Cares Project INC FY2021 filing

Tax-deductible

Winston Salem, NC501(c)(3)Human ServicesEIN 81-2944362

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The Cares Project, INC. Is a non-profit emerging community development financial institution serving people with incomes at or below eighty percent of the area median family income who live in forsyth, davie, and davidson counties. The organization's mission is to help low income individuals and families to become financially secure through car ownership, by making community-funded vehicle loans and by building skills through financial and credit coaching.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$58K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
5 of 6
filings with a surplus
Average surplus $59K a year · 19% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$58K
to officers and key staff · 25% of spending
Worth a look: pay to officers and key staff is 25% of spending; over 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 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
$352K
+36% vs prior year
Spent
$230K
To programs
83%
Net assets
$339K
By yearFY2020–FY2025
Revenue
$352K
FY2021▲ +36%
Revenue by fiscal year
FY2020$259K
FY2021$352K
FY2022$121K
FY2023$425K
FY2024$297K
FY2025$363K
Expenses
$230K
FY2021▲ +13%
Expenses by fiscal year
FY2020$204K
FY2021$230K
FY2022$200K
FY2023$242K
FY2024$253K
FY2025$336K
Net assets
$339K
FY2021▲ +56%
Net assets by fiscal year
FY2020$216K
FY2021$339K
FY2022$259K
FY2023$442K
FY2024$486K
FY2025$513K

From the FY2021 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2016.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $191K Management & general 17% · $39K

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; $58K paid to officers and key staff.

Part VII, Section A · reportable compensation
$57,881Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Scott McLaughlin’s $88K as CEO is at the 78th percentile of top reported officer pay among 2168 $100K–1M human services 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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Scott McLaughlin$88,171$81,640$78,500$60,775$57,881$57,245

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides car loans and financial coaching to help low-income families achieve financial security.

Provided by the organization

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1 program service account for $191K of program spending, described in the organization's own filed words · FY2021.
01

The organization made community-funded vehicle loans to ten low income, credit-challenged working adults, which assisted them and their families in becoming financially secure through car ownership.

$191Kprogram 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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$352K
Ln 12
Gifts and grantsLn 1h$344K
Fees for servicesLn 2g$7K
Other incomeLn 4–11$1K
Money outPt IX
$230K
Ln 25
Programscol B$191K
Managementcol C$39K
Owns and owesPt X
$339K
net assets · Ln 32
Cash and savingsLn 1–2$86K
Total assetsLn 16$342K
LiabilitiesLn 26$4K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$344K
Government grantsLn 1e$232K
Fees for servicesLn 2g$7K
Other incomeLn 4–11$1K
Total revenueLn 12$352K
Assets in detailPt X, end of year
CashLn 1$86K
Cash and savings togetherLn 1–2$86K
Total assetsLn 16$342K
LiabilitiesLn 26$4K
Net assetsLn 32$339K
OperationsPt I, VI
EmployeesI 53
VolunteersI 612
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 FY21End FY21
Cash and savingsLn 1–2$128K$86K
Total assetsLn 16$219K$342K
LiabilitiesLn 26$2K$4K
Net assetsLn 32$216K$339K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$58K$49K$9K
Other salaries and wagesLn 7$67K$57K$10K
Other employee benefitsLn 9$9K$7K$1K
Payroll taxesLn 10$10K$8K$1K
Accounting feesLn 11c$5K$404$5K
Other fees for servicesLn 11g$5K$5K$123
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$2K$2K$139
TravelLn 17$769$686$83
InsuranceLn 23$29K$22K$7K
Other expenses (24a–d)Ln 24$33K$29K$4K
All other expensesLn 24e$1K$671$363
Total functional expensesLn 25$230K$191K$39K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $363K$336K$27K$513K 990 PDF
FY2024 $297K$253K$44K$486K 990 PDF
FY2023 $425K$242K$183K$442K 990 PDF
FY2022 $121K$200K−$79K$259K 990 PDF
FY2021 Viewing $352K$230K$122K$339K 990 PDF
FY2020 $259K$204K$55K$216K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $352,040 across 6 lines filed
Lines not itemized here account for $1,045 of total revenue; see the IRS return.
VIII-1a Federated campaigns$103,119
VIII-1e Government grants$232,054
VIII-1f All other contributions, gifts and grants$8,634
VIII-1h Total contributions, gifts and grants$343,807
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,188$7,188
VIII-12 Total revenueRelated to mission $8,233 · Unrelated business $0 · Excluded from tax $0$352,040
Part IX · Statement of functional expenses $229,875 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $49,199 · Management $8,682$57,881
IX-7 Other salaries and wagesPrograms $57,128 · Management $10,081$67,209
IX-9 Other employee benefitsPrograms $7,392 · Management $1,304$8,696
IX-10 Payroll taxesPrograms $8,208 · Management $1,448$9,656
IX-11c Accounting feesPrograms $404 · Management $5,042$5,446
IX-11g Other fees for servicesPrograms $5,038 · Management $123$5,161
IX-12 Advertising and promotionPrograms $9,335$9,335
IX-13 Office expensesPrograms $2,048 · Management $139$2,187
IX-17 TravelPrograms $686 · Management $83$769
IX-23 InsurancePrograms $22,079 · Management $7,185$29,264
IX-24 Other expenses (24a–d)Programs $28,988 · Management $4,249$33,237
IX-24e All other expensesPrograms $671 · Management $363$1,034
IX-25 Total functional expensesPrograms $191,176 · Management $38,699 · Fundraising $0$229,875
Part X · Balance sheet $342,424 assets, 10 lines filed
Asset lines not itemized here account for $116,069; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $127,895$86,165
X-3 Pledges and grants receivableStart of year $1,836$140,000
X-4 Accounts receivableStart of year $277$190
X-16 Total assetsStart of year $218,878$342,424
X-17 Accounts payable and accrued expensesStart of year $2,382$3,763
X-26 Total liabilitiesStart of year $2,382$3,763
X-27 Net assets without donor restrictionsStart of year $211,496$193,661
X-28 Net assets with donor restrictionsStart of year $5,000$145,000
X-32 Total net assets or fund balancesStart of year $216,496$338,661
X-33 Total liabilities and net assetsStart of year $218,878$342,424
Part XI · Reconciliation of net assets $338,661 net assets at year end
XI-1 Total revenue$352,040
XI-2 Total expenses$229,875
XI-3 Revenue less expenses$122,165
XI-4 Net assets at start of year$216,496
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$338,661

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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