Second Heart Homes Inc

Analysis

Second Heart Homes Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Second Heart Homes Inc reported income of $1.9m and spending of $864k, leaving 54% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $316k to $1.9m (+499%), an average of +82% a year. The sharpest change came in the year to December 2021, when income rose by 267%. Over the whole period it spent 43% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Second Heart Homes Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Hope Ministries of Baton Rouge ($1.9m), Lone Star HCS Inc ($1.9m) and Family Housing Resources Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $70k (8.1% of expenses). Other salaries and wages came to $256k. At year end it held assets of $3.2m against liabilities of $476k, net assets of $2.7m. It reported 10 employees.