Carmel Hill Fund
- Assets
- $0.0
- Revenue
- $52.9m
- Investments
- $400.7m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1987
- Data as of
- 12/2021
- 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 12/2021, Carmel Hill Fund generated $52.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $19.9m during the year ending 12/2021. While expenses have increased by 8.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Carmel Hill Fund has awarded 313 individual grants totaling $71,331,777. 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
2021
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 29 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Goldfarb Trustee | 2 | $0 | |
Daniel Lynn Mosley Trustee | 2 | $0 | |
Elizabeth A Ruane Trustee | 2 | $0 | |
Arlene Farrand-Borgerson Executive Director | 40 | $369,959 | |
Fanon J Howell Area Director Chfep | 40 | $289,381 | |
Eileen M Mcmahon Area Director Chfep | 40 | $169,980 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ruane Cuniff & Goldfarb Llc | 12/30/22 | $881,340 |
Ann Hamm- Scholly Molly Inc | 12/30/22 | $111,882 |
Rsm Us Llp | 12/30/22 | $105,000 |
Elizabeth Fader | 12/30/22 | $79,072 |
Patterson Belknap | 12/30/22 | $71,252 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,078 |
| Dividends & Interest | $4,109,671 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,392,027 |
| Total Revenue | $52,940,362 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $363,070 |
| Pension plans, employee benefits | $839,115 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $8,887,175 |
| Contributions, gifts, grants paid | $11,050,482 |
| Total expenses and disbursements | $19,937,657 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,783 |
| Investments—mortgage loans | $0 |
| Investments—other | $106,249,460 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Carmel Hill Fund has awarded $10,605,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON COLLEGE PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $25,000 |
FOOD BANK OF NEW YORK CITY PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $1,000,000 |
BRAIN & BEHAVIOR RESEARCH FOUNDATION PURPOSE: CONTRIBUTION TOWARDS SCIENTIFIC RESEARCH IN REGARD TO CHILDREN'S MENTAL HEALTH | $550,000 |
FOUNTAIN HOUSE PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $1,000,000 |
LETS GROW KIDS PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $1,000,000 |
LITERACY INC NYC PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $2,250,000 |