Local Hearts Foundation

Analysis

Local Hearts Foundation is a registered charity in United States, based in Downey, CA. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Local Hearts Foundation reported income of $107k and spending of $106k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $150k to $107k (-29%), an average of -29% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Local Hearts Foundation sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 41st percentile within CA. Charities of a similar size with the same main cause include Chrystine M Sullivan Memorial Fund Inc ($106k), Old Saybrook Rotary Foundation Inc ($107k) and Waipahu Community Foundation TR 072092 ($106k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $51k against liabilities of $0, net assets of $51k.