Heart Love & Soul Inc

Heart Love & Soul Inc shows strong asset growth and no reported executive compensation, with a slight operational deficit in the latest year.

EIN: 161200127 · Niagara Falls, NY · NTEE: K300 · Updated: 2026-03-28

$6.3MRevenue

$10.3MAssets

90/100Mission Score (Excellent)

K300

About Heart Love & Soul Inc

Heart Love & Soul Inc (EIN: 161200127) is a nonprofit organization based in Niagara Falls, NY, classified under NTEE code K300. The organization reported total revenue of $6.3M and total assets of $10.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heart Love & Soul Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Heart Love & Soul Inc demonstrates a generally healthy financial position with consistent revenue generation and asset growth over the past decade. In the most recent filing (202312), the organization reported revenues of $2,021,377 against expenses of $2,109,979, indicating a slight operational deficit for that period. However, this follows several years of significant surpluses, such as in 202212 ($2,511,044 revenue vs. $1,915,717 expenses) and 202112 ($2,145,018 revenue vs. $1,524,554 expenses), which have contributed to a robust asset base of $9,428,376. The organization's liabilities remain relatively low compared to its assets, suggesting good financial stability.

The organization's spending efficiency appears strong, particularly given the consistent growth in program delivery implied by increasing expenses over time. The absence of reported officer compensation across all filings is a significant positive indicator of financial stewardship and a commitment to directing resources towards its mission. While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the overall financial trends suggest a focus on mission-related activities. The consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Heart Love & Soul Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Heart Love & Soul Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Heart Love & Soul Inc has consistently reported 0% officer compensation across all available filings, indicating that no compensation was paid to officers, directors, trustees, or key employees. This is an exceptional practice for a nonprofit of its size, with latest revenue of over $2 million, and suggests a strong commitment to directing funds towards its mission.

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 Love & Soul Inc's IRS 990 filings:

Slight operational deficit in the most recent fiscal year (202312), with expenses exceeding revenue by $88,602.

Strengths

The following positive indicators were identified for Heart Love & Soul Inc:

Consistent reporting of 0% officer compensation across all filings, indicating excellent financial stewardship.
Significant and consistent asset growth, from $2.65M in 2014 to $9.43M in 2023, demonstrating long-term financial stability.
Strong revenue growth over the past decade, indicating increasing support and capacity.
Low liabilities relative to assets, suggesting a healthy balance sheet.
Consistent IRS 990 filing history (13 filings), indicating good transparency.

Frequently Asked Questions about Heart Love & Soul Inc

Is Heart Love & Soul Inc a good charity?

Based on the provided financial data, Heart Love & Soul Inc appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, and a remarkable commitment to its mission by reporting no officer compensation.

How has Heart Love & Soul Inc's financial health changed over time?

Heart Love & Soul Inc has shown significant financial growth and stability. Its assets have grown from $2,653,426 in 201412 to $9,428,376 in 202312, and revenues have increased substantially from under $1 million in 2014-2016 to over $2 million in recent years.

What is the trend in Heart Love & Soul Inc's operational results?

The organization generally operates with a surplus, as seen in 202212 (revenue $2.5M, expenses $1.9M) and 202112 (revenue $2.1M, expenses $1.5M). However, the latest period (202312) shows a slight deficit with expenses ($2.1M) exceeding revenue ($2.0M), which warrants monitoring but does not negate overall financial strength.

Filing History

IRS 990 filing history for Heart Love & Soul Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Heart Love & Soul Inc's revenue has grown by 224%, moving from $624K to $2.0M. Total assets increased by 350.6% over the same period, from $2.1M to $9.4M. Total functional expenses rose by 396.8%, from $425K to $2.1M. In its most recent filing year (2023), Heart Love & Soul Inc reported a deficit of $89K, with expenses exceeding revenue. The organization holds $422K in liabilities against $9.4M in assets (debt-to-asset ratio: 4.5%), resulting in net assets of $9.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.0M	$2.1M	$9.4M	$422K	—	—
2022	$2.5M	$1.9M	$8.9M	$479K	—	View 990
2021	$2.1M	$1.5M	$8.9M	$319K	—	View 990
2020	$2.0M	$1.1M	$8.0M	$42K	—	View 990
2019	$2.2M	$913K	$6.8M	$205K	—	View 990
2018	$2.0M	$994K	$5.1M	$74K	—	View 990
2017	$1.8M	$656K	$4.3M	$0	—	—
2016	$725K	$554K	$3.0M	$0	—	View 990
2015	$733K	$545K	$2.7M	$0	—	View 990
2014	$779K	$546K	$2.7M	$0	—	View 990
2013	$773K	$516K	$2.5M	$0	—	View 990
2012	$560K	$508K	$2.2M	$6	—	View 990
2011	$624K	$425K	$2.1M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.0M, expenses of $2.1M, and assets of $9.4M (revenue -19.5% year-over-year).
2022: Revenue of $2.5M, expenses of $1.9M, and assets of $8.9M (revenue +17.1% year-over-year).
2021: Revenue of $2.1M, expenses of $1.5M, and assets of $8.9M (revenue +5.8% year-over-year).
2020: Revenue of $2.0M, expenses of $1.1M, and assets of $8.0M (revenue -9.4% year-over-year).
2019: Revenue of $2.2M, expenses of $913K, and assets of $6.8M (revenue +14.4% year-over-year).
2018: Revenue of $2.0M, expenses of $994K, and assets of $5.1M (revenue +8.4% year-over-year).
2017: Revenue of $1.8M, expenses of $656K, and assets of $4.3M (revenue +148.6% year-over-year).
2016: Revenue of $725K, expenses of $554K, and assets of $3.0M (revenue -1.0% year-over-year).
2015: Revenue of $733K, expenses of $545K, and assets of $2.7M (revenue -6.0% year-over-year).
2014: Revenue of $779K, expenses of $546K, and assets of $2.7M (revenue +0.8% year-over-year).
2013: Revenue of $773K, expenses of $516K, and assets of $2.5M (revenue +38.2% year-over-year).
2012: Revenue of $560K, expenses of $508K, and assets of $2.2M (revenue -10.3% year-over-year).
2011: Revenue of $624K, expenses of $425K, and assets of $2.1M.

Data Sources and Methodology

This transparency report for Heart Love & Soul 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.