Heart Institute Of Southern New
Heart Institute of Southern New Jersey: Declining Revenue, Stable Assets
EIN: 222574758 · Moorestown, NJ · Updated: 2026-04-04
About Heart Institute Of Southern New
Heart Institute Of Southern New (EIN: 222574758) is a nonprofit organization based in Moorestown, NJ. The organization reported total revenue of $2.1M and total assets of $10.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heart Institute Of Southern New's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Heart Institute Of Southern New 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Heart Institute Of Southern New allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which is unusual for an organization with over $10 million in assets and suggests either an all-volunteer leadership or compensation is reported under a different category.
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 Heart Institute Of Southern New's IRS 990 filings:
- Significant year-over-year revenue volatility, with a sharp decline from $2,948,410 in 2024 to $447,469 in 2023, raising questions about funding stability.
- Consistent reporting of 0% compensation for executives, which may indicate a lack of transparency regarding leadership remuneration or an unusual operational model.
- The 'nt' (nonprofit type) field is missing from the provided data, making it difficult to fully assess the organization's mission and operational context.
Strengths
The following positive indicators were identified for Heart Institute Of Southern New:
- Maintained a substantial asset base, consistently above $7.5 million, indicating financial resilience.
- Low liability (l1) and 0% compensation (c0%) reported across all years, suggesting a lean operational structure or strong financial management.
- Long operational history with data available since 2013, demonstrating longevity in its field.
Frequently Asked Questions about Heart Institute Of Southern New
What does Heart Institute Of Southern New do?
Heart Institute Of Southern New is a nonprofit organization in the Unknown sector, located in Moorestown, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Heart Institute Of Southern New have?
Heart Institute Of Southern New reported total revenue of $2,052,196. Based on 9 IRS 990 filings on record.
What are Heart Institute Of Southern New's total assets?
Heart Institute Of Southern New holds total assets of $10,373,332 as reported in IRS 990 filings.
Where is Heart Institute Of Southern New located?
Heart Institute Of Southern New is based in Moorestown, New Jersey.
What is Heart Institute Of Southern New's EIN?
Heart Institute Of Southern New's Employer Identification Number (EIN) is 222574758. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Heart Institute Of Southern New?
Heart Institute Of Southern New is classified under NTEE code Unknown (Unknown).
Is Heart Institute Of Southern New a registered 501(c)(3)?
Heart Institute Of Southern New appears in IRS records (EIN: 222574758). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Heart Institute Of Southern New file IRS Form 990?
Yes, Heart Institute Of Southern New has 9 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Heart Institute Of Southern New's revenue in 2024?
In the 202406 filing period, Heart Institute Of Southern New reported total revenue of $2,948,410, total expenses of $543,870, and net assets of $9,959,860.
Is Heart Institute Of Southern New's revenue growing or declining?
Heart Institute Of Southern New's revenue is growing. Revenue went from $447,469 (202306) to $2,948,410 (202406), a +558.9% change. Based on 9 filings on record.
What is Heart Institute Of Southern New's most recent 990 filing?
The most recent IRS Form 990 filing for Heart Institute Of Southern New covers tax period 202406. It shows revenue of $2,948,410, expenses of $543,870, total assets of $9,959,860, and liabilities of $1.
How much does Heart Institute Of Southern New spend on programs vs administration?
Based on IRS 990 analysis, Heart Institute Of Southern New allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Heart Institute Of Southern New a trustworthy charity?
Based on AI analysis of IRS 990 data, Heart Institute Of Southern New shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Heart Institute Of Southern New?
The following concerns were identified: Significant year-over-year revenue volatility, with a sharp decline from $2,948,410 in 2024 to $447,469 in 2023, raising questions about funding stability.. Consistent reporting of 0% compensation for executives, which may indicate a lack of transparency regarding leadership remuneration or an unusual operational model.. The 'nt' (nonprofit type) field is missing from the provided data, making it difficult to fully assess the organization's mission and operational context.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Heart Institute Of Southern New's strengths?
Positive indicators for Heart Institute Of Southern New include: Maintained a substantial asset base, consistently above $7.5 million, indicating financial resilience.. Low liability (l1) and 0% compensation (c0%) reported across all years, suggesting a lean operational structure or strong financial management.. Long operational history with data available since 2013, demonstrating longevity in its field.. These findings are derived from AI analysis of the organization's financial filings.
How does Heart Institute Of Southern New compensate executives?
Executive compensation is reported as $0 across all available filings, which is unusual for an organization with over $10 million in assets and suggests either an all-volunteer leadership or compensation is reported under a different category. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the reported 0% compensation, how does the Heart Institute of Southern New Jersey attract and retain qualified leadership and staff to manage its substantial assets and operations?
The consistent reporting of $0 for compensation suggests either an entirely volunteer-run organization at the leadership level, or that compensation is being reported under a different line item not explicitly detailed in the provided data, which warrants further inquiry into their operational model and financial reporting practices.
What factors contributed to the dramatic revenue fluctuations, particularly the drop from $2,948,410 in 2024 to $447,469 in 2023, and what measures are in place to mitigate future volatility?
The provided data does not specify the reasons for these fluctuations. It could be due to one-time grants, major fundraising events, or changes in funding sources. Understanding the nature of these revenue streams is crucial for assessing the organization's financial stability and future planning.
Filing History
IRS 990 filing history for Heart Institute Of Southern New showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2024), Heart Institute Of Southern New's revenue has grown by 390.6%, moving from $601K to $2.9M. Total assets increased by 21.3% over the same period, from $8.2M to $10.0M. Total functional expenses fell by 34.2%, from $827K to $544K. In its most recent filing year (2024), Heart Institute Of Southern New reported a surplus of $2.4M, with revenue exceeding expenses. The organization holds $1 in liabilities against $10.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $10.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $2.9M | $544K | $10.0M | $1 | — | View 990 |
| 2023 | $447K | $613K | $7.6M | $1 | — | View 990 |
| 2022 | $712K | $551K | $7.7M | $1 | — | View 990 |
| 2021 | $219K | $503K | $7.6M | $1 | — | View 990 |
| 2020 | $317K | $526K | $7.8M | $1 | — | View 990 |
| 2015 | $1.7M | $838K | $8.9M | $1 | — | View 990 |
| 2014 | $773K | $798K | $8.1M | $1 | — | View 990 |
| 2013 | $737K | $823K | $8.1M | $1 | — | View 990 |
| 2012 | $601K | $827K | $8.2M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.9M, expenses of $544K, and assets of $10.0M (revenue +558.9% year-over-year).
- 2023: Revenue of $447K, expenses of $613K, and assets of $7.6M (revenue -37.1% year-over-year).
- 2022: Revenue of $712K, expenses of $551K, and assets of $7.7M (revenue +224.4% year-over-year).
- 2021: Revenue of $219K, expenses of $503K, and assets of $7.6M (revenue -30.9% year-over-year).
- 2020: Revenue of $317K, expenses of $526K, and assets of $7.8M (revenue -81.2% year-over-year).
- 2015: Revenue of $1.7M, expenses of $838K, and assets of $8.9M (revenue +118.2% year-over-year).
- 2014: Revenue of $773K, expenses of $798K, and assets of $8.1M (revenue +4.9% year-over-year).
- 2013: Revenue of $737K, expenses of $823K, and assets of $8.1M (revenue +22.6% year-over-year).
- 2012: Revenue of $601K, expenses of $827K, and assets of $8.2M.
Data Sources and Methodology
This transparency report for Heart Institute Of Southern New 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.