Carmel Hill Fund
- Assets
- $0.0
- Revenue
- $39.9m
- Investments
- $365.9m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1987
- Data as of
- 12/2020
- EIN
- 13-6881103
Organization Overview
Carmel Hill Fund is located in New York, NY. The organization was established in 1987. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carmel Hill Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Carmel Hill Fund generated $39.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $18.2m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Carmel Hill Fund has awarded 254 individual grants totaling $53,980,800. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CARMEL HILL FUND'S EDUCATION PROGRAM OPERATES IN SCHOOLS IN THREE CITIES: 51 SCHOOLS IN NYC, 19 SCHOOLS IN MONROE, LA AND 59 SCHOOLS IN DENVER, CO REACHING A TOTAL OF OVER 35,000 STUDENTS. OUR MISSION IS TO SUPPORT PRIMARY AND SECONDARY AGED STUDENTS IN BECOMING AVID READERS. TO THIS END, WE PARTNER WITH SCHOOLS TO TRACK STUDENT READING PROGRESS AND PROFICIENCY VERSUS GRADE-LEVEL STATE STANDARDS. OUR PRINCIPAL FOCUS IS UTILIZING RENAISSANCE LEARNING'S ACCELERATED READER SOFTWARE PROGRAM. OUR STAFF CONSISTS OF 21 EMPLOYEES VISITING SCHOOLS TO ASSIST PRINCIPALS, TEACHERS AND LIBRARIANS IN THE SUCCESSFUL IMPLEMENTATION OF THE READING PROGRAM. WE ARE PROUD OF OUR IMPACT ON BOTH THE STUDENTS AND THE COMMUNITIES IN WHICH WE ARE LOCATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arlene Farrand-Borgerson Executive Director | 40 | $363,070 | |
Fanon J Howell Director Chf Educati | 40 | $274,131 | |
Eileen M Mcmahon Area Director Chfep | 40 | $156,841 | |
Allison Painich Area Director Chf Ep | 40 | $126,754 | |
Maria Garcia Implementation Speci | 40 | $114,060 | |
Damary Gonzalez Implementation & Lib | 40 | $95,304 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ruane Cuniff & Goldfarb Llc | 12/30/21 | $1,115,232 |
Ann Hamm - Scholly Molly Inc | 12/30/21 | $113,695 |
Rsm Us Llp | 12/30/21 | $97,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $198,979 |
| Dividends & Interest | $405,151 |
| Profit on Inventory Sales | $0 |
| Other Income | -$178,657 |
| Total Revenue | $39,877,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $363,082 |
| Pension plans, employee benefits | $773,430 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $7,133,100 |
| Contributions, gifts, grants paid | $11,079,841 |
| Total expenses and disbursements | $18,212,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,253 |
| Investments—mortgage loans | $0 |
| Investments—other | $81,701,581 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Carmel Hill Fund has awarded $11,050,482 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
SAVE THE CHILDREN PURPOSE: FOR THE DONEE'S TAX EXEMPT PURPOSE. | $2,500,000 |
New York, NY PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $2,000,000 |
DENVER PUBLIC SCHOOLS PURPOSE: PARTNERING WITH DENVER PUBLIC SCHOOLS WITH BOOKS, COMPUTERS AND READING SOFTWARE | $1,107,574 |
San Francisco, CA PURPOSE: DONOR ADVISED FUND- PLANNED FOR GIFTS FOR DONEE'S EXEMPT PURPOSE AND CAUSE . | $1,100,000 |
New York, NY PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $800,000 |
MONROE SCHOOL DISTRICT PURPOSE: FUNDING LIBRARIES WITH BOOKS, COMPUTER HARDWARE AND ACCELERATED READER SOFTWARE | $677,958 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carmel Hill Fund has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
American Institute For Foreign Study Foundation Stamford, CT PURPOSE: SCHOLARSHIPS | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arnhold Foundation Inc New York, NY | $497,481,101 | $53,665,580 |
The Morningside Foundation Newton Centre, MA | $22,445,720 | $11,895,776 |
Prudential Foundation Inc Newark, NJ | $137,651,624 | $53,115,847 |
The Grace And Mercy Foundation Inc New York, NY | $617,102,449 | $100,220,039 |
The Patrick J Mcgovern Foundation Inc Boston, MA | $1,660,673,846 | $20,910,577 |
One8 Foundation Boston, MA | $488,764,350 | $32,279,319 |
Peter G Peterson Foundation New York, NY | $1,055,700,983 | $50,280,779 |
Leon Levy Foundation New York, NY | $614,122,389 | $121,596,253 |
Shubert Foundation Inc New York, NY | $671,108,588 | $57,657,953 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Hauser Foundation Inc New York, NY | $0 | $9,971,722 |