Heartsong Inc

Analysis

Heartsong Inc is a registered charity in United States, based in White Plains, NY. It received its IRS tax-exemption ruling in August 2019, 7 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 2022, Heartsong Inc reported income of $276k and spending of $394k, spending 143% of what it took in. Across the 4 years on record, from June 2019 to June 2022, income fell from $508k to $276k (-46%), an average of -18% a year. The sharpest change came in the year to June 2021, when income dropped by 37%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heartsong Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Topeka Lulac Multipurpose Senior Center Inc ($275k), Wasatch Recovery Foundation ($276k) and Culinary Angels ($275k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 44% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $33k (8.4% of expenses). Other salaries and wages came to $178k. At year end it held assets of $194k against liabilities of $206k, net assets of -$12k. It reported 16 employees.