Civic Intelligence

The Cares Project Inc

990 • Fiscal year 2020 • EIN 81-2944362

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 26, 2021

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

57th percentile

0.01x

Higher debt load relative to assets than 57% of similar nonprofits.

2020 filings • NTEE P • <$500k nonprofits • Source year 2020

Liabilities / Revenue

56th percentile

0.01x

Higher debt load relative to revenue than 56% of similar nonprofits.

2020 filings • NTEE P • <$500k nonprofits • Source year 2020

Net Margin

68th percentile

21%

Higher net margin than 68% of similar nonprofits.

2020 filings • NTEE P • <$500k nonprofits • Source year 2020

Top Officer Pay

97th percentile

$74,343

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 28.7% of source-year revenue.

2020 filings • NTEE P • <$500k nonprofits • Source year 2020

Asset Growth

69th percentile

32%

Faster asset growth than 69% of similar nonprofits.

2020 filings • NTEE P • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

74th percentile

21%

Faster revenue growth than 74% of similar nonprofits.

2020 filings • NTEE P • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$218,878

Up $53,558 (+32%) from 2019

Net Assets

Up

$216,496

Up $55,048 (+34%) from 2019

Liabilities

Down

$2,382

Down $1,490 (-38%) from 2019

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin68th percentile

Revenue

Up

$258,904

Up $45,221 (+21%) from 2019

Expenses

Up

$203,856

Up $30,641 (+18%) from 2019

Net Income

Up

$55,048

Up $14,580 (+36%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2020

Assets$218,878
Liabilities$2,382
Net Assets$216,496
Open 2020 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

2020

Revenue$258,904
Expenses$203,856
Net Income$55,048
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 26, 2021
Return Version
2020v4.0
Gross Receipts
$258,904
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
Cash and Non-Interest-Bearing Accounts$55,927$127,895▲ $71,968
Other Notes and Loans Receivable, Net$84,732$88,870▲ $4,138
Pledges and Grants Receivable$24,500$1,836▼ $22,664
Total Assets$165,320$218,878▲ $53,558
Other Assets Total$161$277▲ $116
Liabilities
Accounts Payable and Accrued Expenses$3,872$2,382▼ $1,490
Total Liabilities$3,872$2,382▼ $1,490
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$161,448$211,496▲ $50,048
Net Assets With Donor Restrictions-$5,000-
Total Net Assets Fund Balance$161,448$216,496▲ $55,048
Total Liabilities and Net Assets / Fund Balance$165,320$218,878▲ $53,558
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott MclaughlinCEOFT$57,245$17,098$74,343

Board Members and Trustees

NameTitle
Andrew LarowePresident
Fred BazemoreDirector
Melinda C BeauchampDirector
Neal CheekDirector
Renee GriffinDirector
Tamara K TaylorDirector
Michelle YountsTreasurer
Ann RobertsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$252,979
Program Service Revenue
$5,925
Investment Income
$0
Other Revenue
$0
All Other Contributions
$72,492
Change in Net Assets
$55,048

Audited Revenue Reconciliation

Revenue per Audited Statements
$258,904
Total Revenue per Audited Statements
$258,904
Total Revenue per Form 990
$258,904
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$174,882
Other Expenses$28,974
Total Fundraising Expense$133
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$63,475$10,869-$74,344
Other Salaries and Wages$58,320$9,987-$68,307
Payroll Taxes$14,629$2,505-$17,134
Other Employee Benefits$12,362$2,735-$15,097
Occupancy$8,328$8-$8,336
Fees for Services Accounting$1,698$3,915-$5,613
All Other Expenses$1,447--$1,447
Advertising$1,029-$133$1,162
Other Expenses$272$714-$986
Insurance$750--$750
Office Expenses$161$343-$504
Travel$367--$367
Conferences and Meetings$362--$362
Total Functional Expenses$172,445$31,278$133$203,856

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$203,856
Total Expenses per Audited Statements$203,856
Total Expenses per Form 990$203,856
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
2021-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Larowe
Formed
2016
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
12

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.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is an exempt center under section 501(c)(3) of the united states internal revenue code and classified by the internal revenue service as other than a private foundation. The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization's form 990, return of organization exempt from income tax are subject to examination by the irs, generally for three years after they are filed.”

Raw XML Appendix390 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt03872
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt02382
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0THE 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.
IRS990/AdvertisingGrp/FundraisingAmt0133
IRS990/AdvertisingGrp/ProgramServicesAmt01029
IRS990/AdvertisingGrp/TotalAmt01162
IRS990/AllOtherContributionsAmt072492
IRS990/AllOtherExpensesGrp/ProgramServicesAmt01447
IRS990/AllOtherExpensesGrp/TotalAmt01447
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BooksInCareOfDetail/PersonNm0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum03367510313
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03410 HEALY DR STE 209
IRS990/BooksInCareOfDetail/USAddress/CityNm0WINSTONSALEM
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990/BooksInCareOfDetail/USAddress/ZIPCd027103
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt055927
IRS990/CashNonInterestBearingGrp/EOYAmt0127895
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt010869
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt063475
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt074344
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt0362
IRS990/ConferencesMeetingsGrp/TotalAmt0362
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0252979
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt028974
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt05925
IRS990/CYRevenuesLessExpensesAmt055048
IRS990/CYSalariesCompEmpBnftPaidAmt0174882
IRS990/CYTotalExpensesAmt0203856
IRS990/CYTotalFundraisingExpenseAmt0133
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0258904
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/Desc0THE ORGANIZATION MADE COMMUNITY FUNDED VEHICLE LOANS TO FOUR LOW INCOME, CREDIT-CHALLENGED, WORKING ADULTS WHICH ASSISTED THEM AND THEIR FAMILIES IN BECOMING FINANCIALLY SECURE THROUGH CAR OWNERSHIP.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt05000
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt03
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt0172445
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FederatedCampaignsAmt029000
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt03915
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt01698
IRS990/FeesForServicesAccountingGrp/TotalAmt05613
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt017098
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/PersonNm0SCOTT MCLAUGHLIN
IRS990/Form990PartVIISectionAGrp/PersonNm1MELINDA C BEAUCHAMP
IRS990/Form990PartVIISectionAGrp/PersonNm2FRED BAZEMORE
IRS990/Form990PartVIISectionAGrp/PersonNm3NEAL CHEEK
IRS990/Form990PartVIISectionAGrp/PersonNm4RENEE GRIFFIN
IRS990/Form990PartVIISectionAGrp/PersonNm5ANDREW LAROWE
IRS990/Form990PartVIISectionAGrp/PersonNm6ANN ROBERTS
IRS990/Form990PartVIISectionAGrp/PersonNm7TAMARA K TAYLOR
IRS990/Form990PartVIISectionAGrp/PersonNm8MICHELLE YOUNTS
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt057245
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr02016
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GovernmentGrantsAmt0151487
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0258904
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt08
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt0750
IRS990/InsuranceGrp/TotalAmt0750
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0161448
IRS990/NetAssetsOrFundBalancesEOYAmt0216496
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0161448
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0211496
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt08
IRS990/OccupancyGrp/ProgramServicesAmt08328
IRS990/OccupancyGrp/TotalAmt08336
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0343
IRS990/OfficeExpensesGrp/ProgramServicesAmt0161
IRS990/OfficeExpensesGrp/TotalAmt0504
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0161
IRS990/OtherAssetsTotalGrp/EOYAmt0277
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02735
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012362
IRS990/OtherEmployeeBenefitsGrp/TotalAmt015097
IRS990/OtherExpensesGrp/Desc0OTHER CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3MISC EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt020
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1139
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt243
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3714
IRS990/OtherExpensesGrp/ProgramServicesAmt05287
IRS990/OtherExpensesGrp/ProgramServicesAmt12312
IRS990/OtherExpensesGrp/ProgramServicesAmt21646
IRS990/OtherExpensesGrp/ProgramServicesAmt3272
IRS990/OtherExpensesGrp/TotalAmt05307
IRS990/OtherExpensesGrp/TotalAmt12451
IRS990/OtherExpensesGrp/TotalAmt21689
IRS990/OtherExpensesGrp/TotalAmt3986
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt09987
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt058320
IRS990/OtherSalariesAndWagesGrp/TotalAmt068307
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt084732
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt088870
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02505
IRS990/PayrollTaxesGrp/ProgramServicesAmt014629
IRS990/PayrollTaxesGrp/TotalAmt017134
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt024500
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01836
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANDREW LAROWE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522291
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON AUTO LOANS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05925
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05925
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0209910
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt036857
IRS990/PYProgramServiceRevenueAmt03773
IRS990/PYRevenuesLessExpensesAmt040468
IRS990/PYSalariesCompEmpBnftPaidAmt0136358
IRS990/PYTotalExpensesAmt0173215
IRS990/PYTotalRevenueAmt0213683
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt055048
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt05925
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0252979
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0209910
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0163343
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt044400
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt04350
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0674982
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0476
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0476
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt010598
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0668491
IRS990ScheduleA/SubstantialContributorsTotAmt06491
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0252979
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0209910
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0163343
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt044400
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt04350
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0674982
IRS990ScheduleA/TotalSupportAmt0675458
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0203856
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt0258904
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS AN EXEMPT CENTER UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalExpensesPerForm990Amt0203856
IRS990ScheduleD/TotalRevenuePerForm990Amt0258904
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0258904
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0203856
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0165320
IRS990/TotalAssetsEOYAmt0218878
IRS990/TotalAssetsGrp/BOYAmt0165320
IRS990/TotalAssetsGrp/EOYAmt0218878
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0252979
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0133
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031278
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0172445
IRS990/TotalFunctionalExpensesGrp/TotalAmt0203856
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03872
IRS990/TotalLiabilitiesEOYAmt02382
IRS990/TotalLiabilitiesGrp/BOYAmt03872
IRS990/TotalLiabilitiesGrp/EOYAmt02382
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0161448
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0216496
IRS990/TotalOtherCompensationAmt017098
IRS990/TotalProgramServiceExpensesAmt0172445
IRS990/TotalProgramServiceRevenueAmt05925
IRS990/TotalReportableCompFromOrgAmt057245
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05925
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0258904
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0165320
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0218878
IRS990/TravelGrp/ProgramServicesAmt0367
IRS990/TravelGrp/TotalAmt0367
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02421 LIMNER LANE
IRS990/USAddress/CityNm0WINSTON SALEM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027106
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.THECARESPROJECT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT MCLAUGHLIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03368401555
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE CARES PROJECT INC
ReturnHeader/Filer/BusinessNameControlTxt0CARE
ReturnHeader/Filer/EIN0812944362
ReturnHeader/Filer/PhoneNum03367510313
ReturnHeader/Filer/USAddress/AddressLine1Txt03410 HEALY DRIVE SUITE 209
ReturnHeader/Filer/USAddress/CityNm0WINSTONSALEM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027103
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560727655
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CANNON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02160 COUNTRY CLUB RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINSTONSALEM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0271044208
ReturnHeader/PreparerPersonGrp/PhoneNum03367250635
ReturnHeader/PreparerPersonGrp/PreparationDt02021-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0VALERIE D KIGER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-10T14:39:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SCOTT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCLAUGHLIN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$218,878
Liabilities
$2,382
Net assets
$216,496
Revenue
$258,904
Expenses
$203,856
Net income
$55,048
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