Open Hearts Ministries Inc

Analysis

Open Hearts Ministries Inc is a registered charity in United States, based in Haverhill, MA. It received its IRS tax-exemption ruling in February 2007, 19 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 December 2023, Open Hearts Ministries Inc reported income of $113k and spending of $111k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $109k to $113k (+3.4%), an average of +3.4% a year. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Open Hearts Ministries Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 46th percentile within MA. Charities of a similar size with the same main cause include Jackson-Burris Senior Apartments Inc ($113k), Adopolis Inc ($113k) and West Virginia Christian Education Association ($113k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $42k against liabilities of $698, net assets of $41k.