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Carmel Connection Foundation INC EIN 86-2381817 Form 990 (PDF) Claim this org

Carmel Connection Foundation INC

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Funds Our Lady of Mt. Carmel School's endowment to support inner-city and immigrant youth. For fiscal year 2025 it reported $308K in revenue, $84K in expenses, and $1.2M in net assets.Pt I

Type
Supporting organization · Education
Location
Pt Pleas Bch, NJ
Filings
3 on file (2023–2025)
Revenue
$308KFY2025
Expenses
$84K
Net assets
$1.2M
People
11
Filings
3
Updates
0
More identity details & actions ⌄
EIN  86-2381817 Supporting organization Pt Pleas Bch, NJ
Form 990 (PDF)
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Size
$100K–1M
What they do
Funds Our Lady of Mt. Carmel School's endowment to support inner-city and immigrant youth.
Leadership
Timothy Andree · President
Money in and out
$308K revenue, $84K expenses
Bottom line
+73% net inflow
Money in and out · FY2025
Total revenue
$308K
Pt VIII · Ln 12
Total expenses
$84K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $223K
Where spending went · Part IX cols B–D
Program services $0.62 Management & general $0.15 Fundraising $0.23
Net inflow
+73%
revenue over expenses, this year▼ -23% vs prior filing year
Pass-through gifts
68%
of revenue from contributions▼ -21% vs prior filing year
Program spending
62%
of expenses reach stated programs

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$308K
FY2025▲ +78%
Expenses
$84K
FY2025▲ +845%
Total assets
$1.3M
FY2025▲ +29%
Total liabilities
$41K
FY2025▲ +92%
Total revenue
$308K
Pt VIII · Ln 12
Total expenses
$84K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$223K
Total assetsPt X · Ln 16$1.3M
Program-expense ratioPt IX · col B62%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCarmel Connection Foundation INC
EINHdr · item D86-2381817
Principal addressHdr · item CPt Pleas Bch, NJ
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNJ
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B12)
Ruling yearIRS BMFMar 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Jude Boyce SR
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Arnone
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $52K of program spending, described in the organization's own filed words · FY2024.
01

We are a non-profit corporation established to support the financial needs of our lady of MT. Carmel school. Our main objective is funding a multi-million dollar endowment to support both our inner-city and immigrant youth for years to come.

$52Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$210K · 68%
Investment income$56K · 18%
Other revenue$42K · 14%
Contributions & grants68%$210K
Investment income18%$56K
Other revenue14%$42K
Total revenueLn 12$308K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.62 Management & general $0.15 Fundraising $0.23
Program services62%$52K
Management & general15%$12K
Fundraising23%$19K
Total functional expensesLn 25$84K

Balance Sheet

Part X · end of year
CashLn 1$140K
Total assetsLn 16$1.3M
Total liabilitiesLn 26$41K
Total net assetsLn 32$1.2M
Months of cash on handcomputed20.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.2M · Operating expenses (Pt IX) $84K · Less non-cash grants $36K · Cash operating expenses/yr $48K
307.4 months
Where the money goes
Program services
Program services $52K · Total expenses $84K
62%
Management & General
Management & general $12K · Total expenses $84K
15%
Fundraising
Fundraising $19K · Total expenses $84K
23%
Cost to raise $1
Fundraising expense (3-yr avg) $7K · Solicited contributions (3-yr avg) $247K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $210K · Total revenue $308K
68%
Government reliance
Government grants — · Total revenue $308K
—
Earned-income share
Program service revenue $0 · Total revenue $308K
0%
Investment reliance
Investment income $56K · Total revenue $308K
+18%
Program self-sufficiency
Program service revenue $0 · Total expenses $84K
0%
Growth & trend
Revenue growth (YoY)
This year $308K · Prior year $173K
+78%
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $308K · Expenses $84K
+73%
Liabilities-to-Assets
Total liabilities — · Total assets $1.3M
—
Net-asset ratio
Net assets $1.2M · Total assets $1.3M
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.3M
86%
People & payroll
Highest Reported Total Compensation
Individual Timothy Andree · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $84K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $84K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 62%——
Overhead ratio 15%——
Fundraising cost ratio 9%——
Revenue growth 78%——
Investment management fee ratio 0.9%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
The Schroth Family Foundation INCFY2024$100K
Janet and Robert W Postma FoundationFY2024$15K
University of Notre Dame Du LacFY2024$8K
The Summersault FoundationFY2024$5K
Total grants receivedfrom 4 funders$128K
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$308K revenue · viewing · ⤓ 990 PDF
FY2024$173K revenue · ⤓ 990 PDF
FY2023$379K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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