Mt Carmel Area Industrial Development Committee

Analysis

Mt Carmel Area Industrial Development Committee is a registered charity in United States, based in Mount Carmel, IL. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mt Carmel Area Industrial Development Committee reported income of $130k and spending of $122k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $138k to $130k (-6.2%), an average of -1.6% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mt Carmel Area Industrial Development Committee sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 45th percentile within IL. Charities of a similar size with the same main cause include Kane Area Community Center Inc ($130k), Dome District Business Association Inc ($130k) and Wausau River District Inc ($130k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $40k (32% of expenses). At year end it held assets of $482k against liabilities of $2,800, net assets of $479k.