Morgan Lynn Garrett Heart of Courage Foundation Inc

Analysis

Morgan Lynn Garrett Heart of Courage Foundation Inc is a registered charity in United States, based in Matthews, NC. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Morgan Lynn Garrett Heart of Courage Foundation Inc reported income of $73k and spending of $6,389, leaving 91% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $12k to $73k (+530%), an average of +530% a year. The sharpest change came in the year to December 2023, when income rose by 530%. Over the whole period it spent 10% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Morgan Lynn Garrett Heart of Courage Foundation Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 27th percentile within NC. Charities of a similar size with the same main cause include Boise Regional Realtors Foundation Inc ($73k), GFWC Utopia Club of Ozark Missouriinc ($73k) and Ryon D Provencher Memorial Fund ($73k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 92% of the total. At year end it held assets of $76k against liabilities of $0, net assets of $76k.