Harmony Institute Inc

Analysis

Harmony Institute Inc is a registered charity in United States, based in North Potomac, MD. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2020, Harmony Institute Inc reported income of $146k and spending of $153k, spending 105% of what it took in. Across the 2 years on record, from December 2019 to December 2020, income fell from $279k to $146k (-48%), an average of -48% a year. The sharpest change came in the year to December 2020, when income dropped by 48%. Over the whole period it spent 63% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Harmony Institute Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 47th percentile within MD. Charities of a similar size with the same main cause include St Peter Conference ($146k), Saint Louis Camp Meeting Association of the Church of God ($146k) and Duffield Camp and Retreat Center Inc ($146k).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 59% of the total. At year end it held assets of $247k against liabilities of $0, net assets of $247k.