Mount Carmel Housing Inc
Mount Carmel Housing Inc: Declining Assets and Unclear Mission Focus
EIN: 222809776 · Worcester, MA · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.6M |
| Total Expenses | $1.4M |
| Net Assets | $-2,427,520 |
| Transparency Score | 45/100 |
Is Mount Carmel Housing Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Mount Carmel Housing Inc
Mount Carmel Housing Inc (EIN: 222809776) is a nonprofit organization based in Worcester, MA. The organization reported total revenue of $1.6M and total assets of $2.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mount Carmel Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mount Carmel Housing Inc is a mid-size nonprofit that has been operating for 37 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-169,165 |
| Total Assets | $2.7M |
| Total Liabilities | $5.1M |
| Net Assets | $-2,427,520 |
| Operating Margin | -13.5% |
| Debt-to-Asset Ratio | 191.0% |
| Months of Reserves | 22.5 months |
Financial Health Grade: C
In 2024, Mount Carmel Housing Inc reported a deficit of $169K with expenses exceeding revenue, holds 22.5 months of operating reserves (strong position), has a debt-to-asset ratio of 191.0% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), Mount Carmel Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +5.4% | +5.0% | -7.0% |
| 2023 | -3.2% | +3.8% | -7.5% |
| 2022 | +0.6% | +0.7% | -6.1% |
| 2021 | +3.0% | +1.2% | -4.2% |
| 2020 | +2.0% | +7.4% | -4.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
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 Mount Carmel Housing Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Mount Carmel Housing Inc allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $169K, with expenses exceeding revenue.
- Debt-to-asset ratio: 191.0%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific compensation figures for key employees are provided in the available data.
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 Mount Carmel Housing Inc's IRS 990 filings:
- Total assets have consistently declined from $3,892,974 in 2017 to $2,631,218 in 2024, indicating a significant reduction in organizational capacity.
- The absence of any reported program expenses in the provided data raises serious questions about the organization's operational activities and direct impact.
- The lack of a clear mission statement or program descriptions makes it difficult to understand the organization's purpose and effectiveness.
- The organization consistently reports 0% for 'c' (likely compensation or program spending percentage) across all years, which is highly unusual for a functioning nonprofit.
Strengths
The following positive indicators were identified for Mount Carmel Housing Inc:
- The organization has maintained a consistent revenue stream over the past several years, averaging around $1.1 million annually.
Frequently Asked Questions about Mount Carmel Housing Inc
Is Mount Carmel Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Mount Carmel Housing Inc (EIN: 222809776) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does Mount Carmel Housing Inc spend its money?
Detailed spending breakdown data is not yet available for Mount Carmel Housing Inc. Check back for updated IRS 990 analysis.
Are donations to Mount Carmel Housing Inc tax-deductible?
Mount Carmel Housing Inc is registered as a tax-exempt nonprofit (EIN: 222809776). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Mount Carmel Housing Inc located?
Mount Carmel Housing Inc is headquartered in Worcester, Massachusetts and files with the IRS under EIN 222809776.
How many years of IRS 990 filings does Mount Carmel Housing Inc have?
Mount Carmel Housing Inc has 13 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 $1.6M in total revenue.
What does Mount Carmel Housing Inc do?
Mount Carmel Housing Inc is a nonprofit organization in the Unknown sector, located in Worcester, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Mount Carmel Housing Inc have?
Mount Carmel Housing Inc reported total revenue of $1,589,711. Based on 13 IRS 990 filings on record.
What are Mount Carmel Housing Inc's total assets?
Mount Carmel Housing Inc holds total assets of $2,631,218 as reported in IRS 990 filings.
Where is Mount Carmel Housing Inc located?
Mount Carmel Housing Inc is based in Worcester, Massachusetts.
What is Mount Carmel Housing Inc's EIN?
Mount Carmel Housing Inc's Employer Identification Number (EIN) is 222809776. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Mount Carmel Housing Inc?
Mount Carmel Housing Inc is classified under NTEE code Unknown (Unknown).
Is Mount Carmel Housing Inc a registered 501(c)(3)?
Mount Carmel Housing Inc appears in IRS records (EIN: 222809776). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Mount Carmel Housing Inc file IRS Form 990?
Yes, Mount Carmel Housing Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Mount Carmel Housing Inc's revenue in 2024?
In the 202406 filing period, Mount Carmel Housing Inc reported total revenue of $1,251,194, total expenses of $1,420,359, and net assets of $2,667,651.
Is Mount Carmel Housing Inc's revenue growing or declining?
Mount Carmel Housing Inc's revenue is growing. Revenue went from $1,187,244 (202306) to $1,251,194 (202406), a +5.4% change. Based on 13 filings on record.
What is Mount Carmel Housing Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Mount Carmel Housing Inc covers tax period 202406. It shows revenue of $1,251,194, expenses of $1,420,359, total assets of $2,667,651, and liabilities of $5,095,171.
Is Mount Carmel Housing Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Mount Carmel Housing Inc shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for Mount Carmel Housing Inc?
The following concerns were identified: Total assets have consistently declined from $3,892,974 in 2017 to $2,631,218 in 2024, indicating a significant reduction in organizational capacity.. The absence of any reported program expenses in the provided data raises serious questions about the organization's operational activities and direct impact.. The lack of a clear mission statement or program descriptions makes it difficult to understand the organization's purpose and effectiveness.. The organization consistently reports 0% for 'c' (likely compensation or program spending percentage) across all years, which is highly unusual for a functioning nonprofit.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Mount Carmel Housing Inc's strengths?
Positive indicators for Mount Carmel Housing Inc include: The organization has maintained a consistent revenue stream over the past several years, averaging around $1.1 million annually.. These findings are derived from AI analysis of the organization's financial filings.
How does Mount Carmel Housing Inc compensate executives?
Executive compensation cannot be assessed as no specific compensation figures for key employees are provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent decline in assets and the absence of reported program expenses, what are the primary activities and long-term sustainability plan for Mount Carmel Housing Inc?
Without detailed expense breakdowns and program descriptions, it's unclear how the organization is utilizing its revenue and what its core operations entail, raising concerns about its future viability as a housing provider.
Filing History
IRS 990 filing history for Mount Carmel Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Mount Carmel Housing Inc's revenue has grown by 17.1%, moving from $1.1M to $1.3M. Total assets decreased by 42% over the same period, from $4.6M to $2.7M. Total functional expenses rose by 18.1%, from $1.2M to $1.4M. In its most recent filing year (2024), Mount Carmel Housing Inc reported a deficit of $169K, with expenses exceeding revenue. The organization holds $5.1M in liabilities against $2.7M in assets (debt-to-asset ratio: 191.0%), resulting in net assets of $-2,427,520.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.3M | $1.4M | $2.7M | $5.1M | — | View 990 |
| 2023 | $1.2M | $1.4M | $2.9M | $5.1M | — | View 990 |
| 2022 | $1.2M | $1.3M | $3.1M | $5.2M | — | View 990 |
| 2021 | $1.2M | $1.3M | $3.3M | $5.3M | — | — |
| 2020 | $1.2M | $1.3M | $3.4M | $5.4M | — | View 990 |
| 2019 | $1.2M | $1.2M | $3.6M | $5.5M | — | View 990 |
| 2018 | $1.1M | $1.2M | $3.7M | $5.5M | — | — |
| 2017 | $1.1M | $1.3M | $3.9M | $5.7M | — | View 990 |
| 2016 | $1.3M | $1.2M | $4.1M | $5.7M | — | View 990 |
| 2015 | $1.2M | $1.2M | $4.1M | $5.8M | — | View 990 |
| 2014 | $1.1M | $1.2M | $4.3M | $5.8M | — | View 990 |
| 2013 | $1.1M | $1.1M | $4.4M | $5.9M | — | View 990 |
| 2012 | $1.1M | $1.2M | $4.6M | $6.0M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.3M, expenses of $1.4M, and assets of $2.7M (revenue +5.4% year-over-year).
- 2023: Revenue of $1.2M, expenses of $1.4M, and assets of $2.9M (revenue -3.2% year-over-year).
- 2022: Revenue of $1.2M, expenses of $1.3M, and assets of $3.1M (revenue +0.6% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.3M, and assets of $3.3M (revenue +3.0% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.3M, and assets of $3.4M (revenue +2.0% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.2M, and assets of $3.6M (revenue +1.3% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.2M, and assets of $3.7M (revenue +0.5% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.3M, and assets of $3.9M (revenue -10.7% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.2M, and assets of $4.1M (revenue +8.7% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.2M, and assets of $4.1M (revenue +7.1% year-over-year).
- 2014: Revenue of $1.1M, expenses of $1.2M, and assets of $4.3M (revenue +1.7% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.1M, and assets of $4.4M (revenue +0.9% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.2M, and assets of $4.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mount Carmel Housing Inc:
Data Sources and Methodology
This transparency report for Mount Carmel Housing Inc 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.