Heart and Soul Services Inc

Analysis

Heart and Soul Services Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Heart and Soul Services Inc reported income of $2.1m and spending of $1.7m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $533k to $2.1m (+303%), an average of +42% a year. The sharpest change came in the year to June 2020, when income rose by 68%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heart and Soul Services Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Florida Harm Reduction Collective Inc ($2.1m), Big Arts Organization Inc ($2.1m) and Sharing Ministries Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $193k (11% of expenses). Other salaries and wages came to $527k. At year end it held assets of $2.2m against liabilities of $311k, net assets of $1.9m. It reported 34 employees.