Heart of the City Neighborhoods Inc

Analysis

Heart of the City Neighborhoods Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 of the City Neighborhoods Inc reported income of $2.4m and spending of $2.4m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $763k to $2.4m (+210%), an average of +33% a year. The sharpest change came in the year to December 2021, when income rose by 66%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Heart of the City Neighborhoods Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Holston Home for Children Foundation Inc ($2.4m), Neighborhood Housing Services Inc of Great Falls ($2.4m) and Affordable Housing Visions for Texas Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $143k (6.0% of expenses). Other salaries and wages came to $256k. At year end it held assets of $1.3m against liabilities of $1.2m, net assets of $109k. It reported 13 employees.