Harborlight Community Partners

Analysis

Harborlight Community Partners is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in February 1982, 44 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Harborlight Community Partners reported income of $12.1m and spending of $4.6m, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $12.1m (+362%), an average of +47% a year. The sharpest change came in the year to December 2022, when income rose by 86%. Over the whole period it spent 51% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Harborlight Community Partners sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Greater Birmingham Habitat for Humanity Inc ($12.1m), Living Independently Forever Inc ($12.1m) and Housing Opportunity Corporation ($12.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $773k (17% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $61.2m against liabilities of $38.3m, net assets of $22.9m. It reported 57 employees.