Harbor Properties: Nonprofit Profile, Financials & Form 990 (EIN 76-0388046)

Revenue by fiscal year
FY2020	$391K
FY2021	$388K
FY2022	$515K
FY2023	$390K
FY2024	−$989K

Expenses by fiscal year
FY2020	$391K
FY2021	$388K
FY2022	$515K
FY2023	$390K
FY2024	−$989K

Net assets by fiscal year
FY2020	$9.1M
FY2021	$9.1M
FY2022	$9.1M
FY2023	$9.1M
FY2024	$17.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1994.

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

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation

John W Kelso

President/Director

$0Pt VII · Sec A

Michael C Doherty

Vice Pres/Director

$0Pt VII · Sec A

James B Galbraith

Director

$0Pt VII · Sec A

E J Pederson

Director

$0Pt VII · Sec A

Keith Bassett

Director

$0Pt VII · Sec A

Willam R Sealy

Director

$0Pt VII · Sec A

Douglas G Rogers

Exec Dir/Sec/Treas

$0Pt VII · Sec A

James S Jobe

Asst Sec/Treasurer

$0Pt VII · Sec A

See Harbor Properties executive salaries →

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

Manages property, collects income, and gives all profits to the Sealy & Smith Foundation.

Questions for Harbor Properties

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By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

−$989K

Ln 12

Investment incomeLn 3$48K

Money outPt IX

−$989K

Ln 25

Owns and owesPt X

$17.2M

net assets · Ln 32

Cash and savingsLn 1–2$3.2M

Total assetsLn 16$17.9M

LiabilitiesLn 26$649K

PeoplePt VI, VII

9

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$48K

Total revenueLn 12−$989K

Assets in detailPt X, end of year

SavingsLn 2$3.2M

Cash and savings togetherLn 1–2$3.2M

Accounts receivableLn 4$56K

Land, buildings, equipmentLn 10c$14.4M

Other assetsLn 15$208K

Total assetsLn 16$17.9M

LiabilitiesLn 26$649K

Net assetsLn 32$17.2M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$3.6M	$3.2M
Land, buildings, equipmentLn 10c	$13.4M	$14.4M
Total assetsLn 16	$17.3M	$17.9M
LiabilitiesLn 26	$8.2M	$649K
Net assetsLn 32	$9.1M	$17.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Payments to affiliatesLn 21	−$989K
Total functional expensesLn 25	−$989K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Sep 10, 2025	−$989K	−$989K	$0	$17.2M	990 PDF
FY2023Filed with the IRS Nov 21, 2024	$390K	$390K	$0	$9.1M	990 PDF
FY2022Filed with the IRS Oct 26, 2023	$515K	$515K	$0	$9.1M	990 PDF
FY2021Filed with the IRS Aug 18, 2022	$388K	$388K	$0	$9.1M	990 PDF
FY2020Filed with the IRS Jul 28, 2021	$391K	$391K	$0	$9.1M	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2024 990

Part I · Summary −$989,294 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $47,766$48,385

I-11 Other revenuePrior year $342,136−$1,037,679

I-12 Total revenuePrior year $389,902−$989,294

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 $389,902−$989,294

I-18 Total expensesPrior year $389,902−$989,294

I-19 Revenue less expensesPrior year $0$0

Part VI · Governance 6 of 7 board members independent, 1 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members6

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue −$989,294 across 3 lines filed

VIII-3 Investment incomeExcluded from tax $48,385$48,385

VIII-6 Net rental income or lossExcluded from tax −$1,037,679−$1,037,679

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$989,294−$989,294

Part IX · Statement of functional expenses −$989,294 across 1 line filed

IX-21 Payments to affiliates−$989,294

IX-25 Total functional expenses−$989,294

Part X · Balance sheet $17,864,927 assets, 12 lines filed

X-2 Savings and temporary cash investmentsStart of year $3,628,692$3,227,185

X-4 Accounts receivableStart of year $56,350$55,598

X-10c Land, buildings and equipment, netStart of year $13,412,026$14,374,344

X-15 Other assetsStart of year $179,823$207,800

X-16 Total assetsStart of year $17,276,891$17,864,927

X-25 Other liabilitiesStart of year $8,086,342$648,882

X-26 Total liabilitiesStart of year $8,157,666$648,882

X-29 Capital stock or trust principalStart of year $9,119,225$17,216,045

X-30 Paid-in or capital surplusStart of year $0$0

X-31 Retained earnings or endowmentStart of year $0$0

X-32 Total net assets or fund balancesStart of year $9,119,225$17,216,045

X-33 Total liabilities and net assetsStart of year $17,276,891$17,864,927

Part XI · Reconciliation of net assets $17,216,045 net assets at year end

XI-1 Total revenue−$989,294

XI-2 Total expenses−$989,294

XI-3 Revenue less expenses$0

XI-4 Net assets at start of year$9,119,225

XI-9 Other changes in net assets$8,096,820

XI-10 Net assets at end of year$17,216,045

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

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Harbor Properties

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Harbor Properties

By the numbers

Filing history

Schedules filed Part IV