Heart Love & Soul Inc

Analysis

Heart Love & Soul Inc is a registered charity in United States, based in Niagara Falls, NY. It received its IRS tax-exemption ruling in February 1985, 41 years ago. Its declared purposes cover food, agriculture and nutrition, 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 December 2023, Heart Love & Soul Inc reported income of $2.0m and spending of $2.1m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.2m to $2.0m (-9.6%), an average of -2.5% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 69% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heart Love & Soul Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Oblong Childrens Christian Home ($2.0m), Wny Heroes Inc ($2.0m) and Methodist Childrens Home Society Supporting Organization ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $96k (4.5% of expenses). Other salaries and wages came to $904k. At year end it held assets of $9.4m against liabilities of $422k, net assets of $9.0m. It reported 33 employees.