Hearts Therapeutic Equestrian Center

Analysis

Hearts Therapeutic Equestrian Center is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in January 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hearts Therapeutic Equestrian Center reported income of $553k and spending of $626k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $553k (-54%), an average of -18% a year. The sharpest change came in the year to December 2020, when income dropped by 38%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hearts Therapeutic Equestrian Center sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Oklahoma Women in Ag Association ($553k), Beauregard Arc ($553k) and N O a H Inc ($553k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 13% of the total. Other salaries and wages came to $191k. At year end it held assets of $1.2m against liabilities of $218k, net assets of $981k. It reported 13 employees.