Digital Harbor Foundation Inc

Analysis

Digital Harbor Foundation Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Digital Harbor Foundation Inc reported income of $29.9m and spending of $15.4m, leaving 48% of income unspent that year. Across the 5 years on record, from June 2020 to December 2023, income grew from $1.6m to $29.9m (+1735%), an average of +107% a year. The sharpest change came in the year to December 2020, when income rose by 209%. Over the whole period it spent 51% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Digital Harbor Foundation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Catholic Schools Foundation Inc ($29.9m), Florida Gulf Coast University Foundation Inc ($29.9m) and The University of Toledo Foundation ($29.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $340k (2.2% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $30.6m against liabilities of $165k, net assets of $30.4m. It reported 68 employees.