Mount Carmel Guild Education

Analysis

Mount Carmel Guild Education is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in March 1946, 80 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 2023, Mount Carmel Guild Education reported income of $6.3m and spending of $6.3m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.1m to $6.3m (+24%), an average of +5.6% a year. The sharpest change came in the year to June 2020, when income rose by 17%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mount Carmel Guild Education sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Challenger Center for Space Science Education ($6.3m), Apano Communities United Fund ($6.3m) and National Wic Association ($6.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $471k (7.5% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $4.0m against liabilities of $3.2m, net assets of $813k. It reported 80 employees.