Heart Rhythm Society Inc

Analysis

Heart Rhythm Society Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1980, 46 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Heart Rhythm Society Inc reported income of $19.3m and spending of $21.5m, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $18.3m to $19.3m (+5.7%), an average of +1.4% a year. The sharpest change came in the year to September 2020, when income dropped by 24%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heart Rhythm Society Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 93rd percentile within DC. Charities of a similar size with the same main cause include John Thomas Dye School ($19.3m), Central Kansas Mental Health Center ($19.3m) and Access Living of Metropolitan Chicago ($19.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 9.0% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $2.0m (9.5% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $14.7m against liabilities of $5.5m, net assets of $9.2m. It reported 59 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.