Carmel Hill Fund
Carmel Hill Fund maintains substantial assets and minimal liabilities, with highly variable revenue and consistent expenses, reporting zero officer compensation.
EIN: 136881103 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $176.1M |
| Total Expenses | $16.7M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $400 |
| Net Assets | $401.0M |
| Transparency Score | 85/100 |
Is Carmel Hill Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carmel Hill Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carmel Hill Fund
Carmel Hill Fund (EIN: 136881103) is a nonprofit organization based in New York, NY. The organization reported total revenue of $176.1M and total assets of $433.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carmel Hill Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carmel Hill Fund is a major nonprofit that has been operating for 39 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -14.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.3M |
| Total Expenses | $16.7M |
| Surplus / Deficit | $-6,374,450 |
| Total Assets | $401.0M |
| Total Liabilities | $1 |
| Net Assets | $401.0M |
| Operating Margin | -61.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 288.5 months |
Financial Health Grade: B
In 2023, Carmel Hill Fund reported a deficit of $6.4M with expenses exceeding revenue, holds 288.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Carmel Hill Fund's revenue has declined at a compound annual growth rate (CAGR) of -14.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.3% | -29.6% | -1.6% |
| 2022 | -77.6% | +18.8% | -2.4% |
| 2021 | +32.8% | +9.5% | +8.6% |
| 2020 | +11.7% | +36.0% | +1.5% |
| 2019 | -18.7% | -23.9% | +48.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Carmel Hill Fund with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Carmel Hill Fund allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $6.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is highly unusual for an organization of this size with assets exceeding $400 million. This suggests either an entirely volunteer-led executive team or that compensation is structured in a way that is not reported as officer compensation on the 990.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Carmel Hill Fund's IRS 990 filings:
- Highly variable revenue, making financial forecasting challenging without further detail
- Lack of detailed spending breakdown (program, admin, fundraising) in provided data
- Unusually low reported liabilities ($0 or $1) which might mask certain financial structures
Strengths
The following positive indicators were identified for Carmel Hill Fund:
- Exceptional financial stability with assets consistently over $400 million
- Minimal liabilities ($0 or $1) indicating very low debt burden
- Consistent reporting of 0% officer compensation, suggesting efficient use of funds or volunteer leadership
- Long history of IRS 990 filings demonstrating transparency
Frequently Asked Questions about Carmel Hill Fund
Is Carmel Hill Fund a legitimate charity?
Carmel Hill Fund (EIN: 136881103) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $176.1M. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Carmel Hill Fund spend its money?
Carmel Hill Fund directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Carmel Hill Fund tax-deductible?
Carmel Hill Fund is registered as a tax-exempt nonprofit (EIN: 136881103). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Carmel Hill Fund CEO make?
Carmel Hill Fund's highest-compensated officer earns $400 annually. The organization reported $176.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Carmel Hill Fund's spending goes to programs?
Carmel Hill Fund directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Carmel Hill Fund located?
Carmel Hill Fund is headquartered in New York, New York and files with the IRS under EIN 136881103.
How many years of IRS 990 filings does Carmel Hill Fund have?
Carmel Hill Fund has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $176.1M in total revenue.
How does Carmel Hill Fund manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with assets over $400 million. This could indicate that executive leadership is entirely volunteer-based, compensated through a related entity, or that compensation is structured in a way that is not categorized as 'officer compensation' on the IRS Form 990.
What is the primary source of Carmel Hill Fund's revenue given its variability?
The significant variability in revenue, ranging from $10.3 million in 2023 to $176 million in the latest period, suggests that the fund may rely heavily on investment returns, large one-time donations, or a combination of both, rather than consistent program service fees or public support.
How does Carmel Hill Fund sustain its operations when expenses exceed revenue, as seen in 2023 and 2022?
In periods where expenses ($16.6M in 2023, $23.6M in 2022) exceed revenue ($10.3M in 2023, $11.8M in 2022), Carmel Hill Fund likely draws upon its substantial asset base, which consistently exceeds $400 million, to cover operational costs and continue its philanthropic activities.
Filing History
IRS 990 filing history for Carmel Hill Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Carmel Hill Fund's revenue has declined by 85.2%, moving from $69.6M to $10.3M. Total assets increased by 109.9% over the same period, from $191.1M to $401.0M. Total functional expenses fell by 11.4%, from $18.8M to $16.7M. In its most recent filing year (2023), Carmel Hill Fund reported a deficit of $6.4M, with expenses exceeding revenue. The organization holds $1 in liabilities against $401.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $401.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10.3M | $16.7M | $401.0M | $1 | — | View 990 |
| 2022 | $11.9M | $23.7M | $407.4M | $1 | — | View 990 |
| 2021 | $52.9M | $19.9M | $417.5M | $1 | — | View 990 |
| 2020 | $39.9M | $18.2M | $384.5M | $1 | — | View 990 |
| 2019 | $35.7M | $13.4M | $378.9M | $1 | — | View 990 |
| 2015 | $43.9M | $17.6M | $254.7M | $1 | — | View 990 |
| 2014 | $25.2M | $14.6M | $230.6M | $1 | — | View 990 |
| 2013 | $15.8M | $20.0M | $216.1M | $1 | — | View 990 |
| 2012 | $33.5M | $18.0M | $217.3M | $0 | — | View 990 |
| 2011 | $69.6M | $18.8M | $191.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.3M, expenses of $16.7M, and assets of $401.0M (revenue -13.3% year-over-year).
- 2022: Revenue of $11.9M, expenses of $23.7M, and assets of $407.4M (revenue -77.6% year-over-year).
- 2021: Revenue of $52.9M, expenses of $19.9M, and assets of $417.5M (revenue +32.8% year-over-year).
- 2020: Revenue of $39.9M, expenses of $18.2M, and assets of $384.5M (revenue +11.7% year-over-year).
- 2019: Revenue of $35.7M, expenses of $13.4M, and assets of $378.9M (revenue -18.7% year-over-year).
- 2015: Revenue of $43.9M, expenses of $17.6M, and assets of $254.7M (revenue +74.1% year-over-year).
- 2014: Revenue of $25.2M, expenses of $14.6M, and assets of $230.6M (revenue +59.3% year-over-year).
- 2013: Revenue of $15.8M, expenses of $20.0M, and assets of $216.1M (revenue -52.7% year-over-year).
- 2012: Revenue of $33.5M, expenses of $18.0M, and assets of $217.3M (revenue -51.9% year-over-year).
- 2011: Revenue of $69.6M, expenses of $18.8M, and assets of $191.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carmel Hill Fund:
Data Sources and Methodology
This transparency report for Carmel Hill Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.