The Carver Inc
- Assets
- $5.2m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 546
- Location
- Norwalk, CT
- Founding
- 07/1944
- Data as of
- 06/2023
- EIN
- 06-0862072
Organization Overview
The Carver Inc is located in Norwalk, CT. The organization was established in 1944. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 06/2023, Carver Inc employed 546 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carver Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Carver Inc generated $8.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $9.8m during the year ending 06/2023. While expenses have increased by 15.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EQUIP ALL LEARNERS FOR GLOBAL COMPETITIVENESS BY LEADING STRATEGIC PARTNERSHIPS WITH SCHOOLS AND COMMUNITIES THAT ADVANCE EXCELLENCE AND GROWTH OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AGENCY PROVIDED SERVICES TO ECONOMICALLY CHALLENGED AND ACADEMICALLY CHALLENGED CHILDREN THROUGH BEFORE SCHOOL, AFTER SCHOOL, SUMMER AND COMMUNITY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Novelette Peterkin CEO | Officer | 50 | $268,750 |
Tricia Massucco Dir Of Elem Prog | 40 | $95,044 | |
James Schaffer Dir Of Development | 40 | $98,900 | |
Brian Allert Ch Prog Officer | Officer | 40 | $111,989 |
Nikki Lafaye Dir Of Philanthrop | 40 | $96,750 | |
Clinton Hamilton COO | Officer | 40 | $107,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lg Builders And Remodeling Building Renovations | 6/29/16 | $161,978 |
Hunter Mechanical Hvac Installation | 6/29/16 | $253,398 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,811,558 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,837,178 |
| Noncash contributions included in lines 1a–1f | $8,440 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,648,736 |
| Total Program Service Revenue | $2,666,962 |
| Investment income | $27,204 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $355,648 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,698,550 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $84,727 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $488,239 |
| Compensation of current officers, directors, key employees. | $48,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,145,392 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $265,411 |
| Payroll taxes | $485,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,115 |
| Travel | $36,977 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,262 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $148,036 |
| Insurance | $137,856 |
| All other expenses | $541,307 |
| Total functional expenses | $9,831,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,135,861 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $189,193 |
| Accounts receivable, net | $20,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $151,284 |
| Net Land, buildings, and equipment | $2,839,658 |
| Investments—publicly traded securities | $859,129 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,515 |
| Total assets | $5,216,667 |
| Accounts payable and accrued expenses | $127,628 |
| Grants payable | $0 |
| Deferred revenue | $145,859 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,516 |
| Total liabilities | $295,003 |
| Net assets without donor restrictions | $2,424,296 |
| Net assets with donor restrictions | $2,497,368 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,216,667 |