Harbor Road Foundation
Harbor Road Foundation faces significant financial challenges with persistent revenue shortfalls and declining assets.
EIN: 203974072 · Wilmington, DE · NTEE: T20 · Updated: 2026-03-28
Is Harbor Road Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harbor Road Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harbor Road Foundation
Harbor Road Foundation (EIN: 203974072) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T20. The organization reported total revenue of $25K and total assets of $179K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harbor Road Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harbor Road Foundation is a micro nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -16.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1K |
| Total Expenses | $92K |
| Surplus / Deficit | $-91,258 |
| Total Assets | $241K |
| Total Liabilities | $1 |
| Net Assets | $241K |
| Operating Margin | -8054.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 31.3 months |
Financial Health Grade: B
In 2023, Harbor Road Foundation reported a deficit of $91K with expenses exceeding revenue, holds 31.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Harbor Road Foundation's revenue has declined at a compound annual growth rate (CAGR) of -16.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +125.7% | -25.3% | -27.4% |
| 2022 | +180.4% | +57.1% | -27.0% |
| 2021 | -99.9% | +13.7% | -14.7% |
| 2020 | +298.3% | +0.8% | +101.5% |
| 2019 | +1125.1% | +449.2% | -6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Road Foundation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Harbor Road Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 deficit of $91K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, suggesting a volunteer-led organization or that compensation is not paid to officers, which is a positive indicator for resource allocation.
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 Road Foundation's IRS 990 filings:
- Persistent and significant deficit spending (e.g., 2023 revenue $1,133 vs. expenses $92,391).
- Rapid decline in total assets over recent years (from $534,169 in 2020 to $241,282 in 2023).
- Revenue generation is consistently very low compared to operational expenses in most years.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary makes efficiency analysis difficult.
Strengths
The following positive indicators were identified for Harbor Road Foundation:
- Consistent reporting of 0% officer compensation, indicating potential volunteer leadership or efficient use of funds for executive roles.
- Low liabilities across all reported periods ($1 or $0), suggesting minimal debt burden.
Frequently Asked Questions about Harbor Road Foundation
Is Harbor Road Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Harbor Road Foundation (EIN: 203974072) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Harbor Road Foundation spend its money?
Harbor Road Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harbor Road Foundation tax-deductible?
Harbor Road Foundation is registered as a tax-exempt nonprofit (EIN: 203974072). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Harbor Road Foundation financially sustainable?
Based on the data, the organization is not financially sustainable. Its expenses have consistently and significantly exceeded its revenue in recent years (e.g., $1,133 revenue vs. $92,391 expenses in 2023), leading to a substantial depletion of assets.
Why are assets declining so rapidly?
Assets have declined from $534,169 in 2020 to $241,282 in 2023 primarily because the organization's expenses have far outstripped its revenue, forcing it to draw down its reserves to cover operational costs.
What caused the large revenue spike in 2020?
In 2020, the organization reported $338,271 in revenue, a significant increase compared to other years. The provided data does not specify the source, but it was an anomaly that temporarily boosted its financial position before subsequent declines.
How does the organization cover its expenses with such low revenue?
The organization has been covering its expenses by drawing down its accumulated assets. For instance, in 2023, with only $1,133 in revenue, it spent $92,391, indicating a reliance on its asset base rather than current income.
Filing History
IRS 990 filing history for Harbor Road Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Harbor Road Foundation's revenue has declined by 87.6%, moving from $9K to $1K. Total assets decreased by 28.5% over the same period, from $338K to $241K. Total functional expenses rose by 305.9%, from $23K to $92K. In its most recent filing year (2023), Harbor Road Foundation reported a deficit of $91K, with expenses exceeding revenue. The organization holds $1 in liabilities against $241K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $241K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1K | $92K | $241K | $1 | — | — |
| 2022 | $502 | $124K | $333K | $1 | — | View 990 |
| 2021 | $179 | $79K | $456K | $1 | — | View 990 |
| 2020 | $338K | $69K | $534K | $1 | — | — |
| 2019 | $85K | $69K | $265K | $1 | — | — |
| 2015 | $7K | $12K | $284K | $1 | — | View 990 |
| 2014 | $29K | $58K | $290K | $1 | — | View 990 |
| 2013 | $7K | $20K | $319K | $1 | — | View 990 |
| 2012 | $26K | $37K | $332K | $0 | — | View 990 |
| 2011 | $9K | $23K | $338K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1K, expenses of $92K, and assets of $241K (revenue +125.7% year-over-year).
- 2022: Revenue of $502, expenses of $124K, and assets of $333K (revenue +180.4% year-over-year).
- 2021: Revenue of $179, expenses of $79K, and assets of $456K (revenue -99.9% year-over-year).
- 2020: Revenue of $338K, expenses of $69K, and assets of $534K (revenue +298.3% year-over-year).
- 2019: Revenue of $85K, expenses of $69K, and assets of $265K (revenue +1125.1% year-over-year).
- 2015: Revenue of $7K, expenses of $12K, and assets of $284K (revenue -76.3% year-over-year).
- 2014: Revenue of $29K, expenses of $58K, and assets of $290K (revenue +339.1% year-over-year).
- 2013: Revenue of $7K, expenses of $20K, and assets of $319K (revenue -74.4% year-over-year).
- 2012: Revenue of $26K, expenses of $37K, and assets of $332K (revenue +183.6% year-over-year).
- 2011: Revenue of $9K, expenses of $23K, and assets of $338K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harbor Road Foundation:
Data Sources and Methodology
This transparency report for Harbor Road Foundation 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.