Project Harmony Inc
Project Harmony Inc: Financial Stability Amidst Fluctuating Revenue
EIN: 222644556 · Waitsfield, VT · NTEE: Q230 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $7.0M |
| Total Expenses | $6.6M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $718K |
| Transparency Score | 85/100 |
Is Project Harmony Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Project Harmony Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Project Harmony Inc
Project Harmony Inc (EIN: 222644556) is a nonprofit organization based in Waitsfield, VT, classified under NTEE code Q230. The organization reported total revenue of $7.0M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Project Harmony Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Project Harmony Inc is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.5M |
| Total Expenses | $6.6M |
| Surplus / Deficit | $-57,611 |
| Total Assets | $1.6M |
| Total Liabilities | $850K |
| Net Assets | $718K |
| Operating Margin | -0.9% |
| Debt-to-Asset Ratio | 54.2% |
| Months of Reserves | 2.8 months |
Financial Health Grade: D
In 2023, Project Harmony Inc reported a deficit of $58K with expenses exceeding revenue, holds 2.8 months of operating reserves (limited), has a debt-to-asset ratio of 54.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Project Harmony Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +70.2% | +63.3% | +1.5% |
| 2022 | -25.8% | -21.9% | -26.3% |
| 2021 | -31.4% | -30.6% | -8.7% |
| 2020 | -1.3% | -1.3% | +10.5% |
| 2019 | +40.0% | +38.3% | +26.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Project Harmony 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, Project Harmony 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 $58K, with expenses exceeding revenue.
- Debt-to-asset ratio: 54.2%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting a volunteer-based leadership or that compensation is covered by an external entity, which warrants further investigation for clarity.
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 Project Harmony Inc's IRS 990 filings:
- Significant fluctuations in revenue, from a high of $7,661,993 in 2019 to a low of $3,847,888 in 2022, could indicate an unstable funding model or reliance on sporadic large grants.
- The consistent reporting of 0% compensation for key personnel, while potentially positive, could also obscure how leadership is truly compensated if through a related entity.
Strengths
The following positive indicators were identified for Project Harmony Inc:
- Despite revenue fluctuations, the organization has consistently maintained positive net assets, demonstrating financial resilience.
- The organization has a long operational history with publicly available financial data dating back to 2016, indicating transparency and longevity.
- Total assets have shown growth in recent years, from $1,309,278 in 2017 to $1,525,406 currently, suggesting prudent financial management.
Frequently Asked Questions about Project Harmony Inc
Is Project Harmony Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Project Harmony Inc (EIN: 222644556) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Project Harmony Inc spend its money?
Project Harmony Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Project Harmony Inc tax-deductible?
Project Harmony Inc is registered as a tax-exempt nonprofit (EIN: 222644556). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Project Harmony Inc CEO make?
Project Harmony Inc's highest-compensated officer earns $0 annually. The organization reported $7.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Project Harmony Inc's spending goes to programs?
Project Harmony Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Project Harmony Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Project Harmony Inc is above average for NTEE category Q230 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Project Harmony Inc located?
Project Harmony Inc is headquartered in Waitsfield, Vermont and files with the IRS under EIN 222644556. It is classified under NTEE code Q230.
How many years of IRS 990 filings does Project Harmony Inc have?
Project Harmony 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 $7.0M in total revenue.
What does Project Harmony Inc do?
Project Harmony Inc is a nonprofit organization in the International & Foreign Affairs sector, located in Waitsfield, Vermont. It is classified under NTEE code Q230.
How much revenue does Project Harmony Inc have?
Project Harmony Inc reported total revenue of $6,993,959. Based on 13 IRS 990 filings on record.
What are Project Harmony Inc's total assets?
Project Harmony Inc holds total assets of $1,525,406 as reported in IRS 990 filings.
Where is Project Harmony Inc located?
Project Harmony Inc is based in Waitsfield, Vermont.
What is Project Harmony Inc's EIN?
Project Harmony Inc's Employer Identification Number (EIN) is 222644556. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Project Harmony Inc?
Project Harmony Inc is classified under NTEE code Q230 (International & Foreign Affairs).
Is Project Harmony Inc a registered 501(c)(3)?
Yes, Project Harmony Inc is recognized as a tax-exempt organization by the IRS. EIN: 222644556.
Does Project Harmony Inc file IRS Form 990?
Yes, Project Harmony Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Project Harmony Inc's revenue in 2023?
In the 202306 filing period, Project Harmony Inc reported total revenue of $6,549,534, total expenses of $6,607,145, and net assets of $1,567,609.
Is Project Harmony Inc's revenue growing or declining?
Project Harmony Inc's revenue is growing. Revenue went from $3,847,888 (202206) to $6,549,534 (202306), a +70.2% change. Based on 13 filings on record.
What is Project Harmony Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Project Harmony Inc covers tax period 202306. It shows revenue of $6,549,534, expenses of $6,607,145, total assets of $1,567,609, and liabilities of $850,071.
How much does Project Harmony Inc spend on programs vs administration?
Based on IRS 990 analysis, Project Harmony Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Project Harmony Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Project Harmony Inc appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Project Harmony Inc?
The following concerns were identified: Significant fluctuations in revenue, from a high of $7,661,993 in 2019 to a low of $3,847,888 in 2022, could indicate an unstable funding model or reliance on sporadic large grants.. The consistent reporting of 0% compensation for key personnel, while potentially positive, could also obscure how leadership is truly compensated if through a related entity.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Project Harmony Inc's strengths?
Positive indicators for Project Harmony Inc include: Despite revenue fluctuations, the organization has consistently maintained positive net assets, demonstrating financial resilience.. The organization has a long operational history with publicly available financial data dating back to 2016, indicating transparency and longevity.. Total assets have shown growth in recent years, from $1,309,278 in 2017 to $1,525,406 currently, suggesting prudent financial management.. These findings are derived from AI analysis of the organization's financial filings.
How does Project Harmony Inc compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting a volunteer-based leadership or that compensation is covered by an external entity, which warrants further investigation for clarity. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the reported 0% executive compensation, how does Project Harmony Inc. attract and retain leadership, and what is the true cost of leadership if not directly compensated by the organization?
The consistent reporting of $0 for executive compensation suggests either a fully volunteer-led organization or that leadership compensation is handled through a related entity or external funding source. Understanding this mechanism is crucial for a complete financial picture and to assess the sustainability of its leadership model.
What factors contribute to the significant year-over-year revenue volatility, and what strategies are in place to stabilize funding for long-term program sustainability?
Revenue has varied significantly, for example, dropping from $7,559,320 in 2020 to $3,847,888 in 2022. Identifying the root causes of these fluctuations (e.g., grant cycles, specific fundraising campaigns, economic factors) and understanding the organization's strategies to diversify funding sources are key to assessing its future financial stability.
Filing History
IRS 990 filing history for Project Harmony Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Project Harmony Inc's revenue has grown by 24.7%, moving from $5.3M to $6.5M. Total assets decreased by 7.6% over the same period, from $1.7M to $1.6M. Total functional expenses rose by 32.1%, from $5.0M to $6.6M. In its most recent filing year (2023), Project Harmony Inc reported a deficit of $58K, with expenses exceeding revenue. The organization holds $850K in liabilities against $1.6M in assets (debt-to-asset ratio: 54.2%), resulting in net assets of $718K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.5M | $6.6M | $1.6M | $850K | — | View 990 |
| 2022 | $3.8M | $4.0M | $1.5M | $782K | — | View 990 |
| 2021 | $5.2M | $5.2M | $2.1M | $1.1M | — | View 990 |
| 2020 | $7.6M | $7.5M | $2.3M | $1.4M | — | View 990 |
| 2019 | $7.7M | $7.6M | $2.1M | $1.2M | — | View 990 |
| 2018 | $5.5M | $5.5M | $1.6M | $914K | — | View 990 |
| 2017 | $6.0M | $5.9M | $1.3M | $580K | — | View 990 |
| 2016 | $4.9M | $4.9M | $1.5M | $871K | — | View 990 |
| 2015 | $5.0M | $5.1M | $1.3M | $699K | — | View 990 |
| 2014 | $5.7M | $5.7M | $1.4M | $605K | — | View 990 |
| 2013 | $6.2M | $6.5M | $1.9M | $1.3M | — | View 990 |
| 2012 | $6.0M | $6.0M | $1.6M | $534K | — | View 990 |
| 2011 | $5.3M | $5.0M | $1.7M | $668K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.5M, expenses of $6.6M, and assets of $1.6M (revenue +70.2% year-over-year).
- 2022: Revenue of $3.8M, expenses of $4.0M, and assets of $1.5M (revenue -25.8% year-over-year).
- 2021: Revenue of $5.2M, expenses of $5.2M, and assets of $2.1M (revenue -31.4% year-over-year).
- 2020: Revenue of $7.6M, expenses of $7.5M, and assets of $2.3M (revenue -1.3% year-over-year).
- 2019: Revenue of $7.7M, expenses of $7.6M, and assets of $2.1M (revenue +40.0% year-over-year).
- 2018: Revenue of $5.5M, expenses of $5.5M, and assets of $1.6M (revenue -8.9% year-over-year).
- 2017: Revenue of $6.0M, expenses of $5.9M, and assets of $1.3M (revenue +22.9% year-over-year).
- 2016: Revenue of $4.9M, expenses of $4.9M, and assets of $1.5M (revenue -2.2% year-over-year).
- 2015: Revenue of $5.0M, expenses of $5.1M, and assets of $1.3M (revenue -12.7% year-over-year).
- 2014: Revenue of $5.7M, expenses of $5.7M, and assets of $1.4M (revenue -7.1% year-over-year).
- 2013: Revenue of $6.2M, expenses of $6.5M, and assets of $1.9M (revenue +3.2% year-over-year).
- 2012: Revenue of $6.0M, expenses of $6.0M, and assets of $1.6M (revenue +13.7% year-over-year).
- 2011: Revenue of $5.3M, expenses of $5.0M, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Project Harmony Inc:
Data Sources and Methodology
This transparency report for Project Harmony 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.