Carmel Chamber of Commerce Foundation

Analysis

Carmel Chamber of Commerce Foundation is a registered charity in United States, based in Carmel by the, CA. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, 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 December 2023, Carmel Chamber of Commerce Foundation reported income of $52k and spending of $37k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2021 to December 2023, income fell from $109k to $52k (-52%), an average of -52% a year. The sharpest change came in the year to December 2023, when income dropped by 52%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carmel Chamber of Commerce Foundation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within CA. Charities of a similar size with the same main cause include Frankfort Main Street Inc ($52k), Blairstown Economic Enhancement Committee ($52k) and Town of Bath Cemetery Managementand Maintenance Incorporated ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. At year end it held assets of $60k against liabilities of $0, net assets of $60k.