Caritas

Nonprofit profile at a glance

EIN
541441917
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8043580964
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Homeless Shelters

Official website

Reported finances

Revenue
$6,418,005
Expenses
$6,763,285
Assets
$22,464,807
Liabilities
$2,476,320

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • KAREN O'BRIEN (CEO)

Highest reported compensation

  • KAREN O'BRIEN (CEO): $218,251 total reported compensation
  • MARK CASSIDY (CFO): $154,795 total reported compensation
  • CLARA STOKES (CAO): $153,325 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Caritas creates a safe space to heal and time to rebuild.

What it reported doing in 2024

Recovery residences - caritas provides stable housing at a reasonable cost in a sober living environment and utilizes resource connections to enhance individual support networks, employment opportunities, self-awareness, and self-esteem. Our close community provides a supportive environment for individuals to practice their own pathways to recovery.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 90% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.2%; rating input score 84
  • Program expense ratio: 79.4%; rating input score 79
  • Fundraising efficiency: $10.71 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 3.32; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 84.2% of revenue deployed · 79.4% of spending went to programs
  • Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $5.4M in reported program spending
  • Leadership: top reported pay $218K · 23 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $677K reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.