Second Heart Homes INC FY2024 filing

Tax-deductible

Bradenton, FL501(c)(3)Since 2019HousingEIN 84-1848246Revenue $3.0M in FY2024

On file with the IRSsecondhearthomes.org5190 26th St W Ste A, 34207-2200 · Bradenton, FLTax-exempt since Oct 2019Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of Second Heart Homes is to revive the dignity of homeless adults with mental illnesses through housing, support, and love.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
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
6 of 6
filings with a surplus
Average surplus $952K a year · 54% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$100K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 14.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
27
named funders · $2.1M
Looks good: 27 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$324K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 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
$3.0M
+56% vs prior year
Spent
$1.2M
To programs
72%
Net assets
$4.5M
By yearFY2020–FY2025
Revenue
$3.0M
FY2024▲ +56%
Tap a bar for its year
Revenue by fiscal year
FY2020$316K
FY2021$1.2M
FY2022$1.3M
FY2023$1.9M
FY2024$3.0M
FY2025$3.0M
Expenses
$1.2M
FY2024▲ +40%
Tap a bar for its year
Expenses by fiscal year
FY2020$185K
FY2021$333K
FY2022$619K
FY2023$864K
FY2024$1.2M
FY2025$1.7M
Net assets
$4.5M
FY2024▲ +65%
Tap a bar for its year
Net assets by fiscal year
FY2020$140K
FY2021$969K
FY2022$1.7M
FY2023$2.7M
FY2024$4.5M
FY2025$5.8M

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

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2019.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $870K Management & general 22% · $261K Fundraising 6% · $78K

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

10 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$100,000Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Megan Howell’s $131K as Executive Di is at the 60th percentile of top reported officer pay among 2036 $1–10M housing 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Megan Howell$131,310$100,000$70,106$65,018$75,107$40,985
Barbara Raskowski—————$9,244
Adam Rudolph—————$6,190
Maya Mitchell—————$5,405

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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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
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Provides housing and support services to help homeless and mentally ill individuals regain independence and improve their lives.

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Provided by the organization

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1 program · $870K · in their own filed words · FY2024
01

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.

$870Kprogram 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 · FY2024
See all 27 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.0M
Ln 12
Gifts and grantsLn 1h$2.4M
Fees for servicesLn 2g$484K
Other incomeLn 4–11$68K
Money outPt IX
$1.2M
Ln 25
Programscol B$870K
Managementcol C$261K
Fundraisingcol D$78K
Owns and owesPt X
$4.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$4.8M
LiabilitiesLn 26$324K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Fees for servicesLn 2g$484K
Investment incomeLn 3$30K
Other incomeLn 4–11$68K
Total revenueLn 12$3.0M
Assets in detailPt X, end of year
CashLn 1$239K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.5M
InvestmentsLn 11–13$5K
Land, buildings, equipmentLn 10c$3.2M
Other assetsLn 15$87K
Total assetsLn 16$4.8M
LiabilitiesLn 26$324K
Net assetsLn 32$4.5M
OperationsPt I, VI
EmployeesI 516
VolunteersI 6146
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 FY24End FY24
Cash and savingsLn 1–2$229K$1.5M
InvestmentsLn 11–13$5K
Land, buildings, equipmentLn 10c$2.8M$3.2M
Total assetsLn 16$3.2M$4.8M
LiabilitiesLn 26$476K$324K
Net assetsLn 32$2.7M$4.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$100K$60K$30K$10K
Other salaries and wagesLn 7$404K$242K$121K$40K
Other employee benefitsLn 9$69K$42K$21K$7K
Payroll taxesLn 10$40K$24K$12K$4K
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$26K$9K$15K$2K
Advertising and promotionLn 12$10K$8K$2K
OccupancyLn 16$30K$27K$3K
TravelLn 17$22K$22K
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$2K$1K$153
Depreciation, depletion and amortizationLn 22$85K$76K$8K
InsuranceLn 23$46K$42K$5K
Other expenses (24a–d)Ln 24$299K$294K$2K$2K
All other expensesLn 24e$53K$30K$12K$11K
Total functional expensesLn 25$1.2M$870K$261K$78K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.0M$1.7M$1.3M$5.8M 990 PDF
FY2024 Viewing $3.0M$1.2M$1.8M$4.5M 990 PDF
FY2023 $1.9M$864K$1.0M$2.7M 990 PDF
FY2022 $1.3M$619K$702K$1.7M 990 PDF
FY2021 $1.2M$333K$826K$969K 990 PDF
FY2020 $316K$185K$131K$140K 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 $2,960,130 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,441,970$2,376,811
I-9 Program service revenuePrior year $377,870$484,429
I-10 Investment incomePrior year $15,287$30,479
I-11 Other revenuePrior year $57,958$68,411
I-12 Total revenuePrior year $1,893,085$2,960,130
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $418,300$612,721
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $445,629$596,702
I-18 Total expensesPrior year $863,929$1,209,423
I-19 Revenue less expensesPrior year $1,029,156$1,750,707
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
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-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,960,130 across 7 lines filed
VIII-1f All other contributions, gifts and grants$2,376,811
VIII-1h Total contributions, gifts and grants$2,376,811
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $484,429$484,429
VIII-3 Investment incomeRelated to mission $30,479$30,479
VIII-8 Net income from fundraising events$65,072
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,339$3,339
VIII-12 Total revenueRelated to mission $518,247$2,960,130
Part IX · Statement of functional expenses $1,209,423 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $60,000 · Management $30,000 · Fundraising $10,000$100,000
IX-7 Other salaries and wagesPrograms $242,182 · Management $121,091 · Fundraising $40,364$403,637
IX-9 Other employee benefitsPrograms $41,634 · Management $20,817 · Fundraising $6,939$69,390
IX-10 Payroll taxesPrograms $23,816 · Management $11,908 · Fundraising $3,970$39,694
IX-11c Accounting feesManagement $22,135$22,135
IX-11g Other fees for servicesPrograms $9,005 · Management $15,398 · Fundraising $1,924$26,327
IX-12 Advertising and promotionManagement $7,730 · Fundraising $1,932$9,662
IX-16 OccupancyPrograms $27,000 · Management $3,000$30,000
IX-17 TravelPrograms $21,870$21,870
IX-19 Conferences, conventions and meetingsManagement $1,214$1,214
IX-20 InterestPrograms $1,381 · Management $153$1,534
IX-22 Depreciation, depletion and amortizationPrograms $76,475 · Management $8,497$84,972
IX-23 InsurancePrograms $41,784 · Management $4,643$46,427
IX-24 Other expenses (24a–d)Programs $294,274 · Management $2,452 · Fundraising $2,452$299,178
IX-24e All other expensesPrograms $30,422 · Management $12,394 · Fundraising $10,567$53,383
IX-25 Total functional expensesPrograms $869,843 · Management $261,432 · Fundraising $78,148$1,209,423
Part X · Balance sheet $4,806,966 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $39,176$238,635
X-2 Savings and temporary cash investmentsStart of year $189,404$1,238,085
X-3 Pledges and grants receivableStart of year $22,251$1,020
X-4 Accounts receivableStart of year $2,957$13,231
X-9 Prepaid expenses and deferred chargesStart of year $14,571$26,361
X-10c Land, buildings and equipment, netStart of year $2,818,821$3,196,128
X-11 Publicly traded securities$5,009
X-14 Intangible assetsStart of year $4,085$1,021
X-15 Other assetsStart of year $105,365$87,476
X-16 Total assetsStart of year $3,196,630$4,806,966
X-17 Accounts payable and accrued expensesStart of year $20,236$29,300
X-24 Unsecured notes and loans payableStart of year $156,667$78,333
X-25 Other liabilitiesStart of year $97,054$66,429
X-26 Total liabilitiesStart of year $475,623$323,507
X-27 Net assets without donor restrictionsStart of year $2,651,882$4,158,159
X-28 Net assets with donor restrictionsStart of year $69,125$325,300
X-32 Total net assets or fund balancesStart of year $2,721,007$4,483,459
X-33 Total liabilities and net assetsStart of year $3,196,630$4,806,966
Part XI · Reconciliation of net assets $4,483,459 net assets at year end
XI-1 Total revenue$2,960,130
XI-2 Total expenses$1,209,423
XI-3 Revenue less expenses$1,750,707
XI-4 Net assets at start of year$2,721,007
XI-6 Donated services and use of facilities$91,575
XI-9 Other changes in net assets−$79,830
XI-10 Net assets at end of year$4,483,459

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

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