Harmony Services Inc

Analysis

Harmony Services Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 2007, 19 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harmony Services Inc reported income of $7.8m and spending of $6.5m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.9m to $7.8m (+59%), an average of +12% a year. The sharpest change came in the year to June 2020, when income rose by 46%. Over the whole period it spent 83% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Harmony Services Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Gaudenzia Foundation ($7.8m), Baltic Street Aeh Inc ($7.8m) and Leyden Family Service and Mental Health Center ($7.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.7% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $533k (8.2% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $11.1m against liabilities of $4.3m, net assets of $6.8m. It reported 108 employees.