Harbor 58 Ministries Inc

Analysis

Harbor 58 Ministries Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 April 2024, Harbor 58 Ministries Inc reported income of $162k and spending of $47k, leaving 71% of income unspent that year. Across the 2 years on record, from April 2023 to April 2024, income grew from $102k to $162k (+58%), an average of +58% a year. The sharpest change came in the year to April 2024, when income rose by 58%. Over the whole period it spent 27% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Harbor 58 Ministries Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 53rd percentile within FL. Charities of a similar size with the same main cause include Sierra Vista Symphony Association ($162k), Project Rooted Inc ($162k) and Crook County Rotary Foundation Inc ($161k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 92% and program service revenue 8.4% of the total. At year end it held assets of $221k against liabilities of $0, net assets of $221k.