Heart of Brevard

Analysis

Heart of Brevard is a registered charity in United States, based in Brevard, NC. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2023, Heart of Brevard reported income of $335k and spending of $342k, spending 102% of its income. Across the 4 years on record, from June 2019 to June 2023, income grew from $271k to $335k (+24%), an average of +7.4% a year. The sharpest change came in the year to June 2022, when income rose by 26%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Heart of Brevard sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include Mom Your Business ($335k), Main Street Martinez Inc ($335k) and Common Ground Inc ($335k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $82k (24% of expenses). Other salaries and wages came to $56k. At year end it held assets of $266k against liabilities of $6,913, net assets of $259k. It reported 3 employees.