Friends Of Mount Harmon Inc
- Assets
- $4.0m
- Revenue
- $399.5k
- Investments
- $0.0
- Employees
- 10
- Location
- Elkton, MD
- Founding
- 11/1997
- Data as of
- 06/2021
- EIN
- 51-0369880
Organization Overview
Friends Of Mount Harmon Inc is located in Elkton, MD. The organization was established in 1997. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Friends Of Mount Harmon Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Mount Harmon Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Friends Of Mount Harmon Inc generated $399.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $286.5k during the year ending 06/2021. While expenses have increased by 5.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN HISTORIC STRUCTURES
Describe the Organization's Program Activity:
EXPENSES ASSOCIATED WITH THE MAINTENANCE ANDPRESERVATION OF THE HISTORIC STRUCTURES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Olmstead Secty | Officer | 3 | $0 |
Domenic Palagruto Treasurer | Officer | 4 | $0 |
Stephen W Isaacson President | Officer | 5 | $0 |
Richard Renck Vice Presidengt | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,859 |
| Investment income | $30,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,264 |
| Net Gain/Loss on Asset Sales | $77,578 |
| Net Income from Fundraising Events | $41,897 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,500 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $399,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $45,281 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,546 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,080 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,832 |
| Office expenses | $10,063 |
| Information technology | $3,530 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,522 |
| Insurance | $17,474 |
| All other expenses | $0 |
| Total functional expenses | $286,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $377,580 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,858 |
| Investments—publicly traded securities | $3,202,067 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,032,871 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $20,000 |
| Other liabilities | $11,063 |
| Total liabilities | $31,063 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $4,001,808 |
| Total liabilities and net assets/fund balances | $4,001,808 |