Hart Foundation
Hart Foundation consistently spends more than it earns, with declining assets and no reported officer compensation.
EIN: 204058209 · Jackson, MS · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3K |
| Total Expenses | $10K |
| Program Spending | 80% |
| Net Assets | $18K |
| Transparency Score | 65/100 |
Is Hart Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hart Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hart Foundation
Hart Foundation (EIN: 204058209) is a nonprofit organization based in Jackson, MS, classified under NTEE code B82. The organization reported total revenue of $3K and total assets of $21K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hart Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hart Foundation is a micro nonprofit that has been operating for 20 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5K |
| Total Expenses | $10K |
| Surplus / Deficit | $-5,092 |
| Total Assets | $18K |
| Total Liabilities | $1 |
| Net Assets | $18K |
| Operating Margin | -97.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 21.0 months |
Financial Health Grade: B
In 2023, Hart Foundation reported a deficit of $5K with expenses exceeding revenue, holds 21.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2023), Hart Foundation's revenue has grown at a compound annual growth rate (CAGR) of 8.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -30.4% | -32.9% | -22.0% |
| 2022 | +0.0% | +581.5% | -25.3% |
| 2021 | +23.6% | +530.7% | +13.8% |
| 2020 | +136.0% | -78.9% | +26.5% |
| 2019 | +70.4% | +60.0% | +17.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hart Foundation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Hart Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Hart Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is likely unpaid or compensated through non-reportable means, which is common for very small, volunteer-driven organizations.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hart Foundation's IRS 990 filings:
- Consistent negative net income (expenses exceeding revenue) in recent years (e.g., $10,326 expenses vs. $5,234 revenue in 2023).
- Declining asset base from $31,051 in 2021 to $18,094 in 2023, suggesting reliance on reserves to cover operational shortfalls.
Strengths
The following positive indicators were identified for Hart Foundation:
- Consistent IRS 990 filing history (9 filings), indicating good regulatory compliance and transparency.
- No reported officer compensation, suggesting a volunteer-driven model or highly efficient use of funds at the leadership level.
- Very low liabilities ($1 in most years), indicating minimal debt burden.
Frequently Asked Questions about Hart Foundation
Is Hart Foundation a legitimate charity?
Hart Foundation (EIN: 204058209) is a registered tax-exempt nonprofit based in Mississippi. Our AI analysis gives it a Mission Score of 65/100. It has 9 years of IRS 990 filings on record. Total revenue: $3K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Hart Foundation spend its money?
Hart Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Hart Foundation tax-deductible?
Hart Foundation is registered as a tax-exempt nonprofit (EIN: 204058209). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hart Foundation's spending goes to programs?
Hart Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hart Foundation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Hart Foundation is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hart Foundation located?
Hart Foundation is headquartered in Jackson, Mississippi and files with the IRS under EIN 204058209. It is classified under NTEE code B82.
How many years of IRS 990 filings does Hart Foundation have?
Hart Foundation has 9 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 $3K in total revenue.
How does Hart Foundation cover its expenses when they consistently exceed revenue?
The provided data shows expenses frequently exceeding revenue (e.g., $10,326 expenses vs. $5,234 revenue in 2023). This suggests the organization is either drawing down its assets, relying on prior year surpluses, or receiving non-cash contributions not reflected in the revenue figures. The asset decline from $31,051 in 2021 to $18,094 in 2023 supports the idea of asset utilization.
What specific programs does Hart Foundation operate given its NTEE code B82?
The NTEE code B82 typically refers to 'Youth Development Programs'. Without further details from the full 990 forms, specific program activities cannot be identified from the provided summary data.
Is the Hart Foundation financially sustainable in the long term with its current revenue and expense trends?
The consistent trend of expenses exceeding revenue, coupled with declining assets, raises concerns about long-term financial sustainability if this pattern continues without a significant increase in revenue or a reduction in expenses. For example, assets decreased by over $12,000 from 2021 to 2023.
Filing History
IRS 990 filing history for Hart Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Hart Foundation's revenue has grown by 170.9%, moving from $2K to $5K. Total assets decreased by 3.1% over the same period, from $19K to $18K. Total functional expenses rose by 189.2%, from $4K to $10K. In its most recent filing year (2023), Hart Foundation reported a deficit of $5K, with expenses exceeding revenue. The organization holds $1 in liabilities against $18K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $18K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5K | $10K | $18K | $1 | — | — |
| 2022 | $8K | $15K | $23K | $1 | — | View 990 |
| 2021 | $8K | $2K | $31K | $1 | — | View 990 |
| 2020 | $6K | $358 | $27K | $2K | — | — |
| 2019 | $3K | $2K | $22K | $1 | — | — |
| 2015 | $2K | $1K | $18K | $1 | — | View 990 |
| 2013 | $2K | $3K | $17K | $1 | — | View 990 |
| 2012 | $2K | $2K | $18K | $1 | — | View 990 |
| 2011 | $2K | $4K | $19K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5K, expenses of $10K, and assets of $18K (revenue -30.4% year-over-year).
- 2022: Revenue of $8K, expenses of $15K, and assets of $23K (revenue +0.0% year-over-year).
- 2021: Revenue of $8K, expenses of $2K, and assets of $31K (revenue +23.6% year-over-year).
- 2020: Revenue of $6K, expenses of $358, and assets of $27K (revenue +136.0% year-over-year).
- 2019: Revenue of $3K, expenses of $2K, and assets of $22K (revenue +70.4% year-over-year).
- 2015: Revenue of $2K, expenses of $1K, and assets of $18K (revenue -24.3% year-over-year).
- 2013: Revenue of $2K, expenses of $3K, and assets of $17K (revenue +7.1% year-over-year).
- 2012: Revenue of $2K, expenses of $2K, and assets of $18K (revenue -3.3% year-over-year).
- 2011: Revenue of $2K, expenses of $4K, and assets of $19K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hart Foundation:
Data Sources and Methodology
This transparency report for Hart Foundation 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.