Open Hearts Art Center
EIN: 270087282 · Asheville, NC · NTEE: A25
Is Open Hearts Art Center Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Open Hearts Art Center
Open Hearts Art Center (EIN: 270087282) is a nonprofit organization based in Asheville, NC, classified under NTEE code A25. The organization reported total revenue of $1.1M and total assets of $739K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Open Hearts Art Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Open Hearts Art Center is a mid-size nonprofit that has been operating for 22 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 8.4%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $879K |
| Total Expenses | $850K |
| Surplus / Deficit | +$28K |
| Total Assets | $779K |
| Total Liabilities | $20K |
| Net Assets | $759K |
| Operating Margin | 3.2% |
| Debt-to-Asset Ratio | 2.6% |
| Months of Reserves | 11.0 months |
Financial Health Grade: A
In 2022, Open Hearts Art Center reported a surplus of $28K with revenue exceeding expenses, holds 11.0 months of operating reserves (strong position), has a debt-to-asset ratio of 2.6% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2022), Open Hearts Art Center's revenue has grown at a compound annual growth rate (CAGR) of 8.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -1.5% | +5.3% | -13.2% |
| 2021 | -13.3% | +11.4% | +38.0% |
| 2020 | +15.2% | -21.1% | +82.4% |
| 2019 | -10.1% | +3.2% | -6.7% |
| 2018 | +21.1% | +8.8% | +38.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Open Hearts Art Center has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Open Hearts Art Center with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.6%.
Frequently Asked Questions about Open Hearts Art Center
Is Open Hearts Art Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Open Hearts Art Center (EIN: 270087282) insufficient data. 0 red flags identified, 0 strengths noted.
How does Open Hearts Art Center spend its money?
Detailed spending breakdown data is not yet available for Open Hearts Art Center. Check back for updated IRS 990 analysis.
Are donations to Open Hearts Art Center tax-deductible?
Open Hearts Art Center is registered as a tax-exempt nonprofit (EIN: 270087282). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Open Hearts Art Center showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Open Hearts Art Center's revenue has grown by 143.1%, moving from $361K to $879K. Total assets increased by 905.6% over the same period, from $77K to $779K. Total functional expenses rose by 165.1%, from $321K to $850K. In its most recent filing year (2022), Open Hearts Art Center reported a surplus of $28K, with revenue exceeding expenses. The organization holds $20K in liabilities against $779K in assets (debt-to-asset ratio: 2.6%), resulting in net assets of $759K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $879K | $850K | $779K | $20K | — | View 990 |
| 2021 | $892K | $807K | $897K | $166K | — | View 990 |
| 2020 | $1.0M | $724K | $650K | $5K | — | View 990 |
| 2019 | $893K | $918K | $356K | $15K | — | View 990 |
| 2018 | $993K | $889K | $382K | $16K | — | View 990 |
| 2017 | $820K | $817K | $276K | $15K | — | View 990 |
| 2016 | $703K | $679K | $262K | $8K | — | View 990 |
| 2015 | $617K | $596K | $240K | $8K | — | View 990 |
| 2014 | $552K | $477K | $222K | $10K | — | View 990 |
| 2013 | $424K | $374K | $153K | $6K | — | View 990 |
| 2012 | $368K | $373K | $98K | $4K | — | View 990 |
| 2011 | $361K | $321K | $77K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $879K, expenses of $850K, and assets of $779K (revenue -1.5% year-over-year).
- 2021: Revenue of $892K, expenses of $807K, and assets of $897K (revenue -13.3% year-over-year).
- 2020: Revenue of $1.0M, expenses of $724K, and assets of $650K (revenue +15.2% year-over-year).
- 2019: Revenue of $893K, expenses of $918K, and assets of $356K (revenue -10.1% year-over-year).
- 2018: Revenue of $993K, expenses of $889K, and assets of $382K (revenue +21.1% year-over-year).
- 2017: Revenue of $820K, expenses of $817K, and assets of $276K (revenue +16.7% year-over-year).
- 2016: Revenue of $703K, expenses of $679K, and assets of $262K (revenue +13.9% year-over-year).
- 2015: Revenue of $617K, expenses of $596K, and assets of $240K (revenue +11.7% year-over-year).
- 2014: Revenue of $552K, expenses of $477K, and assets of $222K (revenue +30.2% year-over-year).
- 2013: Revenue of $424K, expenses of $374K, and assets of $153K (revenue +15.2% year-over-year).
- 2012: Revenue of $368K, expenses of $373K, and assets of $98K (revenue +1.9% year-over-year).
- 2011: Revenue of $361K, expenses of $321K, and assets of $77K.
Data Sources and Methodology
This transparency report for Open Hearts Art Center 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.