2024-07-17T09:25:52-05:00 2023-12-31 560817345 TURLINGTON AND COMPANY LLP 1338 WESTGATE CENTER DRIVE WINSTONSALEM NC 27103 990 2023-01-01 812944362 THE CARES PROJECT INC CARE 3368401555 3410 HEALY DRIVE WINSTONSALEM NC 27103 SCOTT MCLAUGHLIN CEO 3368401555 2024-07-10 1 SCOTT MCLAUGHLIN 999009999 1 DEXTER A GARNER P01276494 3367652410 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z ANDREW LAROWE 2421 LIMNER LANE WINSTON SALEM NC 27106 424564 0 X WWW.THECARESPROJECT.ORG X 2016 NC THE CARES PROJECT, INC. IS A NON-PROFIT CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SERVING PEOPLE WITH INCOMES AT OR BELOW EIGHT PERCENT OF THE AREA MEDIAN FAMILY INCOME WHO LIVE IN FORSYTH, DAVIE, AND DAVIDSON COUNTIES. THE ORGANIZATION'S MISSION IS TO HELP LOW INCOME INDIVIDUALS AND FAMILIES BECOME FINANCIALLY SECURE THROUGH CAR OWNERSHIP BY MAKING COMMUNITY-FUNDED VEHICLE LOANS AND BY BUILDING SKILLS THROUGH FINANCIAL AND CREDIT COACHING. 9 9 4 0 0 0 108593 404650 11996 19871 0 0 0 43 120589 424564 0 0 0 0 103833 143715 0 0 0 96108 98232 199941 241947 -79352 182617 267914 504552 8605 62626 259309 441926 SEE SCHEDULE O 0 0 202914 19914 THE ORGANIZATION MADE COMMUNITY-FUNDED VEHICLE LOANS TO 25 LOW INCOME, CREDIT-CHALLENGED WORKING ADULTS, WHICH ASSISTED THEM AND THEIR FAMILIES IN BECOMING FINANCIALLY SECURE THROUGH CAR OWNERSHIP. 202914 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 4 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X THE ORGANIZATION 3368401555 3410 HEALY DR STE 209 WINSTONSALEM NC 27103 ANDREW LAROWE PRESIDENT 2.00 X X 0 0 0 TAMARA TAYLOR VICE PRESIDENT 2.00 X X 0 0 0 MICHELLE YOUNTS TREASURER 2.00 X X 0 0 0 RICK HALL SECRETARY 2.00 X X 0 0 0 FRED BAZEMORE DIRECTOR 1.00 X 0 0 0 NEAL CHEEK DIRECTOR 1.00 X 0 0 0 RENEE GRIFFIN DIRECTOR 1.00 X 0 0 0 MARCIA PHILLIPS DIRECTOR 1.00 X 0 0 0 SHAWAN GABRIEL DIRECTOR 1.00 X 0 0 0 SCOTT MCLAUGHLIN CEO 40.00 X 78500 0 0 78500 0 0 0 0 0 0 0 57263 275619 71768 404650 INTEREST ON AUTO LOANS 522291 19871 19871 19871 43 43 43 424564 19914 0 0 78630 62904 15726 47849 42296 5553 7576 6301 1275 9660 8035 1625 12705 6252 6453 695 695 964 964 2709 2709 1123 1123 24530 20403 4127 PROVISION FOR CREDIT LO 30623 30623 OPERATING LEASE EXPENSE 12750 10200 2550 REPAIRS AND MAINTENANCE 5730 5682 48 DUES AND MEMBERSHIPS 3411 3411 2992 2439 553 241947 202914 39033 0 57726 42811 28874 28055 621 426 172007 387075 6310 1636 4609 4674 4077 41511 267914 504552 4528 4315 4077 58311 8605 62626 X 230435 389871 28874 52055 259309 441926 267914 504552 182617 0 X 0 1 X 0 0 X 209910 252979 343806 108593 404650 1319938 209910 252979 343806 108593 404650 1319938 1319938 1319938 1.00000 0.99960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6310 1636 4674 4674 OPERATING LEASE RIGHT OF USE ASSETS 41511 41511 OPERATING LEASE OBLIGATION, CURRENT 13178 REFUNDABLE ADVANCES 16048 OPERATING LEASE OBLIGATION, NONCURRENT 29085 58311 X 424564 0 424564 0 424564 241947 0 241947 0 241947 PART X, LINE 2: THE ORGANIZATION HAS DETERMINED THAT IT HAS NO UNCERTAIN INCOME TAX POSITIONS AS OF DECEMBER 31, 2023. ALSO, THE ORGANIZATION DOES NOT ANTICIPATE ANY INCREASE OR DECREASE IN UNRECOGNIZED TAX BENEFITS DURING THE NEXT TWELVE MONTHS THAT WOULD RESULT IN A MATERIAL CHANGE IN ITS FINANCIAL POSITION. THE ORGANIZATION'S INCOME TAX RETURNS FOR THE YEARS ENDED AFTER DECEMBER 31, 2020 REMAIN OPEN FOR EXAMINATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE REVIEWED BY THE CEO AND TREASURER (OR CHAIRMAN OF THE BOARD) PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO APPROVE THE CONFLICT OF INTEREST POLICY AND COMPLETE A DISCLOSURE FORM FOR ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. ANY CONFLICTS OF INTEREST ARE DISCUSSED BY THE BOARD AND PROVISIONS ARE MADE FOR RESOLVING THE CONFLICT, EITHER BY RECUSING THE MEMBER FROM VOTING ON ISSUES RELATED TO THE CONFLICT, OR BY REQUIRING RESIGNATION OF THE BOARD MEMBER, IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS FOR TOP OFFICIAL: COMPARABILITY DATA IS USED TO OBTAIN A RANGE OF COMPENSATION FOR OTHER LOCAL ORGANIZATIONS OF SIMILAR ASSET SIZE AND NUMBER OF EMPLOYEES. THE BOARD USES THIS RANGE OF COMPENSATION, TOGETHER WITH PERFORMANCE GOALS AND OBJECTIVES EXPECTED OF THE CEO FOR THE PROGRAM YEAR, TO DETERMINE COMPENSATION FOR THE NEXT TWELVE MONTHS. COMPENSATION PROCESS FOR OFFICERS: THE CEO SETS ALL OTHER WAGE RANGES BASED ON COMPARABILITY DATA FOR SPECIFIC JOBS IN THE LOCAL AREA AND PERFORMANCE GOALS AND OBJECTIVES OF THE KEY EMPLOYEE FOR THE PROGRAM YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY REQUEST.