Heartbeat of Monroe Inc

Analysis

Heartbeat of Monroe Inc is a registered charity in United States, based in Monroe, MI. It received its IRS tax-exemption ruling in June 1979, 47 years ago. 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 December 2023, Heartbeat of Monroe Inc reported income of $192k and spending of $124k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $144k to $192k (+33%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heartbeat of Monroe Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 52nd percentile within MI. Charities of a similar size with the same main cause include Bergen Catholic High School Alumni Association Inc ($192k), Veterans Advocacy Associates Inc ($192k) and Hayfield Area Elderly Housing Inc ($192k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $365k against liabilities of $1,844, net assets of $363k.