The CareSource Foundation

Nonprofit profile at a glance

EIN
562582561
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Dayton, OH, USA
Phone
9372243300
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$3,680,093
Expenses
$3,421,600
Assets
$1,053,870
Liabilities
$58,000

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Erhardt Preitauer (President, Trustee)

Highest reported compensation

  • Erhardt Preitauer (President, Trustee): $12,201,162 total reported compensation
  • Richard Topping (Secretary/Trustee (To 5/31)): $3,490,556 total reported compensation
  • Lawrence Smart (Treasurer): $3,471,086 total reported compensation

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

Overview

Mission

The CareSource Foundation is organized and operated exclusively to further the charitable purposes of the Internal Revenue Code Section 501(c)(3) organizations within the CareSource Public Charities(Continued on Schedule O).

What it reported doing in 2024

Since 2006, The CareSource Foundation has awarded more than $35.5 million to nonprofits that are working to eliminate poverty, provide much-needed services to low-and moderate-income families, encourage healthy communities, develop innovative approaches to address critical health issues and enhance the lives of a diverse array of children, adults and families (Continued on Schedule O).The CareSource Foundation is committed to improving the overall health and well-being, both physically and mentally, on behalf of and at the direction of, its supported organizations.To do this, the Foundation focuses on the following priority areas: (1) Support health education and promote healthy habits (2) Improve maternal, infant and child health (3) Support individuals with disabilities and other complex populations to live independently (4) Redevelop neighborhoods and downtown (Exclusive to the Dayton region) (5) Develop a 21st century workforce2024 HighlightsThe CareSource Foundation is committed to working every day alongside providers and community partners to make a difference in the lives of our members and the communities we serve. The following grants are a small sampling of how the Foundation achieves this goal.(1) Invested $180,000 into Georgia's Valley Healthcare System Inc.'s OnMed Mobile Care Station, supporting access to care for underserved communities.(2) Donated $144,000 to Bring Change 2 Mind Middle School Mental Health Awareness Program in Indiana.(3) Donated $170,000 to Habitat for Humanity of Greater Dayton to support critical home repair and workforce development in Dayton, OH. (4) Invested $100,000 to the CHC: Creating Healthier Communities Black Birthing Initiative to address maternal health disparities affecting Black birth individuals in Georgia. (5) Donated $150,000 to the Arc of Indiana, supporting people with disabilities. (6) Donated $150,000 to the Victory Over Poverty Campaign in Dayton, OH, focused on empowering young men through education and work training programs.

Operating model

Revenue model
Affiliate-supported. 95% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 67
  • Accountability: 76
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.2%; rating input score 86
  • Program expense ratio: 91.9%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96%; rating input score 96; 31st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 289.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 86.2% of revenue deployed · 91.9% of spending went to programs
  • Governance: 6 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.1M in reported program spending
  • Leadership: top reported pay $12.2M · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 56 filed money-flow records
  • Related organizations: 82 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.