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1. NONPROFIT INVESTOR
I N D E P E N D E N T R E S E A R C H F O R P H I L A N T H R O P Y
CaringBridge SUMMARY
CaringBridge is a social network, keeping families and loved ones
Nonprofit Investor Rating: connected through its free websites during any type of health event.
BUY STRENGTHS
▲ Strong support from its beneficiaries. In 2011, CaringBridge’s
Mission Statement beneficiaries provided nearly 90% of contributions. Additionally, 72%
To amplify the love, hope and compassion in of newly created sites came from the recommendation of others.
the world, making each health journey easier. ▲ Provides an evolving service offering. Currently in its 15th year,
CaringBridge continues to evolve and improve upon its service
offerings. Examples of CaringBridge’s evolution include the
Financial Overview CaringBook in 2008, iPhone, Android and iPad applications and a
$ in MM, Fiscal Year Ended December 31 mobile site in 2010, and SupportPlanner and Amplifier Hub in 2012.
2009 2010 2011
▲ Respectful of users’ privacy. Per the expectation of its users and
Revenue and Support $5.8 $8.2 $8.8
unlike most social media sites, CaringBridge’s sites are ad‐free and
Operating Expenses $5.1 $6.4 $9.2
personal data is protected and not sold. Users are able to choose
% of Total: their own privacy settings and their sites are not searchable by
Program Expenses 80.6% 80.5% 81.8% search engines.
Fundraising 15.1% 4.7% 6.5%
CAUTIONS
G&A 4.3% 14.8% 11.6%
● Stay abreast of technology. With the proliferation of social
Year Founded: 1997 networking sites, CaringBridge needs to continue investing in its
platform and providing its users with the advances and
Contact Details improvements they expect from for‐profit social networking sites,
CaringBridge, Inc. such as Facebook.
1715 Yankee Doodle Road, Suite 301 ● Continue to raise awareness of CaringBridge’s service offerings.
Eagan, MN 55121
Starting in 2010, CaringBridge launched marketing and advertising
(651) 452‐7940
campaigns in order to raise awareness of its service offerings
http://www.caringbridge.org through formal channels. As over 70% of CaringBridge sites created
EIN: 42‐1529394 are on the recommendation of someone else, CaringBridge should
continue to explore different methods to increase awareness.
Analyst: Ruth Yen
Peer Review: Jeffrey Todd, James Peng RECOMMENDATION: BUY
Since 1997, CaringBridge’s program model and firm stance on privacy
Publication Date has been effectively addressing a sensitive need and has mainly been
September 11, 2012
supported by its beneficiaries. CaringBridge continues to update its
technology and evolve and increase awareness around its service
offerings. The organization has the elements in place that should
allow it to continue increasing the number of people it serves.
Nonprofit Investor Research | nonprofitinvestor.org

2. OVER
RVIEW OF CA
ARINGBRIDGE
E’S ACTIVITIES
Founnded in 1997 by Sona Mehring, Caring
gBridge has had over 1.3 billion visitor to CaringB
h rs Bridge.org wo
orldwide. The
e
organnization servees to provide
e people who are facing a health condiition and their families an nd friends witth a simplified
d
way to communic cate, making each health journey easier. Through its free Car
h ringBridge sit users can post journa
tes, n al
entries with health updates and photos, which can be sent out to their su
t upporters thr rough email notifications
s.
Suppporters are abble to stay connected, expressing their feelings and leaving word ds of hope annd encouragement through h
the s
site’s guestboook. Connect ting through CaringBridge helps people e overcome p physical and emotional distances when n
beingg there is esse
ential.
Carin yone, anywhe and at no cost. CaringBridge offers protected
vices are available online 24/7 to any
ngBridge serv ere d
onlin spaces wit multiple privacy setting Personal data is prot
ne th gs. tected and not sold and t
there is no a
advertising on
n
Carin
ngBridge sites
s and planner rs.
CarinngBridge Sitees
CarinngBridge (ww ww.CaringBri idge.org) provides sites
wher re people cann post health updates. Peo ople are able
to stay connected and leav supportiv messages
ve ve
durin any health event, big or small, ac
ng h cute or long‐
term.
Access to a CaringgBridge site reequires that v visitors know
exact name of the site they are trying to reach,
the e t
usually provided by a family member or friend. In
y r
addittion, CaringgBridge user can add password
rs d
proteection, create a “by invit
e ist” to allow
tation only li
acces to pre‐ap
ss pproved visit tors or bloc access to
ck
speciific unwantedd visitors. CaringBridge us sers have com mplete contro
ol of the priva
acy settings an
nd can modiffy them at any y
time. Personal daata is protecteed and never r sold. When a new site is started, CaringBridge sennds the user a
a confirmation n
mess sage and pro
ovides a samp announce
ple ement email that can be forwarded t family and friends so t
to d they can stay
y
updaated.
SuppportPlanner
Launched in 2012 the CaringBridge Suppo
2, ortPlanner
p://supportpla
(http anner.caringb bridge.org) helps
famil and friends coordinat care and organize
ly te
taskss, such as brin
nging a meal, , taking care of pets or
other needs.
SuppportPlanner has persona alization and privacy
d
optioons, allowing the user to ccustomize helpful tasks
for f
family and friends. Peo
f ople can sig up for
gn
speci tasks to show their support. Use do not
ific ers
needd to have a Ca aringBridge site in order to o create a
SuppportPlanner.
CariingBridge | N
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3. Amplifier Hub
Launched in 2012, th he Amplifier Hub
(http
p://amplifierhhub.caringbrid
dge.org) gives
volunnteers the opportunity to spread the word
o t
abou CaringBrid
ut dge and its mission, as well as
s
connnect with voluunteers and oother suppor rters. The
Amplifier Hub includes video tutorials to make it
o o
easie
er for volunte ort CaringBridge, online
eers to suppo
forum
ms and group ps to promote discussion, local and
regio
onal calend dars, even nts and speaking
engagements an social media resources so
nd m
advoocates can shaare CaringBrid
dge through Facebook,
Youtube and Twit tter.
ngBridge is supported by and partners with more than 500 hospitals and healthcare systems an nearly 100
Carin y e nd 0
nonpprofit health‐bbased organiz
zations, amonng other orga anizations sho
own in the be
elow table.
Organizati
ion Types Sa
ample of Cari
ingBridge’s P
Partners and A
Alliances
Awareness Or
A rganizations
Emp
ployee Assistance Program
ms
Faith‐Based O
F Organizations
Healthcare Facilities
Insurance P
Providers
Nonprofit Organizations
Professional O
Organizations
Carin
ngBridge is su
upported by in‐kind dono who provide essential equipment, technology a services at no cost to
ors and o
Carin
ngBridge. Below are the 20 011 CaringBridge in‐kind d
donors:
2011
1 CaringBridg
ge In‐Kind Don
nors
CariingBridge | N
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4. PROGRAM RESULTS AND EFFECTIVENESS
CaringBridge measures its impact in a number of different methods, including by:
 Requesting feedback from its customers
 Tracking site traffic, number of new sites created, donor gifts, etc.
 Commissioning third party research studies
Market Penetration
According to the CaringBridge White Paper, 60% of American adults are online for health information and every day
10,000 Americans face cancer diagnoses, birth complications or serious injuries. By estimating that 3,650,000 Americans
have a serious health concern per year and comparing that to the 64,755 new CaringBridge sites created in 2011, one
can infer that CaringBridge currently reaches approximately two percent of the addressable market. In addition,
CaringBridge has historically relied on word‐of‐mouth, as 72% of CaringBridge sites created are on the recommendation
of someone else.
Despite double‐digit growth in site creation over the life of the organization, CaringBridge acknowledges that it reaches
only a fraction of the potential market. Since its incorporation in 2002, the organization’s focus had been on IT and
establishing a strong foundation for the service it provides. However, beginning in the summer of 2010 CaringBridge has
been ramping up its marketing and advertising campaigns, via referrals and affiliations with health‐related organizations,
as well as public relations and advertising campaigns. As a part of this push, CaringBridge developed and launched
mobile applications so that its sites and resources are accessible to people on their iPhones and Android phones and
iPad tablets. It is important for CaringBridge to both (a) remain on top of technology to improve accessibility of its
services and (b) form more formal channels for making people aware of its service offerings.
Impact on Beneficiaries
CaringBridge also understands the importance of a holistic approach toward healing. In a 2010 survey, commissioned by
Forrester Consulting on behalf of CaringBridge, 91% of CaringBridge users who faced or are facing a health challenge
such as cancer, premature birth or injury said CaringBridge helped make their journey easier. 88% of users said
CaringBridge positively impacted their healing process. 99% of patients who responded to the survey said that reading
the guestbook on their CaringBridge sites positively impacted their health journey, with 91% indicating that writing in
their site’s journal had a similar effect.
Nearly all patients surveyed by CaringBridge said that the service was an easy way to update family and friends (98%),
centralized and eased the communication burden (98%), saved time and emotional energy (96%) and enabled love,
compassion and hope (95%).
TRANSPARENCY
CaringBridge management provided requested historical information and data and made themselves available for
questions. CaringBridge is audited by Baker Tilly Virchow Krause, LLP, a Minneapolis based accounting firm. The
organization provides financial information from December 31, 2010 to 2011 in its financial statements and Form 990s
from 2008 to 2011 on its website. The 2006 ‐ 2011 annual reports are available on the CaringBridge website.
CaringBridge also provides a white paper by Forrester Consulting on its website.
CaringBridge | Nonprofit Investor Research 4

5.
FINA
ANCIAL OVERV
VIEW
CarinngBridge’s tottal revenue grew 40.5%, fr rom $5.8 mill lion in 2009 t
to $8.2 million n in 2010, whhich may have e been due too
the mmarketing and d advertising campaign initiated in the e summer of 2010. As pre eviously ment tioned and as a testament
to th appreciatio of CaringB
he on Bridge’s bene eficiaries, alm
most 90% of a of CaringB
all Bridge’s funding comes fro users and
om d
their friends and families who use its sites In 2011, 115,403 indiv
o s. 1 vidual donors contributed $8.3 million toward tota
s d n al
reven of $8.8 million. Tota contributio made up 94.6% of tot revenue, an increase f
nue m al ons tal from 86.7% i 2008. This
in
increease is attribu
utable in partt to CaringBri idge’s success sful 2011 funndraising cam mpaign. CarinngBridge typic cally launches
its fu
undraising cammpaigns twice a year, dur ring June and at the end o of the year. In June 2011, , CaringBridgee launched its
“You Are Powerfu fundraisin campaign, focused on raising $1 m
ul” ng , million. The c
campaign wa made up o direct mail,
as of
socia media, mo
al obile, search engine opt
h timization, video and W
v Web. During the “You Are Powerfu campaign
g ul” n,
CarinngBridge saw a 58% spike in giving as co ompared to t the rest of thee year. The m mid‐year funddraising camp paign typically
y
only sees a 35% in ncrease in givving. This part ticular campa aign resulted in CaringBrid dge raising moore than $1.225 million.
CarinngBridge’s pro
ogram expenses make up the majority of its total o operating expenses. Since 2008, progra am expenses
as a percentage of total exp
penses have remained beetween 80% and 82%. However, m management and general
expenses dropped d as a percent tage of total expense from
m 15.6% in 20008 to 11.6% in 2011, whilee fundraising
g expenses as
a perrcentage of ttotal expense es increased ffrom 4.0% in 2008 to 6.5%
% in 2011. AAs the “You AAre Powerful” ” fundraising
camp paign was don ne entirely in‐house, this m
may account for the increaase in expens
se during this period.
Carin
ngBridge’s op
perating deficit in 2011 is not conce
erning as th organizatio carries $
he on $3.5 million in cash and
equiv
valents on its balance shee
et.
Revenue Bre
eakdown Expense Break
kdown
$ in MM
M $ in MM
Bene aringBridge are both the s
eficiaries of Ca site authors and the visitorrs who visit C
CaringBridge s
sites. In 2011
1, the increase
e
in cost per site cre
eated and cosst per unique visitor could be attributab crease in spen
ble to the inc nd mentioned d previously.
per Beneficiar
Cost p ry
2008 2009 2010 2011
Number of Sites Creeated 47,476 56,074 61,532 64,755
Number of Unique Visitors 26,086,174 35,678,506 44,310,999 43,278,224
Total Expenses $4,800,334 $5,135,311 $6,426,421 $9,203,860
Cost Per Site Create
ed $101.11 $91.58 $104.44 $142.13
Cost per Unique Vissitor $0.18 $0.14 $0.15 $0.21
Source
e: Management
CariingBridge | N
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6.
Detailed Financial Information
Fiscal Year Ended December 31 2008 2009 2010 2011
Revenue and Expenses (GAAP Accounting Basis)
Revenue and Other Support:
Contributions $4,574,978 $5,137,881 $7,367,031 $8,331,099
Donated Facilities and Equipment 67,820 21,241 3,156 3,379
Donated Services 283,951 219,001 264,098 259,976
Total Program Expenses 311,091 392,406 484,292 171,418
Interest Income 36,051 20,582 23,917 16,808
Other Income 3,881 20,010 19,861 25,190
Total Support and Revenues $5,277,772 $5,811,121 $8,162,355 $8,807,870
% Growth 10.1% 40.5% 7.9%
Expenses:
Program Services $3,862,901 $4,137,286 $5,172,161 $7,532,216
Supporting Services:
Management and General 746,752 775,676 949,385 1,069,021
Fundraising 190,681 222,349 304,875 602,623
Total Expenses: $4,800,334 $5,135,311 $6,426,421 $9,203,860
% of Revenue 91.0% 88.4% 78.7% 104.5%
Program Costs as a % of Total Expenses 80.5% 80.6% 80.5% 81.8%
Management & General as a % of Total Expenses 15.6% 15.1% 14.8% 11.6%
Fundraising as a % of Total Expenses 4.0% 4.3% 4.7% 6.5%
KEY BALANCE SHEET INFORMATION
Cash and Cash Equivalents $1,944,663 $2,366,560 $4,211,382 $3,479,056
Investments $0 $202,331 $204,008 $0
Total Assets $2,315,903 $2,937,970 $4,929,857 $4,122,360
Change in Assets $477,438 $675,810 $1,735,934 ($395,990)
Source: Audited Financials (GAAP Acccounting Basis)
CaringBridge | Nonprofit Investor Research 6

7. Functional Allocation of Expenses
Fiscal Year Ended December 31 2009 2010 2011
Program Expenses
Salaries & Wages $2,567,666 $2,952,664 $4,430,565
Non‐Compensation 1,569,620 2,219,497 3,101,651
Total Program Expenses $4,137,286 $5,172,161 $7,532,216
Management and General
Salaries & Wages $391,066 $565,674
Non‐Compensation 775,676 558,319 503,347
Total Management and General $775,676 $949,385 $1,069,021
Fundraising
Salaries & Wages $95,650 $197,013 $404,073
Total Fundraising 126,699 107,862 198,550
Fundraising $222,349 $304,875 $602,623
Total Expenses $5,135,311 $6,426,421 $9,203,860
Salaries & Wages as a % of total expenses 62.1% 57.1% 58.8%
Non‐Compensation as a % of total expenses 37.9% 42.9% 41.2%
Source: Audited Financials
OTHER THIRD PARTY RATINGS
Charity Navigator
 Overall rating of 66.86 (out of 70.00) / 4 stars (out of 4)
GreatNonprofits
 Average rating of 5 out of 5 stars based on two user reviews
CaringBridge is not currently covered by Philanthropedia or Givewell.
GET INVOLVED
 Volunteer by sharing, volunteering, connecting or and/or hosting: http://amplifierhub.caringbridge.org/
 Donate: http://www.caringbridge.org/waystogive
 Partner: http://www.caringbridge.org/partners
CaringBridge | Nonprofit Investor Research 7

8. DISCLOSURES
Ruth Yen certifies that she does not have any affiliation with CaringBridge and has never made a donation to the organization.
Additionally, Ruth has not supported directly competing organizations in a greater capacity than a nominal donation. NPI analysts
and NPI as an organization do not receive any form of compensation from reviewed charities.
This report is for informational purposes only and does not constitute a solicitation for donations. While the reliability of information
contained in this report has been assessed by NPI, NPI makes no representation as to its accuracy or completeness, except with
respect to the Disclosure Section of the report. Any opinions expressed herein reflect our judgment as of the date of the materials
and are subject to change without notice. NPI has no obligation to update, modify or amend any report or to otherwise notify a
reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes
or subsequently becomes inaccurate, or if research on the subject organization is withdrawn.
Opinions and recommendations in our reports do not take into account specific reader circumstances, objectives, or needs. The
recipients of our reports must make their own independent decisions regarding any organization mentioned by NPI.
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CaringBridge | Nonprofit Investor Research 8