Harbors Edge Foundation Inc

EIN: 262260106 501(c)(3) Crime & Legal

Norfolk, VA

Total Revenue
$232,354
Total Expenses
$322,447
Total Assets
$2,832,001
Net Assets
$2,832,001
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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
VA
Principal Officer
Timothy A Coyle
Phone
7576167952
Tax Period
2023-10-01 to 2024-09-30

Harbors Edge Foundation Inc, founded in 2008, is a small nonprofit in the Crime & Legal sector that reported $232K in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $322K exceeded revenue, resulting in a 39% operating deficit.

Mission

The Organization was formed exclusively for the purpose of supporting Fort Norfolk Retirement Community, Inc. ("FNRC") and furthering the charitable purposes of FNRC by improving the lives of persons age 62 and older living in Hampton Roads, Virginia, by (i) enabling such persons to reside at the continuing care retirement community owned and operated by FNRC, or similar facilities, (ii) enabling such persons who are identified as those needing assistance to reside at quality assisted living facilities or skilled nursing facilities, (iii) enabling such persons to participate in quality programs offering services designed to meet the physical, emotional, recreational, social or health needs of such persons and/or (iv) making grants to charitable organizations exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code that provide housing and/or services designed to meet the physical, emotional, recreational, social or health needs of such persons.

Program Service Accomplishments

Program 1
Expenses: $274,525

Harbor's Edge Foundation made grants to Fort Norfolk Retirement Community, its supported organization, for the support of its residents.

Program 2
Expenses: $33,631

Harbor's Edge Foundation made grants to Fort Norfolk Retirement Community, its supported organization, for the reimbursement of the Executive Director's salary.

Program 3
Expenses: $3,406

Harbor's Edge Foundation made grants to various charities to support their general operations.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $151,060
Program Service Revenue $0
Investment Income $60,513
Other Revenue $20,781
TOTAL REVENUE $232,354

Expense Breakdown

Grants Paid $311,562
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $311,562
Other Expenses $10,885
TOTAL EXPENSES $322,447

Year-over-Year Comparison

2023 2022 Change
Revenue $232,354 $159,368 +0.5%
Expenses $322,447 $166,659 +0.9%
Net Income $-90,093 $-7,291 +11.4%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$33,631
Total Directors
13
$33,631
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Robert A Heely Executive Dir. 1.00
Officer Director
$0 $0 $33,631
Virginia Bergsten Director 1.00
Director
$0 $0 $0
Timothy A Coyle Chair 1.00
Officer Director
$0 $0 $0
Kirkland M Kelley Vice Chair 1.00
Officer Director
$0 $0 $0
Pam Kloeppel Director 1.00
Director
$0 $0 $0
Heather Martin Secretary 1.00
Officer Director
$0 $0 $0
Karen Priest Director 1.00
Director
$0 $0 $0
Michael Walker Treasurer 1.00
Officer Director
$0 $0 $0
Angela Kerns Director 1.00
Director
$0 $0 $0
Paige Romig Director 1.00
Director
$0 $0 $0
John Trinder Director 1.00
Director
$0 $0 $0
Sandy Harris Director 1.00
Director
$0 $0 $0
Dr Catesby Ware Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $232,354 $322,447 $2,832,001 $-90,093
2023 $159,368 $166,659 $2,595,150 $-7,291
2022 $296,303 $35,842 $2,364,135 $260,461
2021 $144,681 $18,829 $2,460,364 $125,852
2020 $581,357 $13,298 $2,097,621 $568,059
2019 $423,953 $14,776 $1,611,901 $409,177
2018 $380,197 $5,262 $1,104,715 $374,935
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