Greathearts Foundation

Analysis

Greathearts Foundation is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Greathearts Foundation reported income of $5.3m and spending of $8.4m, spending 158% of what it took in. Across the 5 years on record, from June 2018 to June 2023, income grew from $200k to $5.3m (+2566%), an average of +127% a year. The sharpest change came in the year to June 2019, when income rose by 788%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Greathearts Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within AZ. Charities of a similar size with the same main cause include University Professional & Continuing Education Association ($5.3m), Alzar School Inc ($5.3m) and Public Health Law Center Inc ($5.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $276k (3.3% of expenses). Other salaries and wages came to $3,827. At year end it held assets of $2.1m against liabilities of $272k, net assets of $1.8m.