Heritage Acres I Inc

Analysis

Heritage Acres I Inc is a registered charity in United States, based in Sturgis, SD. It received its IRS tax-exemption ruling in June 1986, 40 years ago. 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, Heritage Acres I Inc reported income of $950k and spending of $1.1m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $950k (-6.6%), an average of -1.7% a year. The sharpest change came in the year to December 2020, when income dropped by 19%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heritage Acres I Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within SD. Charities of a similar size with the same main cause include Lamp and Light Publishers Inc ($950k), Lake Tahoe Wildlife Care Inc ($950k) and Harvest Ministries Inc ($950k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.4% and program service revenue 94% of the total. At year end it held assets of $5.8m against liabilities of $6.0m, net assets of -$258k.