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Four Hearts Foundation

Tax-deductible

Portsmouth, RI501(c)(3)Since 2022Recreation & SportsEIN 88-1227879Revenue $46K in FY2025

On file with the IRS106 Carnegie Harbor Dr, 02871-1619 · Portsmouth, RITax-exempt since Apr 2022Publicly supported charity — 170(b)(1)(A)(vi)

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To rebuild the Portsmouth Community Playground to be bigger, better, safer, inclusive and adaptivefor all ages and all abilities.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 26 volunteers.
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
1 of 4
filings with a surplus
Average surplus $23K a year · 10% of revenue · last 4 filings
Worth a look: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 20.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $22K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$46K
-70% vs prior year
Spent
$54K
To programs
100%
Net assets
$91K
By yearFY2022–FY2025
Revenue
$46K
FY2025▼ -70%
Tap a bar for its year
Revenue by fiscal year
FY2022$281K
FY2023$443K
FY2024$153K
FY2025$46K
Expenses
$54K
FY2025▼ -78%
Tap a bar for its year
Expenses by fiscal year
FY2022$800
FY2023$532K
FY2024$245K
FY2025$54K
Net assets
$91K
FY2025▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2022$280K
FY2023$190K
FY2024$98K
FY2025$91K

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2022.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $53K Management & general 0% · $203

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ashley Murphy
Board Member
$0Pt VII · Sec A
Kelsea Godek
Vice President
$0Pt VII · Sec A
Ryan Yalanis
Treasurer
$0Pt VII · Sec A
Molly Kellogg
Secretary
$0Pt VII · Sec A
See Four Hearts Foundation 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

Rebuilding a community playground to be bigger, better, safer, and inclusive for all.

Questions for Four Hearts Foundation

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Provided by the organization

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1 program · $53K · in their own filed words · FY2025
01

Successfully raised funds to build and furnish a public playground for all children regardless of disabilities to play safely.

$53Kprogram 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
Fidelity Investments Charitable Gift FundFY2024$16K
Paypal Charitable Giving FundFY2024$6K
Total grants receivedfrom 2 funders$22K
Grants paid · 2 grants · $30K · 2025–2025
Unitemized GrantFY2025$17,000
Newport Children's TheatreRI · FY2025$13,000

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$46K
Ln 12
Other incomeLn 4–11$34K
Gifts and grantsLn 1h$12K
Money outPt IX
$54K
Ln 25
Programscol B$53K
Managementcol C$203
Owns and owesPt X
$91K
net assets · Ln 32
Cash and savingsLn 1–2$91K
Total assetsLn 16$91K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12K
Other incomeLn 4–11$34K
Total revenueLn 12$46K
Assets in detailPt X, end of year
CashLn 1$91K
Cash and savings togetherLn 1–2$91K
Total assetsLn 16$91K
LiabilitiesLn 26$0
Net assetsLn 32$91K
OperationsPt I, VI
EmployeesI 50
VolunteersI 626
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$98K$91K
Total assetsLn 16$98K$91K
LiabilitiesLn 26$0$0
Net assetsLn 32$98K$91K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$31K$31K
Office expensesLn 13$203$0$203$0
Other expenses (24a–d)Ln 24$22K$22K$0$0
Total functional expensesLn 25$54K$53K$203$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $46K$54K−$7K$91K 990 PDF
FY2024 $153K$245K−$92K$98K 990 PDF
FY2023 $443K$532K−$89K$190K 990 PDF
FY2022 $281K$800$280K$280K 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 $46,486 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $88,112$12,126
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $64,851$34,360
I-12 Total revenuePrior year $152,963$46,486
I-13 Grants and similar amounts paidPrior year $245,175$31,099
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$22,544
I-18 Total expensesPrior year $245,175$53,643
I-19 Revenue less expensesPrior year −$92,212−$7,157
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $46,486 across 4 lines filed
VIII-1f All other contributions, gifts and grants$12,126
VIII-1h Total contributions, gifts and grants$12,126
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $34,360$34,360
VIII-12 Total revenueUnrelated business $0 · Excluded from tax $34,360$46,486
Part IX · Statement of functional expenses $53,643 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $31,099$31,099
IX-13 Office expensesPrograms $0 · Management $203 · Fundraising $0$203
IX-24 Other expenses (24a–d)Programs $22,341 · Management $0 · Fundraising $0$22,341
IX-25 Total functional expensesPrograms $53,440 · Management $203 · Fundraising $0$53,643
Part X · Balance sheet $90,889 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $98,046$90,889
X-16 Total assetsStart of year $98,046$90,889
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $98,046$90,889
X-32 Total net assets or fund balancesStart of year $98,046$90,889
X-33 Total liabilities and net assetsStart of year $98,046$90,889
Part XI · Reconciliation of net assets $90,889 net assets at year end
XI-1 Total revenue$46,486
XI-2 Total expenses$53,643
XI-3 Revenue less expenses−$7,157
XI-4 Net assets at start of year$98,046
XI-10 Net assets at end of year$90,889

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

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