CARECUTS INC

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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

2016

Legal Domicile

Principal Officer

JAMES TUTTLE

Phone

8655993866

Tax Period

2024-01-01 to 2024-12-31

CARECUTS INC, founded in 2016, is a small nonprofit in the Human Services sector that reported $707K in total revenue in fiscal year 2024. Revenue surged 198% from the prior year, signaling strong growth momentum. The organization ran a surplus of $314K, a strong 44% operating margin.

Mission

MISSIONS MINISTRY THAT PROVIDES HAIRCUTS TO THE HOMELESS.

Program Service Accomplishments

Program 1

Expenses: $385,351

PROVIDE FREE HAIRCUTS, GROOMING SERVICES,CLOTHES AND MEALS TO THE LESS FORTUNATE. MORE THAN 742 HAIRCUTS HAVE BEEN PROVIDED AND 19,200 MEALS HAVE BEEN SERVED THIS YEAR.

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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 $706,551

Program Service Revenue $0

Investment Income $29

Other Revenue $0

TOTAL REVENUE $706,580

Expense Breakdown

Grants Paid $150,734

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $385,351

Other Expenses $242,253

TOTAL EXPENSES $392,987

Year-over-Year Comparison

	2024	2023	Change
Revenue	$706,580	$237,384	+2.0%
Expenses	$392,987	$214,163	+0.8%
Net Income	$313,593	$23,221	+12.5%

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

2652

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERICA RENFREE	TREASURER	10.00	Officer	$0	$0	$0
KACHELLE STEIGERWALD	SECRETARY	1.00	Officer	$0	$0	$0
JAMES TUTTLE	PRESIDENT	15.00	Officer	$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	$706,580	$392,987	$423,991	$313,593
2023	$237,384	$214,163	$110,398	$23,221