HARBOR SHORES PUBLIC ASSET FUND INC

EIN: 464405437 501(c)(3) Environment

BENTON HARBOR, MI

Total Revenue
$10,693,057
Total Expenses
$7,247,422
Total Assets
$30,761,667
Net Assets
$28,974,350
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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
2013
Legal Domicile
MI
Principal Officer
CHRISTOPHER J COOK
Phone
2699256100
Tax Period
2025-01-01 to 2025-12-31

HARBOR SHORES PUBLIC ASSET FUND INC, founded in 2013, is a mid-sized nonprofit in the Environment sector that reported $10.7M in total revenue in fiscal year 2025. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.4M, a strong 32% operating margin.

Mission

HARBOR SHORES PUBLIC ASSET FUND, INC. IS ENGAGED IN THE DEVELOPMENT AND IMPLEMENTATION OF ECONOMIC GROWTH IN PARTNERSHIP WITH LOCAL COMMUNITIES AND MUNICIPALITIES. IT OPERATES AS A SUPPORTING ORGANIZATION TO CORNERSTONE ALLIANCE, A PUBLIC CHARITY.

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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 (2025)

Revenue Breakdown

Contributions & Grants $7,293,161
Program Service Revenue $3,156,832
Investment Income $201,832
Other Revenue $41,232
TOTAL REVENUE $10,693,057

Expense Breakdown

Grants Paid $2,316,489
Salaries & Benefits $1,789,983
Fundraising Expenses $0
Program Expenses $6,533,570
Other Expenses $3,140,950
TOTAL EXPENSES $7,247,422

Year-over-Year Comparison

2025 2024 Change
Revenue $10,693,057 $8,466,820 +0.3%
Expenses $7,247,422 $7,429,497 0.0%
Net Income $3,445,635 $1,037,323 +2.3%
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

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Governance

Voting Members
5
Independent Members
5
Employees
100
Volunteers
50

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
2
$513,957
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF FETTIG DIRECTOR 1.00
Director
$0 $0 $0
PAM KLYN DIRECTOR 1.00
Director
$0 $0 $0
MIKE TODMAN DIRECTOR 1.00
Director
$0 $0 $0
SAM ABDELNOUR DIRECTOR 1.00
Director
$0 $0 $0
JOHN CAMERON JR DIRECTOR 1.00
Director
$0 $0 $0
JOSH DOXTATOR GENERAL MANAGER 40.00
Officer
$222,243 $18,000 $240,243
CHRIS COOK TREASURER 40.00
Officer
$247,714 $26,000 $273,714
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 $10,693,057 $7,247,422 $30,761,667 $3,445,635
2024 $8,466,820 $7,429,497 $26,671,890 $1,037,323
2023 $7,094,932 $6,261,224 $26,362,568 $833,708
2022 $6,344,021 $5,590,561 $25,339,428 $753,460
2021 $6,310,481 $7,096,668 $24,614,270 $-786,187
2020 $2,482,675 $8,191,372 $23,927,537 $-5,708,697
2019 $1,843,554 $4,103,169 $29,602,882 $-2,259,615
2018 $2,434,820 $3,837,819 $35,033,846 $-1,402,999
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