Hearts Path Charitable Foundation INC EIN 47-5625690

Hearts Path Charitable Foundation INC

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A private foundation based in Louisville, KY. It reported about $703K in revenue for 2025. For fiscal year 2025 it reported $703K in revenue, $652K in expenses, and $12.6M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Louisville, KY
Filings
6 on file (2020–2025)
Revenue
$703KFY2025
Expenses
$652K
Net assets
$12.6M
People
5
Filings
6
Updates
0
More identity details & actions ⌄
EIN  47-5625690 Private foundation / grantmaker Louisville, KY
Form 990 (PDF)
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Size
$100K–1M
What they do
A private foundation based in Louisville, KY. It reported about $703K in revenue for 2025.
Leadership
Sue Ellen Marshall-Herza · President · $26K
Money in and out
$703K revenue, $652K expenses
Bottom line
Grants paid & assets · FY2025
Total revenue
$703K
Pt VIII · Ln 12
Total expenses
$652K
Pt IX · Ln 25
Net assets
$12.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $51K
Total assets
12.6M
deployed as grants and operations
Grants paid
444K
in FY2025
Grants made
16grants
total in period
Payout rate
4%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 16 grants · $444K · 2025–2025
Norton Healthcare FoundationFY2025$125,000
White Pony ExpressFY2025$50,000
Sufism ReorientedFY2025$50,000
Bread of Life Christian Center INCFY2025$50,000
Mission Teens INCFY2025$30,000
Mt Zion Baptist ChurchFY2025$25,000
Meher Spiritual CenterFY2025$20,000
Kentucky Humane SocietyFY2025$20,000
Following FrancisFY2025$20,000
Passionist Earth & Spirit CenterFY2025$15,000
Palestine Children's Relief FundFY2025$10,000
St Jude Children's Research HospitalFY2025$10,000
American Humane AssociationFY2025$10,000
Family Scholar House INCFY2025$5,000
St John Center INCFY2025$2,000
Save the Children Federation INCFY2025$2,000

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$28K
Median grantPart XV$20K
Largest grantPart XV$125K

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Revenue
$703K
FY2025▼ -23%
Expenses
$652K
FY2025▼ -2%
Total assets
$12.6M
FY2025▲ +55%
Total liabilities
$0
FY2025
Total revenue
$703K
Pt VIII · Ln 12
Total expenses
$652K
Pt IX · Ln 25
Net assets
$12.6M
Pt X · Ln 32
Total assetsPt II$12.6M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHearts Path Charitable Foundation INC
EINHdr · item D47-5625690
Principal addressHdr · item CLouisville, KY
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T20)
Ruling yearIRS BMFApr 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$26,500Pt VII · Sec A
$26,500Pt VII · Sec A
$26,500Pt VII · Sec A
$26,500Pt VII · Sec A
$26,500Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024
Sue Ellen Marshall-Herza$26,500$25,000
Andrew Davidson$26,500$25,000
Emily Davidson$26,500$25,000
Wesley Spencer$26,500$25,000
Jonathon Davidson$26,500$25,000

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.

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Statement of Revenue

Part VIII
Investment income100%$703K
Other revenue$141
Total revenueLn 12$703K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.68 Operating & administrative $0.32
Grants & contributions paid68%$444K
Operating & administrative32%$208K
Total functional expensesLn 25$652K

Balance Sheet

Part X · end of year
CashLn 1$360K
Total assetsLn 16$12.6M
Total liabilitiesLn 26$0
Total net assetsLn 32$12.6M
Months of cash on handcomputed6.6

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $12.6M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $703K
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $703K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $703K · Prior year $913K
-23%
Revenue CAGR
FY2020 $610K · FY2025 $703K
+3%
Net-asset trend (YoY)
End of year $12.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $703K · Expenses $652K
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $12.6M
Net-asset ratio
Net assets $12.6M · Total assets $12.6M
100%
People & payroll
Highest Reported Total Compensation
Individual Sue Ellen Marshall-Herza · Reported title PRESIDENT · Highest reported compensation $26K · Total expenses $652K
4%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -23%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$703K revenue · viewing · ⤓ 990 PDF
FY2024$913K revenue · ⤓ 990 PDF
FY2023$912K revenue · ⤓ 990 PDF
FY2022$526K revenue · ⤓ 990 PDF
FY2021$979K revenue · ⤓ 990 PDF
FY2020$610K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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