Chartercare Foundation

Nonprofit profile at a glance

EIN
260236669
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
North Providence, RI, USA
Phone
4013494602
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$676,453
Expenses
$476,175
Assets
$7,076,227
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • PATRICIA WEGZRYN MCGREEN (PRESIDENT)
  • SHANNON SHALLCROSS MS (VICE PRESIDENT/TREASURER)
  • PAULA IACONO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PAULA IACONO (EXECUTIVE DIRECTOR): $101,616 total reported compensation

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

Overview

Mission

To serve as a community resource for accessible, affordable and responsive health care and related services- include disease prevention, education and research grants, scholarships, clinics and related activities to benefit the greater Rhode Island community.

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 87
  • Accountability: 69
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80.5%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.6%; rating input score 96; 43rd 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.6%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 14.86; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 21.3%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $383K in reported program spending
  • Leadership: top reported pay $102K · 8 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 9 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 13/100.