HARBOR MINISTRIES LIFE TRAININ CEN… - Form 990 Financial Data

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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

1988

Legal Domicile

Principal Officer

LARRY G TURNER

Tax Period

2023-01-01 to 2023-12-31

HARBOR MINISTRIES LIFE TRAININ CENTER INC, founded in 1988, is a small nonprofit in the Mental Health sector that reported $309K in total revenue in fiscal year 2023. Expenses of $294K left a modest 5% surplus.

Mission

TO PROVIDE SERVICES AND TRAINING THROUGH A FAITH-BASED REHAB PROGRAM. OUR ORGANIZATION IS DEDICATED TO THE REBUILDING OF LIVES THROUGH GOD INSPIRED SELF HELP AND PRODUCTIVE ACTIVITIES TO REACH THIS GOAL.

Program Service Accomplishments

Program 1

Expenses: $194,011 Revenue: $204,135

HARBOR MINISTRIES OPERATES A THRIFT STORE TO RAISE FUNDS FOR THE

Program 2

Expenses: $26,456 Revenue: $27,836

HARBOR MINISTRIES HAS AN ACTIVE RECYCLING PROGRAM. THIS ALLOWS THE MEN

Program 3

Expenses: $73,489 Revenue: $77,324

HARBOR MINISTRIES ALSO SUPPORTS THE COMMUNITY IN THEIR EFFORTS TO

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $309,295

Investment Income $0

Other Revenue $0

TOTAL REVENUE $309,295

Expense Breakdown

Grants Paid $0

Salaries & Benefits $80,200

Fundraising Expenses $73,488

Program Expenses $293,956

Other Expenses $213,756

TOTAL EXPENSES $293,956

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,295	$317,683	0.0%
Expenses	$293,956	$304,586	0.0%
Net Income	$15,339	$13,097	+0.2%

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

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

$46,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY TURNER	PRESIDENT	55	Officer	$46,500	$0	$46,500
SHANE LAND	SECRETARY/TREA	1	Officer	$0	$0	$0
DAVE NORMAN	TRUSTEE	1	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	$309,295	$293,956	$363,764	$15,339
2022	$317,683	$304,586	$352,208	$13,097
2021	$322,742	$302,435	$351,829	$20,307
2020	$305,340	$286,766	$322,065	$18,574
2019	$308,588	$286,929	$316,155	$21,659
2018	$313,842	$296,009	$320,253	$17,833

HARBOR MINISTRIES LIFE TRAININ CENTER INC