Heartside Non-Profit Housing Corporation

Analysis

Heartside Non-Profit Housing Corporation is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in May 1996, 30 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, Heartside Non-Profit Housing Corporation reported income of $827k and spending of $878k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $821k to $827k (+0.8%), an average of +0.2% a year. The sharpest change came in the year to December 2020, when income dropped by 131%. Over the whole period it spent 166% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heartside Non-Profit Housing Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MI. Charities of a similar size with the same main cause include Greensboro Housing Coalition Inc ($827k), USA Swimming Inc ($827k) and Nurturing Nest Inc ($827k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 32% of the total. At year end it held assets of $16.4m against liabilities of $1.6m, net assets of $14.8m.

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.