Harmony Family Services Inc

Analysis

Harmony Family Services Inc is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in September 1968, 58 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 August 2023, Harmony Family Services Inc reported income of $525k and spending of $546k, spending 104% of its income. Across the 6 years on record, from August 2017 to August 2023, income fell from $618k to $525k (-15%), an average of -3.2% a year. The sharpest change came in the year to August 2021, when income rose by 65%. 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, Harmony Family Services Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Connection Fund-Liberty Inc ($525k), Friends of Camp Natoma ($525k) and Pegasus Project Foundation ($525k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 83% and program service revenue 1.4% of the total. Other salaries and wages came to $302k. At year end it held assets of $1.9m against liabilities of $55k, net assets of $1.8m. It reported 18 employees.