Cathedral of the Sacred Heart Foundation

Analysis

Cathedral of the Sacred Heart Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2024, Cathedral of the Sacred Heart Foundation reported income of $289k and spending of $355k, spending 123% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $804k to $289k (-64%), an average of -22% a year. The sharpest change came in the year to June 2022, when income rose by 157%. Over the whole period it spent 116% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Cathedral of the Sacred Heart Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within VA. Charities of a similar size with the same main cause include Zomi Christian Church ($289k), Forge Men Inc ($290k) and Center for Awakening Inc ($289k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.

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.