Harmony Community Development Corporation

Analysis

Harmony Community Development Corporation is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in April 2009, 17 years ago. 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 December 2023, Harmony Community Development Corporation reported income of $4.4m and spending of $4.3m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $827k to $4.4m (+437%), an average of +52% a year. The sharpest change came in the year to December 2020, when income rose by 254%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Harmony Community Development Corporation 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 91st percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Catholic Comm Foundation of the Archdiocese of Seattle ($4.4m), Agency of International Cooperation for Development ($4.4m) and Feminist Womens Health Center Inc ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $170k (4.0% of expenses). Other salaries and wages came to $1.0m. It paid $84k in professional fundraising fees. At year end it held assets of $3.4m against liabilities of $881k, net assets of $2.5m. It reported 29 employees.