Heartstrings Unlimited Inc

Analysis

Heartstrings Unlimited Inc is a registered charity in United States, based in Shakopee, MN. It received its IRS tax-exemption ruling in September 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Heartstrings Unlimited Inc reported income of $747k and spending of $730k, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $544k to $747k (+37%), an average of +6.5% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heartstrings Unlimited Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include Margarita Muniz Academy Foundation Inc ($747k), Kids Ark Development Center Inc ($747k) and Foundation for Excellence in Bridgeport Public Schools Inc ($747k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.7% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $173k (24% of expenses). Other salaries and wages came to $170k. At year end it held assets of $377k against liabilities of $131k, net assets of $247k. It reported 11 employees.