Harbor Homes Inc
Harbor Homes Inc. shows consistent revenue growth and tight expense management with no reported officer compensation.
EIN: 20351932 · Nashua, NH · NTEE: L21Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $40.1M |
| Total Expenses | $37.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $40.1 |
| Net Assets | $9.7M |
| Transparency Score | 92/100 |
Is Harbor Homes Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harbor Homes Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harbor Homes Inc
Harbor Homes Inc (EIN: 20351932) is a nonprofit organization based in Nashua, NH, classified under NTEE code L21Z. The organization reported total revenue of $40.1M and total assets of $31.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harbor Homes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harbor Homes Inc is a large nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $37.9M |
| Total Expenses | $37.5M |
| Surplus / Deficit | +$414K |
| Total Assets | $31.2M |
| Total Liabilities | $21.5M |
| Net Assets | $9.7M |
| Operating Margin | 1.1% |
| Debt-to-Asset Ratio | 69.0% |
| Months of Reserves | 10.0 months |
Financial Health Grade: A
In 2023, Harbor Homes Inc reported a surplus of $414K with revenue exceeding expenses, holds 10.0 months of operating reserves (strong position), has a debt-to-asset ratio of 69.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Harbor Homes Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.7% | +1.0% | +9.0% |
| 2022 | +8.4% | +9.2% | -4.0% |
| 2021 | +4.0% | +13.2% | -5.7% |
| 2020 | +5.0% | -4.4% | +13.1% |
| 2019 | +11.6% | +11.3% | +1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Harbor Homes Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Harbor Homes Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $414K, with revenue exceeding expenses.
- Debt-to-asset ratio: 69.0%.
Executive Compensation Analysis
The provided data consistently shows 0% officer compensation across all filings, which is unusual for an organization of this size ($40.1 million in revenue). This either indicates that executive compensation is not reported in this specific field, or that executives are compensated through other means or entities, warranting further scrutiny for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Harbor Homes Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and warrants further investigation into executive compensation practices.
Strengths
The following positive indicators were identified for Harbor Homes Inc:
- Consistent and significant revenue growth, from $17.1M in 2014 to over $40.1M currently.
- Expenses closely align with revenue, indicating efficient use of funds for current operations (e.g., 2023 revenue $37.8M vs. expenses $37.4M).
- Strong asset base of $31,604,907, demonstrating financial stability.
- Mission-aligned NTEE code (L21Z - Housing/Shelter) with substantial operational scale.
- Positive net assets, with assets consistently exceeding liabilities.
Frequently Asked Questions about Harbor Homes Inc
Is Harbor Homes Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Harbor Homes Inc (EIN: 20351932) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Harbor Homes Inc spend its money?
Harbor Homes Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harbor Homes Inc tax-deductible?
Harbor Homes Inc is registered as a tax-exempt nonprofit (EIN: 20351932). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Harbor Homes Inc CEO make?
Harbor Homes Inc's highest-compensated officer earns $40.1 annually. The organization reported $40.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Harbor Homes Inc's spending goes to programs?
Harbor Homes Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Harbor Homes Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Harbor Homes Inc is above average for NTEE category L21Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Harbor Homes Inc located?
Harbor Homes Inc is headquartered in Nashua, New Hampshire and files with the IRS under EIN 20351932. It is classified under NTEE code L21Z.
How many years of IRS 990 filings does Harbor Homes Inc have?
Harbor Homes Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $40.1M in total revenue.
Is Harbor Homes Inc. a good charity?
Based on the provided financial data, Harbor Homes Inc. appears to be a very good charity. It demonstrates strong financial health, consistent growth, and efficient spending with expenses closely matching revenue. The significant program spending and lack of reported officer compensation are positive indicators.
How has Harbor Homes Inc.'s revenue grown over time?
Harbor Homes Inc. has experienced substantial revenue growth, increasing from $17,168,451 in 2014 to $40,117,484 in the latest period, indicating a strong upward trend in its financial capacity.
What is the organization's financial stability?
The organization shows strong financial stability, with assets growing from $22,572,416 in 2014 to $31,604,907 in the latest period, and liabilities generally managed in proportion to assets. The consistent revenue growth also contributes to its stability.
Why is officer compensation reported as 0%?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this scale. This could mean executive compensation is paid through a related entity, not reported in this specific field on the 990, or that the organization has a unique compensation structure. Further investigation into their full 990 forms would be needed to understand this fully.
Filing History
IRS 990 filing history for Harbor Homes Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Harbor Homes Inc's revenue has grown by 247.7%, moving from $10.9M to $37.9M. Total assets increased by 107.1% over the same period, from $15.1M to $31.2M. Total functional expenses rose by 273.1%, from $10.0M to $37.5M. In its most recent filing year (2023), Harbor Homes Inc reported a surplus of $414K, with revenue exceeding expenses. The organization holds $21.5M in liabilities against $31.2M in assets (debt-to-asset ratio: 69.0%), resulting in net assets of $9.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $37.9M | $37.5M | $31.2M | $21.5M | — | — |
| 2022 | $36.9M | $37.1M | $28.6M | $19.4M | — | View 990 |
| 2021 | $34.0M | $34.0M | $29.8M | $20.3M | — | — |
| 2020 | $32.7M | $30.0M | $31.6M | $22.2M | — | View 990 |
| 2019 | $31.1M | $31.4M | $27.9M | $21.2M | — | View 990 |
| 2018 | $27.9M | $28.2M | $27.6M | $20.8M | — | View 990 |
| 2017 | $22.0M | $22.6M | $27.5M | $20.3M | — | View 990 |
| 2016 | $16.5M | $17.5M | $21.8M | $14.1M | — | View 990 |
| 2015 | $15.5M | $15.5M | $22.6M | $15.1M | — | View 990 |
| 2014 | $17.2M | $13.1M | $22.6M | $15.0M | — | View 990 |
| 2013 | $9.5M | $9.5M | $18.3M | $14.8M | — | View 990 |
| 2012 | $8.2M | $8.4M | $15.9M | $12.4M | — | View 990 |
| 2011 | $10.9M | $10.0M | $15.1M | $11.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $37.9M, expenses of $37.5M, and assets of $31.2M (revenue +2.7% year-over-year).
- 2022: Revenue of $36.9M, expenses of $37.1M, and assets of $28.6M (revenue +8.4% year-over-year).
- 2021: Revenue of $34.0M, expenses of $34.0M, and assets of $29.8M (revenue +4.0% year-over-year).
- 2020: Revenue of $32.7M, expenses of $30.0M, and assets of $31.6M (revenue +5.0% year-over-year).
- 2019: Revenue of $31.1M, expenses of $31.4M, and assets of $27.9M (revenue +11.6% year-over-year).
- 2018: Revenue of $27.9M, expenses of $28.2M, and assets of $27.6M (revenue +26.8% year-over-year).
- 2017: Revenue of $22.0M, expenses of $22.6M, and assets of $27.5M (revenue +33.3% year-over-year).
- 2016: Revenue of $16.5M, expenses of $17.5M, and assets of $21.8M (revenue +6.8% year-over-year).
- 2015: Revenue of $15.5M, expenses of $15.5M, and assets of $22.6M (revenue -9.9% year-over-year).
- 2014: Revenue of $17.2M, expenses of $13.1M, and assets of $22.6M (revenue +81.3% year-over-year).
- 2013: Revenue of $9.5M, expenses of $9.5M, and assets of $18.3M (revenue +16.0% year-over-year).
- 2012: Revenue of $8.2M, expenses of $8.4M, and assets of $15.9M (revenue -25.1% year-over-year).
- 2011: Revenue of $10.9M, expenses of $10.0M, and assets of $15.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harbor Homes Inc:
Data Sources and Methodology
This transparency report for Harbor Homes Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.