Hearaide Inc

Analysis

Hearaide Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in December 2020, 6 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Hearaide Inc reported income of $120k and spending of $210k, spending 175% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $100k to $120k (+19%), an average of +20% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 150% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hearaide Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 42nd percentile within OH. Charities of a similar size with the same main cause include Drake Rayden Foundation ($120k), Our Brothers Keeper Inc ($120k) and Foundation for Arthroplasty Research and Education ($120k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $131k against liabilities of $37k, net assets of $94k.