SECOND HEART HOMES INC

EIN: 841848246 501(c)(3) Housing & Shelter

SARASOTA, FL

Total Revenue
$2,966,641
Total Expenses
$1,696,105
Total Assets
$5,928,438
Net Assets
$5,771,391
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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
2019
Principal Officer
MEGAN HOWELL
Phone
9412019353
Tax Period
2025-01-01 to 2025-12-31

SECOND HEART HOMES INC, founded in 2019, is a community nonprofit in the Housing & Shelter sector that reported $3.0M in total revenue in fiscal year 2025. The organization ran a surplus of $1.3M, a strong 43% operating margin.

Mission

THE MISSION OF SECOND HEART HOMES IS TO REVIVE THE DIGNITY OF HOMELESS ADULTS WITH MENTAL ILLNESSES THROUGH HOUSING, SUPPORT, AND LOVE.

Program Service Accomplishments

Program 1
Expenses: $1,223,419 Revenue: $541,431

THE SECOND HEART HOMES' PROGRAM PROVIDES HOUSING WITH SUPPORTIVE SOCIAL SERVICES THROUGH CASE MANAGEMENT TO HOMELESS SINGLE ADULTS WITH MENTAL ILLNESSES SO THEY HAVE A PLACE TO LIVE AND REACH THEIR...

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THE SECOND HEART HOMES' PROGRAM PROVIDES HOUSING WITH SUPPORTIVE SOCIAL SERVICES THROUGH CASE MANAGEMENT TO HOMELESS SINGLE ADULTS WITH MENTAL ILLNESSES SO THEY HAVE A PLACE TO LIVE AND REACH THEIR HIGHEST LEVEL OF SELF-SUFFICIENCY.

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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 (2025)

Revenue Breakdown

Contributions & Grants $2,366,547
Program Service Revenue $541,431
Investment Income $58,659
Other Revenue $4
TOTAL REVENUE $2,966,641

Expense Breakdown

Grants Paid $0
Salaries & Benefits $946,498
Fundraising Expenses $120,796
Program Expenses $1,223,419
Other Expenses $749,607
TOTAL EXPENSES $1,696,105

Year-over-Year Comparison

2025 2024 Change
Revenue $2,966,641 $2,960,130 +0.0%
Expenses $1,696,105 $1,209,423 +0.4%
Net Income $1,270,536 $1,750,707 -0.3%
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

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
16
Volunteers
146

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
1
$131,310
Total Directors
8
$131,310
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MEGAN HOWELL EXECUTIVE DI 40.00
Officer Director
$131,310 $0 $131,310
CLAUDIA BARNETT DIRECTOR 2.00
Director
$0 $0 $0
CHERI CORYEA DIRECTOR 2.00
Director
$0 $0 $0
JAMES COX DIRECTOR 2.00
Director
$0 $0 $0
DAVID LYONS DIRECTOR 2.00
Director
$0 $0 $0
ERIKA QUARTERMAINE DIRECTOR 2.00
Director
$0 $0 $0
THOMAS TRYON DIRECTOR 2.00
Director
$0 $0 $0
DAVID WELLE DIRECOTR 2.00
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 $2,966,641 $1,696,105 $5,928,438 $1,270,536
2024 $2,960,130 $1,209,423 $4,806,966 $1,750,707
2023 $1,893,085 $863,929 $3,196,630 $1,029,156
2022 $1,321,310 $619,430 $2,193,628 $701,880
2021 $1,159,715 $333,245 $1,699,598 $826,470
2021 $1,159,715 $333,245 $1,699,598 $826,470
2020 $315,883 $184,528 $614,893 $131,355
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