Greathearts Arizona

Analysis

Greathearts Arizona is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in July 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Greathearts Arizona reported income of $43.7m and spending of $40.9m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $31.8m to $43.7m (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Greathearts Arizona sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within AZ. Charities of a similar size with the same main cause include Notre Dame College ($43.7m), Rockford University ($43.7m) and Reinhardt University ($43.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 10% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $208k (0.5% of expenses). Other salaries and wages came to $9.1m. At year end it held assets of $263.4m against liabilities of $255.3m, net assets of $8.1m. It reported 3,029 employees.