Lucys Hearth

Analysis

Lucys Hearth is a registered charity in United States, based in Middletown, RI. It received its IRS tax-exemption ruling in December 1984, 42 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lucys Hearth reported income of $1.3m and spending of $1.1m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $698k to $1.3m (+91%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 66%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lucys Hearth sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within RI. Charities of a similar size with the same main cause include Common Ground Development Corporation ($1.3m), Region IV Inc ($1.3m) and Catherine Booth Residence Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.6% of the total. At year end it held assets of $5.0m against liabilities of $1.1m, net assets of $4.0m.