Carmel Clay Education Foundation
Nonprofit profile at a glance
- EIN
- 356066912
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Carmel, IN, USA
- Phone
- 3178449961
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $626,617
- Expenses
- $533,425
- Assets
- $2,732,296
- Liabilities
- $8,922
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- SAM HARRIS (PRESIDENT)
- DALLAS SHELBY (IMMEDIATE PAST PRESIDENT)
- JENNIFER PENIX (EXECUTIVE DIRECTOR)
Highest reported compensation
- JENNIFER PENIX (EXECUTIVE DIRECTOR): $82,293 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Supporting carmel clay students and educators by providing resources that foster academic growth and personal development, empowering every student to become their best future selves.
What it reported doing in 2024
Achieve program (real-world readiness initiatives)the carmel education foundation's achieve program provides educational support for experiential learning opportunities that enhance students' readiness for post-secondary education and the workforce. The program serves students across carmel clay schools through partnerships with established nonprofit organizations and educational providers.program activities include: junior achievement (ja) biztown: a financial literacy and workforce readiness program for fifth-grade students that includes a simulated economic environment where participants learn about personal finance, business operations, and civic responsibility.joseph maley foundation programming: educational programming for elementary and middle school students focused on disability awareness, inclusion, and social-emotional learning through interactive experiences.ja careerignite: a career exploration event for high school students that provides exposure to a variety of industries and occupations through direct interaction with employers and community partners.these activities are designed to supplement the standard curriculum by providing practical learning experiences that support student development in financial literacy, career awareness, and interpersonal skills.
Operating model
- Revenue model
- Donor-supported. 86% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 94
- Accountability: 90
- Sustainability: 69
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81.8%; rating input score 82
- Program expense ratio: 81.4%; rating input score 81
- 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: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: 14.9%; rating input score 70; 70th percentile among comparable filings
- Total-asset coverage ratio: 5.12; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 15.4%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: 11.5% per year; rating input score 100; 67th percentile among comparable filings
- Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
- Asset growth: 3.5% per year; rating input score 100; 32nd percentile among comparable filings
Details
- Where the money goes: 81.8% of revenue deployed · 81.4% of spending went to programs
- Governance: 20 of 20 board members independent · 6 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $434K in reported program spending
- Leadership: top reported pay $82K · 21 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 7 filed schedules · includes major donors and grants
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 22/100.