Purple Heart Homes Inc

Analysis

Purple Heart Homes Inc is a registered charity in United States, based in Statesville, NC. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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, Purple Heart Homes Inc reported income of $7.2m and spending of $7.5m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $7.2m (+64%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Purple Heart Homes Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include Brent House Corporation ($7.2m), The New School ($7.2m) and Boy Scouts of America ($7.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 5.3% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $4.1m against liabilities of $527k, net assets of $3.6m. It reported 33 employees.