Harmony Protection Group

Nonprofit profile at a glance

EIN
852377219
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Cabot, PA, USA
Phone
7243521571
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Insurance Providers

Reported finances

Revenue
$4,603,027
Expenses
$2,651,448
Assets
$22,418,468
Liabilities
$3,011,565

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Keith Frndak-See Schedule O (Chair/President)

Highest reported compensation

  • Keith Frndak-See Schedule O (Chair/President): $905,273 total reported compensation
  • Brian Hortert-See Schedule O (Board Member): $551,892 total reported compensation
  • Michael Falbo-See Schedule O (Treasurer): $358,686 total reported compensation

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

Overview

Mission

Harmony Protection Group's charitable purpose is to provide insurance coverage to and further the mission and purpose of affiliate 501(c)(3) organizations.

What it reported doing in 2024

Harmony Protection Group's exists solely to support the operations of Concordia Care Network (CCN) (EIN 47-3508524) and its 501(c)(3) affiliates. CCN and its affiliates provide care to primarily seniors such as skilled nursing, rehab, personal care, assisted living, memory support, independent living, physician services, home care, home health care, hospice, adult day services, durable medical equipment, and pharmacy. Each affiliate supported by the organization is listed in the Articles of Incorporation. On an annual basis, CCN and its affiliates serve between 35,000 and 40,000 people. Harmony Protection Group helps support this ministry by providing affordable insurance services to CCN and its affiliates. By providing low cost insurance coverage, the entity allows CCN and its affiliates to pass on the savings by offering its residents and patients compassionate services while charging fees lower than the surrounding market.

Operating model

Revenue model
Other-operating. 92% of the money available for current operations came from other operating revenue.
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.

The verdict

MIXED - A large share of available resources goes toward mission work and revenue comfortably covers expenses. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 39
  • Accountability: 32
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.2%; rating input score 61
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.4%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 8.46; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 47.7% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -17.8% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 61.2% of revenue deployed · 99.9% of spending went to programs
  • Governance: 0 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $905K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 21 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.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.