Heartfirst Charitable Foundation

Analysis

Heartfirst Charitable Foundation is a registered charity in United States, based in Woodbury, MN. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Heartfirst Charitable Foundation reported income of $72k and spending of $106k, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $392k to $72k (-82%), an average of -34% a year. The sharpest change came in the year to December 2023, when income rose by 6478%. Over the whole period it spent 225% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Heartfirst Charitable Foundation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 25th percentile within MN. Charities of a similar size with the same main cause include Joseph Lemm Memorial Foundation Ltd ($72k), Cambridge Community College Center Foundation ($72k) and His Lighthouse Inc ($72k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% of the total. At year end it held assets of $659k against liabilities of $2,750, net assets of $656k.