Heartwood Alc

Analysis

Heartwood Alc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in November 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Heartwood Alc reported income of $943k and spending of $928k, spending 98% of its income. Across the 2 years on record, from May 2022 to May 2023, income grew from $227k to $943k (+315%), an average of +315% a year. The sharpest change came in the year to May 2023, when income rose by 315%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heartwood Alc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within GA. Charities of a similar size with the same main cause include Learning Cooperative ($943k), Childrens Literacy Center Inc ($943k) and Black Hills Christian Academy ($943k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $55k (6.0% of expenses). Other salaries and wages came to $32k. At year end it held assets of $198k against liabilities of $9,920, net assets of $188k. It reported 4 employees.