Harbor 58 Ministries Inc

Nonprofit profile at a glance

EIN
473419578
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-N 2021
Location
Bradenton, FL, USA
Phone
9723361493
Rating
73
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Children's, Youth Services

Reported finances

Revenue
$656,393
Expenses
$196,417
Assets
$755,037
Liabilities
$945

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • MELISSA PARMENTER (EXECUTIVE DIRECTOR)
  • STEVEN COAD (PRESIDENT)

Highest reported compensation

  • MELISSA PARMENTER (EXECUTIVE DIRECTOR): $45,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Harbor58 is a safe haven that provides resources and support for youth that are aging out of foster care by empowering them to achieve their full potential.

What it reported doing in 2025

We walk alongside youth aging out of foster care through mentorship and transition support. We also serve system-impacted teens who are vulnerable and at risk, whether in foster care or not, through our moneytalks program, which teaches financial literacy and life skills to prepare them for independence. Recent statistics of participation: life skills class ("money talks") - 38 youth (12 class sessions, with total attendance of 111) mentorship - 10 youth were actively matched with one or more mentors in 2024 and still in progress, we launched our pilot housing program, renting a home for a small group of young adults to live with resident coaches. This model is already helping youth build stability and independence while experiencing consistent support. The next step is our cottage-style campus, where young adults will have a safe place to live for up to 18 months surrounded by support: on-site mental health care, life skills training, apprenticeship opportunities, and one-on-one mentorship.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 100
  • Accountability: 74
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.3%; rating input score 24
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $40.01 raised per $1 spent on fundraising; rating input score 71; 71st 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: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 70.1%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 3.84; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 22.9%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 82.2% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 61.4% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 58.6% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 24.3% of revenue deployed · 81.1% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $159K in reported program spending
  • Leadership: top reported pay $45K · 6 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2022 to 2025
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 24/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 13/100.