Carmel Educational Foundation

Analysis

Carmel Educational Foundation is a registered charity in United States, based in Matthews, NC. It received its IRS tax-exemption ruling in February 2000, 26 years ago. Its declared purposes cover education, which this site groups under education and training. 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 July 2023, Carmel Educational Foundation reported income of $806k and spending of $329k, leaving 59% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income fell from $924k to $806k (-13%), an average of -3.3% a year. The sharpest change came in the year to July 2020, when income dropped by 51%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carmel Educational Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Public Charter Schools of New Mexico ($806k), Paul B Sharar Foundation for Clinton Campus ($806k) and Old Lyme-Phoebe Griffin Noyes Library Assn ($806k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 34% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.