Heart of Biddeford

Analysis

Heart of Biddeford is a registered charity in United States, based in Biddeford, ME. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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 June 2023, Heart of Biddeford reported income of $367k and spending of $365k, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $315k to $367k (+17%), an average of +3.9% a year. The sharpest change came in the year to June 2021, when income rose by 56%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Heart of Biddeford sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 60th percentile within ME. Charities of a similar size with the same main cause include San Juan Foundation ($367k), Southampton Association Inc ($368k) and Diversity Cyber Council Inc ($367k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $56k (15% of expenses). Other salaries and wages came to $35k. At year end it held assets of $164k against liabilities of $137k, net assets of $28k. It reported 2 employees.