CARENET INC (EIN 561977341) - Form 990 Financial Analysis & Trantor Score

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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

1996

Legal Domicile

Principal Officer

DR BRIAN DAVIS

Phone

3367164445

Tax Period

2023-01-01 to 2023-12-31

CARENET INC, founded in 1996, is a community nonprofit in the Employment sector that reported $5.2M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $6.4M exceeded revenue, resulting in a 22% operating deficit.

Mission

TO IMPROVE THE HEALTH OF THE MIND, BODY, SPIRIT AND COMMUNITY THROUGH SPIRITUALLY-INTEGRATED COUNSELING, PSYCHOTHERAPY, RESEARCH AND EDUCATION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $79,025

Program Service Revenue $5,125,805

Investment Income $29,874

Other Revenue $640

TOTAL REVENUE $5,235,344

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,720,455

Fundraising Expenses $0

Program Expenses $5,705,006

Other Expenses $653,737

TOTAL EXPENSES $6,374,192

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,235,344	$5,618,321	-0.1%
Expenses	$6,374,192	$5,725,979	+0.1%
Net Income	$-1,138,848	$-107,658	+9.6%

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

N/A

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

$2,657,187

Total Directors

$59,908

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRADLEY A CLARK	TREASURER	0.10	Officer	$1,431,976	$145,795	$1,577,771
J MCLAIN WALLACE JR	SECRETARY	1.00	Officer	$983,574	$35,934	$1,019,508
BRYAN HATCHER DRPH	TRUSTEE, PRESIDENT (TO 3/1/23)	40.00	Officer Director	$49,927	$9,981	$59,908
DOUG URLAND	TRUSTEE	1.00	Director	$0	$0	$0
GARY R GUNDERSON	TRUSTEE (TO 8/1/23)	1.00	Director	$0	$0	$0
KEVIN P HIGH MD	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL LISCHKE	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD W LORD MD	TRUSTEE	1.00	Director	$0	$0	$0
TERRY G WILLIAMS	CHAIR	0.10	Officer Director	$0	$0	$0
WILLIAM SATTERWHITE	TRUSTEE	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
2024	No data	No data	No data	No data
2023	$5,235,344	$6,374,192	$2,238,567	$-1,138,848
2022	$5,618,321	$5,725,979	$1,873,575	$-107,658
2021	$2,648,506	$2,941,188	$2,113,794	$-292,682
2021	$4,978,704	$5,319,927	$2,689,071	$-341,223
2020	$4,931,390	$4,945,366	$2,758,755	$-13,976
2019	$3,844,096	$3,660,117	$2,501,021	$183,979
2018	$4,080,947	$4,066,433	$3,048,252	$14,514

CARENET INC