Mt Carmel Redevelopment Corporation Inc

Analysis

Mt Carmel Redevelopment Corporation Inc is a registered charity in United States, based in Kansas City, KS. It received its IRS tax-exemption ruling in July 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Mt Carmel Redevelopment Corporation Inc reported income of $1.1m and spending of $970k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $484k to $1.1m (+136%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mt Carmel Redevelopment Corporation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within KS. Charities of a similar size with the same main cause include Kingston City Land Bank ($1.1m), Encino Terrace Inc ($1.1m) and Northwest Side CDC ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.9% of the total. Compensation of current officers, directors and key employees was $144k (15% of expenses). Other salaries and wages came to $308k. It paid $34k in professional fundraising fees. At year end it held assets of $2.5m against liabilities of $753k, net assets of $1.7m. It reported 11 employees.