Carmel-Clay Educational Foundation Inc

Analysis

Carmel-Clay Educational Foundation Inc is a registered charity in United States, based in Carmel, IN. It received its IRS tax-exemption ruling in August 1967, 59 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Carmel-Clay Educational Foundation Inc reported income of $367k and spending of $382k, spending 104% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $299k to $367k (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2023, when income rose by 134%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carmel-Clay Educational Foundation Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within IN. Charities of a similar size with the same main cause include Reinlaender Mennonite School West Side Inc ($367k), Monte Cassino Charitable Trust ($367k) and Dream N Achieve Inc ($367k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% of the total. Compensation of current officers, directors and key employees was $85k (22% of expenses). Other salaries and wages came to $44k. At year end it held assets of $2.2m against liabilities of $9,786, net assets of $2.2m. It reported 7 employees.

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.