Angelheart Inc

Analysis

Angelheart Inc is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in March 2001, 25 years ago. Its declared purposes cover human services, 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 August 2023, Angelheart Inc reported income of $4.7m and spending of $4.1m, spending 88% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $6.3m to $4.7m (-25%), an average of -7.1% a year. The sharpest change came in the year to August 2021, when income dropped by 19%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Angelheart Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include New Way Homes Inc ($4.7m), The Salem Pantry Inc ($4.7m) and The Coffee Oasis ($4.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.1% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $260k (6.3% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $8.1m against liabilities of $1.3m, net assets of $6.8m. It reported 49 employees.