Heartland Senior Living

Analysis

Heartland Senior Living is a registered charity in United States, based in Winnebago, MN. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Heartland Senior Living reported income of $10.9m and spending of $12.1m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.3m to $10.9m (+31%), an average of +6.9% a year. The sharpest change came in the year to December 2020, when income rose by 22%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Heartland Senior Living 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 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Elim Senior Housing Inc ($10.9m), Home and Community Options Inc ($10.9m) and PHS Founders Ridge Inc ($10.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.0% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $199k (1.6% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $15.9m against liabilities of $18.8m, net assets of -$2.9m. It reported 245 employees.

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.