Harbor Homes Inc

Nonprofit profile at a glance

EIN
020351932
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Nashua, NH, USA
Phone
6038823616
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$39,285,133
Expenses
$41,909,196
Assets
$29,108,002
Liabilities
$23,264,825

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

Leadership & pay

24 people listed

Executive titles in this filing

  • Henry Och (CEO)

Highest reported compensation

  • Henry Och (CEO): $294,320 total reported compensation
  • William Belecz (COO): $283,170 total reported compensation
  • Ana Pancine (CFO): $275,480 total reported compensation

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

Overview

Mission

Harbor Care's mission is to provide vital services, including housing and healthcare to all in our communities needing assistance. Our vision is one where everyone gets to live safe, stable, and healthy lives, filled with purpose, respect and dignity.

What it reported doing in 2024

Harbor Care is an innovative nonprofit providing health care, housing and human services helping adults, children, and families of New Hampshire find solutions to many of life's most challenging issues. We provide high quality housing and residential services, primary and behavioral health care, substance use disorder treatment, home care, HIV/AIDS care, veteran services, employment supports, and supports to individuals and families who are experiencing or at risk of homelessness. Our unique model allows us to provide the wide range of collaborative services people need to gain and sustain independence. Each year, Harbor Care provides integrated care and housing to thousands of New Hampshire community members statewide, with a focus on the Greater Nashua, Manchester, Salem, Antrim, Plymouth, Claremont, Keene, and southern New Hampshire regions.

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 82% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.4%; rating input score 87
  • Program expense ratio: 81.9%; rating input score 82
  • Fundraising efficiency: $49.17 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 87.4% of revenue deployed · 81.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $34.3M in reported program spending
  • Leadership: top reported pay $294K · 24 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $191K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 18 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.