Heart Brothers Foundation Inc
EIN: 463534947 · Northborough, MA · NTEE: G43
| Metric | Value |
|---|---|
| Total Revenue | $718K |
| Total Expenses | $423K |
| Net Assets | $63K |
Is Heart Brothers Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Heart Brothers Foundation Inc
Heart Brothers Foundation Inc (EIN: 463534947) is a nonprofit organization based in Northborough, MA, classified under NTEE code G43. The organization reported total revenue of $718K and total assets of $153K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heart Brothers Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heart Brothers Foundation Inc is a small nonprofit that has been operating for 12 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 61.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $417K |
| Total Expenses | $423K |
| Surplus / Deficit | $-5,733 |
| Total Assets | $63K |
| Net Assets | $63K |
| Operating Margin | -1.4% |
| Months of Reserves | 1.8 months |
Financial Health Grade: C
In 2023, Heart Brothers Foundation Inc reported a deficit of $6K with expenses exceeding revenue, holds 1.8 months of operating reserves (limited).
Financial Trends
Over 11 years of filings (2013–2023), Heart Brothers Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 61.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +26.6% | +7.8% | -8.3% |
| 2022 | -18.5% | +14.2% | -47.7% |
| 2021 | +113.9% | +124.2% | +85.4% |
| 2020 | -13.0% | -21.9% | +101.4% |
| 2019 | +72.6% | +36.4% | +151.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Heart Brothers Foundation 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 Heart Brothers Foundation 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 $6K, with expenses exceeding revenue.
Frequently Asked Questions about Heart Brothers Foundation Inc
Is Heart Brothers Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Heart Brothers Foundation Inc (EIN: 463534947) insufficient data. 0 red flags identified, 0 strengths noted.
How does Heart Brothers Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Heart Brothers Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Heart Brothers Foundation Inc tax-deductible?
Heart Brothers Foundation Inc is registered as a tax-exempt nonprofit (EIN: 463534947). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Heart Brothers Foundation Inc located?
Heart Brothers Foundation Inc is headquartered in Northborough, Massachusetts and files with the IRS under EIN 463534947. It is classified under NTEE code G43.
How many years of IRS 990 filings does Heart Brothers Foundation Inc have?
Heart Brothers Foundation Inc has 11 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 $718K in total revenue.
Filing History
IRS 990 filing history for Heart Brothers Foundation Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Heart Brothers Foundation Inc's revenue has grown by 11594.1%, moving from $4K to $417K. Total assets increased by 6316600% over the same period, from $1 to $63K. Total functional expenses rose by 11754.7%, from $4K to $423K. In its most recent filing year (2023), Heart Brothers Foundation Inc reported a deficit of $6K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $417K | $423K | $63K | $0 | — | — |
| 2022 | $330K | $393K | $69K | $0 | — | — |
| 2021 | $405K | $344K | $132K | $0 | — | View 990 |
| 2020 | $189K | $153K | $71K | $0 | — | View 990 |
| 2019 | $218K | $196K | $35K | $0 | — | View 990 |
| 2018 | $126K | $144K | $14K | $0 | — | View 990 |
| 2017 | $93K | $89K | $32K | $0 | — | View 990 |
| 2016 | $86K | $69K | $28K | $0 | — | View 990 |
| 2015 | $29K | $33K | $11K | $0 | — | View 990 |
| 2014 | $29K | $14K | $15K | $0 | — | View 990 |
| 2013 | $4K | $4K | $1 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $417K, expenses of $423K, and assets of $63K (revenue +26.6% year-over-year).
- 2022: Revenue of $330K, expenses of $393K, and assets of $69K (revenue -18.5% year-over-year).
- 2021: Revenue of $405K, expenses of $344K, and assets of $132K (revenue +113.9% year-over-year).
- 2020: Revenue of $189K, expenses of $153K, and assets of $71K (revenue -13.0% year-over-year).
- 2019: Revenue of $218K, expenses of $196K, and assets of $35K (revenue +72.6% year-over-year).
- 2018: Revenue of $126K, expenses of $144K, and assets of $14K (revenue +34.9% year-over-year).
- 2017: Revenue of $93K, expenses of $89K, and assets of $32K (revenue +9.0% year-over-year).
- 2016: Revenue of $86K, expenses of $69K, and assets of $28K (revenue +193.6% year-over-year).
- 2015: Revenue of $29K, expenses of $33K, and assets of $11K (revenue +1.3% year-over-year).
- 2014: Revenue of $29K, expenses of $14K, and assets of $15K (revenue +707.1% year-over-year).
- 2013: Revenue of $4K, expenses of $4K, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heart Brothers Foundation Inc:
Data Sources and Methodology
This transparency report for Heart Brothers Foundation 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.