Civic Intelligence

The Cares Project Inc

990 • Fiscal year 2019 • EIN 81-2944362

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 24, 2020

Organization ProfileWWW.THECARESPROJECT.ORG
3410 Healy Drive Suite 209Winstonsalem, NC 27103

(336) 751-0313

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.02x

Higher debt load relative to assets than 63% of similar nonprofits.

2019 filings • NTEE P • <$500k nonprofits • Source year 2019

Liabilities / Revenue

64th percentile

0.02x

Higher debt load relative to revenue than 64% of similar nonprofits.

2019 filings • NTEE P • <$500k nonprofits • Source year 2019

Net Margin

72nd percentile

19%

Higher net margin than 72% of similar nonprofits.

2019 filings • NTEE P • <$500k nonprofits • Source year 2019

Top Officer Pay

96th percentile

$65,187

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 30.5% of source-year revenue.

2019 filings • NTEE P • <$500k nonprofits • Source year 2019

Asset Growth

76th percentile

32%

Faster asset growth than 76% of similar nonprofits.

2019 filings • NTEE P • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

74th percentile

30%

Faster revenue growth than 74% of similar nonprofits.

2019 filings • NTEE P • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$165,320

Up $39,627 (+32%) from 2018

Net Assets

Up

$161,448

Up $40,468 (+33%) from 2018

Liabilities

Down

$3,872

Down $841 (-18%) from 2018

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin72nd percentile

Revenue

Up

$213,683

Up $48,964 (+30%) from 2018

Expenses

Up

$173,215

Up $90,074 (+108%) from 2018

Net Income

Down

$40,468

Down $41,110 (-50%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$800K$600K$400K$200K$0Assets 2016: $4,350Liabilities 2016: $02016Assets 2017: $39,402Liabilities 2017: $02017Assets 2018: $125,693Liabilities 2018: $4,713Net Assets 2018: $120,9802018Assets 2019: $165,320Liabilities 2019: $3,872Net Assets 2019: $161,4482019Assets 2020: $218,878Liabilities 2020: $2,382Net Assets 2020: $216,4962020Assets 2021: $342,424Liabilities 2021: $3,763Net Assets 2021: $338,6612021Assets 2022: $267,914Liabilities 2022: $8,605Net Assets 2022: $259,3092022Assets 2023: $504,552Liabilities 2023: $62,626Net Assets 2023: $441,9262023Assets 2024: $701,830Liabilities 2024: $215,941Net Assets 2024: $485,8892024Assets 2025: $678,502Liabilities 2025: $165,233Net Assets 2025: $513,2692025

Highlighted filing

2019

Assets$165,320
Liabilities$3,872
Net Assets$161,448
Open 2019 Filing

Operations Trend

Revenue Growth74th percentile

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

$600K$400K$200K$0-$200KRevenue 2016: $4,350Expenses 2016: $0Net Income 2016: $4,3502016Revenue 2017: $44,400Expenses 2017: $9,348Net Income 2017: $35,0522017Revenue 2018: $164,719Expenses 2018: $83,141Net Income 2018: $81,5782018Revenue 2019: $213,683Expenses 2019: $173,215Net Income 2019: $40,4682019Revenue 2020: $258,904Expenses 2020: $203,856Net Income 2020: $55,0482020Revenue 2021: $352,040Expenses 2021: $229,875Net Income 2021: $122,1652021Revenue 2022: $120,589Expenses 2022: $199,941Net Income 2022: -$79,3522022Revenue 2023: $424,564Expenses 2023: $241,947Net Income 2023: $182,6172023Revenue 2024: $296,908Expenses 2024: $252,945Net Income 2024: $43,9632024Revenue 2025: $363,037Expenses 2025: $335,657Net Income 2025: $27,3802025

Highlighted filing

2019

Revenue$213,683
Expenses$173,215
Net Income$40,468
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 24, 2020
Return Version
2019v5.0
Gross Receipts
$213,683
Mission and Program Overview

Mission

The cares project, inc. Is a non-profit emerging community development financial institution serving people with incomes at or below eighty percent of the area median family income who live in forsyth, davie, and davidson counties. The organization's mission is to help low income individuals and families to become financially secure through car ownership, by making community-funded vehicle loans and by building skills through financial and credit coaching.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$22,058$81,581▲ $59,523
Cash and Non-Interest-Bearing Accounts$97,592$55,927▼ $41,665
Pledges and Grants Receivable-$24,500-
Receivables From Officers Etc$5,625$3,151▼ $2,474
Total Assets$125,693$165,320▲ $39,627
Other Assets Total$418$161▼ $257
Liabilities
Accounts Payable and Accrued Expenses$4,713$3,872▼ $841
Total Liabilities$4,713$3,872▼ $841
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$120,980$161,448▲ $40,468
Total Net Assets Fund Balance$120,980$161,448▲ $40,468
Total Liabilities and Net Assets / Fund Balance$125,693$165,320▲ $39,627
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott MclaughlinCEOFT$49,865$15,322$65,187

Board Members and Trustees

NameTitle
Andrew LarowePresident
Fred BazemoreDirector
Krystal DumasDirector
Larry HungerfordDirector
Melinda C BeauchampDirector
Neal CheekDirector
Tamara K TaylorDirector
Garry LowerySecretary
Michelle YountsTreasurer
Ann RobertsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$209,910
Program Service Revenue
$3,773
Investment Income
$0
Other Revenue
$0
All Other Contributions
$40,262
Change in Net Assets
$40,468

Audited Revenue Reconciliation

Revenue per Audited Statements
$213,683
Total Revenue per Audited Statements
$213,683
Total Revenue per Form 990
$213,683
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$136,358
Other Expenses$36,857
Total Fundraising Expense$803
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$48,891$16,297-$65,188
Other Salaries and Wages$32,591$17,494-$50,085
Other Employee Benefits$7,679$4,117-$11,796
Occupancy$7,388$674-$8,062
Payroll Taxes$5,355$2,290-$7,645
Fees for Services Other$4,779$1,725-$6,504
Advertising$3,896-$502$4,398
Fees for Services Accounting$3,524$507-$4,031
Insurance$1,213$511-$1,724
Travel-$1,663-$1,663
Pension Plan Contributions$963$681-$1,644
Office Expenses$1,010$162$151$1,323
Conferences and Meetings-$825$95$920
Other Expenses$559$10-$559
All Other Expenses$99-$55$154
Fees for Services Legal$60--$60
Total Functional Expenses$125,245$47,167$803$173,215

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$173,215
Total Expenses per Audited Statements$173,215
Total Expenses per Form 990$173,215
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 Officers, Directors, Trustees, and Key Employees$5,625$3,151▼ $2,474
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Page 6, Part VI, Line 11B

“The 990 will be reviewed by the ceo and treasurer (or chairman of the board) prior to being filed.”

Form 990, Page 6, Part VI, Line 12C

“Annually, board members are required to approve the conflict of interest policy and to fill out a disclosure form for any actual or potential conflicts of interest. Any conflicts of interest are discussed by the board and provisions are made for resoloving the conflict, either by recusing the board member from voting on issues related to the conflict, up to and including requiring the resignation of the board member.”

Form 990, Page 6, Part VI, Line 15A

“Comparability data is used to obtain a range of compensation for other local organizations of similar asset size and number of employees. The board uses this range of compensation together with performance goals and objectives expected of the ceo for the program year to determine compensation for the next twelve months.”

Form 990, Page 6, Part VI, Line 15B

“The ceo sets all other wage ranges based upon comparability data for specific jobs in the local area and performance goals and objectives of the key employee for the program year.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to the public by request.”

Filing and Contact Details

Filer

Filer Name
The Cares Project Inc
EIN
81-2944362
Phone
3367510313
Address
3410 HEALY DRIVE SUITE 209, WINSTONSALEM, NC 27103

Signing Officer

Name
Scott Mclaughlin
Title
CEO
Phone
3368401555
Signed
2020-08-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Larowe
Formed
2016
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
3
Volunteers
19

Preparer

Firm
Cannon & Company Llp
Address
2160 COUNTRY CLUB RD, WINSTONSALEM, NC 27104-4208
Preparer
Valerie D Kiger
Phone
3367250635
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The cares project, inc. Is a non-profit emerging community development financial institution serving people with incomes at or below eighty percent of the area median family income who live in forsyth, davie, and davidson counties. The organization's mission is to help low income individuals and families to become financially secure through car ownership, by making community-funded vehicle loans and by building skills through financial and credit coaching.”

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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0963
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IRS990/PrincipalOfficerNm0ANDREW LAROWE
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IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON AUTO LOANS
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt05625
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03773
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0476
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0476
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt04673
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IRS990ScheduleA/PublicSupportTotal170Amt0414453
IRS990ScheduleA/SubstantialContributorsTotAmt07550
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0209910
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt044400
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04350
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0422003
IRS990ScheduleA/TotalSupportAmt0422479
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/ExpensesSubtotalAmt0173215
IRS990ScheduleD/RevenueSubtotalAmt0213683
IRS990ScheduleD/TotalExpensesPerForm990Amt0173215
IRS990ScheduleD/TotalRevenuePerForm990Amt0213683
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0213683
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0173215
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt03151
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0AUTO LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt07617
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0KRYSTAL DUMAS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt03151
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CARES PROJECT, INC. IS A NON-PROFIT EMERGING COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SERVING PEOPLE WITH INCOMES AT OR BELOW EIGHTY PERCENT OF THE AREA MEDIAN FAMILY INCOME WHO LIVE IN FORSYTH, DAVIE, AND DAVIDSON COUNTIES. THE ORGANIZATION'S MISSION IS TO HELP LOW INCOME INDIVIDUALS AND FAMILIES TO BECOME FINANCIALLY SECURE THROUGH CAR OWNERSHIP, BY MAKING COMMUNITY-FUNDED VEHICLE LOANS AND BY BUILDING SKILLS THROUGH FINANCIAL AND CREDIT COACHING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WILL BE REVIEWED BY THE CEO AND TREASURER (OR CHAIRMAN OF THE BOARD) PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY, BOARD MEMBERS ARE REQUIRED TO APPROVE THE CONFLICT OF INTEREST POLICY AND TO FILL OUT A DISCLOSURE FORM FOR ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. ANY CONFLICTS OF INTEREST ARE DISCUSSED BY THE BOARD AND PROVISIONS ARE MADE FOR RESOLOVING THE CONFLICT, EITHER BY RECUSING THE BOARD MEMBER FROM VOTING ON ISSUES RELATED TO THE CONFLICT, UP TO AND INCLUDING REQUIRING THE RESIGNATION OF THE BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPARABILITY DATA IS USED TO OBTAIN A RANGE OF COMPENSATION FOR OTHER LOCAL ORGANIZATIONS OF SIMILAR ASSET SIZE AND NUMBER OF EMPLOYEES. THE BOARD USES THIS RANGE OF COMPENSATION TOGETHER WITH PERFORMANCE GOALS AND OBJECTIVES EXPECTED OF THE CEO FOR THE PROGRAM YEAR TO DETERMINE COMPENSATION FOR THE NEXT TWELVE MONTHS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CEO SETS ALL OTHER WAGE RANGES BASED UPON COMPARABILITY DATA FOR SPECIFIC JOBS IN THE LOCAL AREA AND PERFORMANCE GOALS AND OBJECTIVES OF THE KEY EMPLOYEE FOR THE PROGRAM YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0125693
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt047167
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0125245
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IRS990/TotalProgramServiceExpensesAmt0125245
IRS990/TotalProgramServiceRevenueAmt03773
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03773
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0213683
IRS990/TotalVolunteersCnt019
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0165320
IRS990/TravelGrp/ManagementAndGeneralAmt01663
IRS990/TravelGrp/TotalAmt01663
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02421 LIMNER LANE
IRS990/USAddress/CityNm0WINSTON SALEM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027106
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.THECARESPROJECT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-11-06 18:47:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT MCLAUGHLIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03368401555
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE CARES PROJECT INC
ReturnHeader/Filer/BusinessNameControlTxt0CARE
ReturnHeader/Filer/EIN0812944362
ReturnHeader/Filer/PhoneNum03367510313

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$165,320
Liabilities
$3,872
Net assets
$161,448
Revenue
$213,683
Expenses
$173,215
Net income
$40,468
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.79$1.65$5.13$3.63$3.36$0.27
2024Detailed filing. Detailed filing data is available for this year.$7.02$2.16$4.86$2.97$2.53$0.44
2023Detailed filing. Detailed filing data is available for this year.$5.05$0.63$4.42$4.25$2.42$1.83
2022Detailed filing. Detailed filing data is available for this year.$2.68$0.09$2.59$1.21$2.00$0.79
2021Detailed filing. Detailed filing data is available for this year.$3.42$0.04$3.39$3.52$2.30$1.22
2020Detailed filing. Detailed filing data is available for this year.$2.19$0.02$2.16$2.59$2.04$0.55
2019Detailed filing. Detailed filing data is available for this year.$1.65$0.04$1.61$2.14$1.73$0.40
2018Detailed filing. Detailed filing data is available for this year.$1.26$0.05$1.21$1.65$0.83$0.82
2017Summary only. Only limited summary data is available for this year.$0.39$0.00$0.44$0.09$0.35
2016Summary only. Only limited summary data is available for this year.$0.04$0.00$0.04$0.00$0.04