HARBORQUEST INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1970

Legal Domicile

Principal Officer

MARK G MULROE

Phone

7734358338

Tax Period

2024-07-01 to 2025-06-30

HARBORQUEST INC, founded in 1970, is a community nonprofit in the Employment sector that reported $1.0M in total revenue in fiscal year 2024. Revenue fell 56% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 37% operating deficit.

Mission

TO PROVIDE OPPORTUNITY FOR A BETTER LIFE THROUGH APPROPRIATE EMPLOYMENT FOR THOSE DISENFRANCHISED FROM THE MAINSTREAM ECONOMY.

Program Service Accomplishments

Program 1

Expenses: $1,404,358 Revenue: $1,027,009

CIVIC STAFFING LC3, HARBORQUEST'S WHOLLY OWNED SUBSIDIARY, IS AN ALTERNATIVE TEMPORARY STAFFING AGENCY WHOSE MISSION IS TO HARNESS THE POWER OF THE STAFFING INDUSTRY TO BATTLE URBAN POVERTY...

CIVIC STAFFING LC3, HARBORQUEST'S WHOLLY OWNED SUBSIDIARY, IS AN ALTERNATIVE TEMPORARY STAFFING AGENCY WHOSE MISSION IS TO HARNESS THE POWER OF THE STAFFING INDUSTRY TO BATTLE URBAN POVERTY. DISADVANTAGED WORKERS ARE PLACED IN LIGHT-INDUSTRIAL MANUFACTURING AND WAREHOUSE ENVIRONMENTS. THESE CUSTOMER COMPANIES ARE ENCOURAGED TO HIRE THE WORKERS BASED ON THEIR PERFORMANCE IN A TEMPORARY JOB AS WELL AS PROVIDING ON THE JOB WORK EXPERIENCE. CIVIC STAFFING ALLOWS THE ORGANIZATION TO OFFER PRIVATE SECTOR JOB SAMPLING, ON-SITE COACHING AND PERFORMANCE ASSESSMENTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,027,009

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,027,009

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,254,167

Fundraising Expenses $0

Program Expenses $1,404,358

Other Expenses $150,191

TOTAL EXPENSES $1,404,358

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,027,009	$2,309,117	-0.6%
Expenses	$1,404,358	$2,350,447	-0.4%
Net Income	$-377,349	$-41,330	+8.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

155

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK G MULROE	PRESIDENT	4.00	Officer Director	$0	$0	$0
DIANE MULROE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LOSCH	DIRECTOR	1.00	Director	$0	$0	$0
SAMUEL MULROE	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
2025	$1,027,009	$1,404,358	$13,215	$-377,349
2024	No data	No data	No data	No data
2023	$2,201,605	$2,226,192	$571,983	$-24,587
2022	$5,141,149	$5,073,455	$641,071	$67,694
2021	$5,602,767	$5,157,999	$701,084	$444,768
2020	$3,203,124	$3,359,659	$807,389	$-156,535
2019	$3,439,373	$3,299,576	$202,077	$139,797
2018	$3,979,902	$3,760,377	$312,443	$219,525