Safe Harbor Inc

Nonprofit profile at a glance

EIN
222579445
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Westbrook, CT, USA
Phone
8603985425
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$363,270
Expenses
$346,669
Assets
$1,103,292
Liabilities
$849,651

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

Leadership & pay

4 people listed

Executive titles in this filing

  • TERI GAVIGAN (PRESIDENT)

People named in this filing

  • TERI GAVIGAN (PRESIDENT)
  • CHRIS EHLERT (TREASURER)
  • WAYNE HENRY (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The corporation owns and operates 24 units of low-income elderly housing, which is subsidized by rural development.

What it reported doing in 2024

Rental of 24 units for low-income elderly housing.

Operating model

Revenue model
Earned-program. 70% of the money available for current operations came from fees and other program 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 53
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.4%; rating input score 85
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.6%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 3.18; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 85.4% of revenue deployed · 86.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $301K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.