Open Hearts Foundation

Analysis

Open Hearts Foundation is a registered charity in United States, based in Westlake VLG, CA. It received its IRS tax-exemption ruling in March 2010, 16 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Open Hearts Foundation reported income of $545k and spending of $456k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $458k to $545k (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2021, when income dropped by 30%. Over the whole period it spent 90% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Open Hearts Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Levittown Seaford Wantagh Athletic Association Inc ($545k), Aspen Youth Center ($545k) and Police Athletic League of Davie Inc ($545k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 140% of the total. Compensation of current officers, directors and key employees was $113k (25% of expenses). Other salaries and wages came to $24k. At year end it held assets of $561k against liabilities of $0, net assets of $561k. It reported 2 employees.