Heartbound Ministries Inc

Analysis

Heartbound Ministries Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover crime and legal-related, which this site groups under human rights and equality. 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, Heartbound Ministries Inc reported income of $567k and spending of $439k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $398k to $567k (+42%), an average of +9.2% a year. The sharpest change came in the year to December 2023, when income rose by 44%. Over the whole period it spent 82% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Heartbound Ministries Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within GA. Charities of a similar size with the same main cause include Welcome Table Collaborative ($566k), Virginia Mentoring Partnership ($568k) and Immanuel Housing Inc ($566k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $32k (7.3% of expenses). Other salaries and wages came to $93k. At year end it held assets of $712k against liabilities of $0, net assets of $712k. It reported 3 employees.