Heartsmiles Inc

Analysis

Heartsmiles Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in January 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 December 2023, Heartsmiles Inc reported income of $1.4m and spending of $1.3m, spending 95% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $593k to $1.4m (+138%), an average of +54% a year. The sharpest change came in the year to December 2023, when income rose by 57%. Over the whole period it spent 97% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Heartsmiles Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MD. Charities of a similar size with the same main cause include Lee Youth Association Inc ($1.4m), Boy Scouts of America ($1.4m) and Big Brothers Big Sisters of Northern Nevada ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $126k (9.4% of expenses). Other salaries and wages came to $21k. At year end it held assets of $294k against liabilities of $14k, net assets of $280k.