Heartbeats for Patches Inc

Analysis

Heartbeats for Patches Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in September 2018, 8 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, Heartbeats for Patches Inc reported income of $183k and spending of $187k, spending 102% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $148k to $183k (+24%), an average of +11% a year. Over the whole period it spent 101% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Heartbeats for Patches Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 55th percentile within FL. Charities of a similar size with the same main cause include Kkids Inc ($183k), Family Career and Community Leaders of America Inc ($183k) and Valley Youth Network ($183k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% of the total. At year end it held assets of $36k against liabilities of $3,408, net assets of $33k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.