Harborlight Montessori School Inc

Analysis

Harborlight Montessori School Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in July 1980, 46 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harborlight Montessori School Inc reported income of $6.9m and spending of $5.8m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.5m to $6.9m (+53%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harborlight Montessori School Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include North Carolina Textile Foundation Inc ($6.9m), Kirkwood Community College Foundation ($6.9m) and University of Central Oklahoma FDN ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $263k (4.6% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $7.2m against liabilities of $3.1m, net assets of $4.2m. It reported 114 employees.