New Heart Inc

Analysis

New Heart Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in August 1977, 49 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, New Heart Inc reported income of $1.1m and spending of $1.2m, spending 110% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.1m to $1.1m (-2.0%), an average of -0.7% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Heart Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within NM. Charities of a similar size with the same main cause include Comfortcare Womens Health ($1.1m), Childrens Therapy Center of the Quad Cities NFP ($1.1m) and Bike Pittsburgh Inc ($1.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 15% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $76k (6.2% of expenses). Other salaries and wages came to $295k. At year end it held assets of $3.0m against liabilities of $72k, net assets of $2.9m. It reported 21 employees.