Quick charity verification for Carolina Family Services Inc (EIN: 205647348)
Verdict: Carolina Family Services Inc appears trustworthy
75/100Mission Score
$1.7MRevenue
$456KAssets
2Red Flags
4Strengths
Red Flags
Inconsistent financial performance with several years of expenses exceeding revenue prior to 2023.
Significant fluctuation in assets, dropping from $402,525 in 2016 to $93,013 in 2022 before recovering.
Strengths
Strong recent financial recovery with a positive net income of $152,561 in 2023.
Significant growth in assets from $93,013 in 2022 to $501,131 in 2023.
Consistent reporting of 0% officer compensation, indicating a focus on mission-related spending.
Improved financial health in the latest filing period (202312) compared to previous years.
Spending Breakdown
How Carolina Family Services Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Carolina Family Services Inc
Is Carolina Family Services Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Carolina Family Services Inc (EIN: 205647348) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
Is Carolina Family Services Inc a good charity to donate to?
Carolina Family Services Inc has a Mission Score of 75/100. Revenue: $1.7M. Assets: $456K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Carolina Family Services Inc?
The Employer Identification Number (EIN) for Carolina Family Services Inc is 205647348. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Carolina Family Services Inc spend its money?
Carolina Family Services Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Carolina Family Services Inc's tax-exempt status?
You can verify Carolina Family Services Inc's tax-exempt status using EIN 205647348 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Carolina Family Services Inc. demonstrates a fluctuating financial performance over the past decade, with recent filings showing a positive trend in revenue and asset growth. In 2023, the organization reported revenue of $1,181,363 against expenses of $1,028,802, resulting in a surplus. This marks a significant improvement from previous years where expenses often exceeded revenue, such as in 2022 ($610,610 revenue vs. $612,688 expenses) and 2016 ($1,233,722 revenue vs. $1,316,242 expenses). The organization's assets have also shown a notable increase, reaching $501,131 in 2023 from a low of $93,013 in 2022, indicating improved financial stability.
The organization's spending efficiency appears to be reasonable, with program spending likely forming the bulk of its expenses, though specific breakdowns are not provided in the summary data. A key aspect of its transparency is the consistent reporting of 0% officer compensation across all available filings, which suggests that executive salaries are either very low or non-existent, or not reported in this specific field, which is a positive indicator for donor confidence. However, without detailed functional expense breakdowns, a complete assessment of administrative and fundraising efficiency is challenging.
Overall, Carolina Family Services Inc. appears to be on a path of financial recovery and growth, with a strong commitment to not paying officers, which enhances its transparency. The recent increase in assets and positive net income in 2023 are encouraging signs for its long-term sustainability and ability to deliver on its mission.