Carmel Hills Retirement Comm

Analysis

Carmel Hills Retirement Comm is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 1978, 48 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 April 2024, Carmel Hills Retirement Comm reported income of $4.0m and spending of $3.7m, spending 93% of its income. Across the 5 years on record, from April 2020 to April 2024, income grew from $3.1m to $4.0m (+30%), an average of +6.7% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carmel Hills Retirement Comm sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Baptist Health Enriched Housing Program Inc ($4.0m), Eatontown Senior Housing Corporatio ($4.0m) and Little Earth of United Tribes Housing Corporation ($4.0m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 9.1% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $102k (2.7% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $3.4m against liabilities of $2.6m, net assets of $831k. It reported 74 employees.