THE MINISTRY OF CARING INC

EIN: 510209843 501(c)(3)

WILMINGTON, DE

Total Revenue
$9,981,082
Total Expenses
$10,118,522
Total Assets
$55,020,558
Net Assets
$52,218,901
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
DE
Principal Officer
BR R GIANNONE OFM CAP
Phone
3026525523
Tax Period
2023-01-01 to 2023-12-31

THE MINISTRY OF CARING INC, founded in 1977, is a community nonprofit that reported $10.0M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Net assets of $52.2M represent 63 months of operating reserves.

Mission

THE MINISTRY OF CARING, INC. IS DEDICATED TO SERVING THE NEEDS OF THE HOMELESS AND THE POOR.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,969,065
Program Service Revenue $1,191,021
Investment Income $713,574
Other Revenue $107,422
TOTAL REVENUE $9,981,082

Expense Breakdown

Grants Paid $441,053
Salaries & Benefits $5,975,259
Fundraising Expenses $449,603
Program Expenses $7,640,104
Other Expenses $3,666,853
TOTAL EXPENSES $10,118,522

Year-over-Year Comparison

2023 2022 Change
Revenue $9,981,082 $11,837,825 -0.2%
Expenses $10,118,522 $10,175,385 0.0%
Net Income $-137,440 $1,662,440 -1.1%
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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Governance

Voting Members
26
Independent Members
26
Employees
160
Volunteers
310

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
6
$260,736
Total Directors
26
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK MODESTO MEMBER 2.00
Director
$0 $0 $0
GREGORY VARALLO ESQ MEMBER 2.00
Director
$0 $0 $0
CONSTANCE MCCARTHY MEMBER 2.00
Director
$0 $0 $0
THE HON JAMES M BAKER MEMBER 2.00
Director
$0 $0 $0
DAVID HACK MEMBER 2.00
Director
$0 $0 $0
DANIELLE NOWACZYK ESQ VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
MEGAN MCGLINCHEY TREASURER 2.00
Officer Director
$0 $0 $0
DR GARRETT LYONS MEMBER 2.00
Director
$0 $0 $0
BRENDAN KENNEALEY MEMBER 2.00
Director
$0 $0 $0
MARK L REARDON ESQ MEMBER 2.00
Director
$0 $0 $0
RICHARD GESSNER JR MEMBER 2.00
Director
$0 $0 $0
MARILYN MONAHAN MEMBER 2.00
Director
$0 $0 $0
THE HON ROBERT GILLIGAN MEMBER 2.00
Director
$0 $0 $0
BR RUDOLPH PIERETTI OFM CAP MEMBER 2.00
Director
$0 $0 $0
JOHN SWEENEY MEMBER 2.00
Director
$0 $0 $0
WILLIAM LAFOND PRESIDENT 2.00
Officer Director
$0 $0 $0
KIMBERLEE ORTH MEMBER 2.00
Director
$0 $0 $0
BRIAN KING MEMBER 2.00
Director
$0 $0 $0
JOHN SULLIVAN MEMBER 2.00
Director
$0 $0 $0
MARK CALANDRA SECRETARY 2.00
Officer Director
$0 $0 $0
SYNQUETTE WILKS MEMBER 2.00
Director
$0 $0 $0
MATT DAVIS ESQ MEMBER 2.00
Director
$0 $0 $0
RICHARD FORSTEN ESQ MEMBER 2.00
Director
$0 $0 $0
RABBI PETER GRUMBACHER MEMBER 2.00
Director
$0 $0 $0
DENNIS NEALON MEMBER 2.00
Director
$0 $0 $0
DAVID ROSS MEMBER 2.00
Director
$0 $0 $0
BROTHER RONALD GIANNONE EXECUTIVE DIRECTOR 40.00
Officer
$154,811 $12,706 $167,517
KAREN SMITH CFO 40.00
Officer
$88,617 $4,602 $93,219
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
2024 No data No data No data No data
2023 $9,981,082 $10,118,522 $55,020,558 $-137,440
2022 $11,837,825 $10,175,385 $53,466,984 $1,662,440
2021 $18,387,590 $9,413,009 $54,478,470 $8,974,581
2020 $10,374,199 $9,988,563 $47,680,910 $385,636
2019 $11,446,827 $9,855,824 $44,661,002 $1,591,003
2018 $11,654,841 $9,193,644 $40,617,869 $2,461,197
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