Heartstone Foundation
Heartstone Foundation maintains substantial assets despite fluctuating revenue and consistent operational deficits in recent years.
EIN: 206197750 · Brookline, MA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $1.0M |
| Program Spending | 80% |
| Net Assets | $13.7M |
| Transparency Score | 75/100 |
Is Heartstone Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Heartstone Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heartstone Foundation
Heartstone Foundation (EIN: 206197750) is a nonprofit organization based in Brookline, MA, classified under NTEE code T20. The organization reported total revenue of $2.6M and total assets of $13.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heartstone Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heartstone Foundation is a mid-size nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 18.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $831K |
| Total Expenses | $1.0M |
| Surplus / Deficit | $-209,310 |
| Total Assets | $13.7M |
| Total Liabilities | $1 |
| Net Assets | $13.7M |
| Operating Margin | -25.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 158.3 months |
Financial Health Grade: B
In 2023, Heartstone Foundation reported a deficit of $209K with expenses exceeding revenue, holds 158.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Heartstone Foundation's revenue has grown at a compound annual growth rate (CAGR) of 18.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +854.7% | -1.5% | -1.6% |
| 2022 | -91.7% | +17.2% | -6.5% |
| 2021 | +31.8% | +4.0% | +1.0% |
| 2020 | +42.3% | +35.5% | -0.5% |
| 2019 | -86.9% | -30.4% | -4.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Heartstone Foundation with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Heartstone Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $209K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through other means, which is a strong positive for donor confidence and resource allocation.
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 Heartstone Foundation's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023 expenses $1,040,564 vs. revenue $831,254; 2022 expenses $1,056,501 vs. revenue $87,071).
- Highly volatile revenue streams, making long-term financial planning potentially challenging.
Strengths
The following positive indicators were identified for Heartstone Foundation:
- Substantial and stable asset base ($13,864,238 latest period) providing financial security.
- Extremely low liabilities (consistently reported as $1 or $0), indicating excellent debt management.
- Zero reported officer compensation across all filings, demonstrating high efficiency in executive overhead.
- Long filing history (10 filings) indicating consistent compliance and operational longevity.
Frequently Asked Questions about Heartstone Foundation
Is Heartstone Foundation a legitimate charity?
Heartstone Foundation (EIN: 206197750) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.6M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Heartstone Foundation spend its money?
Heartstone Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Heartstone Foundation tax-deductible?
Heartstone Foundation is registered as a tax-exempt nonprofit (EIN: 206197750). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Heartstone Foundation's spending goes to programs?
Heartstone Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Heartstone Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Heartstone Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Heartstone Foundation located?
Heartstone Foundation is headquartered in Brookline, Massachusetts and files with the IRS under EIN 206197750. It is classified under NTEE code T20.
How many years of IRS 990 filings does Heartstone Foundation have?
Heartstone Foundation has 10 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 $2.6M in total revenue.
How does Heartstone Foundation sustain operations with consistent revenue deficits?
The organization appears to draw upon its substantial asset base, which was $13,864,238 in the latest period, to cover operational expenses when revenue falls short, as seen in 2023 where expenses ($1,040,564) exceeded revenue ($831,254).
What is the primary source of Heartstone Foundation's revenue given its variability?
The filing history shows significant revenue fluctuations, from $4,275,461 in 2015 to $87,071 in 2022. Without further detail on the nature of revenue (e.g., grants, donations, investment income), it's difficult to pinpoint a consistent primary source.
What are the specific program activities funded by Heartstone Foundation?
The provided data does not detail the specific program activities. A deeper dive into the full IRS 990 form would be necessary to understand how the organization utilizes its funds for its mission.
Filing History
IRS 990 filing history for Heartstone Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Heartstone Foundation's revenue has grown by 631.3%, moving from $114K to $831K. Total assets decreased by 1.7% over the same period, from $14.0M to $13.7M. Total functional expenses rose by 24.2%, from $838K to $1.0M. In its most recent filing year (2023), Heartstone Foundation reported a deficit of $209K, with expenses exceeding revenue. The organization holds $1 in liabilities against $13.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $13.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $831K | $1.0M | $13.7M | $1 | — | View 990 |
| 2022 | $87K | $1.1M | $14.0M | $1 | — | View 990 |
| 2021 | $1.1M | $901K | $14.9M | $1 | — | View 990 |
| 2020 | $799K | $867K | $14.8M | $1 | — | — |
| 2019 | $562K | $639K | $14.8M | $1 | — | View 990 |
| 2015 | $4.3M | $919K | $15.6M | $1 | — | View 990 |
| 2014 | $315K | $903K | $12.2M | $1 | — | View 990 |
| 2013 | $231K | $843K | $12.8M | $0 | — | View 990 |
| 2012 | $202K | $862K | $13.4M | $0 | — | View 990 |
| 2011 | $114K | $838K | $14.0M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $831K, expenses of $1.0M, and assets of $13.7M (revenue +854.7% year-over-year).
- 2022: Revenue of $87K, expenses of $1.1M, and assets of $14.0M (revenue -91.7% year-over-year).
- 2021: Revenue of $1.1M, expenses of $901K, and assets of $14.9M (revenue +31.8% year-over-year).
- 2020: Revenue of $799K, expenses of $867K, and assets of $14.8M (revenue +42.3% year-over-year).
- 2019: Revenue of $562K, expenses of $639K, and assets of $14.8M (revenue -86.9% year-over-year).
- 2015: Revenue of $4.3M, expenses of $919K, and assets of $15.6M (revenue +1258.4% year-over-year).
- 2014: Revenue of $315K, expenses of $903K, and assets of $12.2M (revenue +36.3% year-over-year).
- 2013: Revenue of $231K, expenses of $843K, and assets of $12.8M (revenue +14.5% year-over-year).
- 2012: Revenue of $202K, expenses of $862K, and assets of $13.4M (revenue +77.4% year-over-year).
- 2011: Revenue of $114K, expenses of $838K, and assets of $14.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heartstone Foundation:
Data Sources and Methodology
This transparency report for Heartstone Foundation 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.