Harbor Incorporated

Analysis

Harbor Incorporated is a registered charity in United States, based in Smithfield, NC. It received its IRS tax-exemption ruling in December 1984, 42 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 June 2023, Harbor Incorporated reported income of $1.4m and spending of $984k, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $559k to $1.4m (+151%), an average of +26% a year. The sharpest change came in the year to June 2020, when income rose by 90%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Harbor Incorporated sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include The Parents Information and Resource Center Inc ($1.4m), Goliad County Livestock Exposition Incorporated ($1.4m) and Jasons Friends Foundation Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $85k (8.6% of expenses). Other salaries and wages came to $420k. At year end it held assets of $2.4m against liabilities of $1.1m, net assets of $1.4m. It reported 21 employees.