Carerite T F C Inc
- Assets
- $165.9k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Takoma Park, MD
- Founding
- 11/2011
- Data as of
- 12/2023
- EIN
- 80-0364189
Organization Overview
Carerite T F C Inc is located in Takoma Park, MD. The organization was established in 2011. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Carerite T F C Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carerite T F C 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 12/2023, Carerite T F C Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 28.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THERAPEUTIC FOSTER CARE TO CHILDREN,ADOLESCENTS, AND YOUNG ADULTS WITH DEVELOPMENTAL DISABILITIES, AS WELL AS EMOTIONAL AND BEHAVIOURAL CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARERITE HAS PROVIDED STABLE FOSTER PARENT/HOMES FOR CHILDREN REFERRED FOR PLACEMENT BY THE DEPARTMENT OF SOCIAL SERVICES IN BALTIMORE CITY, HOWARD AND MONTGOMERY COUNTIES CARERITE ALSO PROVIDED MONIES FOR CLIENT CARE AND SERVICES IN THE FOSTER PARENT HOMES. CARERITE PROVIDED BACK TO SCHOOL SUPPLIES, SEASONAL CLOTHING EVERY QUARTER OF THE YEAR. THE COMPANY PROVIDED HOLIDAY GIFTS AND MEALS FOR THE FOSTER FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adaku Okorie Executive Director | Officer | 10 | $37,870 |
Mrs Anne Nwabukwu Chairperson | Trustee | 2 | $0 |
Mrs Elizabeth Trimnell Director | Trustee | 2 | $0 |
Ms Sara Solano Director | Trustee | 2 | $0 |
Ms Evelyn Vanegas Secretary | Trustee | 2 | $0 |
Mr Chris Coker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $192,625 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,625 |
| Total Program Service Revenue | $1,040,702 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,233,329 |
| 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. | $61,870 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $324,359 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,547 |
| Fees for services: Management | $73,504 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $521 |
| Office expenses | $7,962 |
| Information technology | $28,326 |
| Royalties | $0 |
| Occupancy | $262,433 |
| Travel | $484 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $190 |
| Interest | $5,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $665 |
| Insurance | $66,499 |
| All other expenses | $337,902 |
| Total functional expenses | $1,210,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,221 |
| Savings and temporary cash investments | $12,588 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,739 |
| 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 | $7,665 |
| Net Land, buildings, and equipment | $3,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $165,851 |
| Accounts payable and accrued expenses | $37,176 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $645,166 |
| Other liabilities | $0 |
| Total liabilities | $682,342 |
| Net assets without donor restrictions | -$516,491 |
| 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 | $165,851 |