Open Hearts

Analysis

Open Hearts is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in April 1977, 49 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Open Hearts reported income of $8.8m and spending of $8.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.0m to $8.8m (+10%), an average of +2.4% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Open Hearts sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within AZ. Charities of a similar size with the same main cause include Cambridge Credit Counseling Corp ($8.8m), Northwestern Illinois Community Action Agency ($8.8m) and Jewish Service for the Development- Ally Disabled of Metro West Inc ($8.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $195k (2.2% of expenses). Other salaries and wages came to $4.9m. At year end it held assets of $6.6m against liabilities of $2.6m, net assets of $4.0m. It reported 154 employees.