HEARTS FOUNDATION INC (EIN 161607748) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Phone

7168773536

Tax Period

2024-01-01 to 2024-12-31

HEARTS FOUNDATION INC, founded in 2003, is a community nonprofit in the Education sector that reported $3.2M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $2.8M left a modest 13% surplus.

Mission

THE ORGANIZATION OPERATES HEARTS THRIFT STORES AND EXISTS SOLELY TO SUPPORT THE ACTIVITIES AND PURPOSES OF HEARTS FOR THE HOMELESS OF WESTERN NEW YORK INC., A 501C3 ORGANIZATION WHICH PROVIDES PHYSICAL, EMOTIONAL, AND SPIRITUAL RELIEF TO THE HOMELESS, POOR AND DISTRESSED AND

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,369,742

Program Service Revenue $0

Investment Income $9,923

Other Revenue $840,680

TOTAL REVENUE $3,220,345

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,646,319

Fundraising Expenses $141,566

Program Expenses $2,203,886

Other Expenses $1,147,983

TOTAL EXPENSES $2,794,302

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,220,345	$2,591,619	+0.2%
Expenses	$2,794,302	$2,511,099	+0.1%
Net Income	$426,043	$80,520	+4.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$163,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICHOLAS M CALANDRA	CEO AND PRESIDENT	25.00	Officer	$163,000	$0	$163,000
RICHARD R IZZO	MEMBER	1.00	Director	$0	$0	$0
DAVID J NORTON	MEMBER	1.00	Director	$0	$0	$0
SUMMER HANDZLIK	MEMBER	0.00	Director	$0	$0	$0
JOSEPH P HATCH III	MEMBER AND SECRETARY	1.00	Officer Director	$0	$0	$0
FRANK DIMARIA	MEMBER AND TREASURER	0.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$3,193,542	$2,782,596	$3,202,818	$410,946
2024	$3,220,345	$2,794,302	$4,381,447	$426,043
2023	$2,715,627	$2,556,621	$3,863,978	$159,006
2022	$2,365,947	$2,200,819	$1,717,509	$165,128
2022	$2,388,696	$2,223,568	$1,717,509	$165,128
2021	$2,227,720	$1,824,736	$1,567,515	$402,984
2020	$1,309,462	$1,348,209	$385,917	$-38,747
2019	$1,443,996	$1,429,633	$488,327	$14,363
2018	$1,228,460	$1,137,708	$397,199	$90,752

HEARTS FOUNDATION INC