Carereach Inc
EIN: 562097503 · Marion, NC · NTEE: E60
Is Carereach Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Carereach Inc
Carereach Inc (EIN: 562097503) is a nonprofit organization based in Marion, NC, classified under NTEE code E60. The organization reported total revenue of $1.4M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carereach Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Carereach Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Carereach Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Frequently Asked Questions about Carereach Inc
Is Carereach Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Carereach Inc (EIN: 562097503) insufficient data. 0 red flags identified, 0 strengths noted.
How does Carereach Inc spend its money?
Detailed spending breakdown data is not yet available for Carereach Inc. Check back for updated IRS 990 analysis.
Are donations to Carereach Inc tax-deductible?
Carereach Inc is registered as a tax-exempt nonprofit (EIN: 562097503). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Carereach Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Carereach Inc's revenue has declined by 82.7%, moving from $6.1M to $1.1M. Total assets decreased by 33.8% over the same period, from $2.0M to $1.3M. Total functional expenses fell by 80.3%, from $6.1M to $1.2M. In its most recent filing year (2024), Carereach Inc reported a deficit of $147K, with expenses exceeding revenue. The organization holds $149K in liabilities against $1.3M in assets (debt-to-asset ratio: 11.5%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $1.1M | $1.2M | $1.3M | $149K | — | — |
| 2023 | $596K | $1.3M | $1.4M | $141K | — | — |
| 2022 | $918K | $1.1M | $2.2M | $252K | — | View 990 |
| 2021 | $1.1M | $982K | $2.3M | $174K | — | — |
| 2020 | $633K | $959K | $2.3M | $276K | — | View 990 |
| 2019 | $7.8M | $8.0M | $2.7M | $367K | — | View 990 |
| 2018 | $10.9M | $10.4M | $3.1M | $693K | — | — |
| 2017 | $10.0M | $10.2M | $2.6M | $765K | — | View 990 |
| 2016 | $8.4M | $8.5M | $2.6M | $603K | — | View 990 |
| 2015 | $8.9M | $8.8M | $2.7M | $648K | — | View 990 |
| 2014 | $8.5M | $8.6M | $2.7M | $738K | — | View 990 |
| 2013 | $8.1M | $7.6M | $2.6M | $539K | — | View 990 |
| 2012 | $8.0M | $8.0M | $2.1M | $456K | — | View 990 |
| 2011 | $6.1M | $6.1M | $2.0M | $316K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.1M, expenses of $1.2M, and assets of $1.3M (revenue +78.1% year-over-year).
- 2023: Revenue of $596K, expenses of $1.3M, and assets of $1.4M (revenue -35.1% year-over-year).
- 2022: Revenue of $918K, expenses of $1.1M, and assets of $2.2M (revenue -13.5% year-over-year).
- 2021: Revenue of $1.1M, expenses of $982K, and assets of $2.3M (revenue +67.8% year-over-year).
- 2020: Revenue of $633K, expenses of $959K, and assets of $2.3M (revenue -91.8% year-over-year).
- 2019: Revenue of $7.8M, expenses of $8.0M, and assets of $2.7M (revenue -28.7% year-over-year).
- 2018: Revenue of $10.9M, expenses of $10.4M, and assets of $3.1M (revenue +8.6% year-over-year).
- 2017: Revenue of $10.0M, expenses of $10.2M, and assets of $2.6M (revenue +18.7% year-over-year).
- 2016: Revenue of $8.4M, expenses of $8.5M, and assets of $2.6M (revenue -4.9% year-over-year).
- 2015: Revenue of $8.9M, expenses of $8.8M, and assets of $2.7M (revenue +4.3% year-over-year).
- 2014: Revenue of $8.5M, expenses of $8.6M, and assets of $2.7M (revenue +5.2% year-over-year).
- 2013: Revenue of $8.1M, expenses of $7.6M, and assets of $2.6M (revenue +1.8% year-over-year).
- 2012: Revenue of $8.0M, expenses of $8.0M, and assets of $2.1M (revenue +29.8% year-over-year).
- 2011: Revenue of $6.1M, expenses of $6.1M, and assets of $2.0M.
Data Sources and Methodology
This transparency report for Carereach 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.