Healing Place Inc

Analysis

Healing Place Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in February 1990, 36 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 December 2023, Healing Place Inc reported income of $12.8m and spending of $13.2m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.9m to $12.8m (+6.8%), an average of +1.7% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Healing Place Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within KY. Charities of a similar size with the same main cause include Northeast Entrepreneur Fund Inc ($12.8m), Bethesda Home of Aberdeen Inc ($12.8m) and Rise Preparatory Charter School Inc ($12.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $282k (2.1% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $37.3m against liabilities of $5.7m, net assets of $31.6m. It reported 241 employees.