HARBOR DISTRICT 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

2014

Legal Domicile

Principal Officer

CYNTHIA TORHORST

Phone

4146431266

Tax Period

2024-07-01 to 2025-06-30

HARBOR DISTRICT INC, founded in 2014, is a community nonprofit in the Environment sector that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $975K left a modest 14% surplus.

Mission

THE MISSION OF HARBOR DISTRICT, INC. IS TO LEAD THE REVITALIZATION OF MILWAUKEES HARBOR DISTRICT BY CONNECTING PEOPLE, SUPPORTING A HEALTHY BUSINESS COMMUNITY, AND IMPROVING THE QUALITY OF OUR NATURAL ENVIRONMENT.

Program Service Accomplishments

Program 1

Expenses: $872,886 Revenue: $80,027

In the 2024-25 fiscal year, Harbor District, Inc. offered community events; provided support and connections to other resources for business in our district; organized summer events for 2025; held a community festival in partnership with two other organizations to educate and entertain them public on all things fish, water and boats, and planned new public spaces and improvements to 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,107,199

Program Service Revenue $80,027

Investment Income $2,069

Other Revenue $-52,846

TOTAL REVENUE $1,136,449

Expense Breakdown

Grants Paid $0

Salaries & Benefits $327,440

Fundraising Expenses $44,665

Program Expenses $872,886

Other Expenses $647,997

TOTAL EXPENSES $975,437

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,136,449	$981,154	+0.2%
Expenses	$975,437	$931,191	+0.0%
Net Income	$161,012	$49,963	+2.2%

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

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

$115,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CYNTHIA TORHORST	CEO	40.00	Officer	$115,000	$0	$115,000
ROSAMARIA MARTINEZ	PRESIDENT	5.00	Officer Director	$0	$0	$0
JOHN KOETZ	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
PAULINA ESPERANZA GUTIERREZ	SECRETARY	2.00	Officer Director	$0	$0	$0
NAHID AFSARI	TREASURER	2.00	Officer Director	$0	$0	$0
JACKIE CARTER	DIRECTOR	2.00	Director	$0	$0	$0
LAFAYETTE CRUMP	DIRECTOR	2.00	Director	$0	$0	$0
PATRICIA HOBEN	DIRECTOR	2.00	Director	$0	$0	$0
NATANAEL MARTINEZ	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER NELSON	DIRECTOR	2.00	Director	$0	$0	$0
TOM O'REILLY	DIRECTOR	2.00	Director	$0	$0	$0
JOLENA PRESTI	DIRECTOR	2.00	Director	$0	$0	$0
DAVID STEGEMAN	DIRECTOR	2.00	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	$1,136,449	$975,437	$1,779,736	$161,012
2024	$981,154	$931,191	$1,605,064	$49,963
2023	$574,781	$795,625	$1,722,450	$-220,844
2022	$790,285	$713,433	$1,839,847	$76,852
2021	$429,099	$504,286	$1,732,165	$-75,187
2020	$493,326	$493,465	$1,792,836	$-139
2019	$735,163	$373,535	$1,849,579	$361,628