Carenet Inc
- Assets
- $2.1m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 12/1996
- Data as of
- 12/2021
- EIN
- 56-1977341
Organization Overview
Carenet Inc is located in Winston Salem, NC. The organization was established in 1996. According to its NTEE Classification (J21) the organization is classified as: Vocational Counseling, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carenet Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Carenet Inc generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH OF THE MIND, BODY, SPIRIT AND COMMUNITY THROUGH SPIRITUALLY-INTEGRATED COUNSELING, PSYCHOTHERAPY, RESEARCH AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED 21,377 SESSIONS OF MENTAL HEALTH COUNSELING THROUGH 32 LOCATIONS ACROSS THE STATE OF NORTH CAROLINA DURING THE SHORT TAX YEAR 2021. 2,347 OF THOSE HOURS WERE PROVIDED BY ITS COHORT OF FOURTEEN RESIDENTS, FIVE OF WHOM WILL COMPLETE RESIDENCY AND CONTINUE WITH THE ORGANIZATION AS LICENSED CLINICIANS PROVIDING ONGOING SERVICE TO INDIVIDUALS AND FAMILIES IN THE COMMUNITIES THEY SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Hatcher Drph Trustee, President | OfficerTrustee | 40 | $145,904 |
Terry Williams Chair | OfficerTrustee | 0.1 | $0 |
J Mclain Wallace Jr Secretary | Officer | 1 | $0 |
Bradley A Clark Treasurer | Officer | 0.1 | $0 |
Gary Gunderson Trustee | Trustee | 1 | $0 |
Kevin High MD Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $500 |
| Government grants | $276,301 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $379,151 |
| Total Program Service Revenue | $2,266,000 |
| Investment income | $1,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,743 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,648,506 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $63,046 |
| Compensation of current officers, directors, key employees. | $31,523 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,030,257 |
| Pension plan accruals and contributions | $107,748 |
| Other employee benefits | $217,817 |
| Payroll taxes | $173,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,191 |
| Advertising and promotion | $0 |
| Office expenses | $10,134 |
| Information technology | $65,397 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,771 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $214,078 |
| Total functional expenses | $2,941,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,412,068 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $604,407 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $97,319 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,113,794 |
| Accounts payable and accrued expenses | $1,437,936 |
| Grants payable | $0 |
| Deferred revenue | $41,335 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,479,271 |
| Net assets without donor restrictions | $634,523 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,113,794 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carenet Inc has recieved totaling $127,649.
| Awarding Organization | Amount |
|---|---|
North Carolina Baptist Hospital Winstonsalem, NC PURPOSE: COMMUNITY SUPPORT | $127,649 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Carenet Inc Winston Salem, NC | $2,113,794 | $2,648,506 |
Information Technology Senior Management Forum Inc Atlanta, GA | $3,574,254 | $2,844,185 |
National Institute For Metalworking Skills Inc Fairfax, VA | $1,397,764 | $1,942,044 |
Phoenix Employment Services Of Wilmington Inc Wilmington, NC | $1,322,817 | $1,242,849 |
Karuna Counseling Inc Decatur, GA | $63,871 | $401,192 |
Learn To Earn Inc Petersburg, VA | $79,888 | $411,262 |
International Critical Infrastructure Security Institute Forest, VA | $2,749 | $0 |
Womens Entrepreneurial Opportunity Project Inc Atlanta, GA | $48,532 | $0 |
Crossroads Career Services Inc Greenville, SC | $79,601 | $0 |
Macon Regional Crime Stoppers Inc Macon, GA | $79,964 | $83,953 |
The Homeowners Employment Corporation Conyers, GA | $26,621 | $0 |
Helius Foundation Durham, NC | $21,796 | $102,152 |