Harbor Light Foundation

Analysis

Harbor Light Foundation is a registered charity in United States, based in Fairfield, CT. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 August 2023, Harbor Light Foundation reported income of $1.5m and spending of $1.5m, spending 104% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $980k to $1.5m (+50%), an average of +11% a year. The sharpest change came in the year to August 2023, when income rose by 18%. Over the whole period it spent 100% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Harbor Light Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Glen Cove Boys and Girls Club at Lincoln House Inc ($1.5m), Big Brothers Big Sisters of Central Mass Metrowest Inc ($1.5m) and Boys and Girls Club of the Arkansas River Valley ($1.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 3.6% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $131k (8.6% of expenses). Other salaries and wages came to $774k. At year end it held assets of $1.1m against liabilities of $653k, net assets of $493k. It reported 66 employees.