Carmel Prayer Tower Inc

Analysis

Carmel Prayer Tower Inc is a registered charity in United States, based in Bonita SPGS, FL. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2022, Carmel Prayer Tower Inc reported income of $102k and spending of $174k, spending 170% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $194k to $102k (-48%), an average of -19% a year. The sharpest change came in the year to December 2022, when income rose by 364%. Over the whole period it spent 186% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Carmel Prayer Tower Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 41st percentile within FL. Charities of a similar size with the same main cause include Charleston Port & Seafarers Society ($102k), Power of Love Church ($102k) and One Love Skate ($102k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $3.8m against liabilities of $0, net assets of $3.8m.