CARMEL TERRACE INC

EIN: 043210051 501(c)(3) Housing & Shelter

FRAMINGHAM, MA

Total Revenue
$4,893,318
Total Expenses
$4,319,750
Total Assets
$18,687,171
Net Assets
$17,562,580
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MA
Principal Officer
MOTHER MARY ROSE HEERY
Phone
5087888000
Tax Period
2023-01-01 to 2023-12-31

CARMEL TERRACE INC, founded in 1993, is a community nonprofit in the Housing & Shelter sector that reported $4.9M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $4.3M left a modest 12% surplus.

Mission

THE MISSION OF THE ORGANIZATION IS TO PROVIDE CARE AND SERVICES TO THE COMMUNITY IN CONFORMANCE WITH THE THEOLOGY, PHILOSOPHY, TEACHINGS AND DOCTRINES OF THE ROMAN CATHOLIC CHURCH, RESPECTING AND BUILDING ON THE MISSION, PHILOSOPHY AND VALUES OF THE CARMELITE SISTERS FOR THE AGED AND INFIRM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,127
Program Service Revenue $4,211,543
Investment Income $612,805
Other Revenue $63,843
TOTAL REVENUE $4,893,318

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,968,487
Fundraising Expenses $0
Program Expenses $3,885,558
Other Expenses $2,351,263
TOTAL EXPENSES $4,319,750

Year-over-Year Comparison

2023 2022 Change
Revenue $4,893,318 $4,336,050 +0.1%
Expenses $4,319,750 $4,158,631 +0.0%
Net Income $573,568 $177,419 +2.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
56
Volunteers
11

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$761,648
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MOTHER MARY ROSE HEERY PRESIDENT 1.00
Officer Director
$0 $0 $0
SR MAUREEN MURRAY VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
MR ROBERT J GRIFFIN ESQ TREASURER 1.00
Officer Director
$0 $0 $0
MS LINDA J DIXON SECRETARY 1.00
Officer Director
$0 $0 $0
SR PAULINE BRECANIER MEMBER 1.00
Director
$0 $0 $0
SR SEAN DAMIEN FLYNN MEMBER 1.00
Director
$0 $0 $0
MS KATHLEEN GIBNEY MEMBER 1.00
Director
$0 $0 $0
SR TERESA STEPHEN PEREIRA MEMBER 1.00
Director
$0 $0 $0
SR ANTHONY DE LOURDES VEILLEUX MEMBER 1.00
Director
$0 $0 $0
SR LOIS ANN WETZEL MEMBER 1.00
Director
$0 $0 $0
SR M JEANNE FRANCIS HALEY O CARM MEMBER 1.00
Director
$0 $0 $0
SR THERESA MARIE PFEFFER MEMBER 1.00
Director
$0 $0 $0
PATRICIA GATHERS PRESIDENT / CEO / COO 1.00
Officer
$0 $48,935 $761,648
EMILY COLLINS ADMINISTRATOR 40.00
Highest
$105,532 $11,228 $116,760
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $4,893,318 $4,319,750 $18,687,171 $573,568
2022 $4,336,050 $4,158,631 $17,774,771 $177,419
2021 $5,505,438 $4,130,043 $20,326,260 $1,375,395
2020 $5,181,562 $4,272,187 $19,797,218 $909,375
2019 $5,213,814 $4,305,205 $18,456,553 $908,609
2018 $5,291,596 $4,269,202 $17,144,916 $1,022,394
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