Generous Heart Community Development Inc

Analysis

Generous Heart Community Development Inc is a registered charity in United States, based in Noblesville, IN. It received its IRS tax-exemption ruling in September 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Generous Heart Community Development Inc reported income of $935k and spending of $2.9m, spending 311% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $126k to $935k (+639%), an average of +639% a year. The sharpest change came in the year to December 2023, when income rose by 639%. Over the whole period it spent 304% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Generous Heart Community Development Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within IN. Charities of a similar size with the same main cause include Hearts Place Services Inc ($934k), Wallkill Senior Housing Development Fund Company Inc ($935k) and Abara Inc ($934k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $896k. At year end it held assets of $19.3m against liabilities of $21.5m, net assets of -$2.2m. It reported 120 employees.