The Carey Foundation Inc

Nonprofit profile at a glance

EIN
454907360
IRS 990-EZ coverage
2018–2020
Forms available
Form 990 2017, Form 990-EZ 2020, Form 990-N 2014
Location
Saddle River, NJ, USA
Phone
9175029343
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Patient Services - Entertainment, Recreation

Reported finances

Revenue
$114,493
Expenses
$173,035
Assets
$261,875
Liabilities
$10,497

Source: IRS Form 990-EZ. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • LINDA LANCASTER-CAREY (PRESIDENT/EXECUTIVE DIRECTOR)
  • BOB CAREY (VICE PRESIDENT)

People named in this filing

  • LINDA LANCASTER-CAREY (PRESIDENT/EXECUTIVE DIRECTOR)
  • BOB CAREY (VICE PRESIDENT)
  • MARYBETH LEET (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide support for women and men diagnosed with breast cancer, survivors, and their family.

What it reported doing in 2020

The carey foundation raises funds and, through our grant program, allocates the funds to other organizations, which in turn, distribute the funds to men and women with breast cancer. These grants help cover incidental costs not covered by insurance such as childcare, wigs, lymphedema garments, mortgage payments, and transportation. Our grants also fund a resource program that helps navigate the newly diagnosed patients and survivors through the overwhelming task of researching, applying for, and receiving financial support. To maintain direct contact with our community of breast cancer survivors, we offer a small grant program to cover gas and grocery expenses. To receive funds the patient must supply proof of diagnosis from his/her physician. We also provide cheer packages that include various items; patients can nominate themselves, a family member or friend. The nominee will receive a set of postcards with a special note from linda, the co-founder and breast cancer survivor, along with some other treats, depending on what supplies or products we have available, that we ship to randomly selected individuals.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 100
  • Sustainability: 28
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.4%; rating input score 97
  • Program expense ratio: 64.4%; rating input score 64

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -51.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 1.51; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 19.9%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: -7.3% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: -11.5% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 97.4% of revenue deployed · 64.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $111K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.