CARES OF WASHINGTON

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

LARS NOWACK

Phone

2069381253

Tax Period

2024-07-01 to 2025-06-30

CARES OF WASHINGTON, founded in 2003, is a community nonprofit in the Employment sector that reported $2.7M in total revenue in fiscal year 2024.

Mission

SUPPORT PEOPLE WITH DISABILITIES AND LOW INCOMES TO REALIZE THEIR PURPOSE, POTENTIAL AND STRENGTH.

Program Service Accomplishments

Program 1

Expenses: $2,534,388 Revenue: $20,352

PARTNER WITH LOCAL GOVERNMENTS TO PROVIDE VOCATIONAL AND EDUCATIONAL TRAINING FOR PEOPLE WITH DISABILITIES AND OTHER BARRIERS TO EMPLOYMENT. THE FEE FOR SERVICE EMPLOYMENT SERVICES ASSISTS ADULTS WHO HAVE DISABILITIES AND WHO LIVE IN KING, PIERCE, KITSAP, AND SNOHOMISH COUNTIES PREPARE FOR, FIND, AND KEEP EMPLOYMENT IN THEIR COMMUNITY. THE BASIC FOOD, EDUCATION AND TRAINING PROGRAM PARTNERS WITH WASHINGTON STATE DSHS AND LOCAL COMMUNITY COLLEGES TO ASSIST STUDENTS IN DEVELOPING THE RESOURCES AND FINANCIAL LITERACY NEEDED TO COMPLETE CERTIFICATE AND OTHER PROGRAMS THAT WILL ENHANCE THEIR LONG-TERM SELF-SUFFICIENCY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,639,460

Program Service Revenue $20,352

Investment Income $35,536

Other Revenue $0

TOTAL REVENUE $2,695,348

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,105,077

Fundraising Expenses $29,716

Program Expenses $2,534,388

Other Expenses $522,807

TOTAL EXPENSES $2,627,884

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,695,348	$2,637,265	+0.0%
Expenses	$2,627,884	$2,317,455	+0.1%
Net Income	$67,464	$319,810	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$136,902

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARS NOWACK	EXEC DIR./SECRETARY	40.00	Officer	$103,347	$33,555	$136,902
NITANT SINGH	CHAIR	1.00	Officer Director	$0	$0	$0
RATNA CHEMBROLU	TREASURER	1.00	Officer Director	$0	$0	$0
JULIE BREEDEN	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANCISCO BARROS	BOARD MEMBER	1.00	Director	$0	$0	$0
JOE CASTRO	BOARD MEMBER	1.00	Director	$0	$0	$0
AL HARRINGTON	BOARD MEMBER	1.00	Director	$0	$0	$0
DONAVAN LAM	BOARD MEMBER	1.00	Director	$0	$0	$0
SAM LECK	BOARD MEMBER	1.00	Director	$0	$0	$0
STEVE NORMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JESS WATTS	BOARD MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$2,695,348	$2,627,884	$2,128,822	$67,464
2024	$2,637,265	$2,317,455	$2,154,705	$319,810
2023	$2,256,113	$2,193,817	$1,950,319	$62,296
2022	$2,028,121	$2,033,062	$1,756,115	$-4,941
2021	$2,207,021	$1,614,515	$2,011,153	$592,506
2020	$1,698,155	$1,575,814	$1,492,479	$122,341
2019	$1,725,184	$1,854,610	$1,179,946	$-129,426
2018	$1,732,925	$1,880,890	$1,126,264	$-147,965