Connecting Hearts Inc

Analysis

Connecting Hearts Inc is a registered charity in United States, based in Lyman, WY. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Connecting Hearts Inc reported income of $397k and spending of $429k, spending 108% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $221k to $397k (+80%), an average of +34% a year. The sharpest change came in the year to December 2022, when income rose by 90%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Connecting Hearts Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within WY. Charities of a similar size with the same main cause include Families for Depression Awareness ($397k), Friends of Honduran Children Inc ($397k) and Cares Community Assistance Resources & Emer SVCS Pickens Co 1 ($397k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $68k (16% of expenses). Other salaries and wages came to $161k. At year end it held assets of $10k against liabilities of $17k, net assets of -$6,521.