HARMONY HOUSE INC

EIN: 900719742 501(c)(3) Housing & Shelter

AKRON, OH

Total Revenue
$872,109
Total Expenses
$734,363
Total Assets
$382,094
Net Assets
$352,566
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
OH
Principal Officer
KARLA MCDDAY
Phone
3308362100
Tax Period
2024-01-01 to 2024-12-31

HARMONY HOUSE INC, founded in 2009, is a small nonprofit in the Housing & Shelter sector that reported $872K in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $138K, a strong 16% operating margin.

Mission

HARMONY HOUSE IS AN EMERGENCY SUPPORTIVE HOUSING PROGRAM FOR YOUNG PEOPLE AGES 18-24. HARMONY HOUSE PROVIDES EMERGENCY HOUSING, TRANSITIONAL HOUSING, RAPID REHOUSING AND INCLEMENT WEATHER SHELTER. HARMONY HOUSE IS THE ONLY PROGRAM OF ITS KIND IN SUMMIT COUNTY, OHIO.

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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 (2024)

Revenue Breakdown

Contributions & Grants $869,334
Program Service Revenue $2,775
Investment Income $0
Other Revenue $0
TOTAL REVENUE $872,109

Expense Breakdown

Grants Paid $231,485
Salaries & Benefits $382,966
Fundraising Expenses $0
Program Expenses $643,258
Other Expenses $119,912
TOTAL EXPENSES $734,363

Year-over-Year Comparison

2024 2023 Change
Revenue $872,109 $665,129 +0.3%
Expenses $734,363 $643,258 +0.1%
Net Income $137,746 $21,871 +5.3%
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
8
Independent Members
8
Employees
N/A
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
8
$120,111
Total Directors
1
$0
Key Employees
1
$120,111
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TONY GRIMES PRESIDENT AND COFOUNDER 002.00
Officer
$0 $0 $0
KARLA MCDAY MSW LISW-S EXECUTIVE DIRECTOR 040.00
Officer Key Emp Highest
$120,111 $0 $120,111
LISA WORKMAN PHD LCSWA BOARD MEMBER AND COFOUNDER 002.00
Officer Director
$0 $0 $0
DANA LAGARDE SECRETARY 002.00
Officer
$0 $0 $0
TAMELA SKIPPER TREASURER 002.00
Officer
$0 $0 $0
TIFFANY AVERETTE SMITH LCSW-M BOARD MEMBER 002.00
Officer
$0 $0 $0
MARCUS WAINWRIGHT ESQ BOARD MEMBER 002.00
Officer
$0 $0 $0
JAMES BOGGS ESQ BOARD MEMBER 002.00
Officer
$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 $872,109 $734,363 $382,094 $137,746
2023 $698,016 $664,000 $239,191 $34,016
2023 $665,129 $643,258 $239,191 $21,871
2022 $467,532 $407,830 No data $59,702
2022 $429,958 $404,573 No data $25,385
2021 $349,951 $267,862 $124,766 $82,089
2020 $217,098 $173,107 No data $43,991
2019 $95,319 $86,452 No data $8,867
2018 $31,084 $26,771 No data $4,313
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