Harmon Foundation
Harmon Foundation experiences declining revenue and assets in recent years after periods of higher activity.
EIN: 133102892 · Mt Pleasant, SC · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $639 |
| Total Expenses | $1K |
| Program Spending | 70% |
| Net Assets | $45K |
| Transparency Score | 60/100 |
Is Harmon Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harmon Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Harmon Foundation
Harmon Foundation (EIN: 133102892) is a nonprofit organization based in Mt Pleasant, SC. The organization reported total revenue of $639 and total assets of $43K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harmon Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harmon Foundation is a micro nonprofit that has been operating for 44 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -1.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $561 |
| Total Expenses | $1K |
| Surplus / Deficit | $-488 |
| Total Assets | $45K |
| Total Liabilities | $1 |
| Net Assets | $45K |
| Operating Margin | -87.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 513.2 months |
Financial Health Grade: B
In 2024, Harmon Foundation reported a deficit of $488 with expenses exceeding revenue, holds 513.2 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 (2012–2024), Harmon Foundation's revenue has declined at a compound annual growth rate (CAGR) of -1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +55.4% | -34.1% | -1.1% |
| 2023 | -43.1% | -91.8% | -2.7% |
| 2022 | +49.2% | +902.9% | -28.9% |
| 2021 | -99.7% | -97.7% | -2.3% |
| 2020 | -16.9% | -41.3% | +162.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
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 Harmon Foundation with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Harmon Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $488, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers are receiving salaries from the organization, which is appropriate for an organization of this size and financial activity.
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 Harmon Foundation's IRS 990 filings:
- Consistent negative net income in recent years (e.g., 2024: -$488, 2023: -$1,232, 2022: -$18,903), indicating reliance on past assets.
- Significant decline in assets from a peak of $67,011 in 2020 to $42,734 currently.
- Lack of detailed expense breakdown in the provided data makes it difficult to assess program efficiency.
Strengths
The following positive indicators were identified for Harmon Foundation:
- Consistently reports 0% officer compensation, indicating efficient use of funds for leadership.
- Very low liabilities ($1-$3 across all filings), suggesting minimal debt burden.
Frequently Asked Questions about Harmon Foundation
Is Harmon Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Harmon Foundation (EIN: 133102892) some concerns. Mission Score: 60/100. 3 red flags identified, 2 strengths noted.
How does Harmon Foundation spend its money?
Harmon Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harmon Foundation tax-deductible?
Harmon Foundation is registered as a tax-exempt nonprofit (EIN: 133102892). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Harmon Foundation's spending goes to programs?
Harmon Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Harmon Foundation located?
Harmon Foundation is headquartered in Mt Pleasant, South Carolina and files with the IRS under EIN 133102892.
How many years of IRS 990 filings does Harmon Foundation have?
Harmon Foundation has 10 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 $639 in total revenue.
What is the Harmon Foundation's primary mission or program activity?
The provided data does not specify the NTEE code or a description of the Harmon Foundation's mission or program activities, making it difficult to assess its impact.
Why did the Harmon Foundation's revenue and expenses fluctuate so dramatically between 2019-2020 and subsequent years?
The filings show a significant drop in revenue from $125,447 in 2020 to $425 in 2021, and expenses from $83,989 to $1,948. Without further information, the reason for this drastic change in financial activity is unclear.
How does the Harmon Foundation cover its expenses when revenue is consistently lower, as seen in 2022-2024?
In periods like 2024 (Revenue=$561, Expenses=$1,049), 2023 (Revenue=$361, Expenses=$1,593), and 2022 (Revenue=$634, Expenses=$19,537), the organization's expenses exceeded its revenue. This suggests it is drawing from its existing assets to cover costs, which is reflected in the declining asset balance.
Filing History
IRS 990 filing history for Harmon Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Harmon Foundation's revenue has declined by 13.2%, moving from $646 to $561. Total assets increased by 67.7% over the same period, from $27K to $45K. Total functional expenses fell by 97.5%, from $42K to $1K. In its most recent filing year (2024), Harmon Foundation reported a deficit of $488, with expenses exceeding revenue. The organization holds $1 in liabilities against $45K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $45K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $561 | $1K | $45K | $1 | — | — |
| 2023 | $361 | $2K | $45K | $1 | — | — |
| 2022 | $634 | $20K | $47K | $3 | — | — |
| 2021 | $425 | $2K | $65K | $1 | — | — |
| 2020 | $125K | $84K | $67K | $1 | — | — |
| 2019 | $151K | $143K | $26K | $1 | — | — |
| 2015 | $489 | $3K | $20K | $0 | — | View 990 |
| 2014 | $604 | $3K | $23K | $0 | — | View 990 |
| 2013 | $834 | $3K | $25K | $0 | — | View 990 |
| 2012 | $646 | $42K | $27K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $561, expenses of $1K, and assets of $45K (revenue +55.4% year-over-year).
- 2023: Revenue of $361, expenses of $2K, and assets of $45K (revenue -43.1% year-over-year).
- 2022: Revenue of $634, expenses of $20K, and assets of $47K (revenue +49.2% year-over-year).
- 2021: Revenue of $425, expenses of $2K, and assets of $65K (revenue -99.7% year-over-year).
- 2020: Revenue of $125K, expenses of $84K, and assets of $67K (revenue -16.9% year-over-year).
- 2019: Revenue of $151K, expenses of $143K, and assets of $26K (revenue +30784.5% year-over-year).
- 2015: Revenue of $489, expenses of $3K, and assets of $20K (revenue -19.0% year-over-year).
- 2014: Revenue of $604, expenses of $3K, and assets of $23K (revenue -27.6% year-over-year).
- 2013: Revenue of $834, expenses of $3K, and assets of $25K (revenue +29.1% year-over-year).
- 2012: Revenue of $646, expenses of $42K, and assets of $27K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harmon Foundation:
Data Sources and Methodology
This transparency report for Harmon 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.