The Heart Gallery of New Mexico Foundation

Analysis

The Heart Gallery of New Mexico Foundation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in December 2006, 20 years ago. Its declared purposes cover human services, 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, The Heart Gallery of New Mexico Foundation reported income of $245k and spending of $278k, spending 114% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $222k to $245k (+10%), an average of +5.1% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Heart Gallery of New Mexico Foundation sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NM. Charities of a similar size with the same main cause include Laredo Life Center ($245k), Nest Academy Rva ($245k) and Heartlife Ministries Inc ($245k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% of the total. Other salaries and wages came to $60k. At year end it held assets of $416k against liabilities of $1,585, net assets of $415k. It reported 1 employees.