Hearts United for Good Inc (EIN 465287924) - 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

2014

Legal Domicile

Phone

7044913321

Tax Period

2024-01-01 to 2024-12-31

Hearts United for Good Inc, founded in 2014, is a small nonprofit in the Unknown sector that reported $568K in total revenue in fiscal year 2024. Revenue surged 189% from the prior year, signaling strong growth momentum. Expenses of $496K left a modest 13% surplus.

Mission

Hearts United for Good strives to raise funds and awareness for organizations and people based in and around Charlotte, NC. We serve individuals and non-profit organizations in the greater Charlotte area through a variety of financial and non-financial means. Hearts United for Good has sustained programs in the following areas with a focus on inclusivity, equality and equity for all persons: Housing and Homelessness, Emerging Needs, Food Insecurity and Animal Welfare.

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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 $567,150

Program Service Revenue $0

Investment Income $0

Other Revenue $1,312

TOTAL REVENUE $568,462

Expense Breakdown

Grants Paid $0

Salaries & Benefits $32,595

Fundraising Expenses $4,252

Program Expenses $461,565

Other Expenses $463,365

TOTAL EXPENSES $495,960

Year-over-Year Comparison

	2024	2023	Change
Revenue	$568,462	$196,615	+1.9%
Expenses	$495,960	$185,402	+1.7%
Net Income	$72,502	$11,213	+5.5%

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

552

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

$32,595

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Steven Tilley	Director	10.00	Director	$32,595	$0	$32,595
Bethany McDonald	Director	10.00	Director	$0	$0	$0
Greg Godley	Chairman	20.00	Officer Director	$0	$0	$0
Tracee Karlsson	Treasurer	20.00	Officer Director	$0	$0	$0
Jessica Lefkowitz	Director	10.00	Director	$0	$0	$0
Paul Kelly	Chairman	20.00	Officer Director	$0	$0	$0
Ethan Hlebechuk	Secretary	20.00	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	$568,462	$495,960	$113,381	$72,502
2023	$196,615	$185,402	$38,319	$11,213
2022	$197,087	$198,119	$29,105	$-1,032
2021	$340,790	$361,509	$29,639	$-20,719
2020	$203,182	$151,387	$52,102	$51,795

Hearts United for Good Inc