Mount Carmel College of Nursing

Analysis

Mount Carmel College of Nursing is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in September 1991, 35 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mount Carmel College of Nursing reported income of $20.8m and spending of $22.7m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $24.4m to $20.8m (-15%), an average of -4.0% a year. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mount Carmel College of Nursing sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within OH. Charities of a similar size with the same main cause include Institute for Medical Research Inc ($20.8m), Westbay Community Action Inc ($20.8m) and Bellevue Christian School ($20.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 73% of the total. Other salaries and wages came to $10.6m. At year end it held assets of $52.0m against liabilities of $3.9m, net assets of $48.2m.

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.