Connected Hearts

Analysis

Connected Hearts is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in April 2020, 6 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, Connected Hearts reported income of $250k and spending of $131k, leaving 47% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $37k to $250k (+576%), an average of +576% a year. The sharpest change came in the year to December 2023, when income rose by 576%. Over the whole period it spent 52% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Connected Hearts sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within TN. Charities of a similar size with the same main cause include Select Cobb Inc ($250k), Westwater Financial Inc ($250k) and Futures Fundamentals NFP ($250k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $50k. At year end it held assets of $152k against liabilities of $0, net assets of $152k.