Heartstone Foundation

Analysis

Heartstone Foundation is a registered charity in United States, based in Richmond, TX. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2022, Heartstone Foundation reported income of $97k and spending of $83k, spending 85% of its income. Across the 2 years on record, from December 2021 to December 2022, income fell from $126k to $97k (-23%), an average of -23% a year. The sharpest change came in the year to December 2022, when income dropped by 23%. Over the whole period it spent 64% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Heartstone Foundation sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 39th percentile within TX. Charities of a similar size with the same main cause include Legacy Institute ($97k), Sujo John Ministries Inc ($97k) and Fuse Christian Concerts Inc ($97k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $60k against liabilities of $0, net assets of $60k.