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Corazon Puro

Tax-deductible

Paterson, NJ501(c)(3)EIN 80-0809161Revenue $1.3M in FY2024

On file with the IRScorazonpuro.org190 Butler St, 07524-1998 · Paterson, NJTax-exempt since Mar 1946Church — 170(b)(1)(A)(i)

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Equip youth, young adults, and families in vulnerable communities with leadership skills and resources necessary to restore family life and positively transform society.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 70 volunteers and 6 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 $31K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 19.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $90K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 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
$1.3M
+87% vs prior year
Spent
$1.2M
To programs
89%
Net assets
$722K
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▲ +87%
Tap a bar for its year
Revenue by fiscal year
FY2020$345K
FY2021$412K
FY2022$450K
FY2023$697K
FY2024$1.3M
Expenses
$1.2M
FY2024▲ +90%
Tap a bar for its year
Expenses by fiscal year
FY2020$307K
FY2021$450K
FY2022$436K
FY2023$642K
FY2024$1.2M
Net assets
$722K
FY2024▲ +25%
Tap a bar for its year
Net assets by fiscal year
FY2020$549K
FY2021$511K
FY2022$526K
FY2023$580K
FY2024$722K

From the FY2024 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: FY2024. IRS ruling in Mar 1946.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.1M Management & general 9% · $115K Fundraising 1% · $17K

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.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Timothy Hanley
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Corazon Puro 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 15aNo

Programs and updates

Empowers youth, young adults, and families with skills and resources to restore families and transform society.

Questions for Corazon Puro

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Provided by the organization

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3 programs · $839K · in their own filed words · FY2024
01

Osv

R.E.A.L: in partnership with our sunday visitor institute & the lilly endownment, this work titled "reawaken and educate authentic leaders" (R.E.A.L) will produce enculturated faith and vocational formation materials through printed and online resources in english and spanish for ministers, families, leaders, priests, parishes, and…

$539Kprogram expense
02

Missionary Formation

Corazon puro's missionary formation institute seeks the holy spirit's annointing to fulfill pope francis' desire for a "missionary option." mfi does this through:weekend conferences, a week-long nyc experience, online resources.

$226Kprogram expense
03

General Program

The corazon puro leadership program is at the heart of our organization's efforts to form youth and young adult leaders to become agents of change within their communities. Our objectives are to identify new leaders from vulnerable populations and accompany them through ongoing formation events and community.

$74Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Donor Advised Charitable Giving INCFY2024$65K
Sarita Kenedy East Foundation INCFY2024$25K
Total grants receivedfrom 2 funders$90K
Grants paid · 9 grants · $162K · 2020–2024
Unitemized GrantFY2024$27,022
Christ Cathedral ParishCA · FY2024$5,619
Unitemized GrantFY2023$36,819
Community of the Franciscan Friars of the RenewalNY · FY2023$6,380
Unitemized GrantFY2022$23,667
Community of the Franciscan Friars of the RenewalNY · FY2022$15,500
Unitemized GrantFY2021$25,542
Unitemized GrantFY2020$13,448
Community of the Franciscan Friars of the RenewalNY · FY2020$8,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$137K
Other incomeLn 4–11$25K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.1M
Managementcol C$115K
Fundraisingcol D$17K
Owns and owesPt X
$722K
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$137K
Investment incomeLn 3$8K
Other incomeLn 4–11$25K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$1.9M
SavingsLn 2$100K
Cash and savings togetherLn 1–2$2.0M
Land, buildings, equipmentLn 10c$197K
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.4M
Net assetsLn 32$722K
OperationsPt I, VI
EmployeesI 56
VolunteersI 670
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.7M$2.0M
Land, buildings, equipmentLn 10c$206K$197K
Total assetsLn 16$2.9M$2.2M
LiabilitiesLn 26$2.3M$1.4M
Net assetsLn 32$580K$722K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$27K$27K
Grants and assistance to foreign recipientsLn 3$23K$23K
Other salaries and wagesLn 7$286K$239K$35K$12K
Other employee benefitsLn 9$38K$10K$28K$141
Payroll taxesLn 10$28K$23K$3K$1K
Legal feesLn 11b$600$600
Accounting feesLn 11c$20K$20K
Other fees for servicesLn 11g$586K$583K$3K$101
Office expensesLn 13$46K$33K$10K$3K
Information technologyLn 14$20K$19K$1K$68
OccupancyLn 16$27K$25K$2K$64
TravelLn 17$75K$74K$63$329
Conferences, conventions and meetingsLn 19$9K$9K$796
InterestLn 20$901$901
Depreciation, depletion and amortizationLn 22$11K$10K$1K
InsuranceLn 23$9K$192$9K
Other expenses (24a–d)Ln 24$13K$11K$2K$258
Total functional expensesLn 25$1.2M$1.1M$115K$17K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$1.2M$87K$722K 990 PDF
FY2023 $697K$642K$55K$580K 990 PDF
FY2022 $450K$436K$14K$526K 990 PDF
FY2021 $412K$450K−$38K$511K 990 PDF
FY2020 $345K$307K$37K$549K 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 $1,306,135 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $653,838$1,137,255
I-9 Program service revenuePrior year $43,366$136,520
I-10 Investment incomePrior year $46$7,516
I-11 Other revenuePrior year −$402$24,844
I-12 Total revenuePrior year $696,848$1,306,135
I-13 Grants and similar amounts paidPrior year $48,699$50,331
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $170,361$351,399
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $422,972$817,549
I-18 Total expensesPrior year $642,032$1,219,279
I-19 Revenue less expensesPrior year $54,816$86,856
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,306,135 across 14 lines filed
Lines not itemized here account for $22,813 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$1,137,255
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,137,255
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $136,520 · Unrelated business $0 · Excluded from tax $0$136,520
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $7,516$7,516
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $159$159
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,872 · Unrelated business $0 · Excluded from tax $0$1,872
VIII-12 Total revenueRelated to mission $150,887 · Unrelated business $10,318 · Excluded from tax $7,675$1,306,135
Part IX · Statement of functional expenses $1,219,279 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $27,022$27,022
IX-3 Grants and assistance to foreign recipientsPrograms $23,309$23,309
IX-7 Other salaries and wagesPrograms $238,598 · Management $35,151 · Fundraising $11,834$285,583
IX-9 Other employee benefitsPrograms $9,624 · Management $28,362 · Fundraising $141$38,127
IX-10 Payroll taxesPrograms $23,407 · Management $3,168 · Fundraising $1,114$27,689
IX-11b Legal feesPrograms $600$600
IX-11c Accounting feesManagement $19,524$19,524
IX-11g Other fees for servicesPrograms $583,266 · Management $2,593 · Fundraising $101$585,960
IX-13 Office expensesPrograms $32,988 · Management $10,341 · Fundraising $2,724$46,053
IX-14 Information technologyPrograms $18,928 · Management $1,413 · Fundraising $68$20,409
IX-16 OccupancyPrograms $25,057 · Management $1,684 · Fundraising $64$26,805
IX-17 TravelPrograms $74,460 · Management $63 · Fundraising $329$74,852
IX-19 Conferences, conventions and meetingsPrograms $8,529 · Fundraising $796$9,325
IX-20 InterestManagement $901$901
IX-22 Depreciation, depletion and amortizationPrograms $9,880 · Management $1,448$11,328
IX-23 InsurancePrograms $192 · Management $9,041$9,233
IX-24 Other expenses (24a–d)Programs $10,535 · Management $1,766 · Fundraising $258$12,559
IX-25 Total functional expensesPrograms $1,086,395 · Management $115,455 · Fundraising $17,429$1,219,279
Part X · Balance sheet $2,166,073 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,580,981$1,859,293
X-2 Savings and temporary cash investmentsStart of year $123,886$100,000
X-8 Inventories for sale or useStart of year $3,609$6,496
X-9 Prepaid expenses and deferred chargesStart of year $2,341$3,029
X-10c Land, buildings and equipment, netStart of year $206,082$197,255
X-16 Total assetsStart of year $2,916,899$2,166,073
X-17 Accounts payable and accrued expensesStart of year $15,891$21,631
X-19 Deferred revenueStart of year $2,205,562$1,310,795
X-24 Unsecured notes and loans payableStart of year $115,871$111,592
X-26 Total liabilitiesStart of year $2,337,324$1,444,018
X-27 Net assets without donor restrictionsStart of year $579,575$722,055
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $579,575$722,055
X-33 Total liabilities and net assetsStart of year $2,916,899$2,166,073
Part XI · Reconciliation of net assets $722,055 net assets at year end
XI-1 Total revenue$1,306,135
XI-2 Total expenses$1,219,279
XI-3 Revenue less expenses$86,856
XI-4 Net assets at start of year$579,575
XI-5 Net unrealized gains (losses) on investments$55,624
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$722,055

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

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