FOUNDATION OF THE HEART

EIN: 841562020 501(c)(3) Religion

COLORADO SPRINGS, CO

Total Revenue
$182,386
Total Expenses
$1,434,067
Total Assets
$9,131,237
Net Assets
$9,120,306
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
CO
Principal Officer
VANCE BROWN
Phone
7196611244
Tax Period
2020-01-01 to 2020-12-31

FOUNDATION OF THE HEART, founded in 2001, is a small nonprofit in the Religion sector that reported $182K in total revenue in fiscal year 2020. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 686% operating deficit.

Mission

TOGETHER WITH PARTNER CHURCHES, CONDUCTS CHRISTIAN WORSHIP, BIBLE STUDY AND PRAYER, AND ASSISTS INDIVIDUALS FROM PARTNER CHURCHES IN THEIR JOURNEY FROM SUCCESS TO MEANING, ADDICTIONS TO FREEDOM AND SELFISHNESS TO GOD'S CALL THROUGH EVANGELISM AND DISCIPLESHIP.

Program Service Accomplishments

Program 1
Expenses: $1,317,318 Revenue: $95,444

FOUNDATION OF THE HEART CONDUCTS CHRISTIAN WORSHIP, EVANGELISM AND DISCIPLESHIP AT BEAR TRAP RANCH, WHICH IS A 30 ACRE RETREAT AND CONFERENCE CENTER ON UNITED STATES FOREST SERVICE LAND. IN 2020 WE...

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FOUNDATION OF THE HEART CONDUCTS CHRISTIAN WORSHIP, EVANGELISM AND DISCIPLESHIP AT BEAR TRAP RANCH, WHICH IS A 30 ACRE RETREAT AND CONFERENCE CENTER ON UNITED STATES FOREST SERVICE LAND. IN 2020 WE SERVED 4 CHURCHES, 3 NATIONAL AND 1 INTERNATIONAL MINISTRIES, AND 1 YOUTH ORGANIZATION. THESE CHURCHES, MINISTRIES, GROUPS AND ORGANIZATIONS CAME FROM OUR LOCAL COUNTY AND THROUGHOUT THE STATE OF COLORADO.

Program 2

FACILITATED OPPORTUNITIES FOR INDIVIDUALS TO PROVIDE SUPPORT TO VARIOUS MINISTRY ACTIVITIES.

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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 (2020)

Revenue Breakdown

Contributions & Grants $297,211
Program Service Revenue $95,444
Investment Income $3,483
Other Revenue $-213,752
TOTAL REVENUE $182,386

Expense Breakdown

Grants Paid $720,500
Salaries & Benefits $296,963
Fundraising Expenses $0
Program Expenses $1,317,318
Other Expenses $416,604
TOTAL EXPENSES $1,434,067

Year-over-Year Comparison

2020 2019 Change
Revenue $182,386 $841,090 -0.8%
Expenses $1,434,067 $1,038,246 +0.4%
Net Income $-1,251,681 $-197,156 +5.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
17
Volunteers
N/A

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
3
$30,870
Total Directors
3
$30,870
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VANCE BROWN CHAIRMAN 10.00
Officer Director
$0 $0 $0
MATTHEW DEALY CEO AND PRESIDENT 30.00
Officer Director
$12,000 $18,870 $30,870
PETE GANNON SECRETARY 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
2020 $182,386 $1,434,067 $9,131,237 $-1,251,681
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