Mount Carmel Housing Inc

Analysis

Mount Carmel Housing Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in May 1989, 37 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Mount Carmel Housing Inc reported income of $1.3m and spending of $1.4m, spending 114% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.2m to $1.3m (+5.7%), an average of +1.4% a year. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mount Carmel Housing Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Supporting People in Need ($1.3m), E M Jellinek Center Inc ($1.3m) and Silver Spring Ambulance and Rescue Association ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $246k. At year end it held assets of $2.7m against liabilities of $5.1m, net assets of -$2.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.