Care Free Medical Inc
Care Free Medical Inc operates with minimal executive compensation and stable, lean financial margins.
EIN: 141909938 · Lansing, MI · NTEE: E32 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $2.2M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $320K |
| Transparency Score | 85/100 |
Is Care Free Medical Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Care Free Medical Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Care Free Medical Inc
Care Free Medical Inc (EIN: 141909938) is a nonprofit organization based in Lansing, MI, classified under NTEE code E32. The organization reported total revenue of $2.2M and total assets of $701K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Care Free Medical Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Care Free Medical Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $2.2M |
| Surplus / Deficit | +$4K |
| Total Assets | $601K |
| Total Liabilities | $281K |
| Net Assets | $320K |
| Operating Margin | 0.2% |
| Debt-to-Asset Ratio | 46.7% |
| Months of Reserves | 3.3 months |
Financial Health Grade: A
In 2023, Care Free Medical Inc reported a surplus of $4K with revenue exceeding expenses, holds 3.3 months of operating reserves (adequate), has a debt-to-asset ratio of 46.7% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Care Free Medical Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.9% | +3.9% | +18.2% |
| 2022 | +28.1% | +18.7% | -30.3% |
| 2021 | -0.4% | +1.6% | +29.4% |
| 2020 | +34.9% | +1.2% | +15.9% |
| 2019 | -22.6% | +17.9% | -48.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Care Free Medical Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Care Free Medical Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $4K, with revenue exceeding expenses.
- Debt-to-asset ratio: 46.7%.
Executive Compensation Analysis
Care Free Medical Inc reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers or that they are compensated through other means not reported as officer compensation, which is highly unusual for an organization with over $2 million in annual revenue.
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 Care Free Medical Inc's IRS 990 filings:
- Lack of detailed expense breakdown beyond total expenses
- Unusually consistent 0% officer compensation for an organization of this size, which may obscure how leadership is compensated or sustained.
Strengths
The following positive indicators were identified for Care Free Medical Inc:
- Consistent filing of IRS Form 990s over 13 periods, indicating transparency and compliance.
- Reported 0% officer compensation, suggesting a strong commitment to directing funds towards the mission rather than executive salaries.
- Stable revenue generation, consistently exceeding $1.2 million annually over the past decade.
- Positive net assets maintained across all reported periods, indicating financial solvency.
Frequently Asked Questions about Care Free Medical Inc
Is Care Free Medical Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Care Free Medical Inc (EIN: 141909938) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Care Free Medical Inc spend its money?
Care Free Medical Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Care Free Medical Inc tax-deductible?
Care Free Medical Inc is registered as a tax-exempt nonprofit (EIN: 141909938). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Care Free Medical Inc CEO make?
Care Free Medical Inc's highest-compensated officer earns $2 annually. The organization reported $2.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Care Free Medical Inc's spending goes to programs?
Care Free Medical Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Care Free Medical Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Care Free Medical Inc is above average for NTEE category E32 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Care Free Medical Inc located?
Care Free Medical Inc is headquartered in Lansing, Michigan and files with the IRS under EIN 141909938. It is classified under NTEE code E32.
How many years of IRS 990 filings does Care Free Medical Inc have?
Care Free Medical Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.2M in total revenue.
How does Care Free Medical Inc sustain operations with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests either a fully volunteer executive leadership, or that executive compensation is structured in a way not categorized as 'officer compensation' on the 990, or that key leadership roles are compensated through other entities. This is a significant operational model that warrants further inquiry into its sustainability and leadership structure.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a granular breakdown of expenses beyond total expenses. To fully assess spending efficiency, a detailed look at how the $2,179,229 in expenses (2023) is allocated among programs, administration, and fundraising is necessary.
What is the long-term strategy for managing fluctuating assets and liabilities?
Assets have ranged from $482,997 (2015) to $950,375 (2018), and liabilities from $124,731 (2022) to $447,017 (2021). Understanding the factors driving these fluctuations and the organization's strategy for maintaining financial stability would be beneficial.
Filing History
IRS 990 filing history for Care Free Medical Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Care Free Medical Inc's revenue has grown by 78%, moving from $1.2M to $2.2M. Total assets decreased by 6.2% over the same period, from $641K to $601K. Total functional expenses rose by 76.9%, from $1.2M to $2.2M. In its most recent filing year (2023), Care Free Medical Inc reported a surplus of $4K, with revenue exceeding expenses. The organization holds $281K in liabilities against $601K in assets (debt-to-asset ratio: 46.7%), resulting in net assets of $320K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $2.2M | $601K | $281K | — | View 990 |
| 2022 | $2.2M | $2.1M | $509K | $125K | — | View 990 |
| 2021 | $1.7M | $1.8M | $730K | $447K | — | View 990 |
| 2020 | $1.7M | $1.7M | $564K | $235K | — | View 990 |
| 2019 | $1.3M | $1.7M | $487K | $148K | — | View 990 |
| 2018 | $1.7M | $1.5M | $950K | $176K | — | View 990 |
| 2017 | $1.7M | $1.5M | $752K | $154K | — | View 990 |
| 2016 | $1.6M | $1.5M | $559K | $162K | — | View 990 |
| 2015 | $1.3M | $1.4M | $483K | $216K | — | View 990 |
| 2014 | $1.5M | $1.5M | $574K | $214K | — | View 990 |
| 2013 | $1.7M | $1.8M | $556K | $195K | — | View 990 |
| 2012 | $1.4M | $1.4M | $638K | $205K | — | View 990 |
| 2011 | $1.2M | $1.2M | $641K | $220K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $2.2M, and assets of $601K (revenue -0.9% year-over-year).
- 2022: Revenue of $2.2M, expenses of $2.1M, and assets of $509K (revenue +28.1% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.8M, and assets of $730K (revenue -0.4% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.7M, and assets of $564K (revenue +34.9% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.7M, and assets of $487K (revenue -22.6% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.5M, and assets of $950K (revenue -3.6% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.5M, and assets of $752K (revenue +9.0% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.5M, and assets of $559K (revenue +17.5% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.4M, and assets of $483K (revenue -9.9% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.5M, and assets of $574K (revenue -13.4% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.8M, and assets of $556K (revenue +18.8% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.4M, and assets of $638K (revenue +17.9% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.2M, and assets of $641K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Care Free Medical Inc:
Data Sources and Methodology
This transparency report for Care Free Medical 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.