Ithaka Harbors Inc
Ithaka Harbors Inc shows consistent asset growth despite a recent operating deficit in 2023.
EIN: 133857105 · New York, NY · NTEE: V30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $132.2M |
| Total Expenses | $117.2M |
| Program Spending | 85% |
| Net Assets | $164.7M |
| Transparency Score | 85/100 |
Is Ithaka Harbors Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ithaka Harbors Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ithaka Harbors Inc
Ithaka Harbors Inc (EIN: 133857105) is a nonprofit organization based in New York, NY, classified under NTEE code V30. The organization reported total revenue of $132.2M and total assets of $375.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ithaka Harbors Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ithaka Harbors Inc is a major nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $106.0M |
| Total Expenses | $117.2M |
| Surplus / Deficit | $-11,166,273 |
| Total Assets | $342.2M |
| Total Liabilities | $177.5M |
| Net Assets | $164.7M |
| Operating Margin | -10.5% |
| Debt-to-Asset Ratio | 51.9% |
| Months of Reserves | 35.0 months |
Financial Health Grade: C
In 2023, Ithaka Harbors Inc reported a deficit of $11.2M with expenses exceeding revenue, holds 35.0 months of operating reserves (strong position), has a debt-to-asset ratio of 51.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Ithaka Harbors Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.9% | +9.3% | +11.7% |
| 2022 | -6.2% | +6.0% | -7.1% |
| 2021 | +14.7% | -0.4% | +17.4% |
| 2020 | +2.1% | -1.5% | +18.5% |
| 2019 | +11.3% | +16.1% | +24.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Ithaka Harbors 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Ithaka Harbors Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $11.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 51.9%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is unusual for an organization of this size and revenue. This suggests that executive compensation may be reported under different categories, or the organization has a unique compensation structure for its leadership.
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 Ithaka Harbors Inc's IRS 990 filings:
- Operating deficit in 2023 ($11,166,273)
- Consistent 0% officer compensation reported, which is unusual for an organization of this scale and could indicate a lack of transparency in executive pay reporting.
Strengths
The following positive indicators were identified for Ithaka Harbors Inc:
- Consistent growth in assets over the past decade, from $156,592,109 in 2014 to $342,158,088 in 2023, indicating strong financial stewardship.
- Substantial revenue base, with latest reported revenue at $132,199,305.
- History of operating surpluses in most years prior to 2023, demonstrating financial health.
- Low liabilities relative to assets, with liabilities at $177,487,287 against assets of $342,158,088 in 2023, suggesting a healthy balance sheet.
Frequently Asked Questions about Ithaka Harbors Inc
Is Ithaka Harbors Inc a legitimate charity?
Ithaka Harbors Inc (EIN: 133857105) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $132.2M. 2 red flags identified. 4 strengths noted. Financial health grade: C.
How does Ithaka Harbors Inc spend its money?
Ithaka Harbors Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Ithaka Harbors Inc tax-deductible?
Ithaka Harbors Inc is registered as a tax-exempt nonprofit (EIN: 133857105). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Ithaka Harbors Inc's spending goes to programs?
Ithaka Harbors Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Ithaka Harbors Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Ithaka Harbors Inc is above average for NTEE category V30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Ithaka Harbors Inc located?
Ithaka Harbors Inc is headquartered in New York, New York and files with the IRS under EIN 133857105. It is classified under NTEE code V30.
How many years of IRS 990 filings does Ithaka Harbors Inc have?
Ithaka Harbors 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 $132.2M in total revenue.
Is Ithaka Harbors Inc a good charity?
Based on its consistent asset growth and the absence of reported officer compensation, Ithaka Harbors Inc appears to be a financially stable organization. However, the 2023 operating deficit warrants further investigation into its spending and revenue generation strategies. The lack of detailed officer compensation in public filings could be a point of concern for some donors seeking full transparency.
What caused the 2023 operating deficit?
The provided data shows that in 2023, expenses ($117,196,703) exceeded revenue ($106,030,430) by over $11 million. Without more detailed financial statements, the specific causes of this deficit (e.g., increased program costs, investment losses, or decreased grant funding) cannot be determined from the summary data alone.
How does Ithaka Harbors Inc fund its operations?
With annual revenues consistently exceeding $100 million in recent years, Ithaka Harbors Inc likely relies on a mix of revenue streams, which for a V30 NTEE code organization could include grants, contributions, investment income, and potentially fees for services related to its mission of supporting education and research. The latest revenue of $132,199,305 indicates a substantial funding base.
Filing History
IRS 990 filing history for Ithaka Harbors Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ithaka Harbors Inc's revenue has grown by 65.2%, moving from $64.2M to $106.0M. Total assets increased by 214.6% over the same period, from $108.8M to $342.2M. Total functional expenses rose by 82.7%, from $64.1M to $117.2M. In its most recent filing year (2023), Ithaka Harbors Inc reported a deficit of $11.2M, with expenses exceeding revenue. The organization holds $177.5M in liabilities against $342.2M in assets (debt-to-asset ratio: 51.9%), resulting in net assets of $164.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $106.0M | $117.2M | $342.2M | $177.5M | — | View 990 |
| 2022 | $115.2M | $107.2M | $306.2M | $170.3M | — | View 990 |
| 2021 | $122.8M | $101.2M | $329.7M | $141.1M | — | View 990 |
| 2020 | $107.0M | $101.6M | $280.8M | $125.4M | — | View 990 |
| 2019 | $104.8M | $103.2M | $236.9M | $114.9M | — | View 990 |
| 2018 | $94.2M | $88.9M | $191.1M | $95.5M | — | View 990 |
| 2017 | $104.9M | $88.4M | $192.9M | $82.7M | — | View 990 |
| 2016 | $89.5M | $87.5M | $165.9M | $78.9M | — | View 990 |
| 2015 | $86.4M | $82.6M | $159.4M | $74.3M | — | View 990 |
| 2014 | $85.7M | $77.2M | $156.6M | $66.9M | — | View 990 |
| 2013 | $86.0M | $74.7M | $151.9M | $63.9M | — | View 990 |
| 2012 | $71.5M | $72.9M | $129.8M | $56.1M | — | View 990 |
| 2011 | $64.2M | $64.1M | $108.8M | $40.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $106.0M, expenses of $117.2M, and assets of $342.2M (revenue -7.9% year-over-year).
- 2022: Revenue of $115.2M, expenses of $107.2M, and assets of $306.2M (revenue -6.2% year-over-year).
- 2021: Revenue of $122.8M, expenses of $101.2M, and assets of $329.7M (revenue +14.7% year-over-year).
- 2020: Revenue of $107.0M, expenses of $101.6M, and assets of $280.8M (revenue +2.1% year-over-year).
- 2019: Revenue of $104.8M, expenses of $103.2M, and assets of $236.9M (revenue +11.3% year-over-year).
- 2018: Revenue of $94.2M, expenses of $88.9M, and assets of $191.1M (revenue -10.2% year-over-year).
- 2017: Revenue of $104.9M, expenses of $88.4M, and assets of $192.9M (revenue +17.2% year-over-year).
- 2016: Revenue of $89.5M, expenses of $87.5M, and assets of $165.9M (revenue +3.6% year-over-year).
- 2015: Revenue of $86.4M, expenses of $82.6M, and assets of $159.4M (revenue +0.8% year-over-year).
- 2014: Revenue of $85.7M, expenses of $77.2M, and assets of $156.6M (revenue -0.3% year-over-year).
- 2013: Revenue of $86.0M, expenses of $74.7M, and assets of $151.9M (revenue +20.3% year-over-year).
- 2012: Revenue of $71.5M, expenses of $72.9M, and assets of $129.8M (revenue +11.3% year-over-year).
- 2011: Revenue of $64.2M, expenses of $64.1M, and assets of $108.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ithaka Harbors Inc:
Data Sources and Methodology
This transparency report for Ithaka Harbors 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.