Harford County Education Foundation Inc
Harford County Education Foundation shows steady growth and no officer compensation, with occasional operating deficits.
EIN: 202060496 · Abingdon, MD · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $239K |
| Total Expenses | $244K |
| Program Spending | 80% |
| Net Assets | $134K |
| Transparency Score | 85/100 |
Is Harford County Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harford County Education Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harford County Education Foundation Inc
Harford County Education Foundation Inc (EIN: 202060496) is a nonprofit organization based in Abingdon, MD, classified under NTEE code B82. The organization reported total revenue of $239K and total assets of $143K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harford County Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harford County Education Foundation Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 9.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $218K |
| Total Expenses | $244K |
| Surplus / Deficit | $-25,618 |
| Total Assets | $147K |
| Total Liabilities | $13K |
| Net Assets | $134K |
| Operating Margin | -11.7% |
| Debt-to-Asset Ratio | 8.8% |
| Months of Reserves | 7.2 months |
Financial Health Grade: B
In 2024, Harford County Education Foundation Inc reported a deficit of $26K with expenses exceeding revenue, holds 7.2 months of operating reserves (strong position), has a debt-to-asset ratio of 8.8% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Harford County Education Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -8.8% | +16.9% | -9.8% |
| 2023 | +14.9% | +4.1% | +19.5% |
| 2022 | -10.7% | +8.3% | -3.3% |
| 2021 | +28.0% | +0.6% | +18.3% |
| 2020 | +7.9% | +15.3% | +20.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Harford County Education Foundation Inc with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Harford County Education Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $26K, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.8%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly favorable for donor perception and 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 Harford County Education Foundation Inc's IRS 990 filings:
- Occasional operating deficits, such as the $25,618 deficit in Period 202406 (Expenses $244,054 > Revenue $218,436), which could indicate reliance on reserves or prior surpluses.
Strengths
The following positive indicators were identified for Harford County Education Foundation Inc:
- Consistent asset growth, from $54,965 in 2015 to $147,265 in 2024, demonstrating financial stability and increasing capacity.
- Zero officer compensation reported across all filings, indicating efficient use of funds and strong commitment to mission.
- Long history of IRS 990 filings (13 filings), showing a strong commitment to transparency and regulatory compliance.
- Relatively low liabilities compared to assets, indicating a healthy balance sheet (e.g., Liabilities $12,961 vs. Assets $147,265 in 2024).
Frequently Asked Questions about Harford County Education Foundation Inc
Is Harford County Education Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Harford County Education Foundation Inc (EIN: 202060496) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Harford County Education Foundation Inc spend its money?
Harford County Education Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harford County Education Foundation Inc tax-deductible?
Harford County Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202060496). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Harford County Education Foundation Inc's spending goes to programs?
Harford County Education Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Harford County Education Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Harford County Education Foundation Inc is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Harford County Education Foundation Inc located?
Harford County Education Foundation Inc is headquartered in Abingdon, Maryland and files with the IRS under EIN 202060496. It is classified under NTEE code B82.
How many years of IRS 990 filings does Harford County Education Foundation Inc have?
Harford County Education Foundation 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 $239K in total revenue.
What percentage of expenses are allocated to program services?
While specific percentages for program, administrative, and fundraising expenses are not provided in the summary data, the absence of officer compensation and consistent asset growth suggest a strong focus on program delivery. A detailed breakdown from the full 990 filing would be needed for a precise figure.
How does the organization manage its occasional operating deficits, such as the one in Period 202406?
The organization appears to manage these deficits through accumulated assets or by balancing them with surpluses from other periods, as seen with the $30,000 surplus in Period 202306. Its overall asset growth from $54,965 in 2015 to $147,265 in 2024 indicates a healthy financial reserve.
What is the primary source of the organization's revenue?
The provided data only shows total revenue. To understand the primary sources (e.g., grants, donations, program service fees), a deeper dive into the full IRS 990 forms would be necessary.
Filing History
IRS 990 filing history for Harford County Education Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Harford County Education Foundation Inc's revenue has grown by 183.4%, moving from $77K to $218K. Total assets increased by 180.1% over the same period, from $53K to $147K. Total functional expenses rose by 353.2%, from $54K to $244K. In its most recent filing year (2024), Harford County Education Foundation Inc reported a deficit of $26K, with expenses exceeding revenue. The organization holds $13K in liabilities against $147K in assets (debt-to-asset ratio: 8.8%), resulting in net assets of $134K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $218K | $244K | $147K | $13K | — | — |
| 2023 | $240K | $209K | $163K | $11K | — | View 990 |
| 2022 | $209K | $200K | $137K | $14K | — | View 990 |
| 2021 | $233K | $185K | $141K | $18K | — | View 990 |
| 2020 | $182K | $184K | $119K | $45K | — | View 990 |
| 2019 | $169K | $160K | $99K | $23K | — | View 990 |
| 2018 | $152K | $152K | $81K | $14K | — | — |
| 2017 | $129K | $118K | $84K | $16K | — | View 990 |
| 2016 | $102K | $94K | $65K | $8K | — | View 990 |
| 2015 | $72K | $65K | $55K | $6K | — | View 990 |
| 2014 | $65K | $58K | $47K | $5K | — | View 990 |
| 2013 | $59K | $77K | $38K | $4K | — | View 990 |
| 2012 | $77K | $54K | $53K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $218K, expenses of $244K, and assets of $147K (revenue -8.8% year-over-year).
- 2023: Revenue of $240K, expenses of $209K, and assets of $163K (revenue +14.9% year-over-year).
- 2022: Revenue of $209K, expenses of $200K, and assets of $137K (revenue -10.7% year-over-year).
- 2021: Revenue of $233K, expenses of $185K, and assets of $141K (revenue +28.0% year-over-year).
- 2020: Revenue of $182K, expenses of $184K, and assets of $119K (revenue +7.9% year-over-year).
- 2019: Revenue of $169K, expenses of $160K, and assets of $99K (revenue +11.4% year-over-year).
- 2018: Revenue of $152K, expenses of $152K, and assets of $81K (revenue +18.2% year-over-year).
- 2017: Revenue of $129K, expenses of $118K, and assets of $84K (revenue +26.1% year-over-year).
- 2016: Revenue of $102K, expenses of $94K, and assets of $65K (revenue +41.1% year-over-year).
- 2015: Revenue of $72K, expenses of $65K, and assets of $55K (revenue +10.6% year-over-year).
- 2014: Revenue of $65K, expenses of $58K, and assets of $47K (revenue +11.3% year-over-year).
- 2013: Revenue of $59K, expenses of $77K, and assets of $38K (revenue -23.9% year-over-year).
- 2012: Revenue of $77K, expenses of $54K, and assets of $53K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harford County Education Foundation Inc:
Data Sources and Methodology
This transparency report for Harford County Education Foundation 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.