Harmony Foundation Inc

Analysis

Harmony Foundation Inc is a registered charity in United States, based in Estes Park, CO. It received its IRS tax-exemption ruling in March 1961, 65 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Harmony Foundation Inc reported income of $9.4m and spending of $10.5m, spending 111% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $11.1m to $9.4m (-15%), an average of -3.3% a year. The sharpest change came in the year to June 2023, when income rose by 30%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Harmony Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CO. Charities of a similar size with the same main cause include Equip for Equality Inc ($9.4m), National Center on Education & the Economy ($9.4m) and Heart of Illinois United Way Inc ($9.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $381k (3.6% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $9.3m against liabilities of $4.8m, net assets of $4.5m. It reported 130 employees.