Civic Intelligence

Carmel Connection Foundation Inc.

990 • Fiscal year 2023 • EIN 86-2381817

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 28, 2024

Organization ProfileN/A
401 Atlantic AvenuePoint Pleasant Beach, NJ 08742

(732) 513-4496

Siviq Scores

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

Liabilities / Assets

38th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Net Margin

98th percentile

98%

Higher net margin than 98% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

56th percentile

$0

Higher top officer pay than 56% of similar nonprofits.

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

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Asset Growth

94th percentile

114%

Faster asset growth than 94% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

66%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$698,603

Up $372,429 (+114%) from 2022

Net Assets

Up

$698,603

Up $372,429 (+114%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin98th percentile

Revenue

Up

$378,578

Up $150,501 (+66%) from 2022

Expenses

Up

$6,149

Up $4,506 (+274%) from 2022

Net Income

Up

$372,429

Up $145,995 (+64%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$1.5M$1.0M$500K$0Assets 2021: $99,740Liabilities 2021: $0Net Assets 2021: $99,7402021Assets 2022: $326,174Liabilities 2022: $0Net Assets 2022: $326,1742022Assets 2023: $698,603Liabilities 2023: $0Net Assets 2023: $698,6032023Assets 2024: $988,412Liabilities 2024: $21,200Net Assets 2024: $967,2122024Assets 2025: $1,272,250Liabilities 2025: $40,699Net Assets 2025: $1,231,5512025

Highlighted filing

2023

Assets$698,603
Liabilities$0
Net Assets$698,603
Open 2023 Filing

Operations Trend

Revenue Growth85th percentile

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

$400K$300K$200K$100K$0Revenue 2021: $99,882Expenses 2021: $142Net Income 2021: $99,7402021Revenue 2022: $228,077Expenses 2022: $1,643Net Income 2022: $226,4342022Revenue 2023: $378,578Expenses 2023: $6,149Net Income 2023: $372,4292023Revenue 2024: $172,872Expenses 2024: $8,890Net Income 2024: $163,9822024Revenue 2025: $307,502Expenses 2025: $84,008Net Income 2025: $223,4942025

Highlighted filing

2023

Revenue$378,578
Expenses$6,149
Net Income$372,429
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 28, 2024
Return Version
2022v5.0
Gross Receipts
$857,369
Mission and Program Overview

Mission

We are a non-profit corporation established to support the financial needs of our lady of mt. Carmel school. Our main objective is funding a multi- million dollar endowment to support both our inner-city and immigrant youth for many years to come.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$20,765$251,756▲ $230,991
Investments in Publicly Traded Securities-$139,021-
Savings and Temporary Cash Investments$50,000--
Total Assets$326,174$698,603▲ $372,429
Other Assets Total$255,409$307,826▲ $52,417
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$326,174$698,603▲ $372,429
Total Net Assets Fund Balance$326,174$698,603▲ $372,429
Total Liabilities and Net Assets / Fund Balance$326,174$698,603▲ $372,429

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$67,548--
Compensation and Service Providers
Top Officer Pay56th percentile

Board Members and Trustees

NameTitle
Timothy AndreePresident
Fr Miguel Virella SvdTrustee
Laureen AndreeTrustee
Peter AbitantoTrustee
Theresa CraigTrustee
KATIE O'MEARASecretary
Sr Jude Boyce SsjTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$382,630
Program Service Revenue
$0
Investment Income
$-4,052
Other Revenue
$0
All Other Contributions
$382,630
Change in Net Assets
$372,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,149
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$5,710--$5,710
Office Expenses$289--$289
Fees for Services Accounting$150--$150
Total Functional Expenses$6,149$0$0$6,149
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Timothy andree laureen andree president trustee husband & wife”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the board prior to it being electronically filed.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Carmel Connection Foundation Inc
EIN
86-2381817
Phone
7325134496
Address
401 ATLANTIC AVENUE, POINT PLEASANT BEACH, NJ 08742

Signing Officer

Name
Timothy Andree
Title
President
Signed
2024-04-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Andree
Formed
2021
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
David M Muldowneyjr CPA
Address
595 SHREWSBURY AVE STE 206A, SHREWSBURY, NJ 07702
Preparer
David M Muldowney Jr
Phone
7324314332
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We are a non-profit corporation established to support the financial needs of our lady of mt. Carmel school. Our main objective is funding a multi- million dollar endowment to support both our inner-city and immigrant youth for many years to come.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0WE ARE A NON-PROFIT CORPORATION ESTABLISHED TO SUPPORT OUR LADY OF MT CARMEL SCHOOL. OUR MAIN OBJECTIVE IS FUNDING A MULTI-MILLION DOLLAR ENDOWMENT TO SUPPORT BOTH OUR INNER-CITY AND IMMIGRANT YOUTH FOR MANY YEARS TO COME.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ALL CONTRIBUTIONS FROM CCF TO OUR LADY OF MOUNT CARMEL SCHOOL ARE USED FOR TUITION ASSISTANCE TO MEANS TESTED FAMILIES AND SUBSIDIZING TEACHER SALARIES AND IN-CLASSROOM SUPPORT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE ARE A NON-PROFIT CORPORATION ESTABLISHED TO SUPPORT THE FINANCIAL NEEDS OF OUR LADY OF MT. CARMEL SCHOOL. OUR MAIN OBJECTIVE IS FUNDING A MULTI- MILLION DOLLAR ENDOWMENT TO SUPPORT BOTH OUR INNER-CITY AND IMMIGRANT YOUTH FOR MANY YEARS TO COME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TIMOTHY ANDREE LAUREEN ANDREE PRESIDENT TRUSTEE HUSBAND & WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE BOARD PRIOR TO IT BEING ELECTRONICALLY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIMOTHY ANDREE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CARMEL CONNECTION FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0CARM
ReturnHeader/Filer/EIN0862381817
ReturnHeader/Filer/PhoneNum07325134496
ReturnHeader/Filer/USAddress/AddressLine1Txt0401 ATLANTIC AVENUE
ReturnHeader/Filer/USAddress/CityNm0POINT PLEASANT BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd008742
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223843507
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAVID M MULDOWNEYJR CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0595 SHREWSBURY AVE STE 206A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SHREWSBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007702
ReturnHeader/PreparerPersonGrp/PhoneNum07324314332
ReturnHeader/PreparerPersonGrp/PreparationDt02024-04-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID M MULDOWNEY JR
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-04-26T14:54:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TIMOTHY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ANDREE
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$698,603
Liabilities
$0
Net assets
$698,603
Revenue
$378,578
Expenses
$6,149
Net income
$372,429
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.04$1.23$0.31$0.08$0.22
2024Detailed filing. Detailed filing data is available for this year.$0.99$0.02$0.97$0.17$0.01$0.16
2023Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.38$0.01$0.37
2022Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.23$0.00$0.23
2021Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.10$0.00$0.10