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Mt Carmel Educational Foundation INC FY2021 filing

Tax-deductible

Chicago, IL501(c)(3)Since 1982 EIN 36-3225194Revenue $1.2M in FY2021

On file with the IRSmchs.org6428 S Dante Ave, 60637-3810 · Chicago, ILTax-exempt since May 1982Publicly supported charity — 170(b)(1)(A)(vi)

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Support the charitable, religious, and Educational purposes of mount Carmel high school by securing and investing financial contributions that will ensure the future financial stability of the school.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $998K a year · 56% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Plus $12.1M in investments, Pt X · Ln 11–13
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$738K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 8 voting members
Looks good: 5 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$534K
To programs
91%
Net assets
$12.2M
By yearFY2021–FY2025
Revenue
$1.2M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$1.2M
FY2022$2.4M
FY2023$1.4M
FY2024$1.7M
FY2025$2.2M
Expenses
$534K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$534K
FY2022$559K
FY2023$157K
FY2024$67K
FY2025$2.6M
Net assets
$12.2M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$12.2M
FY2022$11.3M
FY2023$13.0M
FY2024$14.1M
FY2025$13.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1982.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $485K Fundraising 9% · $49K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Dave Novosel
Director
$0Pt VII · Sec A
Don Barry
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Mulherin
President
$0Pt VII · Sec A
Thomas Gibbs
Secretary
$0Pt VII · Sec A
Robert Murphy
Treasurer
$0Pt VII · Sec A
See Mt Carmel Educational Foundation INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Secures and invests funds to support Mount Carmel High School's future.

Questions for Mt Carmel Educational Foundation INC

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1 program · $485K · in their own filed words · FY2020
01

Support the charitable, religious, and educational purposes of mount carmel high school.

$485Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
National Philanthropic TrustFY2023$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 2 grants · $91K · 2020–2021
Unitemized GrantFY2021$56,600
Unitemized GrantFY2020$34,750

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Investment incomeLn 3$1.0M
Gifts and grantsLn 1h$175K
Other incomeLn 4–11$5K
Money outPt IX
$534K
Ln 25
Programscol B$485K
Fundraisingcol D$49K
Owns and owesPt X
$12.2M
net assets · Ln 32
Cash and savingsLn 1–2$480K
Total assetsLn 16$13.0M
LiabilitiesLn 26$738K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$175K
Investment incomeLn 3$1.0M
Other incomeLn 4–11$5K
Gains on assetsLn 7$626K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$480K
Cash and savings togetherLn 1–2$480K
InvestmentsLn 11–13$12.1M
Other assetsLn 15$349K
Total assetsLn 16$13.0M
LiabilitiesLn 26$738K
Net assetsLn 32$12.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$57K$480K
InvestmentsLn 11–13$9.7M$12.1M
Total assetsLn 16$10.1M$13.0M
LiabilitiesLn 26$333K$738K
Net assetsLn 32$9.7M$12.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$35K$35K
Payments to affiliatesLn 21$450K$450K
Other expenses (24a–d)Ln 24$49K$49K
Total functional expensesLn 25$534K$485K$0$49K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$2.6M−$363K$13.7M 990 PDF
FY2024Filed with the IRS May 14, 2025 $1.7M$67K$1.6M$14.1M 990 PDF
FY2023Filed with the IRS May 10, 2024 $1.4M$157K$1.3M$13.0M 990 PDF
FY2022Filed with the IRS May 15, 2023 $2.4M$559K$1.8M$11.3M 990 PDF
FY2021 ViewingFiled with the IRS May 10, 2022 $1.2M$534K$683K$12.2M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $1,217,233 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $568,265$174,687
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $224,747$1,037,326
I-11 Other revenuePrior year $0$5,220
I-12 Total revenuePrior year $793,012$1,217,233
I-13 Grants and similar amounts paidPrior year $0$34,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $260,511$0
I-17 Other expensesPrior year $948,000$499,402
I-18 Total expensesPrior year $1,208,511$534,152
I-19 Revenue less expensesPrior year −$415,499$683,081
Part VI · Governance 5 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,217,233 across 6 lines filed
VIII-1f All other contributions, gifts and grants$174,687
VIII-1h Total contributions, gifts and grants$174,687
VIII-3 Investment incomeExcluded from tax $411,163$411,163
VIII-7 Net gain or loss on sales of assetsExcluded from tax $626,163$626,163
VIII-8 Net income from fundraising eventsExcluded from tax $5,220$5,220
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,042,546$1,217,233
Part IX · Statement of functional expenses $534,152 across 3 lines filed
IX-2 Grants to domestic individualsPrograms $34,750$34,750
IX-21 Payments to affiliatesPrograms $450,250$450,250
IX-24 Other expenses (24a–d)Fundraising $49,152$49,152
IX-25 Total functional expensesPrograms $485,000 · Management $0 · Fundraising $49,152$534,152
Part X · Balance sheet $12,950,113 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $56,568$479,995
X-11 Publicly traded securitiesStart of year $9,684,062$12,121,018
X-15 Other assetsStart of year $310,434$349,100
X-16 Total assetsStart of year $10,051,064$12,950,113
X-25 Other liabilitiesStart of year $332,920$737,944
X-26 Total liabilitiesStart of year $332,920$737,944
X-27 Net assets without donor restrictionsStart of year $8,857,745$11,128,200
X-28 Net assets with donor restrictionsStart of year $860,399$1,083,969
X-32 Total net assets or fund balancesStart of year $9,718,144$12,212,169
X-33 Total liabilities and net assetsStart of year $10,051,064$12,950,113
Part XI · Reconciliation of net assets $12,212,169 net assets at year end
XI-1 Total revenue$1,217,233
XI-2 Total expenses$534,152
XI-3 Revenue less expenses$683,081
XI-4 Net assets at start of year$9,718,144
XI-5 Net unrealized gains (losses) on investments$1,810,944
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,212,169

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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