HEART GALLERY OF NEW MEXICO FOUNDA… - Form 990 Financial Data

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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

2006

Legal Domicile

Principal Officer

CATHY MCCORKLE

Phone

5059340611

Tax Period

2024-01-01 to 2024-12-31

HEART GALLERY OF NEW MEXICO FOUNDATION, founded in 2006, is a small nonprofit in the Human Services sector that reported $310K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum.

Mission

THE FOUNDATION WAS CREATED TO RAISE & MANAGE FUNDS TO SUPPORT THE EFFORTS OF THE HEART GALLERY OF NEW MEXICO AND OTHER RELATED PROGRAMS & EVENTS. AN ADDITIONAL PURPOSE IS TO EDUCATE THE PUBLIC AND RAISE AWARENESS OF THE NEED FOR ADOPTIVE & FOSTER CARE FAMILIES FOR NEW FOSTER CHILD SUPPORT.

Program Service Accomplishments

Program 1

Expenses: $212,029

FOSTER CHILD SUPPORT: THIS PROGRAM PROMOTES A SAFE AND PRODUCTIVE TRANSITION TO INDEPENDENT LIVING FOR YOUTHE WHO "AGE OUT" OF THE FOSTER CARE SYSTEM AT 18-21. THE ORGANIZATION HELPS THEM ACCESS...

FOSTER CHILD SUPPORT: THIS PROGRAM PROMOTES A SAFE AND PRODUCTIVE TRANSITION TO INDEPENDENT LIVING FOR YOUTHE WHO "AGE OUT" OF THE FOSTER CARE SYSTEM AT 18-21. THE ORGANIZATION HELPS THEM ACCESS EDUCATION, EMPLOYMENT AND LIFE SKILLS, AND MENTORING TO ENSURE A SUSTAINABLE FUTURE. ALSO, THE ORGANIZATION HELPS TEENS, PRE-TEENS, SIBLING GROUPS AND MILDLY DISABLE FOSTER CHILDREN RECEIVE OPPORTUNITIES AND SERVICES FOR PERSONAL GROWTH, AS WELL AS IMPOVED MENTAL & PHYSICAL HEALTH, BY PROVIDING ASSISTANCE IN THE FORM OF HOUSING SUPPORT, EDUCATIONAL SUPPORT, DRIVER'S EDUCATION, COOKING CLASSES, ETC.

Program 2

HEART GLAALERY EXHIBITIONS: THESE EXHIBITIONS ARE TO ASSURE AN INCREASE IN "HARD TO PLACE" ADOPTIONS BY ASSISTING THE NEW MEXICO CHOLDREN, YOUTH AND FAMILIES DEPARTMENT. THE EXHIBITIONS DISPLAY...

HEART GLAALERY EXHIBITIONS: THESE EXHIBITIONS ARE TO ASSURE AN INCREASE IN "HARD TO PLACE" ADOPTIONS BY ASSISTING THE NEW MEXICO CHOLDREN, YOUTH AND FAMILIES DEPARTMENT. THE EXHIBITIONS DISPLAY PORTRAITS OF FOSTER-CHILDREN TAKEN BY NEW MEXICAN PHOTOGRAPHERS AS A CREATIVE WAY TO ENCOURAGE ADOPTION. HEART GALLERIES ARE PLACED IN PUBLIC PLACES THROUGHOUT NEW MEXICO.

Program 3

GENERAL PROGAMS & PUBLIC AWARENESS: THE PROGRAM STIVES TO 1) ADVANCE PUBLIC AWARENESS AND ENCOURAGE ADOPTION AND FOSTER PARENTING; 2) COVEY THE REALITY OF LIFE AS A FOSTER CHILD; AND 3) DISSOLVE THE MYTHS AND FEARS OF ADOPTION BY USING POSITIVE ROLE MODELS OF SUCCESS AND RELAYING LIFE CHANGING POSITIVE OPPORTUNITIES.

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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 $213,173

Program Service Revenue $0

Investment Income $107

Other Revenue $96,630

TOTAL REVENUE $309,910

Expense Breakdown

Grants Paid $157,086

Salaries & Benefits $74,059

Fundraising Expenses $72,337

Program Expenses $216,253

Other Expenses $92,664

TOTAL EXPENSES $323,809

Year-over-Year Comparison

	2024	2023	Change
Revenue	$309,910	$244,874	+0.3%
Expenses	$323,809	$278,261	+0.2%
Net Income	$-13,899	$-33,387	-0.6%

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

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

Total Directors

$60,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GERALD PETERS	PRESIDENT	0.25	Officer Director	$0	$0	$0
MARJORI KREBS	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
CATHY MCCORKLE	TREASURER	2.00	Officer Director	$0	$0	$0
ANGELA R ROMERO	SECRETARY	1.00	Officer Director	$0	$0	$0
CANDACE GOULD	EXECUTIVE DI	40.00	Director	$60,000	$0	$60,000
JEFFREY BRANCH	DIRECTOR	0.50	Director	$0	$0	$0
MICHELLE BRANCH	DIRECTOR	0.50	Director	$0	$0	$0
SUSAN F DARNELL	DIRECTOR	0.50	Director	$0	$0	$0
SHERMAN MCCORKLE	DIRECTOR	0.50	Director	$0	$0	$0
GEORGE MUNOZ	DIRECTOR	0.25	Director	$0	$0	$0
COLT BALOK	DIRECTOR	0.50	Director	$0	$0	$0
KURSTIN JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
STACIE JOHNSON DAVIS	DIRECTOR	0.50	Director	$0	$0	$0
KELLY LAWRENCE	DIRECTOR	0.50	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
2025	No data	No data	No data	No data
2024	$309,910	$323,809	$396,273	$-13,899
2023	$244,874	$278,261	$416,192	$-33,387
2023	$244,874	$278,261	$416,192	$-33,387
2022	$279,336	$186,555	$450,711	$92,781
2021	$221,846	$143,636	$357,977	$78,210
2018	$244,112	$165,998	$330,415	$78,114

HEART GALLERY OF NEW MEXICO FOUNDATION