Hearts Foundation Inc

Analysis

Hearts Foundation Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Hearts Foundation Inc reported income of $2.4m and spending of $2.2m, spending 93% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.4m to $2.4m (+65%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hearts Foundation 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 Talmud Torah Yesodei Hatorah Inc ($2.4m), Sherwood Charter School ($2.4m) and Catalina Island Museum ($2.4m).

Compensation of current officers, directors and key employees was $61k (2.8% of expenses). Other salaries and wages came to $973k. At year end it held assets of $1.7m against liabilities of $939k, net assets of $778k.