Heartbeet Lifesharing Corporation

Analysis

Heartbeet Lifesharing Corporation is a registered charity in United States, based in Hardwick, VT. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Heartbeet Lifesharing Corporation reported income of $1.5m and spending of $1.7m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.6m to $1.5m (-4.8%), an average of -1.2% a year. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heartbeet Lifesharing Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within VT. Charities of a similar size with the same main cause include Barred Business Foundation Co ($1.5m), Flint Fresh ($1.5m) and Chasdei Yona Meir Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $96k (5.6% of expenses). Other salaries and wages came to $528k. At year end it held assets of $6.2m against liabilities of $1.1m, net assets of $5.1m. It reported 36 employees.