Steel Hearts Inc

Analysis

Steel Hearts Inc is a registered charity in United States, based in Fort Mill, SC. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Steel Hearts Inc reported income of $55k and spending of $43k, leaving 23% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $79k to $55k (-30%), an average of -16% a year. The sharpest change came in the year to December 2022, when income dropped by 28%. Over the whole period it spent 81% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Steel Hearts Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 28th percentile within SC. Charities of a similar size with the same main cause include Saratoga Springs Lions Club Foundation Inc ($55k), The Rotary Club of Minnetonka Foundation ($55k) and Cedar Hill Rotary Foundation ($55k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 119% of the total. At year end it held assets of $95k against liabilities of $14k, net assets of $80k.