Heart of Indiana United Way Inc

Analysis

Heart of Indiana United Way Inc is a registered charity in United States, based in Muncie, IN. It received its IRS tax-exemption ruling in June 1958, 68 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 June 2023, Heart of Indiana United Way Inc reported income of $2.6m and spending of $2.8m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $2.6m (+70%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 120%. Over the whole period it spent 106% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Heart of Indiana United Way Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within IN. Charities of a similar size with the same main cause include United Way of Martin County Inc ($2.6m), United Way of Charlotte County Inc ($2.6m) and Volunteer NH ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $135k (4.8% of expenses). Other salaries and wages came to $508k. At year end it held assets of $5.3m against liabilities of $1.5m, net assets of $3.8m. It reported 22 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.