Purple Heart Homes Inc
EIN: 263516121 · Statesville, NC · NTEE: W30
| Metric | Value |
|---|---|
| Total Revenue | $13.4M |
| Total Expenses | $7.5M |
| Net Assets | $3.6M |
Is Purple Heart Homes Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Purple Heart Homes Inc
Purple Heart Homes Inc (EIN: 263516121) is a nonprofit organization based in Statesville, NC, classified under NTEE code W30. The organization reported total revenue of $13.4M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Purple Heart Homes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Purple Heart Homes Inc is a large nonprofit that has been operating for 10 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.2M |
| Total Expenses | $7.5M |
| Surplus / Deficit | $-270,772 |
| Total Assets | $4.1M |
| Total Liabilities | $527K |
| Net Assets | $3.6M |
| Operating Margin | -3.8% |
| Debt-to-Asset Ratio | 12.7% |
| Months of Reserves | 6.7 months |
Financial Health Grade: B
In 2023, Purple Heart Homes Inc reported a deficit of $271K with expenses exceeding revenue, holds 6.7 months of operating reserves (strong position), has a debt-to-asset ratio of 12.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Purple Heart Homes Inc's revenue has grown at a compound annual growth rate (CAGR) of 27.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.4% | +20.5% | -11.3% |
| 2022 | +29.3% | +40.2% | +2.4% |
| 2021 | +53.6% | +42.7% | -3.4% |
| 2020 | -30.7% | -5.5% | +1.2% |
| 2019 | +35.0% | +2.3% | +36.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Purple Heart Homes Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Purple Heart Homes Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $271K, with expenses exceeding revenue.
- Debt-to-asset ratio: 12.7%.
Frequently Asked Questions about Purple Heart Homes Inc
Is Purple Heart Homes Inc a legitimate charity?
Purple Heart Homes Inc (EIN: 263516121) is a registered tax-exempt nonprofit based in North Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $13.4M. No red flags identified. Financial health grade: B.
How does Purple Heart Homes Inc spend its money?
Purple Heart Homes Inc reported $13.4M in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Purple Heart Homes Inc tax-deductible?
Purple Heart Homes Inc is registered as a tax-exempt nonprofit (EIN: 263516121). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Purple Heart Homes Inc located?
Purple Heart Homes Inc is headquartered in Statesville, North Carolina and files with the IRS under EIN 263516121. It is classified under NTEE code W30.
How many years of IRS 990 filings does Purple Heart Homes Inc have?
Purple Heart Homes Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $13.4M in total revenue.
Filing History
IRS 990 filing history for Purple Heart Homes Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Purple Heart Homes Inc's revenue has grown by 1694.8%, moving from $401K to $7.2M. Total assets increased by 2565.1% over the same period, from $156K to $4.1M. Total functional expenses rose by 2536.9%, from $283K to $7.5M. In its most recent filing year (2023), Purple Heart Homes Inc reported a deficit of $271K, with expenses exceeding revenue. The organization holds $527K in liabilities against $4.1M in assets (debt-to-asset ratio: 12.7%), resulting in net assets of $3.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.2M | $7.5M | $4.1M | $527K | — | View 990 |
| 2022 | $6.0M | $6.2M | $4.7M | $784K | — | — |
| 2021 | $4.7M | $4.4M | $4.6M | $504K | — | View 990 |
| 2020 | $3.0M | $3.1M | $4.7M | $948K | — | — |
| 2019 | $4.4M | $3.3M | $4.7M | $850K | — | View 990 |
| 2018 | $3.2M | $3.2M | $3.4M | $731K | — | View 990 |
| 2017 | $2.2M | $2.4M | $3.4M | $834K | — | View 990 |
| 2016 | $1.8M | $2.1M | $3.3M | $466K | — | View 990 |
| 2015 | $2.2M | $2.0M | $3.3M | $240K | — | View 990 |
| 2014 | $2.1M | $1.9M | $3.0M | $168K | — | View 990 |
| 2013 | $3.1M | $1.3M | $2.7M | $90K | — | View 990 |
| 2012 | $1.6M | $923K | $858K | $25K | — | View 990 |
| 2011 | $401K | $283K | $156K | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.2M, expenses of $7.5M, and assets of $4.1M (revenue +19.4% year-over-year).
- 2022: Revenue of $6.0M, expenses of $6.2M, and assets of $4.7M (revenue +29.3% year-over-year).
- 2021: Revenue of $4.7M, expenses of $4.4M, and assets of $4.6M (revenue +53.6% year-over-year).
- 2020: Revenue of $3.0M, expenses of $3.1M, and assets of $4.7M (revenue -30.7% year-over-year).
- 2019: Revenue of $4.4M, expenses of $3.3M, and assets of $4.7M (revenue +35.0% year-over-year).
- 2018: Revenue of $3.2M, expenses of $3.2M, and assets of $3.4M (revenue +49.0% year-over-year).
- 2017: Revenue of $2.2M, expenses of $2.4M, and assets of $3.4M (revenue +22.2% year-over-year).
- 2016: Revenue of $1.8M, expenses of $2.1M, and assets of $3.3M (revenue -19.6% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.0M, and assets of $3.3M (revenue +3.2% year-over-year).
- 2014: Revenue of $2.1M, expenses of $1.9M, and assets of $3.0M (revenue -30.6% year-over-year).
- 2013: Revenue of $3.1M, expenses of $1.3M, and assets of $2.7M (revenue +90.5% year-over-year).
- 2012: Revenue of $1.6M, expenses of $923K, and assets of $858K (revenue +305.0% year-over-year).
- 2011: Revenue of $401K, expenses of $283K, and assets of $156K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Purple Heart Homes Inc:
Data Sources and Methodology
This transparency report for Purple Heart Homes Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.