Harbor School Corporation

Analysis

Harbor School Corporation is a registered charity in United States, based in Potomac, MD. It received its IRS tax-exemption ruling in April 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harbor School Corporation reported income of $2.3m and spending of $2.3m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $2.3m (+28%), an average of +6.5% a year. The sharpest change came in the year to June 2022, when income rose by 77%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harbor School Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include Rivers Edge Academy Charter School ($2.3m), Thrive Foundation ($2.3m) and Texas a & M University-Corpus Christi Foundation Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $291k (13% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $3.1m against liabilities of $2.1m, net assets of $957k. It reported 42 employees.