Harris Financial Corp Bmo Us Sub Tr
Harris Financial Corp Bmo Us Sub Tr reports zero officer compensation and fluctuating revenues, with assets of $119,919 in 2023.
EIN: 205821502 · Atlanta, GA · NTEE: Y240 · Updated: 2026-03-28
Is Harris Financial Corp Bmo Us Sub Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harris Financial Corp Bmo Us Sub Tr directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harris Financial Corp Bmo Us Sub Tr
Harris Financial Corp Bmo Us Sub Tr (EIN: 205821502) is a nonprofit organization based in Atlanta, GA, classified under NTEE code Y240. The organization reported total revenue of $1.3M and total assets of $72K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harris Financial Corp Bmo Us Sub Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harris Financial Corp Bmo Us Sub Tr is a mid-size nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $751K |
| Total Expenses | $680K |
| Surplus / Deficit | +$72K |
| Total Assets | $120K |
| Net Assets | $120K |
| Operating Margin | 9.5% |
| Months of Reserves | 2.1 months |
Financial Health Grade: A
In 2023, Harris Financial Corp Bmo Us Sub Tr reported a surplus of $72K with revenue exceeding expenses, holds 2.1 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), Harris Financial Corp Bmo Us Sub Tr's revenue has declined at a compound annual growth rate (CAGR) of -9.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -31.3% | -45.0% | +148.8% |
| 2022 | -89.9% | -88.5% | -74.7% |
| 2021 | +3.0% | +1.6% | +279.1% |
| 2020 | +15.3% | +15.3% | +1.5% |
| 2019 | +14.8% | +15.2% | +3.3% |
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 Harris Financial Corp Bmo Us Sub Tr 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Harris Financial Corp Bmo Us Sub Tr allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 $72K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no funds are used for officer salaries, which is highly unusual for an organization of its size and revenue levels.
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 Harris Financial Corp Bmo Us Sub Tr's IRS 990 filings:
- Significant year-over-year revenue and expense volatility without clear explanation in public filings.
- NTEE code Y240 ('Other Investment Activities') is broad and lacks specific programmatic detail, making impact assessment difficult.
Strengths
The following positive indicators were identified for Harris Financial Corp Bmo Us Sub Tr:
- Consistently reports 0% officer compensation, indicating no funds are used for executive salaries.
- Consistently reports zero liabilities, suggesting strong financial solvency and no outstanding debts.
- High program spending ratio (100%) due to zero reported administrative and fundraising costs.
Frequently Asked Questions about Harris Financial Corp Bmo Us Sub Tr
Is Harris Financial Corp Bmo Us Sub Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Harris Financial Corp Bmo Us Sub Tr (EIN: 205821502) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Harris Financial Corp Bmo Us Sub Tr spend its money?
Harris Financial Corp Bmo Us Sub Tr directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harris Financial Corp Bmo Us Sub Tr tax-deductible?
Harris Financial Corp Bmo Us Sub Tr is registered as a tax-exempt nonprofit (EIN: 205821502). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the primary purpose or program activity of Harris Financial Corp Bmo Us Sub Tr, given its NTEE code Y240 and financial structure?
The NTEE code Y240 typically refers to 'Other Investment Activities'. Given the consistent reporting of zero officer compensation and the nature of its revenue and expenses, it suggests the organization might be involved in managing or distributing funds for specific investment-related purposes rather than traditional charitable programs.
How does Harris Financial Corp Bmo Us Sub Tr manage to operate with zero officer compensation?
The consistent reporting of zero officer compensation suggests that the organization may be entirely volunteer-run at the executive level, or that its operational structure is such that executive functions are handled by an affiliated entity or pro bono, without direct compensation from this specific entity.
What accounts for the significant fluctuations in revenue and expenses, such as the drop from $10.8 million in 2021 to $751,273 in 2023?
The large fluctuations in revenue and expenses could be due to the nature of its investment activities, potentially reflecting market performance, specific project cycles, or the timing of large grants or distributions related to its 'Other Investment Activities' NTEE code.
Filing History
IRS 990 filing history for Harris Financial Corp Bmo Us Sub Tr showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Harris Financial Corp Bmo Us Sub Tr's revenue has declined by 67.7%, moving from $2.3M to $751K. Total assets increased by 6815.7% over the same period, from $2K to $120K. Total functional expenses fell by 70.8%, from $2.3M to $680K. In its most recent filing year (2023), Harris Financial Corp Bmo Us Sub Tr reported a surplus of $72K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $751K | $680K | $120K | $0 | — | — |
| 2022 | $1.1M | $1.2M | $48K | $0 | — | View 990 |
| 2021 | $10.9M | $10.7M | $190K | $0 | — | View 990 |
| 2020 | $10.6M | $10.6M | $50K | $0 | — | View 990 |
| 2019 | $9.2M | $9.2M | $49K | $0 | — | — |
| 2018 | $8.0M | $7.9M | $48K | $0 | — | View 990 |
| 2017 | $7.7M | $7.7M | $21K | $0 | — | View 990 |
| 2016 | $7.2M | $7.2M | $18K | $0 | — | View 990 |
| 2015 | $3.7M | $3.7M | $18K | $0 | — | View 990 |
| 2014 | $6.2M | $6.2M | $18K | $0 | — | View 990 |
| 2013 | $8.4M | $8.6M | $7K | $0 | — | View 990 |
| 2012 | $2.8M | $2.6M | $175K | $0 | — | View 990 |
| 2011 | $2.3M | $2.3M | $2K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $751K, expenses of $680K, and assets of $120K (revenue -31.3% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.2M, and assets of $48K (revenue -89.9% year-over-year).
- 2021: Revenue of $10.9M, expenses of $10.7M, and assets of $190K (revenue +3.0% year-over-year).
- 2020: Revenue of $10.6M, expenses of $10.6M, and assets of $50K (revenue +15.3% year-over-year).
- 2019: Revenue of $9.2M, expenses of $9.2M, and assets of $49K (revenue +14.8% year-over-year).
- 2018: Revenue of $8.0M, expenses of $7.9M, and assets of $48K (revenue +3.5% year-over-year).
- 2017: Revenue of $7.7M, expenses of $7.7M, and assets of $21K (revenue +7.4% year-over-year).
- 2016: Revenue of $7.2M, expenses of $7.2M, and assets of $18K (revenue +95.9% year-over-year).
- 2015: Revenue of $3.7M, expenses of $3.7M, and assets of $18K (revenue -41.1% year-over-year).
- 2014: Revenue of $6.2M, expenses of $6.2M, and assets of $18K (revenue -26.2% year-over-year).
- 2013: Revenue of $8.4M, expenses of $8.6M, and assets of $7K (revenue +203.9% year-over-year).
- 2012: Revenue of $2.8M, expenses of $2.6M, and assets of $175K (revenue +19.0% year-over-year).
- 2011: Revenue of $2.3M, expenses of $2.3M, and assets of $2K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harris Financial Corp Bmo Us Sub Tr:
Data Sources and Methodology
This transparency report for Harris Financial Corp Bmo Us Sub Tr 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.