Hearts Foundation Inc
Hearts Foundation Inc. shows consistent revenue growth and asset accumulation with no reported officer compensation.
EIN: 161607748 · Buffalo, NY · NTEE: B11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.3M |
| Total Expenses | $2.2M |
| Program Spending | 85% |
| Net Assets | $778K |
| Transparency Score | 90/100 |
Is Hearts Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hearts Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hearts Foundation Inc
Hearts Foundation Inc (EIN: 161607748) is a nonprofit organization based in Buffalo, NY, classified under NTEE code B11. The organization reported total revenue of $3.3M and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hearts Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hearts Foundation Inc is a mid-size nonprofit that has been operating for 25 years, with 13 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of 19.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $2.2M |
| Surplus / Deficit | +$165K |
| Total Assets | $1.7M |
| Total Liabilities | $939K |
| Net Assets | $778K |
| Operating Margin | 6.9% |
| Debt-to-Asset Ratio | 54.7% |
| Months of Reserves | 9.3 months |
Financial Health Grade: A
In 2022, Hearts Foundation Inc reported a surplus of $165K with revenue exceeding expenses, holds 9.3 months of operating reserves (strong position), has a debt-to-asset ratio of 54.7% (high leverage).
Financial Trends
Over 13 years of filings (2010–2022), Hearts Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 19.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +7.2% | +21.9% | +9.6% |
| 2021 | +70.1% | +35.3% | +306.2% |
| 2020 | -9.3% | -5.7% | -21.0% |
| 2019 | +17.5% | +25.7% | +22.9% |
| 2018 | +22.1% | +20.9% | +3.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
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 Hearts Foundation 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, Hearts Foundation 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.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $165K, with revenue exceeding expenses.
- Debt-to-asset ratio: 54.7%.
Executive Compensation Analysis
Hearts Foundation Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size and revenue, suggesting a volunteer leadership model or that compensation is reported under other categories.
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 Hearts Foundation Inc's IRS 990 filings:
- Lack of detailed expense breakdown in summary data prevents precise program efficiency calculation.
Strengths
The following positive indicators were identified for Hearts Foundation Inc:
- Consistent revenue growth over a decade, from $576,709 in 2013 to $2,388,696 in 2022.
- Significant asset accumulation, growing from $287,916 in 2013 to $1,717,509 in 2022.
- Expenses consistently below revenue, indicating sound financial management.
- 0% reported officer compensation across all filings, suggesting a strong commitment to mission-focused spending or volunteer leadership.
- Positive net assets (Assets exceed Liabilities) in all reported periods, indicating financial solvency.
Frequently Asked Questions about Hearts Foundation Inc
Is Hearts Foundation Inc a legitimate charity?
Hearts Foundation Inc (EIN: 161607748) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.3M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Hearts Foundation Inc spend its money?
Hearts Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Hearts Foundation Inc tax-deductible?
Hearts Foundation Inc is registered as a tax-exempt nonprofit (EIN: 161607748). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hearts Foundation Inc's spending goes to programs?
Hearts Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hearts Foundation Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Hearts Foundation Inc is above average for NTEE category B11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hearts Foundation Inc located?
Hearts Foundation Inc is headquartered in Buffalo, New York and files with the IRS under EIN 161607748. It is classified under NTEE code B11.
How many years of IRS 990 filings does Hearts Foundation Inc have?
Hearts Foundation Inc has 13 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 $3.3M in total revenue.
Is Hearts Foundation Inc. financially stable?
Yes, the organization demonstrates strong financial stability with consistent revenue growth from $576,709 in 2013 to $2,388,696 in 2022, and a significant increase in assets from $287,916 to $1,717,509 over the same period.
How does Hearts Foundation Inc. manage its expenses?
Expenses generally remain below revenue, allowing for asset growth. For example, in 2022, expenses were $2,223,568 against revenues of $2,388,696, indicating efficient management and a surplus.
What is the trend in the organization's assets?
Assets have shown a strong upward trend, growing from $287,916 in 2013 to $1,717,509 in 2022, reflecting successful financial operations and accumulation of resources.
Does Hearts Foundation Inc. pay its officers?
According to the provided IRS 990 data, Hearts Foundation Inc. consistently reports 0% officer compensation across all available filing periods, suggesting officers are unpaid or compensated in a manner not reflected in this specific metric.
Filing History
IRS 990 filing history for Hearts Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2022), Hearts Foundation Inc's revenue has grown by 703%, moving from $297K to $2.4M. Total assets increased by 10142.8% over the same period, from $17K to $1.7M. Total functional expenses rose by 685.2%, from $283K to $2.2M. In its most recent filing year (2022), Hearts Foundation Inc reported a surplus of $165K, with revenue exceeding expenses. The organization holds $939K in liabilities against $1.7M in assets (debt-to-asset ratio: 54.7%), resulting in net assets of $778K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $2.4M | $2.2M | $1.7M | $939K | — | View 990 |
| 2021 | $2.2M | $1.8M | $1.6M | $954K | — | View 990 |
| 2020 | $1.3M | $1.3M | $386K | $176K | — | — |
| 2019 | $1.4M | $1.4M | $488K | $239K | — | View 990 |
| 2018 | $1.2M | $1.1M | $397K | $163K | — | View 990 |
| 2017 | $1.0M | $941K | $383K | $239K | — | View 990 |
| 2016 | $933K | $924K | $393K | $314K | — | View 990 |
| 2015 | $772K | $763K | $448K | $378K | — | View 990 |
| 2014 | $635K | $653K | $346K | $285K | — | View 990 |
| 2013 | $577K | $542K | $288K | $209K | — | View 990 |
| 2012 | $419K | $402K | $175K | $130K | — | View 990 |
| 2011 | $354K | $318K | $104K | $63K | — | View 990 |
| 2010 | $297K | $283K | $17K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $2.4M, expenses of $2.2M, and assets of $1.7M (revenue +7.2% year-over-year).
- 2021: Revenue of $2.2M, expenses of $1.8M, and assets of $1.6M (revenue +70.1% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.3M, and assets of $386K (revenue -9.3% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.4M, and assets of $488K (revenue +17.5% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.1M, and assets of $397K (revenue +22.1% year-over-year).
- 2017: Revenue of $1.0M, expenses of $941K, and assets of $383K (revenue +7.8% year-over-year).
- 2016: Revenue of $933K, expenses of $924K, and assets of $393K (revenue +20.8% year-over-year).
- 2015: Revenue of $772K, expenses of $763K, and assets of $448K (revenue +21.6% year-over-year).
- 2014: Revenue of $635K, expenses of $653K, and assets of $346K (revenue +10.1% year-over-year).
- 2013: Revenue of $577K, expenses of $542K, and assets of $288K (revenue +37.7% year-over-year).
- 2012: Revenue of $419K, expenses of $402K, and assets of $175K (revenue +18.4% year-over-year).
- 2011: Revenue of $354K, expenses of $318K, and assets of $104K (revenue +18.9% year-over-year).
- 2010: Revenue of $297K, expenses of $283K, and assets of $17K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hearts Foundation Inc:
Data Sources and Methodology
This transparency report for Hearts 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.