Frank Town Open Hearts Ministry Inc

Analysis

Frank Town Open Hearts Ministry Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in February 2006, 20 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Frank Town Open Hearts Ministry Inc reported income of $2.7m and spending of $1.3m, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $832k to $2.7m (+227%), an average of +34% a year. The sharpest change came in the year to December 2023, when income rose by 89%. Over the whole period it spent 58% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Frank Town Open Hearts Ministry Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Black Hills Works Foundation Inc ($2.7m), Change Starts with Me ($2.7m) and Joint Electrical Industry Training Fund ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 117% of the total. Compensation of current officers, directors and key employees was $128k (10.0% of expenses). Other salaries and wages came to $347k. At year end it held assets of $3.4m against liabilities of $147k, net assets of $3.2m. It reported 17 employees.