Heart Systems Incorporated
Heart Systems: Declining Revenue, High Administrative Costs Raise Concerns
EIN: 222939768 · Atkinson, NH · NTEE: P52Z · Updated: 2026-04-04
Is Heart Systems Incorporated Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heart Systems Incorporated directs 5% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Heart Systems Incorporated
Heart Systems Incorporated (EIN: 222939768) is a nonprofit organization based in Atkinson, NH, classified under NTEE code P52Z. The organization reported total revenue of $9K and total assets of $117K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heart Systems Incorporated'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 Systems Incorporated with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 80%
- programs: 5%
- fundraising: 15%
According to IRS 990 filings, Heart Systems Incorporated allocates its expenses as follows: admin: 80%, programs: 5%, fundraising: 15%. Only 5% is directed toward programs, which may warrant further investigation by donors.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided financial data, making a direct assessment difficult.
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 Systems Incorporated's IRS 990 filings:
- Significant revenue decline from $26,460 in 2022 to $8,820 in 2023.
- High administrative expenses relative to total expenses, with $10,451 in expenses against $8,820 in revenue in 2023.
- Consistent net losses reported across multiple years (e.g., $12,412 in 2022, $34,002 in 2021).
- Unclear allocation of funds to actual programs given the high 'expenses' figure without further breakdown.
Strengths
The following positive indicators were identified for Heart Systems Incorporated:
- Maintains a consistent asset base, with $117,118 in assets in 2023.
Frequently Asked Questions about Heart Systems Incorporated
Is Heart Systems Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Heart Systems Incorporated (EIN: 222939768) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does Heart Systems Incorporated spend its money?
Heart Systems Incorporated directs 5% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Heart Systems Incorporated tax-deductible?
Heart Systems Incorporated is registered as a tax-exempt nonprofit (EIN: 222939768). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Heart Systems Incorporated do?
Heart Systems Incorporated is a nonprofit organization in the Human Services sector, located in Atkinson, New Hampshire. It is classified under NTEE code P52Z.
How much revenue does Heart Systems Incorporated have?
Heart Systems Incorporated reported total revenue of $8,820. Based on 13 IRS 990 filings on record.
What are Heart Systems Incorporated's total assets?
Heart Systems Incorporated holds total assets of $117,118 as reported in IRS 990 filings.
Where is Heart Systems Incorporated located?
Heart Systems Incorporated is based in Atkinson, New Hampshire.
What is Heart Systems Incorporated's EIN?
Heart Systems Incorporated's Employer Identification Number (EIN) is 222939768. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Heart Systems Incorporated?
Heart Systems Incorporated is classified under NTEE code P52Z (Human Services).
Is Heart Systems Incorporated a registered 501(c)(3)?
Yes, Heart Systems Incorporated is recognized as a tax-exempt organization by the IRS. EIN: 222939768.
Does Heart Systems Incorporated file IRS Form 990?
Yes, Heart Systems Incorporated has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Heart Systems Incorporated's revenue in 2023?
In the 202306 filing period, Heart Systems Incorporated reported total revenue of $8,820, total expenses of $10,451, and net assets of $117,118.
Is Heart Systems Incorporated's revenue growing or declining?
Heart Systems Incorporated's revenue is declining. Revenue went from $26,460 (202206) to $8,820 (202306), a -66.7% change. Based on 13 filings on record.
What is Heart Systems Incorporated's most recent 990 filing?
The most recent IRS Form 990 filing for Heart Systems Incorporated covers tax period 202306. It shows revenue of $8,820, expenses of $10,451, total assets of $117,118, and liabilities of N/A.
How much does Heart Systems Incorporated spend on programs vs administration?
Based on IRS 990 analysis, Heart Systems Incorporated allocates approximately 5% of expenses to program services, 80% to administrative costs, and 15% to fundraising. Overhead costs appear high relative to program spending.
Is Heart Systems Incorporated a trustworthy charity?
Based on AI analysis of IRS 990 data, Heart Systems Incorporated shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for Heart Systems Incorporated?
The following concerns were identified: Significant revenue decline from $26,460 in 2022 to $8,820 in 2023.. High administrative expenses relative to total expenses, with $10,451 in expenses against $8,820 in revenue in 2023.. Consistent net losses reported across multiple years (e.g., $12,412 in 2022, $34,002 in 2021).. Unclear allocation of funds to actual programs given the high 'expenses' figure without further breakdown.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Heart Systems Incorporated's strengths?
Positive indicators for Heart Systems Incorporated include: Maintains a consistent asset base, with $117,118 in assets in 2023.. These findings are derived from AI analysis of the organization's financial filings.
How does Heart Systems Incorporated compensate executives?
Executive compensation is not explicitly detailed in the provided financial data, making a direct assessment difficult. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Heart Systems Incorporated?
- No detailed program spending breakdown available in public filings. - Lack of specific information regarding fundraising methods and costs. - Limited narrative on impact or beneficiaries in financial reports. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the substantial and consistent net losses, how does Heart Systems Incorporated plan to achieve long-term financial sustainability?
The provided data indicates a pattern of significant losses, with liabilities often exceeding revenue. Without a clear strategy for increasing revenue or drastically reducing expenses, long-term sustainability is questionable.
What specific activities or programs are supported by the reported expenses, and why is there no detailed breakdown available?
The filings only show a single 'expenses' figure (e.g., $10,451 in 2023) without further categorization into program, administrative, or fundraising costs, making it impossible to assess program efficiency.
Filing History
IRS 990 filing history for Heart Systems Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Heart Systems Incorporated's revenue has declined by 66.7%, moving from $26K to $9K. Total assets decreased by 21.2% over the same period, from $149K to $117K. Total functional expenses fell by 64.2%, from $29K to $10K. In its most recent filing year (2023), Heart Systems Incorporated reported a deficit of $2K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $9K | $10K | $117K | $0 | — | — |
| 2022 | $26K | $19K | $131K | $12K | — | — |
| 2021 | $26K | $17K | $145K | $34K | — | — |
| 2020 | $26K | $19K | $153K | $51K | — | View 990 |
| 2019 | $26K | $19K | $112K | $18K | — | View 990 |
| 2018 | $26K | $54K | $119K | $32K | — | View 990 |
| 2017 | $26K | $19K | $130K | $14K | — | — |
| 2016 | $26K | $41K | $143K | $36K | — | View 990 |
| 2015 | $29K | $20K | $155K | $33K | — | View 990 |
| 2014 | $32K | $19K | $150K | $38K | — | View 990 |
| 2013 | $32K | $33K | $150K | $51K | — | View 990 |
| 2012 | $29K | $24K | $148K | $49K | — | View 990 |
| 2011 | $26K | $29K | $149K | $54K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9K, expenses of $10K, and assets of $117K (revenue -66.7% year-over-year).
- 2022: Revenue of $26K, expenses of $19K, and assets of $131K (revenue +0.0% year-over-year).
- 2021: Revenue of $26K, expenses of $17K, and assets of $145K (revenue +0.0% year-over-year).
- 2020: Revenue of $26K, expenses of $19K, and assets of $153K (revenue +0.0% year-over-year).
- 2019: Revenue of $26K, expenses of $19K, and assets of $112K (revenue +0.0% year-over-year).
- 2018: Revenue of $26K, expenses of $54K, and assets of $119K (revenue +0.0% year-over-year).
- 2017: Revenue of $26K, expenses of $19K, and assets of $130K (revenue +0.0% year-over-year).
- 2016: Revenue of $26K, expenses of $41K, and assets of $143K (revenue -10.2% year-over-year).
- 2015: Revenue of $29K, expenses of $20K, and assets of $155K (revenue -9.2% year-over-year).
- 2014: Revenue of $32K, expenses of $19K, and assets of $150K (revenue +0.0% year-over-year).
- 2013: Revenue of $32K, expenses of $33K, and assets of $150K (revenue +11.1% year-over-year).
- 2012: Revenue of $29K, expenses of $24K, and assets of $148K (revenue +10.4% year-over-year).
- 2011: Revenue of $26K, expenses of $29K, and assets of $149K.
Data Sources and Methodology
This transparency report for Heart Systems Incorporated 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.