Harbor Ministries Inc
Harbor Ministries Inc consistently directs 100% of officer compensation to programs, maintaining strong financial health and asset growth.
EIN: 204894998 · Lincoln, NE · NTEE: X21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $977K |
| Program Spending | 90% |
| Net Assets | $2.9M |
| Transparency Score | 95/100 |
Is Harbor Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harbor Ministries Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harbor Ministries Inc
Harbor Ministries Inc (EIN: 204894998) is a nonprofit organization based in Lincoln, NE, classified under NTEE code X21. The organization reported total revenue of $1.2M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harbor Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harbor Ministries Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 21.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $977K |
| Surplus / Deficit | +$242K |
| Total Assets | $2.9M |
| Total Liabilities | $22K |
| Net Assets | $2.9M |
| Operating Margin | 19.9% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 36.1 months |
Financial Health Grade: A
In 2023, Harbor Ministries Inc reported a surplus of $242K with revenue exceeding expenses, holds 36.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Harbor Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 21.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.8% | +3.6% | +7.9% |
| 2022 | +1.9% | +20.8% | +7.9% |
| 2021 | -17.2% | +24.5% | +14.8% |
| 2020 | +39.3% | -11.3% | -8.8% |
| 2019 | +4.5% | +82.3% | +11.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2007 |
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 Ministries Inc with a Mission Score of 95 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 Ministries 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 $242K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
Harbor Ministries Inc reports 0% officer compensation across all 13 available filings, indicating that no funds are allocated to executive salaries, which is highly unusual and suggests a volunteer-led or extremely lean leadership structure.
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 Ministries Inc's IRS 990 filings:
- Unusually low or zero reported officer compensation could indicate that compensation is being paid through other means not categorized as 'officer compensation' or that the organization is entirely volunteer-run at the executive level, which warrants further investigation for full transparency.
Strengths
The following positive indicators were identified for Harbor Ministries Inc:
- 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).
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) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Harbor Ministries Inc spend its money?
Harbor Ministries Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harbor Ministries Inc tax-deductible?
Harbor Ministries Inc is registered as a tax-exempt nonprofit (EIN: 204894998). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Harbor Ministries Inc's spending goes to programs?
Harbor Ministries Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Harbor Ministries Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Harbor Ministries Inc is above average for NTEE category X21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Harbor Ministries Inc located?
Harbor Ministries Inc is headquartered in Lincoln, Nebraska and files with the IRS under EIN 204894998. It is classified under NTEE code X21.
How many years of IRS 990 filings does Harbor Ministries Inc have?
Harbor Ministries 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 $1.2M in total revenue.
Is Harbor Ministries Inc a good charity?
Based on the IRS 990 data, Harbor Ministries Inc appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, and a remarkable commitment to its mission by reporting 0% officer compensation across all filings, ensuring funds are directed to programs.
How has Harbor Ministries Inc's financial health changed over time?
Harbor Ministries Inc has shown consistent financial growth and stability. Its assets have increased significantly from $528,045 in 2014 to $2,937,908 in 2023, while liabilities have remained low. Revenue has also shown a general upward trend, supporting this growth.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available IRS 990 filings, indicating a highly unusual and commendable approach where no funds are used for executive salaries, suggesting a volunteer-driven leadership or a structure where compensation is covered by other means not reported as officer compensation.
Filing History
IRS 990 filing history for Harbor Ministries Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Harbor Ministries Inc's revenue has grown by 913.8%, moving from $120K to $1.2M. Total assets increased by 912.7% over the same period, from $290K to $2.9M. Total functional expenses rose by 857.8%, from $102K to $977K. In its most recent filing year (2023), Harbor Ministries Inc reported a surplus of $242K, with revenue exceeding expenses. The organization holds $22K in liabilities against $2.9M in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $2.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $977K | $2.9M | $22K | — | View 990 |
| 2022 | $1.1M | $943K | $2.7M | $49K | — | View 990 |
| 2021 | $1.1M | $781K | $2.5M | $26K | — | View 990 |
| 2020 | $1.3M | $627K | $2.2M | $20K | — | View 990 |
| 2019 | $954K | $707K | $2.4M | $933K | — | View 990 |
| 2018 | $913K | $388K | $2.2M | $923K | — | View 990 |
| 2017 | $561K | $373K | $720K | $14K | — | View 990 |
| 2016 | $323K | $322K | $545K | $26K | — | View 990 |
| 2015 | $262K | $266K | $524K | $7K | — | View 990 |
| 2014 | $351K | $242K | $528K | $7K | — | View 990 |
| 2013 | $283K | $188K | $418K | $6K | — | View 990 |
| 2012 | $164K | $135K | $317K | $1K | — | View 990 |
| 2011 | $120K | $102K | $290K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $977K, and assets of $2.9M (revenue +8.8% year-over-year).
- 2022: Revenue of $1.1M, expenses of $943K, and assets of $2.7M (revenue +1.9% year-over-year).
- 2021: Revenue of $1.1M, expenses of $781K, and assets of $2.5M (revenue -17.2% year-over-year).
- 2020: Revenue of $1.3M, expenses of $627K, and assets of $2.2M (revenue +39.3% year-over-year).
- 2019: Revenue of $954K, expenses of $707K, and assets of $2.4M (revenue +4.5% year-over-year).
- 2018: Revenue of $913K, expenses of $388K, and assets of $2.2M (revenue +62.8% year-over-year).
- 2017: Revenue of $561K, expenses of $373K, and assets of $720K (revenue +73.4% year-over-year).
- 2016: Revenue of $323K, expenses of $322K, and assets of $545K (revenue +23.3% year-over-year).
- 2015: Revenue of $262K, expenses of $266K, and assets of $524K (revenue -25.4% year-over-year).
- 2014: Revenue of $351K, expenses of $242K, and assets of $528K (revenue +23.9% year-over-year).
- 2013: Revenue of $283K, expenses of $188K, and assets of $418K (revenue +72.3% year-over-year).
- 2012: Revenue of $164K, expenses of $135K, and assets of $317K (revenue +36.8% year-over-year).
- 2011: Revenue of $120K, expenses of $102K, and assets of $290K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harbor Ministries Inc:
Data Sources and Methodology
This transparency report for Harbor Ministries 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.