Harbor Homes of Marthas Vineyard

Analysis

Harbor Homes of Marthas Vineyard is a registered charity in United States, based in Vineyard HVN, MA. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Homes of Marthas Vineyard reported income of $1.3m and spending of $603k, leaving 53% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $1.2m to $1.3m (+5.0%), an average of +2.5% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 38% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Harbor Homes of Marthas Vineyard sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Fields Edge ($1.3m), Cathedral Plaza Development Corporation ($1.3m) and Geriatric Living Solutions ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 4.6% of the total. Compensation of current officers, directors and key employees was $102k (17% of expenses). Other salaries and wages came to $183k. At year end it held assets of $2.9m against liabilities of $82k, net assets of $2.9m. It reported 15 employees.