Is Harbor Ministries Inc Legit?

Strengths

Consistent asset growth, from $528,045 in 2014 to $2,937,908 in 2023, demonstrates strong financial management.
Remarkable 0% officer compensation reported across all 13 filings, indicating a high dedication of funds to the mission.
Low liabilities relative to assets, with liabilities of $22,455 against assets of $2,937,908 in 2023, showcasing fiscal responsibility.
Consistent revenue generation, generally exceeding $1 million in recent years, provides a stable funding base.
Positive net income in most years, allowing for reinvestment and asset accumulation (e.g., 2023 revenue $1,218,951 vs. expenses $976,946).

Spending Breakdown

How Harbor Ministries Inc allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Harbor Ministries Inc

Is Harbor Ministries Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Harbor Ministries Inc (EIN: 204894998) appears trustworthy. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.

Is Harbor Ministries Inc a good charity to donate to?

Harbor Ministries Inc has a Mission Score of 95/100. Revenue: $1.2M. Assets: $3.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Harbor Ministries Inc?

The Employer Identification Number (EIN) for Harbor Ministries Inc is 204894998. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Harbor Ministries Inc spend its money?

Harbor Ministries Inc allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Harbor Ministries Inc's tax-exempt status?

You can verify Harbor Ministries Inc's tax-exempt status using EIN 204894998 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Harbor Ministries Inc demonstrates consistent financial health with growing assets and stable revenue streams. Over the past five years, revenue has fluctuated but generally remained above $1 million, reaching $1,218,951 in 2023. The organization consistently spends a high proportion of its expenses on program services, as evidenced by its strong program spending ratio. For instance, in 2023, with expenses of $976,946, a significant portion would be allocated to programs given the overall efficiency. The organization's liabilities are consistently low relative to its assets, indicating a strong balance sheet and fiscal responsibility. 

Spending efficiency appears robust, with expenses generally well below revenue, allowing for asset growth. For example, in 2023, expenses were $976,946 against revenues of $1,218,951, resulting in a surplus that contributes to asset accumulation. The consistent reporting of 0% officer compensation across all available filings is a significant indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. This practice enhances donor confidence and reflects a lean operational model. The organization's assets have steadily grown from $528,045 in 2014 to $2,937,908 in 2023, showcasing effective financial management and sustainability.

Verdict: Harbor Ministries Inc appears trustworthy

Red Flags