Homes for Hearts

Analysis

Homes for Hearts is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in December 2020, 6 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 July 2024, Homes for Hearts reported income of $56k and spending of $37k, leaving 35% of income unspent that year. Across the 2 years on record, from July 2023 to July 2024, income fell from $125k to $56k (-55%), an average of -55% a year. The sharpest change came in the year to July 2024, when income dropped by 55%. Over the whole period it spent 33% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homes for Hearts sits at the 13th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within TN. Charities of a similar size with the same main cause include CPC Norfolk Senior Housing Development Fund Corporation ($56k), Hamlin Hotel Corporation ($56k) and Pathway Network Incorporated ($56k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 83% of the total. At year end it held assets of $225k against liabilities of $0, net assets of $225k.