Carolina Family Services Inc
Carolina Family Services Inc. shows recent financial recovery and asset growth after years of fluctuating performance.
EIN: 205647348 · Greenville, SC · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.0M |
| Program Spending | 80% |
| Net Assets | $246K |
| Transparency Score | 75/100 |
Is Carolina Family Services Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carolina Family Services Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carolina Family Services Inc
Carolina Family Services Inc (EIN: 205647348) is a nonprofit organization based in Greenville, SC, classified under NTEE code P20. The organization reported total revenue of $1.7M and total assets of $456K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carolina Family Services Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carolina Family Services Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.0M |
| Surplus / Deficit | +$153K |
| Total Assets | $501K |
| Total Liabilities | $256K |
| Net Assets | $246K |
| Operating Margin | 12.9% |
| Debt-to-Asset Ratio | 51.0% |
| Months of Reserves | 5.8 months |
Financial Health Grade: A
In 2023, Carolina Family Services Inc reported a surplus of $153K with revenue exceeding expenses, holds 5.8 months of operating reserves (adequate), has a debt-to-asset ratio of 51.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Carolina Family Services Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +93.5% | +67.9% | +438.8% |
| 2022 | -30.1% | -23.3% | -2.2% |
| 2021 | +18.9% | -0.4% | -69.1% |
| 2020 | -2.8% | +7.1% | -0.3% |
| 2019 | -2.8% | -5.6% | -2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Carolina Family Services Inc with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Carolina Family Services Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $153K, with revenue exceeding expenses.
- Debt-to-asset ratio: 51.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no compensation was paid to officers or that it was not reported in this specific field, which is a strong positive for donor trust and suggests resources are directed towards the mission.
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 Carolina Family Services Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Carolina Family Services Inc:
- 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.
Frequently Asked Questions about Carolina Family Services Inc
Is Carolina Family Services Inc a legitimate charity?
Carolina Family Services Inc (EIN: 205647348) is a registered tax-exempt nonprofit based in South Carolina. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.7M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Carolina Family Services Inc spend its money?
Carolina Family Services Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Carolina Family Services Inc tax-deductible?
Carolina Family Services Inc is registered as a tax-exempt nonprofit (EIN: 205647348). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Carolina Family Services Inc's spending goes to programs?
Carolina Family Services Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carolina Family Services Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Carolina Family Services Inc is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carolina Family Services Inc located?
Carolina Family Services Inc is headquartered in Greenville, South Carolina and files with the IRS under EIN 205647348. It is classified under NTEE code P20.
How many years of IRS 990 filings does Carolina Family Services Inc have?
Carolina Family Services 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 $1.7M in total revenue.
Is Carolina Family Services Inc. financially stable?
The organization's financial stability has improved significantly, with assets growing from $93,013 in 2022 to $501,131 in 2023, and a positive net income of $152,561 in 2023 ($1,181,363 revenue - $1,028,802 expenses).
How has the organization's revenue trended over time?
Revenue has fluctuated, peaking at $1,463,077 in 2015, dipping to $610,610 in 2022, and recovering to $1,181,363 in 2023.
What is the organization's approach to executive compensation?
All available filings consistently report 0% officer compensation, suggesting a commitment to directing funds towards programs rather than executive salaries.
Are the organization's expenses under control?
In 2023, expenses ($1,028,802) were less than revenue ($1,181,363), indicating good expense management for that period, a positive change from several prior years where expenses exceeded revenue.
Filing History
IRS 990 filing history for Carolina Family Services Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Carolina Family Services Inc's revenue has grown by 69.4%, moving from $697K to $1.2M. Total assets increased by 43.4% over the same period, from $349K to $501K. Total functional expenses rose by 47.4%, from $698K to $1.0M. In its most recent filing year (2023), Carolina Family Services Inc reported a surplus of $153K, with revenue exceeding expenses. The organization holds $256K in liabilities against $501K in assets (debt-to-asset ratio: 51.0%), resulting in net assets of $246K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.0M | $501K | $256K | — | — |
| 2022 | $611K | $613K | $93K | $0 | — | View 990 |
| 2021 | $873K | $799K | $95K | $0 | — | View 990 |
| 2020 | $734K | $802K | $307K | $286K | — | — |
| 2019 | $755K | $749K | $308K | $173K | — | View 990 |
| 2018 | $777K | $794K | $315K | $186K | — | View 990 |
| 2017 | $1.0M | $1.1M | $336K | $148K | — | View 990 |
| 2016 | $1.2M | $1.3M | $403K | $158K | — | View 990 |
| 2015 | $1.5M | $1.4M | $493K | $166K | — | View 990 |
| 2014 | $1.3M | $1.2M | $457K | $174K | — | View 990 |
| 2013 | $1.1M | $1.2M | $374K | $187K | — | View 990 |
| 2012 | $1.1M | $1.0M | $422K | $193K | — | View 990 |
| 2011 | $697K | $698K | $349K | $196K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.0M, and assets of $501K (revenue +93.5% year-over-year).
- 2022: Revenue of $611K, expenses of $613K, and assets of $93K (revenue -30.1% year-over-year).
- 2021: Revenue of $873K, expenses of $799K, and assets of $95K (revenue +18.9% year-over-year).
- 2020: Revenue of $734K, expenses of $802K, and assets of $307K (revenue -2.8% year-over-year).
- 2019: Revenue of $755K, expenses of $749K, and assets of $308K (revenue -2.8% year-over-year).
- 2018: Revenue of $777K, expenses of $794K, and assets of $315K (revenue -23.7% year-over-year).
- 2017: Revenue of $1.0M, expenses of $1.1M, and assets of $336K (revenue -17.4% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.3M, and assets of $403K (revenue -15.7% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.4M, and assets of $493K (revenue +16.7% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.2M, and assets of $457K (revenue +10.5% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.2M, and assets of $374K (revenue +2.2% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.0M, and assets of $422K (revenue +59.3% year-over-year).
- 2011: Revenue of $697K, expenses of $698K, and assets of $349K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carolina Family Services Inc:
Data Sources and Methodology
This transparency report for Carolina Family Services 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.