The Carmelite System Inc
Carmelite System Inc. shows consistent revenue growth and no reported officer compensation, maintaining a healthy financial surplus in recent years.
EIN: 141810368 · Germantown, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.3M |
| Total Expenses | $7.4M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $9.6M |
| Transparency Score | 90/100 |
Is The Carmelite System Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Carmelite System Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Carmelite System Inc
The Carmelite System Inc (EIN: 141810368) is a nonprofit organization based in Germantown, NY. The organization reported total revenue of $10.3M and total assets of $19.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Carmelite System Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Carmelite System Inc is a large nonprofit that has been operating for 80 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 16.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.6M |
| Total Expenses | $7.4M |
| Surplus / Deficit | +$3.3M |
| Total Assets | $21.3M |
| Total Liabilities | $11.7M |
| Net Assets | $9.6M |
| Operating Margin | 30.7% |
| Debt-to-Asset Ratio | 55.0% |
| Months of Reserves | 34.7 months |
Financial Health Grade: A
In 2023, The Carmelite System Inc reported a surplus of $3.3M with revenue exceeding expenses, holds 34.7 months of operating reserves (strong position), has a debt-to-asset ratio of 55.0% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), The Carmelite System Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.9% | +2.1% | +24.9% |
| 2022 | +19.1% | -26.0% | -1.1% |
| 2021 | +75.6% | +21.2% | -18.5% |
| 2020 | +6.3% | +14.2% | +126.6% |
| 2019 | +12.8% | +37.8% | +9.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 1946 |
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 The Carmelite System Inc with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, The Carmelite System Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $3.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 55.0%.
Executive Compensation Analysis
The Carmelite System Inc. consistently reports 0% officer compensation across all 14 available filings, indicating that no portion of its revenue is allocated to executive salaries. This is a highly positive indicator, suggesting that all funds are directed towards the organization's operational and programmatic goals, especially for an organization with over $10 million in annual revenue.
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 The Carmelite System Inc's IRS 990 filings:
- Significant fluctuations in liabilities, peaking at $18,875,793 in 2020, warrant further investigation into their nature and management.
Strengths
The following positive indicators were identified for The Carmelite System Inc:
- Consistent revenue growth, with 2023 revenue at $10,638,217.
- Healthy financial surplus in recent years, with $3,271,045 in 2023.
- 0% reported officer compensation across all 14 filings, indicating strong resource allocation to mission.
- Growing asset base, reaching $21,274,263 in 2023, providing financial stability.
- Consistent IRS 990 filing history, demonstrating transparency.
Frequently Asked Questions about The Carmelite System Inc
Is The Carmelite System Inc a legitimate charity?
The Carmelite System Inc (EIN: 141810368) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 14 years of IRS 990 filings on record. Total revenue: $10.3M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does The Carmelite System Inc spend its money?
The Carmelite System Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to The Carmelite System Inc tax-deductible?
The Carmelite System Inc is registered as a tax-exempt nonprofit (EIN: 141810368). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Carmelite System Inc CEO make?
The Carmelite System Inc's highest-compensated officer earns $10 annually. The organization reported $10.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Carmelite System Inc's spending goes to programs?
The Carmelite System Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is The Carmelite System Inc located?
The Carmelite System Inc is headquartered in Germantown, New York and files with the IRS under EIN 141810368.
How many years of IRS 990 filings does The Carmelite System Inc have?
The Carmelite System Inc has 14 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 $10.3M in total revenue.
Is The Carmelite System Inc. a good charity?
Based on the available financial data, The Carmelite System Inc. appears to be a well-managed charity. It consistently generates significant revenue, maintains a healthy surplus in recent years (e.g., $3,271,045 in 2023), and notably reports 0% officer compensation, indicating a strong commitment to its mission.
How has The Carmelite System Inc.'s financial health changed over time?
The organization has shown significant financial growth and stabilization. Revenue has more than doubled from $4,553,853 in 2018 to $10,638,217 in 2023. While there were periods where expenses exceeded revenue (e.g., 2019-2021), the organization has consistently generated surpluses in the most recent years (2022 and 2023), strengthening its asset base.
What is the trend in The Carmelite System Inc.'s assets and liabilities?
Assets have shown a strong upward trend, increasing from $8,559,209 in 2018 to $21,274,263 in 2023. Liabilities have fluctuated significantly, peaking at $18,875,793 in 2020, but have since decreased to $11,694,033 in 2023, maintaining a healthy net asset position where assets comfortably exceed liabilities.
Filing History
IRS 990 filing history for The Carmelite System Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), The Carmelite System Inc's revenue has grown by 592.2%, moving from $1.5M to $10.6M. Total assets increased by 1405% over the same period, from $1.4M to $21.3M. Total functional expenses rose by 375.8%, from $1.5M to $7.4M. In its most recent filing year (2023), The Carmelite System Inc reported a surplus of $3.3M, with revenue exceeding expenses. The organization holds $11.7M in liabilities against $21.3M in assets (debt-to-asset ratio: 55.0%), resulting in net assets of $9.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10.6M | $7.4M | $21.3M | $11.7M | — | — |
| 2022 | $11.4M | $7.2M | $17.0M | $10.7M | — | View 990 |
| 2021 | $9.6M | $9.7M | $17.2M | $15.1M | — | View 990 |
| 2020 | $5.5M | $8.0M | $21.1M | $18.9M | — | View 990 |
| 2019 | $5.1M | $7.0M | $9.3M | $4.5M | — | View 990 |
| 2018 | $4.6M | $5.1M | $8.6M | $2.5M | — | View 990 |
| 2017 | $3.5M | $4.4M | $8.5M | $1.8M | — | View 990 |
| 2016 | $4.4M | $4.2M | $8.5M | $2.0M | — | View 990 |
| 2015 | $2.5M | $2.9M | $8.5M | $3.9M | — | View 990 |
| 2014 | $5.1M | $2.2M | $7.4M | $2.7M | — | View 990 |
| 2013 | $2.5M | $1.8M | $2.4M | $2.2M | — | View 990 |
| 2012 | $1.5M | $1.6M | $2.8M | $1.9M | — | View 990 |
| 2011 | $1.6M | $1.5M | $2.8M | $1.9M | — | View 990 |
| 2010 | $1.5M | $1.5M | $1.4M | $729K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.6M, expenses of $7.4M, and assets of $21.3M (revenue -6.9% year-over-year).
- 2022: Revenue of $11.4M, expenses of $7.2M, and assets of $17.0M (revenue +19.1% year-over-year).
- 2021: Revenue of $9.6M, expenses of $9.7M, and assets of $17.2M (revenue +75.6% year-over-year).
- 2020: Revenue of $5.5M, expenses of $8.0M, and assets of $21.1M (revenue +6.3% year-over-year).
- 2019: Revenue of $5.1M, expenses of $7.0M, and assets of $9.3M (revenue +12.8% year-over-year).
- 2018: Revenue of $4.6M, expenses of $5.1M, and assets of $8.6M (revenue +28.4% year-over-year).
- 2017: Revenue of $3.5M, expenses of $4.4M, and assets of $8.5M (revenue -19.4% year-over-year).
- 2016: Revenue of $4.4M, expenses of $4.2M, and assets of $8.5M (revenue +72.5% year-over-year).
- 2015: Revenue of $2.5M, expenses of $2.9M, and assets of $8.5M (revenue -50.4% year-over-year).
- 2014: Revenue of $5.1M, expenses of $2.2M, and assets of $7.4M (revenue +107.2% year-over-year).
- 2013: Revenue of $2.5M, expenses of $1.8M, and assets of $2.4M (revenue +60.0% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.6M, and assets of $2.8M (revenue -2.5% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.5M, and assets of $2.8M (revenue +3.5% year-over-year).
- 2010: Revenue of $1.5M, expenses of $1.5M, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Carmelite System Inc:
Data Sources and Methodology
This transparency report for The Carmelite System 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.