CaringWorks Inc (EIN 562370081) - 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

2002

Legal Domicile

Principal Officer

CAROL S COLLARD

Phone

4043711230

Tax Period

2024-01-01 to 2024-12-31

CaringWorks Inc, founded in 2002, is a mid-sized nonprofit in the Human Services sector that reported $10.7M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

CARINGWORKS OFFERS CHRONICALLY HOMELESS CLIENTS ACCESS TO HOUSING AND CASE MANAGEMENT SUPPORT.

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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 $10,114,722

Program Service Revenue $596,646

Investment Income $0

Other Revenue $0

TOTAL REVENUE $10,711,368

Expense Breakdown

Grants Paid $4,422,458

Salaries & Benefits $3,948,198

Fundraising Expenses $129,748

Program Expenses $9,548,639

Other Expenses $2,416,801

TOTAL EXPENSES $10,869,657

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,711,368	$11,325,070	-0.1%
Expenses	$10,869,657	$11,155,763	0.0%
Net Income	$-158,289	$169,307	-1.9%

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

$509,526

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR CAROL COLLARD	CEO	40.0	Officer	$182,153	$15,724	$197,877
NADINE OLDHAM	Clinical Director	40.0	Highest	$108,477	$18,360	$126,837
STEPHANIE BURKES	DIR OF RESIDENTIAL SERVICES	40.0	Highest	$108,233	$8,712	$116,945
MONIQUE WILLIAMS	CFO (Beginning May 2024)	40.0	Officer	$94,031	$8,927	$102,958
ASHLEE STARR	COO (January - July 2024)	40.0	Officer	$87,283	$9,111	$96,394
CHRIS HESTER	CFO (FEBRUARY - AUGUST 2024)	40.0	Officer	$70,997	$6,971	$77,968
NILDA DIAZ	CFO(January - February 2024)	40.0	Officer	$31,032	$3,297	$34,329
COURTNEY SHOWELL	CHAIR	2.0	Officer Director	$0	$0	$0
SUNIL NICHOLAS	VICE CHAIR	2.0	Officer Director	$0	$0	$0
AISHA TUCKER-BROWN PHD	SECRETARY	2.0	Officer Director	$0	$0	$0
RICHARD MACKELFRESH	TREASURER	2.0	Officer Director	$0	$0	$0
JEFFREY ADAMS	DIRECTOR	1.0	Director	$0	$0	$0
LAWRENCE ELDER	DIRECTOR	1.0	Director	$0	$0	$0
RHONDA HIGHT	DIRECTOR	1.0	Director	$0	$0	$0
RAY KUNIANSKY	DIRECTOR	1.0	Director	$0	$0	$0
ADDISON MERIWETHER	DIRECTOR	1.0	Director	$0	$0	$0
LESLIE MARSHBURN	DIRECTOR	1.0	Director	$0	$0	$0
ANWAR REDDICK	DIRECTOR	1.0	Director	$0	$0	$0
BETH WHITE	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL COUGHLIN	DIRECTOR	1.0	Director	$0	$0	$0
TYRONE RACHAL	DIRECTOR, EX-OFFICIO	1.0	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	No data	No data	No data	No data
2024	$10,711,368	$10,869,657	$3,737,710	$-158,289
2023	$11,325,070	$11,155,763	$3,693,713	$169,307
2022	$11,480,133	$12,161,488	$2,606,004	$-681,355
2021	$11,086,266	$10,366,152	$2,568,581	$720,114
2020	$9,614,623	$9,737,396	$2,275,568	$-122,773
2019	$8,388,723	$7,941,176	$2,107,926	$447,547
2018	$6,616,757	$6,384,537	$1,711,090	$232,220

CaringWorks Inc