Mt Carmel Educational Foundation Inc

Analysis

Mt Carmel Educational Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1982, 44 years ago. 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 June 2023, Mt Carmel Educational Foundation Inc reported income of $1.4m and spending of $157k, leaving 89% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $793k to $1.4m (+78%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 94%. Over the whole period it spent 42% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mt Carmel Educational Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within IL. Charities of a similar size with the same main cause include Southwest Chapter of the Alabama Coalition of Citizens with ($1.4m), Warriors Homes of Collier Inc ($1.4m) and Reaching Our Sisters Everywhere Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% of the total. At year end it held assets of $13.2m against liabilities of $160k, net assets of $13.0m.