Caritas Incorporated DBA Nearcare

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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

1983

Legal Domicile

Principal Officer

Rick Bergeron

Phone

5187986648

Tax Period

2022-01-01 to 2022-12-31

Caritas Incorporated DBA Nearcare, founded in 1983, is a micro nonprofit in the Human Services sector that reported $70K in total revenue in fiscal year 2022. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $98K exceeded revenue, resulting in a 40% operating deficit.

Mission

Provide respite services to the seriously and terminally ill and their families.

Program Service Accomplishments

Program 1

Expenses: $81,890

The Organization provides respite and support services for the seriously and terminally ill and their families through the coordination of trained volunteers and community professionals. During 2022, the Organization continued to serve approximately 30 to 40 individuals and their families each month.

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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 (2022)

Revenue Breakdown

Contributions & Grants $50,589

Program Service Revenue $0

Investment Income $18,178

Other Revenue $1,036

TOTAL REVENUE $69,803

Expense Breakdown

Grants Paid $0

Salaries & Benefits $69,690

Fundraising Expenses $0

Program Expenses $81,890

Other Expenses $28,330

TOTAL EXPENSES $98,020

Year-over-Year Comparison

	2022	2021	Change
Revenue	$69,803	$99,351	-0.3%
Expenses	$98,020	$98,495	0.0%
Net Income	$-28,217	$856	-34.0%

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

Total Directors

$42,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHLEEN HANCHETT	Executive Dir.	40.00	Director	$42,000	$0	$42,000
Joanna Willis	Secretary	1.00	Director	$0	$0	$0
Karen A Carpenter	Treasurer	1.00	Director	$0	$0	$0
Jim Benedetto	Board Member	1.00	Director	$0	$0	$0
Phillip James Keddy	Board Member	1.00	Director	$0	$0	$0
Rick Bergeron	President	1.00	Director	$0	$0	$0
Matt Caimano	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
2022	$69,803	$98,020	$164,886	$-28,217
2019	$94,140	$109,070	$237,304	$-14,930