Hearts Place Services Inc

Analysis

Hearts Place Services Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in May 2011, 15 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Hearts Place Services Inc reported income of $934k and spending of $69k, leaving 93% of income unspent that year. Across the 3 years on record, from June 2021 to June 2024, income grew from $268k to $934k (+248%), an average of +87% a year. The sharpest change came in the year to June 2024, when income rose by 861%. Over the whole period it spent 20% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hearts Place Services Inc 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 78th percentile, and in the 78th percentile within MD. Charities of a similar size with the same main cause include Abara Inc ($934k), Generous Heart Community Development Inc ($935k) and Aberdeen Neighborhood Housing Services ($934k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.5m against liabilities of $319k, net assets of $1.2m.