Cara Charitable Foundation Inc
Cara Charitable Foundation Inc. faces significant and persistent operating deficits, depleting its assets over the past decade.
EIN: 203996824 · Wilmington, DE · NTEE: T22 · Updated: 2026-03-28
Is Cara Charitable Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cara Charitable Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cara Charitable Foundation Inc
Cara Charitable Foundation Inc (EIN: 203996824) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22. The organization reported total revenue of $445K and total assets of $153K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cara Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cara Charitable Foundation Inc is a small nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $44K |
| Total Expenses | $333K |
| Surplus / Deficit | $-289,554 |
| Total Assets | $485K |
| Total Liabilities | $1 |
| Net Assets | $485K |
| Operating Margin | -659.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 17.5 months |
Financial Health Grade: B
In 2023, Cara Charitable Foundation Inc reported a deficit of $290K with expenses exceeding revenue, holds 17.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Cara Charitable Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -70.6% | -9.5% | -37.4% |
| 2022 | -65.9% | -16.5% | -22.0% |
| 2021 | +96.5% | -9.6% | -0.3% |
| 2020 | +73.6% | +165.1% | -21.0% |
| 2019 | -10.1% | +31.4% | -16.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cara Charitable Foundation Inc with a Mission Score of 40 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Cara Charitable Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $290K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly unusual for an entity with its level of expenses and assets, and suggests either volunteer leadership or compensation is being reported in other categories.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Cara Charitable Foundation Inc's IRS 990 filings:
- Persistent and significant operating deficits (e.g., $289,554 deficit in 2023).
- Substantial decline in total assets over time (from $1.75M in 2011 to $0.48M in 2023).
- Revenue consistently lower than expenses in most reported periods.
- 0% officer compensation reported despite significant expenses, which warrants further investigation.
Strengths
The following positive indicators were identified for Cara Charitable Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating no direct salary costs for leadership.
- Long filing history (10 filings), suggesting a commitment to IRS compliance.
Frequently Asked Questions about Cara Charitable Foundation Inc
Is Cara Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Cara Charitable Foundation Inc (EIN: 203996824) significant concerns. Mission Score: 40/100. 4 red flags identified, 2 strengths noted.
How does Cara Charitable Foundation Inc spend its money?
Cara Charitable Foundation Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cara Charitable Foundation Inc tax-deductible?
Cara Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203996824). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Cara Charitable Foundation Inc. financially sustainable?
Based on the consistent and significant operating deficits (e.g., $43,913 revenue vs. $333,467 expenses in 2023) and the substantial decline in assets from $1.75 million in 2011 to $0.48 million in 2023, the organization's current financial model appears unsustainable in the long term.
Why are assets declining so rapidly?
Assets are declining because the organization consistently spends more than it earns. For example, in 2023, expenses exceeded revenue by nearly $290,000, and similar patterns are observed in most prior years, forcing the foundation to draw down its existing asset base.
What is the primary source of the organization's expenses?
Without a detailed breakdown of expenses beyond the total, it's impossible to definitively state the primary source. However, given its NTEE code as a private grantmaking foundation, a significant portion would typically be grants paid out, but this cannot be confirmed from the provided data.
Is the 0% officer compensation accurate or misleading?
While the filings consistently report 0% officer compensation, it is highly unusual for an organization with annual expenses often exceeding $300,000 to have no compensated leadership. This could indicate volunteer leadership, or that compensation is being reported under other expense categories, or that the foundation is managed by an external entity.
Filing History
IRS 990 filing history for Cara Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Cara Charitable Foundation Inc's revenue has declined by 34.4%, moving from $67K to $44K. Total assets decreased by 72.3% over the same period, from $1.7M to $485K. Total functional expenses rose by 130.7%, from $145K to $333K. In its most recent filing year (2023), Cara Charitable Foundation Inc reported a deficit of $290K, with expenses exceeding revenue. The organization holds $1 in liabilities against $485K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $485K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $44K | $333K | $485K | $1 | — | View 990 |
| 2022 | $149K | $369K | $775K | $1 | — | View 990 |
| 2021 | $438K | $441K | $994K | $1 | — | View 990 |
| 2020 | $223K | $488K | $998K | $1 | — | — |
| 2019 | $128K | $184K | $1.3M | $1 | — | View 990 |
| 2015 | $143K | $140K | $1.5M | $1 | — | View 990 |
| 2014 | $87K | $190K | $1.5M | $1 | — | View 990 |
| 2013 | $66K | $94K | $1.6M | $1 | — | View 990 |
| 2012 | $6K | $113K | $1.6M | $1 | — | View 990 |
| 2011 | $67K | $145K | $1.7M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $44K, expenses of $333K, and assets of $485K (revenue -70.6% year-over-year).
- 2022: Revenue of $149K, expenses of $369K, and assets of $775K (revenue -65.9% year-over-year).
- 2021: Revenue of $438K, expenses of $441K, and assets of $994K (revenue +96.5% year-over-year).
- 2020: Revenue of $223K, expenses of $488K, and assets of $998K (revenue +73.6% year-over-year).
- 2019: Revenue of $128K, expenses of $184K, and assets of $1.3M (revenue -10.1% year-over-year).
- 2015: Revenue of $143K, expenses of $140K, and assets of $1.5M (revenue +63.6% year-over-year).
- 2014: Revenue of $87K, expenses of $190K, and assets of $1.5M (revenue +33.0% year-over-year).
- 2013: Revenue of $66K, expenses of $94K, and assets of $1.6M (revenue +993.5% year-over-year).
- 2012: Revenue of $6K, expenses of $113K, and assets of $1.6M (revenue -91.0% year-over-year).
- 2011: Revenue of $67K, expenses of $145K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cara Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for Cara Charitable Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.