Carmel Assistance & Relief for Employees Fund

Nonprofit profile at a glance

EIN
464983404
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Charlotte, NC, USA
Phone
7049459630
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$94,878
Expenses
$93,648
Assets
$228,334
Liabilities
$504

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • PATRICK DILLON (BOARD CHAIR)
  • RICH HOEFLING (BOARD SECRETARY)
  • PHILLIP COPE (BOARD TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the fund is to support the employees of carmel country club in various ways including during times of financial hardship and in pursuing educational opportunities.

What it reported doing in 2024

Emergency assistance - to provide emergency assistance to those with demonstrated need

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 49
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.7%; rating input score 95
  • Program expense ratio: 95.6%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.3%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 2.44; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: -14.4% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 94.7% of revenue deployed · 95.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $89K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.