Civic Intelligence

Care Ring Inc.

990 • Fiscal year 2024 • EIN 56-0621073

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 06, 2024

601 East 5th Street 140Charlotte, NC 28202

(704) 375-0172

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.45x

Higher debt load relative to assets than 67% of similar nonprofits.

2024 filings • NTEE E • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

68th percentile

0.41x

Higher debt load relative to revenue than 68% of similar nonprofits.

2024 filings • NTEE E • $5M-$10M nonprofits • Source year 2024

Net Margin

81st percentile

26%

Higher net margin than 81% of similar nonprofits.

2024 filings • NTEE E • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

45th percentile

$196,814

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2024 filings • NTEE E • $5M-$10M nonprofits • Source year 2024

Asset Growth

95th percentile

210%

Faster asset growth than 95% of similar nonprofits.

2024 filings • NTEE E • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

67%

Faster revenue growth than 89% of similar nonprofits.

2024 filings • NTEE E • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,136,493

Up $5,510,564 (+210%) from 2023

Net Assets

Up

$4,452,029

Up $2,409,022 (+118%) from 2023

Liabilities

Up

$3,684,464

Up $3,101,542 (+532%) from 2023

Revenue

Up

$9,088,748

Up $3,660,853 (+67%) from 2023

Expenses

Up

$6,707,643

Up $781,241 (+13%) from 2023

Net Income

Up

$2,381,105

Up $2,879,612 (+578%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $1,857,851Liabilities 2011: $26,084Net Assets 2011: $1,831,7672011Assets 2012: $2,121,674Liabilities 2012: $31,227Net Assets 2012: $2,090,4472012Assets 2013: $2,004,329Liabilities 2013: $42,160Net Assets 2013: $1,962,1692013Assets 2014: $1,951,734Liabilities 2014: $23,468Net Assets 2014: $1,928,2662014Assets 2015: $2,010,385Liabilities 2015: $48,774Net Assets 2015: $1,961,6112015Assets 2016: $2,461,869Liabilities 2016: $95,610Net Assets 2016: $2,366,2592016Assets 2017: $2,211,104Liabilities 2017: $76,037Net Assets 2017: $2,135,0672017Assets 2018: $2,537,188Liabilities 2018: $109,600Net Assets 2018: $2,427,5882018Assets 2019: $2,104,291Liabilities 2019: $150,746Net Assets 2019: $1,953,5452019Assets 2020: $3,474,606Liabilities 2020: $1,077,472Net Assets 2020: $2,397,1342020Assets 2021: $3,186,503Liabilities 2021: $730,227Net Assets 2021: $2,456,2762021Assets 2022: $3,510,598Liabilities 2022: $986,793Net Assets 2022: $2,523,8052022Assets 2023: $2,625,929Liabilities 2023: $582,922Net Assets 2023: $2,043,0072023Assets 2024: $8,136,493Liabilities 2024: $3,684,464Net Assets 2024: $4,452,0292024Assets 2025: $8,026,383Liabilities 2025: $2,831,375Net Assets 2025: $5,195,0082025

Highlighted filing

2024

Assets$8,136,493
Liabilities$3,684,464
Net Assets$4,452,029

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2011: $1,863,1222011Expenses 2012: $1,921,6942012Expenses 2013: $1,874,4332013Revenue 2014: $2,054,449Expenses 2014: $2,130,412Net Income 2014: -$75,9632014Revenue 2015: $2,578,382Expenses 2015: $2,539,156Net Income 2015: $39,2262015Revenue 2016: $3,216,977Expenses 2016: $2,796,852Net Income 2016: $420,1252016Revenue 2017: $2,928,177Expenses 2017: $3,191,733Net Income 2017: -$263,5562017Revenue 2018: $3,580,579Expenses 2018: $3,309,848Net Income 2018: $270,7312018Revenue 2019: $3,326,138Expenses 2019: $3,809,767Net Income 2019: -$483,6292019Revenue 2020: $4,412,596Expenses 2020: $3,965,890Net Income 2020: $446,7062020Revenue 2021: $4,466,196Expenses 2021: $4,491,677Net Income 2021: -$25,4812021Revenue 2022: $5,419,756Expenses 2022: $5,313,183Net Income 2022: $106,5732022Revenue 2023: $5,427,895Expenses 2023: $5,926,402Net Income 2023: -$498,5072023Revenue 2024: $9,088,748Expenses 2024: $6,707,643Net Income 2024: $2,381,1052024Revenue 2025: $7,750,894Expenses 2025: $7,042,129Net Income 2025: $708,7652025

Highlighted filing

2024

Revenue$9,088,748
Expenses$6,707,643
Net Income$2,381,105
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 6, 2024
Return Version
2023v5.1
Gross Receipts
$9,088,748
Mission and Program Overview

Mission

To empower individuals with limited resources to establish and maintain good health.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$941,106$3,397,823▲ $2,456,717
Accounts Receivable$382,364$504,751▲ $122,387
Pledges and Grants Receivable$138,850$417,272▲ $278,422
Investments Other Securities$306,879$306,685▼ $194
Savings and Temporary Cash Investments$190,952$191,014▲ $62
Land, Buildings, and Equipment, Net$55,035$94,622▲ $39,587
Prepaid Expenses and Deferred Charges$60,520$63,372▲ $2,852
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,625,929$8,136,493▲ $5,510,564
Other Assets Total$550,223$3,160,954▲ $2,610,731
Liabilities
Other Liabilities$294,116$2,940,262▲ $2,646,146
Deferred Revenue$142,890$581,987▲ $439,097
Accounts Payable and Accrued Expenses$145,916$162,215▲ $16,299
Total Liabilities$582,922$3,684,464▲ $3,101,542
Net Assets / Fund Balance
Net Assets With Donor Restrictions$689,992$3,173,992▲ $2,484,000
Net Assets Without Donor Restrictions$1,353,015$1,278,037▼ $74,978
Total Net Assets Fund Balance$2,043,007$4,452,029▲ $2,409,022
Total Liabilities and Net Assets / Fund Balance$2,625,929$8,136,493▲ $5,510,564

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$35,939$177,560$213,499
Equipment$8,183$96,171$104,354
Other Land Buildings$50,500-$50,500
Other Assets Org$67,132--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$306,879-▲ $30,421$28,111$306,685
2022$330,112-▲ $20,195$40,942$306,879
2021$369,156-▼ $36,122-$330,112
2020$284,535-▲ $87,162-$369,156
2019$287,651-▼ $818-$284,535
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tchernavia MontgomeryExecutive DirectorFT$169,171$27,643$196,814

Board Members and Trustees

NameTitle
Michael TomsicChair
Philip A PoleyPast Chair
Anabel Paniagua-DoyleBoard Member
Andrea WagesBoard Member
Andrew BradshawBoard Member
Chasty UnderwoodBoard Member
Dean F CikinsBoard Member
Dr Sherry SaxonhouseBoard Member
Erik LioyBoard Member
Felicia BarnesBoard Member
Heather WhiteBoard Member
Heidi HendersonBoard Member
Jennifer SnowBoard Member
Jewel GreywoodeBoard Member
Jomaira OrtizBoard Member
Kimberly HendersonBoard Member
Miguel GuevaraBoard Member
Morgan HintonBoard Member
Peter StipicevicBoard Member
Rodney GaddyBoard Member
Salim UqdahBoard Member
Stephanie ApplingBoard Member
William W HadleyBoard Member
Dr Sam LongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$8,615,760
Program Service Revenue
$370,615
Investment Income
$7,244
Other Revenue
$95,129
All Other Contributions
$4,309,703
Change in Net Assets
$2,381,105

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,088,748
Revenue Not Reported on Form 990
$71,076,881
Total Revenue per Audited Statements
$80,165,629
Total Revenue per Form 990
$9,088,748
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,088,040
Other Expenses$1,619,603
Total Fundraising Expense$279,564
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,457,579$165,156$169,515$3,792,250
Other Employee Benefits$589,292$39,820$27,725$656,837
Fees for Services Management$365,577$207,350$23,652$596,579
Payroll Taxes$280,013$18,921$13,174$312,108
Conferences and Meetings$222,304$21,303$6,495$250,102
Current Officers, Directors, Trustees, and Key Employees$145,425$78,306-$223,731
Fees for Services Accounting$102,300$58,023$6,618$166,941
Occupancy$134,091$13,646$11,412$159,149
Pension Plan Contributions$92,511$6,251$4,352$103,114
Travel$63,912$667$37$64,616
Insurance$33,299$609$1,219$35,127
All Other Expenses$15,810$5,965$9,002$30,777
Other Expenses$25,809$2,096$1,119$29,024
Advertising$4,552$5,513$2,682$12,747
Depreciation Depletion$9,275$1,638-$10,913
Total Functional Expenses$5,775,432$652,647$279,564$6,707,643

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$77,756,607
Expenses Not Reported on Form 990$71,048,964
Expenses per Audited Statements$6,707,643
Total Expenses per Form 990$6,707,643
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of use liability$2,940,262
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the internal committee prior to being filed with the IRS. The Board of Directors will also receive a copy of the 990 prior to it being filed with the IRS.

Form 990, Part VI, Section B, Line 12C

The organization effectively monitors and enforces compliance with the conflict of interest policy that is reviewed annually.

Form 990, Part VI, Section B, Line 15A

The Care Ring Executive Committee of the Board of Directors evaluates the Executive Director's compensation. The Executive Committee is comprised of the Board Chair, Vice Chair, Treasurer, Secretary, The Executive Committee Chair, and the Human Resources Director (non-voting). The committee first meets to confirm the goals and consider compensation. The committee uses three salary survey sources (Ascent Peer Analysis, Non-profit Times, and Employer's Association) to benchmark compensation for the position. In addition to the salary survey data, the committee consults the annual budget prepared by the Treasurer and Controller. The annual budget contains a detailed schedule of compensation for employees and the Executive Director. Once the committee reaches a consensus regarding performance, it discusses compensation relative to the annual benchmarks and established objectives. The committee presents its findings and recommendations for review and approval during an executive session at the board meeting. The Executive Director is not present for the session. Following the executive session, the Board Chair informs the Executive Director of the Board's compensation decision. The process described here was last completed in 2024.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Care Ring Inc
EIN
56-0621073
Phone
7043750172
Address
601 East 5th Street 140, Charlotte, NC 28202

Signing Officer

Name
Michael Tomsic
Title
Chair
Signed
2024-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tchernavia Montgomery
Formed
1955
Legal Domicile
Nc
Voting Board Members
24
Independent Board Members
24
Employees
101
Volunteers
1,600

Preparer

Firm
Foard and Company PA
Address
1347 Harding Place, Charlotte, NC 28204
Preparer
Terry W Lancaster
Phone
7043721515
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: A Guided Journey Program (Maternal Health)Launched in 2021, the Organizations A Guided Journey (AGJ), is a maternal-child health initiative that employs residents living in six priority health zip codes to serve as Community Health Workers. These state-certified individuals work in their own communities to educate and support pregnant and new moms, providing information, guidance and connection to needed resources. AGJ is a complement to NFP and for the year ended June 30, 2024, served 493 families who may have not qualified for or needed the intensive, long-term support provided through NFP. AGJ seeks to intentionally address social determinants of health needs for families, such as access to timely care, food assistance, transportation, childcare and housing. Through this long-term case management program, families are empowered and provided with education and support to promote healthy lifestyles. The program is supported with an abundance of community partnerships. In 2024, AGJ was expanded through the receipt of a federal Healthy Start Enhanced Grant from the US Department of Health & Human Services. This expansion seeks to reduce the well-documented racial and ethnic differences in the rates of infant death and adverse maternal health outcomes in the Charlotte-Mecklenburg community. Care Ring was the only organization of the 10 nationally awarded that identifies as a standalone non-profit, with others being housed within government funded public health institutions. In 2024, 91% of women completed post-partum visits within 6 weeks of delivery, having established a medical home. Maturing the model, AGJ also began measuring early childhood outcomes in 2024. Through strong literacy education, 66% of AGJ families read to their child at least 3 days a week, compared to the national average of 55%. OTHER PROGRAM SERVICES 5: Psysicians Reach Out Program (PRO)The Organization's Physicians Reach Out Program (PRO) provides the uninsured with access to comprehensive health care, including primary care, specialty care, labs, diagnostic tests and hospital-based services. For every dollar invested in PRO, the Organization leverages $120 in donated charges provided by a robust network of approximately 1,600 volunteer physicians and allied health professionals. For the year ended June 30, 2024, PRO provided approximately $70.1 million in donated medical and dental charges to 6,168 patients enrolled in the program. The program coordinated 2,863 specialty care referrals, including 108 referrals for cancer treatment, 218 referrals to surgery and 133 pediatric specialty care referrals.

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

To support the organization's mission.

Part X : FIN48 Footnote

The Organization is a North Carolina not-for-profit corporation and is exempt from income taxes under Section 501 (c)(3) of the Internal Revenue Code. The Organization is not classified as a private foundation. Additionally, management believes the Organization does not have income subject to unrelated business income tax. Accordingly, no provision for income taxes is required in the financial statements. The Organization's income tax returns are subject to review and examination by various taxing authorities. The Organization is not aware of any activities that would jeopardize its tax-exempt status. The Organization is not aware of any activities that are subject to tax on unrelated business income or excise taxes. U.S. GAAP requires the Organization to recognize a tax benefit or expense from an uncertain tax position only if it is more likely that not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. Management believes the Organization had no uncertain tax positions as of June 30, 2024, and 2023.

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IRS990/Form990PartVIISectionAGrp/PersonNm1Anabel Paniagua-Doyle
IRS990/Form990PartVIISectionAGrp/PersonNm2Andrea Wages
IRS990/Form990PartVIISectionAGrp/PersonNm3Andrew Bradshaw
IRS990/Form990PartVIISectionAGrp/PersonNm4Chasty Underwood
IRS990/Form990PartVIISectionAGrp/PersonNm5Dean F Cikins
IRS990/Form990PartVIISectionAGrp/PersonNm6Dr Sam Long
IRS990/Form990PartVIISectionAGrp/PersonNm7Dr Sherry Saxonhouse
IRS990/Form990PartVIISectionAGrp/PersonNm8Erik Lioy
IRS990/Form990PartVIISectionAGrp/PersonNm9Felicia Barnes
IRS990/Form990PartVIISectionAGrp/PersonNm10Heather White
IRS990/Form990PartVIISectionAGrp/PersonNm11Heidi Henderson
IRS990/Form990PartVIISectionAGrp/PersonNm12Jennifer Snow
IRS990/Form990PartVIISectionAGrp/PersonNm13Jewel Greywoode
IRS990/Form990PartVIISectionAGrp/PersonNm14Jomaira Ortiz
IRS990/Form990PartVIISectionAGrp/PersonNm15Kimberly Henderson
IRS990/Form990PartVIISectionAGrp/PersonNm16Michael Tomsic
IRS990/Form990PartVIISectionAGrp/PersonNm17Miguel Guevara
IRS990/Form990PartVIISectionAGrp/PersonNm18Morgan Hinton
IRS990/Form990PartVIISectionAGrp/PersonNm19Peter Stipicevic
IRS990/Form990PartVIISectionAGrp/PersonNm20Philip A Poley
IRS990/Form990PartVIISectionAGrp/PersonNm21Rodney Gaddy
IRS990/Form990PartVIISectionAGrp/PersonNm22Salim Uqdah
IRS990/Form990PartVIISectionAGrp/PersonNm23Stephanie Appling
IRS990/Form990PartVIISectionAGrp/PersonNm24William W Hadley
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt1Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt16Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt17Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt18Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt19Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt20Past Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt21Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt22Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt23Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt24Board Member
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IRS990/FormationYr01955
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
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IRS990/MembersOrStockholdersInd0false
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IRS990/MissionDesc0To empower individuals with limited resources to establish and maintain good health.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/OtherExpensesGrp/Desc0Program Assistance
IRS990/OtherExpensesGrp/Desc1Supplies
IRS990/OtherExpensesGrp/Desc2Communications
IRS990/OtherExpensesGrp/Desc3Equipment
IRS990/OtherExpensesGrp/FundraisingAmt0474

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.03$2.83$5.20$7.75$7.04$0.71
2024Detailed filing. Detailed filing data is available for this year.$8.14$3.68$4.45$9.09$6.71$2.38
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.63$0.58$2.04$5.43$5.93$0.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.51$0.99$2.52$5.42$5.31$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$0.73$2.46$4.47$4.49$0.03
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.47$1.08$2.40$4.41$3.97$0.45
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$0.15$1.95$3.33$3.81$0.48
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.54$0.11$2.43$3.58$3.31$0.27
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.21$0.08$2.14$2.93$3.19$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.46$0.10$2.37$3.22$2.80$0.42
2015Detailed filing. Detailed filing data is available for this year.$2.01$0.05$1.96$2.58$2.54$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.95$0.02$1.93$2.05$2.13$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.00$0.04$1.96$1.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.12$0.03$2.09$1.92
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.86$0.03$1.83$1.86