The Carver Inc

Nonprofit profile at a glance

EIN
060862072
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Norwalk, CT, USA
Phone
2038384305
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Children's, Youth Services

Official website

Reported finances

Revenue
$9,398,755
Expenses
$9,950,314
Assets
$5,175,683
Liabilities
$503,143

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

Leadership & pay

19 people listed

Executive titles in this filing

  • novelette peterkin (CEO)
  • DIANA NAPIER (PAST President)
  • PHILLIP BUTTERFIELD (President)
  • CHARLES BURNS (PRESIDENT EMERI)

Highest reported compensation

  • novelette peterkin (CEO): $305,479 total reported compensation
  • brian allert (Ch Prog Officer): $140,759 total reported compensation
  • ELIZABETH FINN (CFO): $135,576 total reported compensation

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

Overview

Mission

Carvers mission is to equip all learners for global competitiveness by leading strategic partnerships with schools and communities that advance excellence and growth opportunities. Carver operates over 60+ programs for more than 3,000 K-12 students in before-school, after-school, summer, and community initiatives. Programs engage students across all K-12 public schools in Norwalk, Side by Side Charter School, Classical Studies Magnet Academy in Bridgeport, four public elementary schools in Bridgeport, Naugatuck High School, Stamford High School, and the Carver Community Center; also include paid internships for high school students. Aligned with in-school curricula and led by certified teachers from within the students schools, these programs provide essential support, ensuring students advance to the next grade level with the knowledge and skills necessary for success.

What it reported doing in 2024

The Carvers methodology is grounded in a partnership-driven approach. By fostering strong, supportive relationships with educational institutions, Carver works closely with schools to address unique challenges and align resources with community priorities. This embedded, responsive strategy ensures that our focus remains on enhancing educational outcomes and providing meaningful support to the school communities it serves.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 73
  • Accountability: 95
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.3%; rating input score 93
  • Program expense ratio: 88.1%; rating input score 88
  • Fundraising efficiency: $8.63 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.9%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 93.3% of revenue deployed · 88.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.8M in reported program spending
  • Leadership: top reported pay $305K · 19 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $798K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.