FAIRHAVEN INDUSTRIES INC

EIN: 341023491 501(c)(3) Employment

WARREN, OH

Total Revenue
$5,343,544
Total Expenses
$5,440,305
Total Assets
$2,924,762
Net Assets
$1,872,496
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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
OH
Principal Officer
GEORGE ECONOMIDES
Phone
3308477275
Tax Period
2023-01-01 to 2023-12-31

FAIRHAVEN INDUSTRIES INC, founded in 1967, is a community nonprofit in the Employment sector that reported $5.3M in total revenue in fiscal year 2023.

Mission

MISSION STATEMENT: TO PROVIDE EXCELLENT SERVICES WHILE KEEPING ALL PROGRAM OPTIONS AVAILABLE WHILE ALSO EXPANDING OPTIONS TO REACH EVERY POTENTIAL INDIVIDUAL IN OUR PROGRAM. WE BELIEVE THAT PERSON-CENTERED, FREE THINKING PLANNING SHOULD BE THE FIRST STEP IN PROVIDING EXCELLENT SERVICES AND DEVELOPING NEW AND EXCITING PROGRAMS AND JOBS. FAIRHAVEN INDUSTRIES, INC. WILL FOCUS ON TEAM FIRST, POSITIVE TRAINING WHERE ALL EMPLOYEES ARE CONSIDERED TEAM MEMBERS AND WILL WORK TOGETHER TO FOSTER A STRATEGIC PLAN THAT WILL TAKE US INTO THE FUTURE OF PROVIDING A VAST ARRAY OF SERVICES. FAIRHAVEN INDUSTRIES, INC. MAIN MISSION IS TO ASSIST THE INDIVIDUALS WHO CHOOSE OUR PROGRAM TO REACH THEIR DREAMS AND GOALS ON AN INDIVIDUAL BASIS WHILE FOSTERING RELATIONSHIPS INSIDE AND OUTSIDE THE WORKPLACE. WE WANT TO OFFER CAREERS AND PROGRAMS THAT ARE TAILORED TO EACH INDIVIDUAL'S PERSONAL GOALS. VISION STATEMENT: TO PROVIDE EXCELLENT AND DIVERSIFIED SUPPORT AND BE THE NUMBER ONE PROVIDER OF CHOICE IN OUR AREA.

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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 $385,539
Program Service Revenue $4,900,306
Investment Income $6,830
Other Revenue $50,869
TOTAL REVENUE $5,343,544

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,222,272
Fundraising Expenses $0
Program Expenses $4,207,522
Other Expenses $1,218,033
TOTAL EXPENSES $5,440,305

Year-over-Year Comparison

2023 2022 Change
Revenue $5,343,544 $5,316,557 +0.0%
Expenses $5,440,305 $5,149,020 +0.1%
Net Income $-96,761 $167,537 -1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
393
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
$103,701
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GEORGE PAROZ EXECUTIVE DI 40.00
Officer
$103,701 $0 $103,701
DIANE CORBIN TRUSTEE 1.00
Director
$0 $0 $0
GEORGE ECONOMIDES PRESIDENT 1.00
Officer Director
$0 $0 $0
GENE FRANCISCO VICE PRESIDE 1.00
Officer Director
$0 $0 $0
MARIE HILLMAN TREASURER 1.00
Officer Director
$0 $0 $0
MICHALENE HUGHLEY TRUSTEE 1.00
Director
$0 $0 $0
SHERRY MEANS TRUSTEE 1.00
Director
$0 $0 $0
RONALD MCINTOSH SECRETARY 1.00
Officer Director
$0 $0 $0
JENNY PARKER TRUSTEE 1.00
Director
$0 $0 $0
ELWOOD WALKER TRUSTEE 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 No data No data No data No data
2023 $5,343,544 $5,440,305 $2,924,762 $-96,761
2022 $5,316,557 $5,149,020 $2,781,232 $167,537
2021 $5,422,840 $4,584,992 $2,155,831 $837,848
2020 $4,464,964 $4,119,898 $1,224,605 $345,066
2019 $3,703,531 $3,534,519 $1,020,677 $169,012
2018 $1,815,597 $1,858,714 $691,497 $-43,117
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