Heat and Warmth Fund

Analysis

Heat and Warmth Fund is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in March 1986, 40 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 June 2023, Heat and Warmth Fund reported income of $12.5m and spending of $11.4m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $13.9m to $12.5m (-10%), an average of -2.6% a year. The sharpest change came in the year to June 2021, when income rose by 39%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heat and Warmth Fund sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($12.5m), Plains Area Mental Health Inc ($12.5m) and Mission Graduates ($12.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $673k (5.9% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $19.4m against liabilities of $2.1m, net assets of $17.2m. It reported 34 employees.