Harbor District Inc

Nonprofit profile at a glance

EIN
471388101
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
4146431266
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Land Resources Conservation

Official website

Reported finances

Revenue
$1,136,449
Expenses
$975,437
Assets
$1,779,736
Liabilities
$56,854

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • CYNTHIA TORHORST (CEO)
  • ROSAMARIA MARTINEZ (PRESIDENT)
  • JOHN KOETZ (VICE PRESIDENT)

Highest reported compensation

  • CYNTHIA TORHORST (CEO): $115,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of harbor district, inc. Is to lead the revitalization of milwaukees harbor district by connecting people, supporting a healthy business community, and improving the quality of our natural environment.

What it reported doing in 2024

In the 2024-25 fiscal year, Harbor District, Inc. offered community events; provided support and connections to other resources for business in our district; organized summer events for 2025; held a community festival in partnership with two other organizations to educate and entertain them public on all things fish, water and boats, and planned new public spaces and improvements to our area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.8%; rating input score 77
  • Program expense ratio: 89.5%; rating input score 89
  • Fundraising efficiency: $24.79 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.2%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 1.82; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 18.1% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 76.8% of revenue deployed · 89.5% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $873K in reported program spending
  • Leadership: top reported pay $115K · 13 people listed
  • Highest-paid contractors: 1 contractor listed · $229K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.