Promote Carmel Inc

Nonprofit profile at a glance

EIN
850628374
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Carmel, IN, USA
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$100,190
Expenses
$267,036
Assets
$214,654
Liabilities
$7,094

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

Leadership & pay

7 people listed

Highest reported compensation

  • Sue McFeely (Officer): $48,750 total reported compensation

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

Overview

Mission

Promote Carmel's mission is to promote the City of Carmel, Indiana, it's events and unique qualities to visitors and residents as part of a broader mission to sustain pride in and attract potential residents to Carmel. Promote Carmel operates "All Things Carmel", a gift shop that acts as a visitors center and further exemplifies Carmel's diverse and talented community by selling craft goods made by artisans across the City of Carmel.

What it reported doing in 2024

Advertising and promotion fees for the All Things Carmel store, which acting as a subsidiary of Promote Carmel, Inc, hosted various publicly attended events throughout 2024. These events were intended to familiarize residents and visitors with the City and its upcoming event schedule., Further, All Things Carmel's goods predominantly consist of skillfully made craft by artisans throughout the community of the City of Carmel and demonstrate the culture that Promote Carmel, Inc emphasizes when attracting potential new residents or businesses to the city of Carmel.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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: 9
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 17
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10.6%; rating input score 11
  • Program expense ratio: 7.7%; rating input score 8
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -166.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 18.3%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 30.8% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 10.6% of revenue deployed · 7.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $21K in reported program spending
  • Leadership: top reported pay $49K · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • 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 8/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.