Sacred Heart Center Inc

Analysis

Sacred Heart Center Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Sacred Heart Center Inc reported income of $2.3m and spending of $2.4m, spending 104% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.3m to $2.3m (+79%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 53%. 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, Sacred Heart Center Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Shoresh Inc ($2.3m), Khalil Foundation ($2.3m) and A Chance to Change Foundation ($2.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $137k (5.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.3m against liabilities of $280k, 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.