Hartbeat Ensemble Inc

Analysis

Hartbeat Ensemble Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in February 2003, 23 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 September 2023, Hartbeat Ensemble Inc reported income of $467k and spending of $469k, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $213k to $467k (+120%), an average of +22% a year. The sharpest change came in the year to September 2022, when income rose by 66%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hartbeat Ensemble Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within CT. Charities of a similar size with the same main cause include South Carolina Civil Rights Museum ($467k), RPM Foundation ($467k) and Museum of American Heritage ($467k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $52k (11% of expenses). Other salaries and wages came to $113k. At year end it held assets of $21k against liabilities of $0, net assets of $21k. It reported 9 employees.