Harbor Shores Public Asset Fund Inc

Analysis

Harbor Shores Public Asset Fund Inc is a registered charity in United States, based in Benton Harbor, MI. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Harbor Shores Public Asset Fund Inc reported income of $7.1m and spending of $6.3m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $7.1m (+285%), an average of +40% a year. The sharpest change came in the year to December 2021, when income rose by 154%. Over the whole period it spent 130% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Harbor Shores Public Asset Fund Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include Genesee Valley Conservancy Inc ($7.1m), Urban Tilth ($7.1m) and Ecological Society of America Inc ($7.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $402k (6.4% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $26.4m against liabilities of $1.9m, net assets of $24.5m. It reported 112 employees.