Hearts of Love

Analysis

Hearts of Love is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in August 1993, 33 years ago. 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 December 2023, Hearts of Love reported income of $57k and spending of $80k, spending 140% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $101k to $57k (-43%), an average of -43% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hearts of Love sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 21st percentile within OR. Charities of a similar size with the same main cause include Marietta Community House ($57k), Alaska PTA ($57k) and Amplify Community Resources ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $69k against liabilities of $1,368, net assets of $67k.