Carmel Residence Inc

Analysis

Carmel Residence Inc is a registered charity in United States, based in Oshkosh, WI. It received its IRS tax-exemption ruling in April 1988, 38 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Carmel Residence Inc reported income of $1000k and spending of $974k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $753k to $1000k (+33%), an average of +7.4% a year. The sharpest change came in the year to December 2022, when income rose by 24%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carmel Residence Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within WI. Charities of a similar size with the same main cause include Walker Non-Profit Housing Corporation ($1000k), Habitat for Humanity International Inc ($1.0m) and Rebuilding Together of Greater Charlotte Inc ($1000k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.8% and program service revenue 93% of the total. Other salaries and wages came to $299k. At year end it held assets of $4.1m against liabilities of $2.9m, net assets of $1.2m.