Hearts for Homes

Analysis

Hearts for Homes is a registered charity in United States, based in Denton, TX. It received its IRS tax-exemption ruling in July 2014, 12 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, Hearts for Homes reported income of $689k and spending of $577k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $376k to $689k (+83%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hearts for Homes sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Adoption Advocates Inc ($689k), Open Door International Inc ($689k) and Bridges NJ Inc ($689k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $57k (9.9% of expenses). Other salaries and wages came to $94k. At year end it held assets of $615k against liabilities of $81k, net assets of $534k. It reported 5 employees.