Carmel Assistance & Relief for Employees Fund

Analysis

Carmel Assistance & Relief for Employees Fund is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in July 2014, 12 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 September 2023, Carmel Assistance & Relief for Employees Fund reported income of $243k and spending of $109k, leaving 55% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $249k to $243k (-2.3%), an average of -0.6% a year. The sharpest change came in the year to September 2022, when income dropped by 136%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carmel Assistance & Relief for Employees Fund sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NC. Charities of a similar size with the same main cause include Van Wert High School Athletic Boosters Inc ($243k), Raymond Library Co ($243k) and Twilight Park Camp Inc ($243k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $351k against liabilities of $327, net assets of $351k.