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Safe Harbor INC

Tax-deductible

Westbrook, CT501(c)(3)EIN 22-2579445Revenue $363K in FY2024

On file with the IRS96 Ken Rose Ter, 06498-1487 · Westbrook, CTTax-exempt since Jul 1985Publicly supported charity — 170(b)(1)(A)(vi)

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The corporation owns and operates 24 units of low income elderly housing which is subsidized by rural development

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $9K a year · 3% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$850K
77% of total assets
Worth a look: liabilities are 77% of assets; over 65%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$363K
+20% vs prior year
Spent
$347K
To programs
87%
Net assets
$254K
By yearFY2020–FY2024
Revenue
$363K
FY2024▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2020$292K
FY2021$315K
FY2022$308K
FY2023$303K
FY2024$363K
Expenses
$347K
FY2024▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$287K
FY2021$298K
FY2022$300K
FY2023$305K
FY2024$347K
Net assets
$254K
FY2024▲ +83%
Tap a bar for its year
Net assets by fiscal year
FY2020$130K
FY2021$170K
FY2022$140K
FY2023$138K
FY2024$254K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $301K Management & general 13% · $46K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Teri Gavigan
President
$0Pt VII · Sec A
Chris Ehlert
Treasurer
$0Pt VII · Sec A
Wayne Henry
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Safe Harbor INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides subsidized housing for low-income seniors.

Questions for Safe Harbor INC

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Provided by the organization

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1 program · $301K · in their own filed words · FY2024
01

Rental of 24 units for low-income elderly housing.

$301Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$363K
Ln 12
Fees for servicesLn 2g$246K
Gifts and grantsLn 1h$99K
Investment incomeLn 3$18K
Money outPt IX
$347K
Ln 25
Programscol B$301K
Managementcol C$46K
Owns and owesPt X
$254K
net assets · Ln 32
Cash and savingsLn 1–2$221K
Total assetsLn 16$1.1M
LiabilitiesLn 26$850K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$99K
Government grantsLn 1e$70K
Fees for servicesLn 2g$246K
Investment incomeLn 3$18K
Gains on assetsLn 7$10K
Total revenueLn 12$363K
Assets in detailPt X, end of year
CashLn 1$61K
SavingsLn 2$160K
Cash and savings togetherLn 1–2$221K
InvestmentsLn 11–13$281K
Land, buildings, equipmentLn 10c$590K
Total assetsLn 16$1.1M
LiabilitiesLn 26$850K
Net assetsLn 32$254K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$199K$221K
InvestmentsLn 11–13$238K$281K
Land, buildings, equipmentLn 10c$547K$590K
Total assetsLn 16$992K$1.1M
LiabilitiesLn 26$853K$850K
Net assetsLn 32$138K$254K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$30K$30K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$3K$3K
Advertising and promotionLn 12$116$116
Office expensesLn 13$4K$4K
OccupancyLn 16$42K$42K
InterestLn 20$67K$67K
Depreciation, depletion and amortizationLn 22$52K$52K
InsuranceLn 23$26K$26K
Other expenses (24a–d)Ln 24$114K$114K
Total functional expensesLn 25$347K$301K$46K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $363K$347K$17K$254K 990 PDF
FY2023 $303K$305K−$2K$138K 990 PDF
FY2022 $308K$300K$9K$140K 990 PDF
FY2021 $315K$298K$17K$170K 990 PDF
FY2020 $292K$287K$4K$130K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $363,270 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $66,608$99,142
I-9 Program service revenuePrior year $230,595$246,490
I-10 Investment incomePrior year $5,898$17,638
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $303,101$363,270
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $305,156$346,669
I-18 Total expensesPrior year $305,156$346,669
I-19 Revenue less expensesPrior year −$2,055$16,601
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $363,270 across 7 lines filed
VIII-1e Government grants$70,148
VIII-1f All other contributions, gifts and grants$28,994
VIII-1h Total contributions, gifts and grants$99,142
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $246,490$246,490
VIII-3 Investment incomeExcluded from tax $8,041$8,041
VIII-7 Net gain or loss on sales of assetsExcluded from tax $9,597$9,597
VIII-12 Total revenueRelated to mission $246,490 · Unrelated business $0 · Excluded from tax $17,638$363,270
Part IX · Statement of functional expenses $346,669 across 10 lines filed
IX-11a Management feesManagement $29,784$29,784
IX-11c Accounting feesManagement $8,518$8,518
IX-11f Investment management feesManagement $3,159$3,159
IX-12 Advertising and promotionManagement $116$116
IX-13 Office expensesManagement $4,426$4,426
IX-16 OccupancyPrograms $42,011$42,011
IX-20 InterestPrograms $66,834$66,834
IX-22 Depreciation, depletion and amortizationPrograms $52,086$52,086
IX-23 InsurancePrograms $25,573$25,573
IX-24 Other expenses (24a–d)Programs $114,162$114,162
IX-25 Total functional expensesPrograms $300,666 · Management $46,003 · Fundraising $0$346,669
Part X · Balance sheet $1,103,292 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $29,353$60,961
X-2 Savings and temporary cash investmentsStart of year $169,881$160,312
X-4 Accounts receivableStart of year $1,388$4,032
X-9 Prepaid expenses and deferred chargesStart of year $5,412$7,140
X-10c Land, buildings and equipment, netStart of year $547,220$590,013
X-11 Publicly traded securitiesStart of year $238,426$280,834
X-16 Total assetsStart of year $991,680$1,103,292
X-17 Accounts payable and accrued expensesStart of year $26,754$44,876
X-19 Deferred revenueStart of year $11,577$22,409
X-25 Other liabilitiesStart of year $13,720$14,255
X-26 Total liabilitiesStart of year $853,296$849,651
X-27 Net assets without donor restrictionsStart of year −$100,042−$34,640
X-28 Net assets with donor restrictionsStart of year $238,426$288,281
X-32 Total net assets or fund balancesStart of year $138,384$253,641
X-33 Total liabilities and net assetsStart of year $991,680$1,103,292
Part XI · Reconciliation of net assets $253,641 net assets at year end
XI-1 Total revenue$363,270
XI-2 Total expenses$346,669
XI-3 Revenue less expenses$16,601
XI-4 Net assets at start of year$138,384
XI-5 Net unrealized gains (losses) on investments$12,237
XI-9 Other changes in net assets$86,419
XI-10 Net assets at end of year$253,641

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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