Carmel Estates INC FY2021 filing

Tax-deductible

Hattisburg, MS501(c)(3)HousingEIN 64-0892109Revenue $133K in FY2021

On file with the IRS85 Jacksonwood Court, 39401-8501 · Hattisburg, MSTax-exempt since Jun 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Providng Low Income Housing to the Elderly

501(c)(3) charity; gifts are tax-deductible.
100¢ 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $15K a year · 11% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$25K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$133K
+1% vs prior year
Spent
$141K
To programs
100%
Net assets
$542K
By yearFY2020–FY2024
Revenue
$133K
FY2021▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$131K
FY2021$133K
FY2022$126K
FY2023$122K
FY2024$175K
Expenses
$141K
FY2021▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$123K
FY2021$141K
FY2022$144K
FY2023$164K
FY2024$190K
Net assets
$542K
FY2021-0.1%
Tap a bar for its year
Net assets by fiscal year
FY2020$542K
FY2021$542K
FY2022$529K
FY2023$487K
FY2024$476K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1998.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $141K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Carmel Estates INC executive salaries →

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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

Provides affordable housing for seniors in need.

Questions for Carmel Estates INC

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Provided by the organization

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1 program · $141K · in their own filed words · FY2021
01

Low income housing for seniors and disabled

$141Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$133K
Ln 12
Fees for servicesLn 2g$129K
Other incomeLn 4–11$4K
Investment incomeLn 3$12
Money outPt IX
$141K
Ln 25
Programscol B$141K
Owns and owesPt X
$542K
net assets · Ln 32
Cash and savingsLn 1–2$30K
Total assetsLn 16$566K
LiabilitiesLn 26$25K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$129K
Investment incomeLn 3$12
Other incomeLn 4–11$4K
Total revenueLn 12$133K
Assets in detailPt X, end of year
CashLn 1$30K
Cash and savings togetherLn 1–2$30K
Land, buildings, equipmentLn 10c$440K
Other assetsLn 15$89K
Total assetsLn 16$566K
LiabilitiesLn 26$25K
Net assetsLn 32$542K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$33K$30K
Land, buildings, equipmentLn 10c$468K$440K
Total assetsLn 16$567K$566K
LiabilitiesLn 26$25K$25K
Net assetsLn 32$542K$542K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$26K$26K
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$115K$115K
All other expensesLn 24e$0
Total functional expensesLn 25$141K$141K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $175K$190K−$15K$476K 990 PDF
FY2023 $122K$164K−$42K$487K 990 PDF
FY2022 $126K$144K−$18K$529K 990 PDF
FY2021 Viewing $133K$141K−$8K$542K 990 PDF
FY2020 $131K$123K$8K$542K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $133,061 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $127,980$128,718
I-10 Investment incomePrior year $8$12
I-11 Other revenuePrior year $3,279$4,331
I-12 Total revenuePrior year $131,267$133,061
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $123,309$141,079
I-18 Total expensesPrior year $123,309$141,079
I-19 Revenue less expensesPrior year $7,958−$8,018
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $133,061 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $128,718$128,718
VIII-3 Investment incomeRelated to mission $12$12
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,331$4,331
VIII-12 Total revenueRelated to mission $133,061$133,061
Part IX · Statement of functional expenses $141,079 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $26,361$26,361
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $114,718$114,718
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $141,079 · Management $0 · Fundraising $0$141,079
Part X · Balance sheet $566,356 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $32,890$30,004
X-4 Accounts receivableStart of year $2,309$3,233
X-9 Prepaid expenses and deferred chargesStart of year $3,770$3,609
X-10c Land, buildings and equipment, netStart of year $468,011$440,075
X-15 Other assetsStart of year $60,171$89,435
X-16 Total assetsStart of year $567,151$566,356
X-17 Accounts payable and accrued expensesStart of year $20,306$19,348
X-25 Other liabilitiesStart of year $4,451$5,302
X-26 Total liabilitiesStart of year $24,757$24,650
X-27 Net assets without donor restrictionsStart of year $542,394$541,706
X-32 Total net assets or fund balancesStart of year $542,394$541,706
X-33 Total liabilities and net assetsStart of year $567,151$566,356
Part XI · Reconciliation of net assets $541,706 net assets at year end
XI-1 Total revenue$133,061
XI-2 Total expenses$141,079
XI-3 Revenue less expenses−$8,018
XI-4 Net assets at start of year$542,394
XI-7 Investment expenses$7,330
XI-10 Net assets at end of year$541,706

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

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