Hart Square Foundation INC

Tax-deductible

Vale, NC501(c)(3)Foundations & GrantmakersEIN 56-2232193Revenue $938K in FY2025

On file with the IRShartsquare.com5055 Hope Rd, 28168-5744 · Vale, NCTax-exempt since Oct 2002Publicly supported — 509(a)(2)

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To preserve Hart Square village and share traditional arts and trades

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Run by 550 volunteers and 7 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $313K a year · 29% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$896K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$938K
-6% vs prior year
Spent
$1.1M
To programs
78%
Net assets
$5.4M
By yearFY2020–FY2025
Revenue
$938K
FY2025▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$402K
FY2022$1.7M
FY2023$1.0M
FY2024$1.0M
FY2025$938K
Expenses
$1.1M
FY2025▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$379K
FY2021$462K
FY2022$746K
FY2023$839K
FY2024$1.1M
FY2025$1.1M
Net assets
$5.4M
FY2025▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.9M
FY2021$5.2M
FY2022$5.1M
FY2023$5.4M
FY2024$5.5M
FY2025$5.4M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2002.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $840K Management & general 17% · $185K Fundraising 4% · $46K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Hart Square 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Preserves a historic village and shares traditional arts and trades.

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Provided by the organization

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3 programs · $840K · in their own filed words · FY2025
01

Historic Preservation

Hart square foundation preserves and restores the 103 historic structures that comprise the hart square village open-air museum. Priority restoration projects are identified and completed annually. Projects include re-roofing, foundation stabilization, rotten log replacement, chinking, daubing, water damage remediation, and more.

$410Kprogram expense
02

Community Events

Hart square village is shared at events that preserve cultural heritage by showcasing traditional arts, trades and practices of north carolina. Folklife cultural traditions are featured through a wide slate of annual offerings including traditional dance, music, cultural foodways, immersive folklife demonstrations and a foklife film…

$240Kprogram expense
03

Hart square foundation creates lifelong learning opportunities that allow participants to engage in hands-on history through field trips, traditional craft and trade classes, and historic group tours. Programming centers around traditional arts and trades, science and agriculture, and history immersion.

$191Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$938K
Ln 12
Gifts and grantsLn 1h$449K
Fees for servicesLn 2g$327K
Investment incomeLn 3$122K
Money outPt IX
$1.1M
Ln 25
Programscol B$840K
Managementcol C$185K
Fundraisingcol D$46K
Owns and owesPt X
$5.4M
net assets · Ln 32
Cash and savingsLn 1–2$180K
Total assetsLn 16$6.3M
LiabilitiesLn 26$896K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$449K
Government grantsLn 1e$18K
Noncash giftsLn 1g$53K
Fees for servicesLn 2g$327K
Investment incomeLn 3$122K
Other incomeLn 4–11$40K
Gains on assetsLn 7$73K
Total revenueLn 12$938K
Assets in detailPt X, end of year
CashLn 1$131K
SavingsLn 2$49K
Cash and savings togetherLn 1–2$180K
InvestmentsLn 11–13$1.9M
Land, buildings, equipmentLn 10c$4.2M
Total assetsLn 16$6.3M
LiabilitiesLn 26$896K
Net assetsLn 32$5.4M
OperationsPt I, VI
EmployeesI 57
VolunteersI 6550
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$414K$180K
InvestmentsLn 11–13$1.6M$1.9M
Land, buildings, equipmentLn 10c$4.3M$4.2M
Total assetsLn 16$6.4M$6.3M
LiabilitiesLn 26$920K$896K
Net assetsLn 32$5.5M$5.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$364K$291K$36K$36K
Pension plan contributionsLn 8$8K$7K$820$820
Other employee benefitsLn 9$35K$28K$3K$3K
Payroll taxesLn 10$30K$24K$3K$3K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$22K$22K
Investment management feesLn 11f$9K$9K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$18K$18K
Office expensesLn 13$30K$30K
Information technologyLn 14$23K$21K$2K
OccupancyLn 16$29K$26K$3K
TravelLn 17$5K$5K
InterestLn 20$36K$33K$4K
Depreciation, depletion and amortizationLn 22$139K$125K$14K
InsuranceLn 23$51K$46K$5K
Other expenses (24a–d)Ln 24$244K$238K$6K
All other expensesLn 24e$6K$4K$2K
Total functional expensesLn 25$1.1M$840K$185K$46K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $938K$1.1M−$133K$5.4M 990 PDF
FY2024 $1.0M$1.1M−$52K$5.5M 990 PDF
FY2023 $1.0M$839K$166K$5.4M 990 PDF
FY2022 $1.7M$746K$1.0M$5.1M 990 PDF
FY2021 $402K$462K−$60K$5.2M 990 PDF
FY2020 $1.3M$379K$957K$4.9M 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 FY2025 990 (6 parts)
Part I · Summary $938,436 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $563,145$449,096
I-9 Program service revenuePrior year $321,066$327,130
I-10 Investment incomePrior year $92,504$122,094
I-11 Other revenuePrior year $26,263$40,116
I-12 Total revenuePrior year $1,002,978$938,436
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $376,399$437,382
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $679,070$633,755
I-18 Total expensesPrior year $1,055,469$1,071,137
I-19 Revenue less expensesPrior year −$52,491−$132,701
Part VI · Governance 7 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $938,436 across 10 lines filed
Lines not itemized here account for $10,207 of total revenue; see the IRS return.
VIII-1e Government grants$18,384
VIII-1f All other contributions, gifts and grants$430,712
VIII-1g Noncash contributions (included above)$53,438
VIII-1h Total contributions, gifts and grants$449,096
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $327,130$327,130
VIII-3 Investment incomeExcluded from tax $48,726$48,726
VIII-6 Net rental income or lossUnrelated business $26,674$26,674
VIII-7 Net gain or loss on sales of assetsExcluded from tax $73,368$73,368
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,235$3,235
VIII-12 Total revenueRelated to mission $340,572 · Unrelated business $26,674 · Excluded from tax $122,094$938,436
Part IX · Statement of functional expenses $1,071,137 across 18 lines filed
IX-7 Other salaries and wagesPrograms $291,420 · Management $36,428 · Fundraising $36,427$364,275
IX-8 Pension plan contributionsPrograms $6,560 · Management $820 · Fundraising $820$8,200
IX-9 Other employee benefitsPrograms $27,943 · Management $3,493 · Fundraising $3,493$34,929
IX-10 Payroll taxesPrograms $23,982 · Management $2,998 · Fundraising $2,998$29,978
IX-11b Legal feesManagement $19,099$19,099
IX-11c Accounting feesManagement $21,547$21,547
IX-11f Investment management feesManagement $9,056$9,056
IX-11g Other fees for servicesPrograms $1,635$1,635
IX-12 Advertising and promotionManagement $18,397$18,397
IX-13 Office expensesManagement $29,701$29,701
IX-14 Information technologyPrograms $21,098 · Management $2,344$23,442
IX-16 OccupancyPrograms $25,848 · Management $2,872$28,720
IX-17 TravelManagement $5,137$5,137
IX-20 InterestPrograms $32,827 · Management $3,647$36,474
IX-22 Depreciation, depletion and amortizationPrograms $124,749 · Management $13,861$138,610
IX-23 InsurancePrograms $46,229 · Management $5,137$51,366
IX-24 Other expenses (24a–d)Programs $238,009 · Management $6,402$244,411
IX-24e All other expensesManagement $4,331 · Fundraising $1,829$6,160
IX-25 Total functional expensesPrograms $840,300 · Management $185,270 · Fundraising $45,567$1,071,137
Part X · Balance sheet $6,291,391 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $242,224$130,709
X-2 Savings and temporary cash investmentsStart of year $171,816$48,820
X-3 Pledges and grants receivableStart of year $1,150$0
X-4 Accounts receivableStart of year $4,239$11,293
X-10c Land, buildings and equipment, netStart of year $4,323,636$4,206,935
X-11 Publicly traded securitiesStart of year $1,632,083$1,893,634
X-16 Total assetsStart of year $6,375,148$6,291,391
X-17 Accounts payable and accrued expensesStart of year $3,029$16,863
X-26 Total liabilitiesStart of year $919,792$895,521
X-27 Net assets without donor restrictionsStart of year $5,455,356$5,395,870
X-32 Total net assets or fund balancesStart of year $5,455,356$5,395,870
X-33 Total liabilities and net assetsStart of year $6,375,148$6,291,391
Part XI · Reconciliation of net assets $5,395,870 net assets at year end
XI-1 Total revenue$938,436
XI-2 Total expenses$1,071,137
XI-3 Revenue less expenses−$132,701
XI-4 Net assets at start of year$5,455,356
XI-5 Net unrealized gains (losses) on investments$73,215
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,395,870

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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