Heart and Mind Foundation

Analysis

Heart and Mind Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2001, 25 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Heart and Mind Foundation reported income of $742k and spending of $1.3m, spending 179% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $947k to $742k (-22%), an average of -5.9% a year. The sharpest change came in the year to June 2021, when income rose by 286%. Over the whole period it spent 91% 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 and Mind 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 76th percentile, and in the 75th percentile within IL. Charities of a similar size with the same main cause include Jane F and D Lawrence Sherman Family Support Foundation ($741k), Gracious Grounds Inc ($743k) and Fauquier Fish ($740k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $6.8m against liabilities of $88k, net assets of $6.7m.