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Hearts Foundation INC

Tax-deductible

Buffalo, NY501(c)(3)EducationEIN 16-1607748Revenue $3.2M in FY2024

On file with the IRSPo Box 437, 14223-0437 · Buffalo, NYTax-exempt since Aug 2001Supporting organization — 509(a)(3)

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The organization exists solely to support the activities and purposes of Hearts for the homeless of western new york INC. A 501c3 organization which provides physical, emotional, and spiritual relief to the homeless, poor and distressed and shares the gospel of jesus christ

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Run by 50 volunteers and 45 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $220K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$163K
to officers and key staff · 6% of spending
Top officer’s pay higher than 71% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.0M
94% of total assets
Concern: liabilities are 94% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.2M
+18% vs prior year
Spent
$2.8M
To programs
79%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$3.2M
FY2024▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$2.2M
FY2022$2.4M
FY2023$2.7M
FY2024$3.2M
Expenses
$2.8M
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.8M
FY2022$2.2M
FY2023$2.6M
FY2024$2.8M
Net assets
$1.3M
FY2024▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2020$210K
FY2021$613K
FY2022$778K
FY2023$937K
FY2024$1.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $2.2M Management & general 16% · $449K Fundraising 5% · $142K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $163K paid to officers and key staff.

Part VII, Section A · reportable compensation
Nicholas M Calandra
CEO and President
$163,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joseph P Hatch III
Member and Secretary
$0Pt VII · Sec A
Frank Dimaria
Member and Treasurer
$0Pt VII · Sec A

Nicholas M Calandra’s $163K as CEO and President is at the 71st percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Nicholas M Calandra$163,000$155,232$61,464$57,816$97,822

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Hearts Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports homeless, poor, and distressed with physical, emotional, and spiritual relief, sharing the Gospel.

Provided by the organization

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2 programs · $2.2M · in their own filed words · FY2024
01

The organization operates a thrift shop, where net resources are used to support the activities and purposes of hearts for the homeless of western new york, inc., an organization described in irc code section 501(c)(3), which provides physical, emotional, and spiritual relief to the homeless, poor, and distressed.

$2.2Mprogram expense
02

During the year ended december 31, 2024, the organization recorded $273,051 in support from its related entity, hearts for the homeless of western new york, inc. This amount represents a journal entry to reflect the transfer of property to hearts foundation, inc., rather than a cash or check transaction.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.2M
Ln 12
Gifts and grantsLn 1h$2.4M
Other incomeLn 4–11$814K
Investment incomeLn 3$10K
Money outPt IX
$2.8M
Ln 25
Programscol B$2.2M
Managementcol C$449K
Fundraisingcol D$142K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$710K
Total assetsLn 16$3.2M
LiabilitiesLn 26$3.0M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Noncash giftsLn 1g$2.4M
Investment incomeLn 3$10K
Other incomeLn 4–11$814K
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
CashLn 1$47K
SavingsLn 2$663K
Cash and savings togetherLn 1–2$710K
Land, buildings, equipmentLn 10c$2.4M
Other assetsLn 15$1.0M
Total assetsLn 16$3.2M
LiabilitiesLn 26$3.0M
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 545
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$550K$710K
Land, buildings, equipmentLn 10c$1.9M$2.4M
Total assetsLn 16$3.9M$4.4M
LiabilitiesLn 26$2.9M$3.0M
Net assetsLn 32$937K$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$178K$45K$89K$45K
Other salaries and wagesLn 7$1.4M$1.1M$242K$27K
Other employee benefitsLn 9$52K$24K$28K
Legal feesLn 11b$87$87
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$95K$77K$18K
Advertising and promotionLn 12$62K$8K$7K$46K
Office expensesLn 13$6K$6K
Information technologyLn 14$58K$54K$4K$79
OccupancyLn 16$244K$236K$8K
TravelLn 17$211K$209K$2K
InterestLn 20$26K$25K$957
Depreciation, depletion and amortizationLn 22$173K$168K$4K
InsuranceLn 23$40K$40K
Other expenses (24a–d)Ln 24$163K$155K$9K
All other expensesLn 24e$62K$16K$23K$23K
Total functional expensesLn 25$2.8M$2.2M$449K$142K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.2M$2.8M$411K$1.3M 990 PDF
FY2023 $2.7M$2.6M$159K$937K 990 PDF
FY2022 $2.4M$2.2M$165K$778K 990 PDF
FY2021 $2.2M$1.8M$403K$613K 990 PDF
FY2020 $1.3M$1.3M−$39K$210K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $3,220,345 revenue, 12 lines filed
I-8 Contributions and grants$2,369,742
I-9 Program service revenue$0
I-10 Investment incomePrior year $82$9,923
I-11 Other revenuePrior year $2,591,537$840,680
I-12 Total revenuePrior year $2,591,619$3,220,345
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,446,321$1,646,319
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,064,778$1,147,983
I-18 Total expensesPrior year $2,511,099$2,794,302
I-19 Revenue less expensesPrior year $80,520$426,043
Part VI · Governance 5 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,220,345 across 8 lines filed
Lines not itemized here account for $860,313 of total revenue; see the IRS return.
VIII-1d Related organizations$273,051
VIII-1f All other contributions, gifts and grants$2,096,691
VIII-1g Noncash contributions (included above)$2,369,742
VIII-1h Total contributions, gifts and grants$2,369,742
VIII-3 Investment incomeRelated to mission $9,923$9,923
VIII-6 Net rental income or lossRelated to mission −$19,633−$19,633
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $881,915 · Unrelated business −$31,312 · Excluded from tax $0$3,220,345
Part IX · Statement of functional expenses $2,794,302 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $44,571 · Management $89,143 · Fundraising $44,571$178,285
IX-7 Other salaries and wagesPrograms $1,146,377 · Management $242,439 · Fundraising $27,001$1,415,817
IX-9 Other employee benefitsPrograms $24,272 · Management $27,945$52,217
IX-11b Legal feesManagement $87$87
IX-11c Accounting feesManagement $6,950$6,950
IX-11g Other fees for servicesPrograms $76,935 · Management $17,948$94,883
IX-12 Advertising and promotionPrograms $8,411 · Management $7,239 · Fundraising $46,483$62,133
IX-13 Office expensesManagement $6,364$6,364
IX-14 Information technologyPrograms $54,339 · Management $3,804 · Fundraising $79$58,222
IX-16 OccupancyPrograms $236,001 · Management $7,552$243,553
IX-17 TravelPrograms $209,267 · Management $2,165$211,432
IX-20 InterestPrograms $24,661 · Management $957$25,618
IX-22 Depreciation, depletion and amortizationPrograms $168,371 · Management $4,361$172,732
IX-23 InsurancePrograms $40,461$40,461
IX-24 Other expenses (24a–d)Programs $154,623 · Management $8,847$163,470
IX-24e All other expensesPrograms $15,597 · Management $23,049 · Fundraising $23,432$62,078
IX-25 Total functional expensesPrograms $2,203,886 · Management $448,850 · Fundraising $141,566$2,794,302
Part X · Balance sheet $4,381,447 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $75,323$47,395
X-2 Savings and temporary cash investmentsStart of year $475,024$662,861
X-4 Accounts receivableStart of year $69,623$66,353
X-8 Inventories for sale or useStart of year $124,008$142,107
X-9 Prepaid expenses and deferred chargesStart of year $16,090$12,318
X-10c Land, buildings and equipment, netStart of year $1,941,141$2,404,507
X-15 Other assetsStart of year $1,162,769$1,045,906
X-16 Total assetsStart of year $3,863,978$4,381,447
X-17 Accounts payable and accrued expensesStart of year $152,248$342,415
X-19 Deferred revenueStart of year $41,850$155
X-25 Other liabilitiesStart of year $1,455,810$1,074,303
X-26 Total liabilitiesStart of year $2,926,704$3,018,130
X-27 Net assets without donor restrictionsStart of year $937,274$1,363,317
X-32 Total net assets or fund balancesStart of year $937,274$1,363,317
X-33 Total liabilities and net assetsStart of year $3,863,978$4,381,447
Part XI · Reconciliation of net assets $1,363,317 net assets at year end
XI-1 Total revenue$3,220,345
XI-2 Total expenses$2,794,302
XI-3 Revenue less expenses$426,043
XI-4 Net assets at start of year$937,274
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,363,317

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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