
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $82,984$81,322
X-16 Total assetsStart of year $1,873,575$2,238,567
X-17 Accounts payable and accrued expensesStart of year $1,253,677$2,805,710
X-19 Deferred revenueStart of year $105,346$58,220
X-26 Total liabilitiesStart of year $1,359,023$2,863,930
X-27 Net assets without donor restrictionsStart of year $514,552−$625,363
X-32 Total net assets or fund balancesStart of year $514,552−$625,363
X-33 Total liabilities and net assetsStart of year $1,873,575$2,238,567
Part XI · Reconciliation of net assets −$625,363 net assets at year end
XI-1 Total revenue$5,235,344
XI-2 Total expenses$6,374,192
XI-3 Revenue less expenses−$1,138,848
XI-4 Net assets at start of year$514,552
XI-5 Net unrealized gains (losses) on investments−$1,067
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$625,363

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

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