OPEN HEARTS FOUNDATION

EIN: 271215063 501(c)(3) Youth Development

WESTLAKE VILLAGE, CA

Total Revenue
$545,068
Total Expenses
$456,087
Total Assets
$560,972
Net Assets
$560,972
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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
2010
Legal Domicile
CA
Principal Officer
TIM MALLAD
Phone
8058521367
Tax Period
2023-01-01 to 2023-12-31

OPEN HEARTS FOUNDATION, founded in 2010, is a small nonprofit in the Youth Development sector that reported $545K in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $89K, a strong 16% operating margin.

Mission

IN 2023, THE OPEN HEARTS FOUNDATION HOSTED A VARIETY OF VOLUNTEER EXPERIENCES INSPIRING VOLUNTEERISM ACROSS THE GLOBE AS WELL AS SUPPORTING ITS CHARITY PARTNERS AND VARIOUS CAUSES. THE FOUNDATION PROVIDED GRANTS IN ITS LARGEST GRANT CYCLE IN ITS HISTORY GIVING 19 GRANTS TO CHARITIES ACROSS THE UNITED STATES. THE FOUNDATION ALSO RETURNED TO ITS PRE-PANDEMIC FUNDRAISING MODEL OF HOSTING A TWO DAY CELEBRATION OF ITS MISSION THROUGH ITS CELEBRATORY GALA IN MAY. ADDITIONALLY, THE FOUNDATION ENGAGED ITS DONORS IN TWO CHIT CHATS AND A PRIVATE DONOR RECEPTION IN NOVEMBER.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $760,476
Program Service Revenue $0
Investment Income $2,928
Other Revenue $-218,336
TOTAL REVENUE $545,068

Expense Breakdown

Grants Paid $250,000
Salaries & Benefits $148,060
Fundraising Expenses $51,530
Program Expenses $340,876
Other Expenses $58,027
TOTAL EXPENSES $456,087

Year-over-Year Comparison

2023 2022 Change
Revenue $545,068 $424,897 +0.3%
Expenses $456,087 $383,562 +0.2%
Net Income $88,981 $41,335 +1.2%
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

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Governance

Voting Members
7
Independent Members
7
Employees
2
Volunteers
69

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
4
$113,416
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIM MALLAD CHAIR 2.00
Officer Director
$0 $0 $0
MICHAEL DESTEFANO TREASURER 1.00
Officer Director
$0 $0 $0
JULIE GALLO VANDER WALL SECRETARY 1.00
Officer Director
$0 $0 $0
JANE SEYMOUR CO-FOUNDER / BOARD MEMBER 1.00
Director
$0 $0 $0
RICH GOLD BOARD MEMBER 1.00
Director
$0 $0 $0
JANE INCH BOARD MEMBER 1.00
Director
$0 $0 $0
MARK EBLING BOARD MEMBER 1.00
Director
$0 $0 $0
TRENA PITCHFORD EXECUTIVE DIRECTOR 40.00
Officer
$113,416 $0 $113,416
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 $545,068 $456,087 $560,972 $88,981
2022 $424,897 $383,562 $471,991 $41,335
2021 $373,217 $324,004 $430,656 $49,213
2020 $530,248 $543,321 $381,443 $-13,073
2019 $458,493 $394,625 $413,679 $63,868
2018 $533,803 $369,672 $365,028 $164,131
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