Harmony Services Inc
Harmony Services Inc shows strong revenue growth and asset accumulation, but executive compensation reporting is consistently zero.
EIN: 201134350 · Brooklyn, NY · NTEE: E50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.3M |
| Total Expenses | $6.5M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $8 |
| Net Assets | $6.8M |
| Transparency Score | 75/100 |
Is Harmony Services Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harmony Services Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harmony Services Inc
Harmony Services Inc (EIN: 201134350) is a nonprofit organization based in Brooklyn, NY, classified under NTEE code E50. The organization reported total revenue of $8.3M and total assets of $11.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harmony Services Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harmony Services 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 5.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.8M |
| Total Expenses | $6.5M |
| Surplus / Deficit | +$1.3M |
| Total Assets | $11.1M |
| Total Liabilities | $4.3M |
| Net Assets | $6.8M |
| Operating Margin | 16.8% |
| Debt-to-Asset Ratio | 38.9% |
| Months of Reserves | 20.4 months |
Financial Health Grade: A
In 2023, Harmony Services Inc reported a surplus of $1.3M with revenue exceeding expenses, holds 20.4 months of operating reserves (strong position), has a debt-to-asset ratio of 38.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Harmony Services Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.3% | +3.7% | +68.0% |
| 2022 | +20.4% | +19.9% | +28.9% |
| 2021 | -6.3% | -2.5% | +34.7% |
| 2020 | +45.6% | -1.4% | +215.7% |
| 2019 | +12.7% | +1.5% | -24.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Harmony Services Inc with a Mission Score of 75 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Harmony Services Inc 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 surplus of $1.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 38.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all 13 available filings, which is highly unusual for an organization with over $8 million in annual revenue and significant assets. This either indicates a fully volunteer executive leadership or a lack of detailed compensation reporting.
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 Harmony Services Inc's IRS 990 filings:
- Consistent 0% officer compensation reported across all filings, which is unusual for an organization of this size.
- Significant increase in liabilities from $1,080,027 in 2022 to $4,310,138 in 2023 without immediate explanation in summary data.
Strengths
The following positive indicators were identified for Harmony Services Inc:
- Consistent revenue growth, from $4,241,622 in 2014 to $7,823,346 in 2023.
- Strong asset accumulation, growing from $1,278,620 in 2014 to $11,085,641 in 2023.
- Expenses consistently lower than revenue in recent years, indicating sound financial management (e.g., $6,505,357 expenses vs. $7,823,346 revenue in 2023).
- Long history of IRS 990 filings (13 periods), indicating compliance and transparency in reporting.
Frequently Asked Questions about Harmony Services Inc
Is Harmony Services Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Harmony Services Inc (EIN: 201134350) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Harmony Services Inc spend its money?
Harmony Services Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harmony Services Inc tax-deductible?
Harmony Services Inc is registered as a tax-exempt nonprofit (EIN: 201134350). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Harmony Services Inc CEO make?
Harmony Services Inc's highest-compensated officer earns $8 annually. The organization reported $8.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Harmony Services Inc's spending goes to programs?
Harmony Services Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Harmony Services Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Harmony Services Inc is above average for NTEE category E50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Harmony Services Inc located?
Harmony Services Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 201134350. It is classified under NTEE code E50.
How many years of IRS 990 filings does Harmony Services Inc have?
Harmony Services 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 $8.3M in total revenue.
Is Harmony Services Inc a good charity?
Harmony Services Inc demonstrates strong financial health with consistent revenue growth and significant asset accumulation. However, the consistent reporting of 0% officer compensation across all filings raises questions about transparency in executive pay, which could be a concern for some donors.
Why is officer compensation consistently reported as 0%?
The IRS 990 filings consistently show 0% officer compensation. This could mean the organization's executive leadership is entirely volunteer-based, or there might be an alternative reporting method for compensation not captured in this specific line item. Further inquiry directly with the organization would be needed to clarify.
What caused the significant increase in liabilities in 2023?
Liabilities increased from $1,080,027 in 2022 to $4,310,138 in 2023. The IRS 990 summary data does not specify the nature of these liabilities (e.g., program-related debt, capital expenditures, etc.), and further review of the full 990 form's balance sheet would be necessary to understand this substantial increase.
Filing History
IRS 990 filing history for Harmony Services Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Harmony Services Inc's revenue has grown by 84.3%, moving from $4.2M to $7.8M. Total assets increased by 749.5% over the same period, from $1.3M to $11.1M. Total functional expenses rose by 40.5%, from $4.6M to $6.5M. In its most recent filing year (2023), Harmony Services Inc reported a surplus of $1.3M, with revenue exceeding expenses. The organization holds $4.3M in liabilities against $11.1M in assets (debt-to-asset ratio: 38.9%), resulting in net assets of $6.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.8M | $6.5M | $11.1M | $4.3M | — | View 990 |
| 2022 | $8.1M | $6.3M | $6.6M | $1.1M | — | View 990 |
| 2021 | $6.7M | $5.2M | $5.1M | $1.4M | — | View 990 |
| 2020 | $7.2M | $5.4M | $3.8M | $1.6M | — | View 990 |
| 2019 | $4.9M | $5.4M | $1.2M | $783K | — | View 990 |
| 2018 | $4.4M | $5.4M | $1.6M | $653K | — | View 990 |
| 2017 | $4.8M | $4.8M | $2.3M | $328K | — | View 990 |
| 2016 | $4.6M | $4.3M | $2.4M | $443K | — | View 990 |
| 2015 | $4.9M | $3.8M | $2.3M | $607K | — | View 990 |
| 2014 | $4.2M | $3.4M | $1.3M | $205K | — | View 990 |
| 2013 | $2.6M | $3.2M | $934K | $540K | — | View 990 |
| 2012 | $4.3M | $4.1M | $1.6M | $597K | — | View 990 |
| 2011 | $4.2M | $4.6M | $1.3M | $584K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.8M, expenses of $6.5M, and assets of $11.1M (revenue -3.3% year-over-year).
- 2022: Revenue of $8.1M, expenses of $6.3M, and assets of $6.6M (revenue +20.4% year-over-year).
- 2021: Revenue of $6.7M, expenses of $5.2M, and assets of $5.1M (revenue -6.3% year-over-year).
- 2020: Revenue of $7.2M, expenses of $5.4M, and assets of $3.8M (revenue +45.6% year-over-year).
- 2019: Revenue of $4.9M, expenses of $5.4M, and assets of $1.2M (revenue +12.7% year-over-year).
- 2018: Revenue of $4.4M, expenses of $5.4M, and assets of $1.6M (revenue -8.2% year-over-year).
- 2017: Revenue of $4.8M, expenses of $4.8M, and assets of $2.3M (revenue +3.1% year-over-year).
- 2016: Revenue of $4.6M, expenses of $4.3M, and assets of $2.4M (revenue -5.3% year-over-year).
- 2015: Revenue of $4.9M, expenses of $3.8M, and assets of $2.3M (revenue +14.8% year-over-year).
- 2014: Revenue of $4.2M, expenses of $3.4M, and assets of $1.3M (revenue +64.6% year-over-year).
- 2013: Revenue of $2.6M, expenses of $3.2M, and assets of $934K (revenue -40.7% year-over-year).
- 2012: Revenue of $4.3M, expenses of $4.1M, and assets of $1.6M (revenue +2.3% year-over-year).
- 2011: Revenue of $4.2M, expenses of $4.6M, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harmony Services Inc:
Data Sources and Methodology
This transparency report for Harmony Services 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.