Civic Intelligence

Carmel Estates Inc.

990 • Fiscal year 2023 • EIN 64-0892109

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 29, 2024

Organization ProfileNONE
85 Jacksonwood CourtHattisburg, MS 39401-8501

(404) 372-1508

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

57th percentile

0.04x

Higher debt load relative to assets than 57% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

73rd percentile

0.16x

Higher debt load relative to revenue than 73% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

10th percentile

-34%

Higher net margin than 10% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

22nd percentile

-7.2%

Faster asset growth than 22% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

33rd percentile

-3.2%

Faster revenue growth than 33% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$506,377

Down $39,291 (-7.2%) from 2022

Net Assets

Down

$487,156

Down $41,600 (-7.9%) from 2022

Liabilities

Up

$19,221

Up $2,309 (+14%) from 2022

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin10th percentile

Revenue

Down

$122,360

Down $4,069 (-3.2%) from 2022

Expenses

Up

$163,960

Up $19,597 (+14%) from 2022

Net Income

Down

-$41,600

Down $23,666 (-132%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2010: $766,634Liabilities 2010: $1,039,843Net Assets 2010: -$273,2092010Assets 2011: $745,579Liabilities 2011: $1,046,348Net Assets 2011: -$300,7692011Assets 2012: $1,058,959Liabilities 2012: $1,041,142Net Assets 2012: $17,8172012Assets 2014: $655,321Liabilities 2014: $1,060,400Net Assets 2014: -$405,0792014Assets 2015: $637,503Liabilities 2015: $1,063,103Net Assets 2015: -$425,6002015Assets 2016: $624,901Liabilities 2016: $1,048,735Net Assets 2016: -$423,8342016Assets 2017: $619,233Liabilities 2017: $1,067,417Net Assets 2017: -$448,1842017Assets 2018: $583,388Liabilities 2018: $25,245Net Assets 2018: $558,1432018Assets 2019: $560,727Liabilities 2019: $28,847Net Assets 2019: $531,8802019Assets 2020: $567,151Liabilities 2020: $24,757Net Assets 2020: $542,3942020Assets 2021: $566,356Liabilities 2021: $24,650Net Assets 2021: $541,7062021Assets 2022: $545,668Liabilities 2022: $16,912Net Assets 2022: $528,7562022Assets 2023: $506,377Liabilities 2023: $19,221Net Assets 2023: $487,1562023Assets 2024: $501,609Liabilities 2024: $26,056Net Assets 2024: $475,5532024

Highlighted filing

2023

Assets$506,377
Liabilities$19,221
Net Assets$487,156
Open 2023 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$100K$0-$100KExpenses 2010: $104,1472010Expenses 2011: $103,7612011Expenses 2012: $101,3932012Revenue 2014: $89,652Expenses 2014: $124,234Net Income 2014: -$34,5822014Revenue 2015: $99,449Expenses 2015: $118,713Net Income 2015: -$19,2642015Revenue 2016: $100,194Expenses 2016: $107,926Net Income 2016: -$7,7322016Revenue 2017: $123,640Expenses 2017: $127,478Net Income 2017: -$3,8382017Revenue 2018: $117,262Expenses 2018: $142,291Net Income 2018: -$25,0292018Revenue 2019: $111,963Expenses 2019: $138,226Net Income 2019: -$26,2632019Revenue 2020: $131,267Expenses 2020: $123,309Net Income 2020: $7,9582020Revenue 2021: $133,061Expenses 2021: $141,079Net Income 2021: -$8,0182021Revenue 2022: $126,429Expenses 2022: $144,363Net Income 2022: -$17,9342022Revenue 2023: $122,360Expenses 2023: $163,960Net Income 2023: -$41,6002023Revenue 2024: $174,736Expenses 2024: $189,718Net Income 2024: -$14,9822024

Highlighted filing

2023

Revenue$122,360
Expenses$163,960
Net Income-$41,600
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 29, 2024
Return Version
2023v5.1
Gross Receipts
$122,360
Mission and Program Overview

Mission

Provide Low Income Housing to the Elderly

Providng Low Income Housing to the Elderly

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$416,736$405,154▼ $11,582
Cash and Non-Interest-Bearing Accounts$27,185$21,094▼ $6,091
Accounts Receivable$1,371$4,186▲ $2,815
Prepaid Expenses and Deferred Charges$3,742$2,131▼ $1,611
Total Assets$545,668$506,377▼ $39,291
Other Assets Total$96,634$73,812▼ $22,822
Liabilities
Accounts Payable and Accrued Expenses$12,858$14,893▲ $2,035
Other Liabilities$4,054$4,328▲ $274
Total Liabilities$16,912$19,221▲ $2,309
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$528,756$487,156▼ $41,600
Total Net Assets Fund Balance$528,756$487,156▼ $41,600
Total Liabilities and Net Assets / Fund Balance$545,668$506,377▼ $39,291

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$376,646$547,939$924,585
Equipment$3,001$45,771$48,772
Leasehold Improvements$15,857$14,369$30,226
Land$9,650-$9,650
Other Assets Org$800--
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Calvin BrumfiledPresident
Deborah McGeeDirector
Frederick BurnsDirector
Lequster SeawrightDirector
Marquan StoverDirector
Teresa McDayDirector
Beverly McGeeV-Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$121,524
Investment Income
$7
Other Revenue
$829
Change in Net Assets
$-41,600

Audited Revenue Reconciliation

Revenue per Audited Statements
$122,360
Total Revenue per Audited Statements
$122,360
Total Revenue per Form 990
$122,360
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$163,960
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$33,308--$33,308
Depreciation Depletion$30,644--$30,644
Total Functional Expenses$163,960$0$0$163,960

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$163,960
Total Expenses per Audited Statements$163,960
Total Expenses per Form 990$163,960
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$4,328
Tenant Security Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11A

“The IRS form 990 is given to the Management Agent. The form 8879-EO is signed and returned to me as an indication that the return was reveiwed and approved.”

Form 990, Part VI, Section C, Line 19

“The finanical are electronically submitted to HUD. All related parties who would like to receive a copy of the financial may request it. A copy will be provided upon request.”

Form 990, Part VI, Section B, Line 12A12B

“The board members are required to complete a conflict of interest form each year. If a conflict of interest occurs the board is notified immediately.”

Form 990, Part VII, Section B, Line 14

“The company has a written retension and destruction policy.”

Filing and Contact Details

Filer

Filer Name
Carmel Estates Inc
EIN
64-0892109
Phone
4043721508
Address
85 JACKSONWOOD COURT, HATTISBURG, MS 39401-8501
Doing Business As
Eagle Wings II

Signing Officer

Name
Calvin Brumfield
Title
Chairman
Phone
4043721508
Signed
2024-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Calvin Brumfield
Formed
1997
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
7
Employees
2

Preparer

Firm
Foster Ballard Foster LLC
Address
1455 Lincoln Parkway Suite 425, Atlanta, GA 30346
Preparer
Terry L Foster
Phone
6787332518
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt049
IRS990ScheduleA/OtherIncome170Grp/TotalAmt09621
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98450
IRS990ScheduleA/PublicSupportPY170Pct00.98530
IRS990ScheduleA/PublicSupportTotal170Amt0617781
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0121524
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0125255
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0128718
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0131267
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0111017
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0617781
IRS990ScheduleA/TotalSupportAmt0627479
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0376646
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0547939
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0924585
IRS990ScheduleD/EquipmentGrp/BookValueAmt03001
IRS990ScheduleD/EquipmentGrp/DepreciationAmt045771
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt048772
IRS990ScheduleD/ExpensesSubtotalAmt0163960
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt09650
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt09650
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt015857
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt014369
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt030226
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04458
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt163225
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt25329
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3800
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Replacement reserve
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Tenant Security Deposit
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Residual Receipts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Utility Deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04328
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0122360
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0405154
IRS990ScheduleD/TotalBookValueOtherAssetsAmt073812
IRS990ScheduleD/TotalExpensesPerForm990Amt0163960
IRS990ScheduleD/TotalLiabilityAmt04328
IRS990ScheduleD/TotalRevenuePerForm990Amt0122360
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0122360
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0163960
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The IRS form 990 is given to the Management Agent. The form 8879-EO is signed and returned to me as an indication that the return was reveiwed and approved.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The finanical are electronically submitted to HUD. All related parties who would like to receive a copy of the financial may request it. A copy will be provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board members are required to complete a conflict of interest form each year. If a conflict of interest occurs the board is notified immediately.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The company has a written retension and destruction policy.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12A12B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VII, Section B, Line 14
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0545668
IRS990/TotalAssetsEOYAmt0506377
IRS990/TotalAssetsGrp/BOYAmt0545668
IRS990/TotalAssetsGrp/EOYAmt0506377
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0163960
IRS990/TotalFunctionalExpensesGrp/TotalAmt0163960
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016912
IRS990/TotalLiabilitiesEOYAmt019221
IRS990/TotalLiabilitiesGrp/BOYAmt016912
IRS990/TotalLiabilitiesGrp/EOYAmt019221
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0528756
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0487156
IRS990/TotalProgramServiceRevenueAmt0121524
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0122360
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0122360
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0545668
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0506377
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0920 Bradford Avenue
IRS990/USAddress/CityNm0Nashville
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037204
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Calvin Brumfield
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/PhoneNum04043721508
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CARMEL ESTATES INC
ReturnHeader/Filer/BusinessNameControlTxt0CARM
ReturnHeader/Filer/EIN0640892109
ReturnHeader/Filer/PhoneNum04043721508
ReturnHeader/Filer/USAddress/AddressLine1Txt085 JACKSONWOOD COURT
ReturnHeader/Filer/USAddress/CityNm0HATTISBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS
ReturnHeader/Filer/USAddress/ZIPCd0394018501
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200104471
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Foster Ballard Foster LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01455 Lincoln Parkway Suite 425
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Atlanta
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030346
ReturnHeader/PreparerPersonGrp/PhoneNum06787332518
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Terry L Foster
ReturnHeader/ReturnTs02024-10-29T12:33:46-00:00
ReturnHeader/ReturnTypeCd0990

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$506,377
Liabilities
$19,221
Net assets
$487,156
Revenue
$122,360
Expenses
$163,960
Net income
-$41,600
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.03$0.48$0.17$0.19$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.51$0.02$0.49$0.12$0.16$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.02$0.53$0.13$0.14$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.57$0.02$0.54$0.13$0.14$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.57$0.02$0.54$0.13$0.12$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.56$0.03$0.53$0.11$0.14$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.58$0.03$0.56$0.12$0.14$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.62$1.07$0.45$0.12$0.13$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.62$1.05$0.42$0.10$0.11$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.64$1.06$0.43$0.10$0.12$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.66$1.06$0.41$0.09$0.12$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$1.04$0.02$0.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$1.05$0.30$0.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$1.04$0.27$0.10