Carmel City Center Community Development Corporation

Nonprofit profile at a glance

EIN
270982122
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3178444605
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$527,658
Expenses
$436,542
Assets
$15,471,003
Liabilities
$13,900,037

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Ronald E Carter (President)
  • Cheryl Wessel (Vice President)

People named in this filing

  • Ronald E Carter (President)
  • Cheryl Wessel (Vice President)
  • Darin Bibeau (Board Member)

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

Carmel City Center Community Development Corporation is operated exclusively to benefit, perform, and carry out the charitable, educational and recreational purposes of the City of Carmel, Indiana, as requested by the City.

What it reported doing in 2024

Provide grants to area arts organizations to further the arts in local community.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 11
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 74
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.4%; rating input score 11
  • Program expense ratio: 13.8%; rating input score 14
  • 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; 76th 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.3%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 35.44; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -58% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: 13.1% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 11.4% of revenue deployed · 13.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $60K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 1 contractor listed · $113K reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 11/100.
  • High — Financial Efficiency: Program expense ratio scored 14/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.