Heal the Hood Foundation of Memphis

Analysis

Heal the Hood Foundation of Memphis is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Heal the Hood Foundation of Memphis reported income of $333k and spending of $447k, spending 134% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $424k to $333k (-21%), an average of -21% a year. The sharpest change came in the year to December 2023, when income dropped by 21%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heal the Hood Foundation of Memphis 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 64th percentile, and in the 65th percentile within TN. Charities of a similar size with the same main cause include Off-Road Motorsports Hall of Fame ($333k), Ohio Educational Support Group ($333k) and Danbury Music Centre Inc ($333k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $99k (22% of expenses). At year end it held assets of $421k against liabilities of $152k, net assets of $269k.