Heartshare Education Center

Analysis

Heartshare Education Center is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Heartshare Education Center reported income of $4.6m and spending of $4.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $4.6m (+16%), an average of +3.9% a year. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heartshare Education Center sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Mountain Sunrise Academy Inc ($4.6m), All-In Milwaukee Inc ($4.6m) and Benjamin Franklin Academy Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.5% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $32k (0.7% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $1.4m against liabilities of $2.1m, net assets of -$723k. It reported 71 employees.