Hearts of Wheels

Analysis

Hearts of Wheels is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover employment, which this site groups under community and economic 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, Hearts of Wheels reported income of $64k and spending of $37k, leaving 42% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $79k to $64k (-19%), an average of -9.7% a year. The sharpest change came in the year to December 2022, when income dropped by 41%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hearts of Wheels sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 24th percentile within AL. Charities of a similar size with the same main cause include Midtown Neighbors Association Inc ($64k), Valencia Community Action Network ($64k) and Gathering Wing ($64k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $61k against liabilities of $0, net assets of $61k.