Heartworks Inc (EIN 205555551) - 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

2007

Legal Domicile

Principal Officer

Megan McDowell

Phone

9087664400

Tax Period

2023-01-01 to 2023-12-31

Heartworks Inc, founded in 2007, is a small nonprofit in the Youth Development sector that reported $311K in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring.

Mission

Heartworks is a local movement of women committed to replicating and sustaining the kindness and connection witnessed in the wake of September 11, 2001. Inspired by the healing that takes place through receiving and giving, we offer hope to people experiencing a chronic illness with an acute need, an unexpected injury, a natural disaster, or unbearable grief, while taking part in our own self-growth.

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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 (2023)

Revenue Breakdown

Contributions & Grants $361,891

Program Service Revenue $0

Investment Income $360

Other Revenue $-51,586

TOTAL REVENUE $310,665

Expense Breakdown

Grants Paid $146,136

Salaries & Benefits $142,414

Fundraising Expenses $32,106

Program Expenses $280,228

Other Expenses $51,931

TOTAL EXPENSES $340,481

Year-over-Year Comparison

	2023	2022	Change
Revenue	$310,665	$414,514	-0.3%
Expenses	$340,481	$541,133	-0.4%
Net Income	$-29,816	$-126,619	-0.8%

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

$85,924

Total Directors

$85,924

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Megan McDowell	CEO	40.00	Officer Director	$85,924	$0	$85,924
Clara Heffernan	Chairman	10.00	Officer Director	$0	$0	$0
Aimee Hunnewell	Director	10.00	Officer Director	$0	$0	$0
Carolyn Rooney	Director	10.00	Officer Director	$0	$0	$0
Jessica Walker Hawthorne	Director	10.00	Officer Director	$0	$0	$0
Kathy Watrous	Director	10.00	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	No data	No data	No data	No data
2023	$310,665	$340,481	$149,578	$-29,816
2022	$414,514	$541,133	$166,798	$-126,619
2021	$436,166	$389,152	$294,526	$47,014
2020	$489,569	$504,813	$302,801	$-15,244
2019	$389,143	$451,302	$288,858	$-62,159
2018	$412,318	$409,082	$324,786	$3,236

Heartworks Inc