Mt Carmel Veterans Service Center

Analysis

Mt Carmel Veterans Service Center is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 March 2023, Mt Carmel Veterans Service Center reported income of $3.4m and spending of $3.3m, spending 98% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $1.7m to $3.4m (+101%), an average of +19% a year. The sharpest change came in the year to March 2021, when income rose by 55%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Mt Carmel Veterans Service Center sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within CO. Charities of a similar size with the same main cause include Cleveland Vocational Industries ($3.4m), Region VI Workforce Investment Board Inc ($3.4m) and Southwest Minnesota Private Industry Council Inc ($3.4m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 95% and program service revenue 7.7% of the total. Other salaries and wages came to $1.7m. It paid $45k in professional fundraising fees. At year end it held assets of $2.4m against liabilities of $714k, net assets of $1.6m. It reported 62 employees.