HARBOR TOWNS INC (EIN 873875262) - Form 990 Financial Analysis & Trantor Score

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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

2021

Legal Domicile

Principal Officer

NICHOLAS DIDOW

Phone

9198017156

Tax Period

2024-01-01 to 2024-12-31

HARBOR TOWNS INC, founded in 2021, is a small nonprofit that reported $195K in total revenue in fiscal year 2024. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 452% operating deficit.

Mission

INCREASE TOURISM, MAXIMIZE ECONOMIC IMPACT, CREATE JOBS, AND ACT SUSTAINABLY.

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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 $99,456

Investment Income $22,406

Other Revenue $72,802

TOTAL REVENUE $194,664

Expense Breakdown

Grants Paid $0

Salaries & Benefits $91,500

Fundraising Expenses $0

Program Expenses $684,616

Other Expenses $983,744

TOTAL EXPENSES $1,075,244

Year-over-Year Comparison

	2024	2023	Change
Revenue	$194,664	$10,089,728	-1.0%
Expenses	$1,075,244	$827,177	+0.3%
Net Income	$-880,580	$9,262,551	-1.1%

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

N/A

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

$91,500

Total Directors

$91,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICHOLAS DIDOW	PRESIDENT AND CEO	1.00	Officer Director	$30,000	$0	$30,000
PHILIP MCMULLAN	VICE-PRESIDENT	1.00	Officer Director	$7,500	$0	$7,500
PETER THOMSON	TREASURER	1.00	Officer Director	$36,000	$0	$36,000
ESTELLE SANDERS	SECRETARY (THRU 10/2024)	1.00	Officer Director	$18,000	$0	$18,000
EDWARD GOODWIN	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
2024	$194,664	$1,075,244	$13,824,192	$-880,580
2023	$10,089,728	$827,177	$14,591,041	$9,262,551
2022	$5,012,408	$367,874	$4,644,634	$4,644,534

HARBOR TOWNS INC