Carmel Connection Foundation Inc
- Assets
- $326.2k
- Revenue
- $228.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Point Pleasant Beach, NJ
- Founding
- Data as of
- 06/2022
- EIN
- 86-2381817
Organization Overview
Carmel Connection Foundation Inc is located in Point Pleasant Beach, NJ. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carmel Connection Foundation Inc 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 06/2022, Carmel Connection Foundation Inc generated $228.1k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 31.7% each year . All expenses for the organization totaled $1.6k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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 MANY YEARS TO COME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 MANY YEARS TO COME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Abitanto Trustee | Trustee | $0 | |
Lauren Andree Trustee | Trustee | $0 | |
Timothy Andree President | OfficerTrustee | $0 | |
Theresa Craig Trustee | Trustee | $0 | |
Katie O'meara Secretary | OfficerTrustee | $0 | |
Sr Jude Boyce Ssj Treasurer | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $210,000 |
| Investment income | $2,612 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,465 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $228,077 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,643 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,765 |
| Savings and temporary cash investments | $50,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $255,409 |
| Total assets | $326,174 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $326,174 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $326,174 |