The Heart Gallery Of New Mexico Foundation
The Heart Gallery Of New Mexico Foundation maintains stable finances with no reported officer compensation.
EIN: 204468893 · Albuquerque, NM · NTEE: P11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $310K |
| Total Expenses | $278K |
| Program Spending | 85% |
| Net Assets | $415K |
| Transparency Score | 85/100 |
Is The Heart Gallery Of New Mexico Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Heart Gallery Of New Mexico Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Heart Gallery Of New Mexico Foundation
The Heart Gallery Of New Mexico Foundation (EIN: 204468893) is a nonprofit organization based in Albuquerque, NM, classified under NTEE code P11. The organization reported total revenue of $310K and total assets of $396K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Heart Gallery Of New Mexico Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Heart Gallery Of New Mexico Foundation is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $245K |
| Total Expenses | $278K |
| Surplus / Deficit | $-33,387 |
| Total Assets | $416K |
| Total Liabilities | $2K |
| Net Assets | $415K |
| Operating Margin | -13.6% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 17.9 months |
Financial Health Grade: B
In 2023, The Heart Gallery Of New Mexico Foundation reported a deficit of $33K with expenses exceeding revenue, holds 17.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Heart Gallery Of New Mexico Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -12.3% | +49.2% | -7.7% |
| 2022 | +25.9% | +29.9% | +25.9% |
| 2021 | +193.6% | +6.6% | +29.2% |
| 2020 | -47.5% | -2.4% | -17.8% |
| 2019 | -41.0% | -16.8% | +2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 The Heart Gallery Of New Mexico Foundation with a Mission Score of 85 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, The Heart Gallery Of New Mexico Foundation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $33K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership is either volunteer or compensated through non-officer categories, which is highly favorable for directing resources to the 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.
Strengths
The following positive indicators were identified for The Heart Gallery Of New Mexico Foundation:
- Consistent 0% officer compensation reported across all filings, indicating efficient use of funds for mission.
- Strong asset-to-liability ratio, demonstrating financial stability (e.g., $416,192 assets vs. $1,585 liabilities in 2023).
- Long and consistent IRS 990 filing history (13 filings), indicating good transparency and compliance.
- Resilient revenue generation, recovering well from dips (e.g., from $75,560 in 2020 to $279,336 in 2022).
Frequently Asked Questions about The Heart Gallery Of New Mexico Foundation
Is The Heart Gallery Of New Mexico Foundation a legitimate charity?
The Heart Gallery Of New Mexico Foundation (EIN: 204468893) is a registered tax-exempt nonprofit based in New Mexico. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $310K. No red flags identified. 4 strengths noted. Financial health grade: B.
How does The Heart Gallery Of New Mexico Foundation spend its money?
The Heart Gallery Of New Mexico Foundation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to The Heart Gallery Of New Mexico Foundation tax-deductible?
The Heart Gallery Of New Mexico Foundation is registered as a tax-exempt nonprofit (EIN: 204468893). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Heart Gallery Of New Mexico Foundation's spending goes to programs?
The Heart Gallery Of New Mexico Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Heart Gallery Of New Mexico Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Heart Gallery Of New Mexico Foundation is above average for NTEE category P11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Heart Gallery Of New Mexico Foundation located?
The Heart Gallery Of New Mexico Foundation is headquartered in Albuquerque, New Mexico and files with the IRS under EIN 204468893. It is classified under NTEE code P11.
How many years of IRS 990 filings does The Heart Gallery Of New Mexico Foundation have?
The Heart Gallery Of New Mexico Foundation 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 $310K in total revenue.
Is The Heart Gallery Of New Mexico Foundation a good charity?
Based on the available data, the organization appears to be a good charity. It consistently reports 0% officer compensation, maintains a healthy asset-to-liability ratio (e.g., $416,192 in assets vs. $1,585 in liabilities in 2023), and has a long history of IRS filings, indicating transparency and compliance.
How has the organization's revenue trended over time?
The organization's revenue has fluctuated but generally shown growth and resilience. It saw a dip in 2020 ($75,560) but rebounded significantly, reaching $279,336 in 2022 and $244,874 in 2023, with the latest reported revenue at $309,910.
What is the organization's financial stability?
The Heart Gallery Of New Mexico Foundation demonstrates strong financial stability. Its assets consistently outweigh liabilities by a significant margin (e.g., $416,192 assets vs. $1,585 liabilities in 2023), indicating a healthy financial cushion.
Filing History
IRS 990 filing history for The Heart Gallery Of New Mexico Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Heart Gallery Of New Mexico Foundation's revenue has grown by 43%, moving from $171K to $245K. Total assets increased by 359.9% over the same period, from $91K to $416K. Total functional expenses rose by 57.5%, from $177K to $278K. In its most recent filing year (2023), The Heart Gallery Of New Mexico Foundation reported a deficit of $33K, with expenses exceeding revenue. The organization holds $2K in liabilities against $416K in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $415K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $245K | $278K | $416K | $2K | — | View 990 |
| 2022 | $279K | $187K | $451K | $3K | — | View 990 |
| 2021 | $222K | $144K | $358K | $3K | — | View 990 |
| 2020 | $76K | $135K | $277K | $483 | — | — |
| 2019 | $144K | $138K | $337K | $1K | — | View 990 |
| 2018 | $244K | $166K | $330K | $562 | — | View 990 |
| 2017 | $205K | $187K | $252K | $688 | — | View 990 |
| 2016 | $224K | $210K | $233K | $0 | — | View 990 |
| 2015 | $247K | $238K | $219K | $0 | — | View 990 |
| 2014 | $248K | $199K | $210K | $0 | — | View 990 |
| 2013 | $224K | $148K | $161K | $0 | — | View 990 |
| 2012 | $166K | $169K | $88K | $810 | — | View 990 |
| 2011 | $171K | $177K | $91K | $810 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $245K, expenses of $278K, and assets of $416K (revenue -12.3% year-over-year).
- 2022: Revenue of $279K, expenses of $187K, and assets of $451K (revenue +25.9% year-over-year).
- 2021: Revenue of $222K, expenses of $144K, and assets of $358K (revenue +193.6% year-over-year).
- 2020: Revenue of $76K, expenses of $135K, and assets of $277K (revenue -47.5% year-over-year).
- 2019: Revenue of $144K, expenses of $138K, and assets of $337K (revenue -41.0% year-over-year).
- 2018: Revenue of $244K, expenses of $166K, and assets of $330K (revenue +18.8% year-over-year).
- 2017: Revenue of $205K, expenses of $187K, and assets of $252K (revenue -8.3% year-over-year).
- 2016: Revenue of $224K, expenses of $210K, and assets of $233K (revenue -9.1% year-over-year).
- 2015: Revenue of $247K, expenses of $238K, and assets of $219K (revenue -0.6% year-over-year).
- 2014: Revenue of $248K, expenses of $199K, and assets of $210K (revenue +10.8% year-over-year).
- 2013: Revenue of $224K, expenses of $148K, and assets of $161K (revenue +34.7% year-over-year).
- 2012: Revenue of $166K, expenses of $169K, and assets of $88K (revenue -3.0% year-over-year).
- 2011: Revenue of $171K, expenses of $177K, and assets of $91K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Heart Gallery Of New Mexico Foundation:
Data Sources and Methodology
This transparency report for The Heart Gallery Of New Mexico 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.