THE CARYING PLACE INC

EIN: 582425452 501(c)(3) Housing & Shelter

CARY, NC

Total Revenue
$1,617,245
Total Expenses
$779,926
Total Assets
$4,951,376
Net Assets
$4,372,176
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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NC
Principal Officer
LESLIE COVINGTON
Phone
9194621800
Tax Period
2024-01-01 to 2024-12-31

THE CARYING PLACE INC, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 65% from the prior year, signaling strong growth momentum. The organization ran a surplus of $837K, a strong 52% operating margin.

Mission

THE CARYING PLACE TEACHES HOMELESS WORKING FAMILIES WITH CHILDREN LIFE SKILLS FOR ATTAINING INDEPENDENT LIVING WHILE PROVIDING SHORT-TERM HOUSING AND SUPPORT SERVICES TO ADDRESS THEIR INDIVIDUAL NEEDS.

Program Service Accomplishments

Program 1
Expenses: $553,864 Revenue: $4,834

THE CARYING PLACE'S (TCP) 16-WEEK LIFE SKILLS AND SHORT-TERM TRANSITIONAL HOUSING PROGRAM HELPS HOMELESS, WORKING FAMILIES MAKE THE TRANSITION TO ADEQUATE PERMANENT HOUSING AND SELF-SUFFICIENCY. WE...

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THE CARYING PLACE'S (TCP) 16-WEEK LIFE SKILLS AND SHORT-TERM TRANSITIONAL HOUSING PROGRAM HELPS HOMELESS, WORKING FAMILIES MAKE THE TRANSITION TO ADEQUATE PERMANENT HOUSING AND SELF-SUFFICIENCY. WE SERVE ABOUT 36 FAMILIES A YEAR IN OUR HOUSING WITH AN AVERAGE OF 2-3 CHILDREN PER FAMILY. THEY LIVE RENT AND UTILITY-FREE WHILE IN A TCP-OWNED PROPERTY. TCP IS THE ONLY LIFE SKILLS TRAINING AND SHORT TERM TRANSITIONAL HOUSING PROGRAM IN CARY AND WESTERN WAKE COUNTY. OUR PROGRAM GOAL IS TO PREPARE FAMILIES FOR POST-PROGRAM HOUSING AND TO IMPROVE THEIR ABILITY TO PAY ALL OF THEIR NECESSARY LIVING EXPENSES. FAMILIES ARE ALSO ENCOURAGED TO MAINTAIN SAVINGS FOR EMERGENCIES (MEDICAL CARE, CAR REPAIRS, ETC.). JUST AS IMPORTANT, FAMILIES DEVELOP THE PLANS AND SELF-CONFIDENCE NEEDED TO SUSTAIN THEIR HOUSING AND NEW LIFE SKILLS LONG-TERM. OUR PROGRAM STAFF MATCHES TRAINED ADULT SUPPORT TEAM AND CARING SPONSOR VOLUNTEERS WITH PROGRAM PARTICIPANTS TO TEACH AND CELEBRATE PROGRESS IN FINANCIAL MANAGEMENT, PLANNING SKILLS, AND INDEPENDENT HOUSING ATTAINMENT. THESE VOLUNTEERS MEET WITH THEIR FAMILY WEEKLY AND FOCUS ON BUDGETING, GOAL SETTING, RESOURCE LINKING, AND TIME MANAGEMENT. PARTICIPANTS REPORT WEEKLY SPENDING, ACCOMPLISHMENTS, AND CHALLENGES AND THEN CREATE NEW GOALS AND A PLANNED BUDGET TO HELP GUIDE THEM IN SUBSEQUENT WEEKS. WE EMPLOY ABOUT 300 VOLUNTEERS INCLUDING THE ONES MENTIONED ABOVE, PROPERTY VOLUNTEERS, OFFICE VOLUNTEERS, EVENT VOLUNTEERS, BOARD VOLUNTEERS AND VARIOUS VOLUNTEER GROUPS. TCP ALSO PROVIDES A WEEKLY CHILDREN'S PROGRAM WITH STAFF AND VOLUNTEERS THAT OFFER LIFE ENRICHMENT ACTIVITIES TO THE CHILDREN IN OUR FAMILIES. CHILDREN'S PROGRAM OFFERS RESOURCES SUCH AS ACCESS TO CHILDCARE, EDUCATIONAL IMPROVEMENT, EXTRACURRICULAR/FUN SKILL BUILDING ACTIVITIES. WE ALSO PROVIDE ONGOING LIFE SKILLS INFORMATION AND MORAL SUPPORT TO ABOUT 45 DIFFERENT GRADUATE FAMILIES ANNUALLY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,524,054
Program Service Revenue $4,834
Investment Income $50,756
Other Revenue $37,601
TOTAL REVENUE $1,617,245

Expense Breakdown

Grants Paid $0
Salaries & Benefits $534,528
Fundraising Expenses $132,428
Program Expenses $553,864
Other Expenses $245,398
TOTAL EXPENSES $779,926

Year-over-Year Comparison

2024 2023 Change
Revenue $1,617,245 $979,903 +0.7%
Expenses $779,926 $732,025 +0.1%
Net Income $837,319 $247,878 +2.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
15
Independent Members
15
Employees
9
Volunteers
300

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
$101,998
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK FRISCHAUF PAST PRESIDENT 2.00
Officer Director
$0 $0 $0
LAUREN CHAPELL VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
AMY DIEBLER TREASURER 2.00
Officer Director
$0 $0 $0
JOHN COLLINS SECRETARY TO 6/30/2024 2.00
Officer Director
$0 $0 $0
STEPHANE DANIEL SECRETARY FROM 06/30/2024 2.00
Officer Director
$0 $0 $0
KAI HILL DIRECTOR 1.00
Director
$0 $0 $0
KYLE GREER PRESIDENT 1.00
Director
$0 $0 $0
ALPESH KARSALIA DIRECTOR 1.00
Director
$0 $0 $0
JASON BARRON DIRECTOR 1.00
Director
$0 $0 $0
CLARK RADFORD DIRECTOR 1.00
Director
$0 $0 $0
BRIAN GORHAM DIRECTOR 1.00
Director
$0 $0 $0
TOM HUGHES DIRECTOR 1.00
Director
$0 $0 $0
HANNAH WAIT DIRECTOR 1.00
Director
$0 $0 $0
SIDNEY CHOW DIRECTOR 1.00
Director
$0 $0 $0
LESLIE MOORE-MARTINEZ DIRECTOR 1.00
Director
$0 $0 $0
WA SHAWNTA JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
LESLIE COVINGTON EXECUTIVE DIRECTOR 50.00
Officer
$101,998 $0 $101,998
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 $1,617,245 $779,926 $4,951,376 $837,319
2023 $979,903 $732,025 $3,600,770 $247,878
2022 $1,592,750 $809,787 $3,984,783 $782,963
2021 $949,912 $537,684 $2,838,798 $412,228
2020 $572,183 $348,450 $2,255,295 $223,733
2019 $617,468 $328,428 $1,923,864 $289,040
2018 $591,682 $332,748 $1,557,263 $258,934
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