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Heart-Sv

Tax-deductible

San Mateo, CA501(c)(3)Since 2023Community Development EIN 93-1656528Revenue $393K in FY2025Latest return filed May 14, 2026

On file with the IRSheartofsmc.orgSan Mateo, CATax-exempt since Jul 2025Publicly supported — 509(a)(2)

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Heart-sv's mission is to acquire, finance, operate, and sustain workforce and other public benefit housing programs that expand access to stable, affordable homes for low- to moderate-income and essential workers in the region.

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 93-1656528) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Spent on programs
91%
of spending
91% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
16.5 mo
of spending, in cash
16.5 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.8M
106% of total assets
Liabilities are 106% of assets.
Pt X · Ln 26
Independent board members
20
of 20 voting members
20 of 20 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$393K
Spent
$604K
To programs
91%
Net assets
−$210K

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Follow Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2025.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $548K Management & general 9% · $56K

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

21 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Diane Howard
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Dave Hopkins
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Bart Pantoja
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Heart-Sv executive salaries →

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

Heart-Sv is a community improvement nonprofit based in San Mateo, CA, formed in 2023.

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1 program · $548K · in their own filed words · FY2024
01

Heart-sv meets critical housing needs in san mateo county and the bay area region by providing affordable housing for low to moderate income residents and essential workers. Heart-sv owns, creates and maintains real estate assets, including mult-family housing, for low to moderate income residents and essential workers.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 93-1656528) · Dispute this line
$548Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$393K
Ln 12
Fees for servicesLn 2g$380K
Investment incomeLn 3$13K
Other incomeLn 4–11$503
Money outPt IX
$604K
Ln 25
Programscol B$548K
Managementcol C$56K
Owns and owesPt X
−$210K
net assets · Ln 32
Cash and savingsLn 1–2$830K
Total assetsLn 16$3.6M
LiabilitiesLn 26$3.8M
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$380K
Investment incomeLn 3$13K
Other incomeLn 4–11$503
Total revenueLn 12$393K
Assets in detailPt X, end of year
CashLn 1$830K
Cash and savings togetherLn 1–2$830K
Land, buildings, equipmentLn 10c$2.8M
Total assetsLn 16$3.6M
LiabilitiesLn 26$3.8M
Net assetsLn 32−$210K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
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$830K
Land, buildings, equipmentLn 10c$2.8M
Total assetsLn 16$0$3.6M
LiabilitiesLn 26$0$3.8M
Net assetsLn 32$0−$210K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$9K$9K
Legal feesLn 11b$34K$34K
Accounting feesLn 11c$373$373
Other fees for servicesLn 11g$196K$179K$17K
OccupancyLn 16$23K$23K
TravelLn 17$68$68
InterestLn 20$143K$143K
Depreciation, depletion and amortizationLn 22$75K$75K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$119K$119K
All other expensesLn 24e$871$871
Total functional expensesLn 25$604K$548K$56K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS May 14, 2026 $393K$604K−$210K−$210K 990 PDF

Schedules filed Part IV

A · Public support D · Assets and endowments J · Pay O · Explanations R · Related orgs
See the full FY2025 990
Part I · Summary $393,453 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$380,306
I-10 Investment income$12,644
I-11 Other revenue$503
I-12 Total revenue$393,453
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$603,662
I-18 Total expenses$603,662
I-19 Revenue less expenses−$210,209
Part VI · Governance 20 of 20 board members independent, 3 to look at
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $393,453 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $380,306$380,306
VIII-3 Investment incomeExcluded from tax $12,644$12,644
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $503$503
VIII-12 Total revenueRelated to mission $380,809 · Excluded from tax $12,644$393,453
Part IX · Statement of functional expenses $603,662 across 11 lines filed
IX-11a Management feesPrograms $9,000$9,000
IX-11b Legal feesManagement $34,424$34,424
IX-11c Accounting feesManagement $373$373
IX-11g Other fees for servicesPrograms $179,063 · Management $16,900$195,963
IX-16 OccupancyPrograms $23,189$23,189
IX-17 TravelManagement $68$68
IX-20 InterestPrograms $142,709$142,709
IX-22 Depreciation, depletion and amortizationPrograms $74,645$74,645
IX-23 InsuranceManagement $3,075$3,075
IX-24 Other expenses (24a–d)Programs $119,345$119,345
IX-24e All other expensesManagement $871$871
IX-25 Total functional expensesPrograms $547,951 · Management $55,711 · Fundraising $0$603,662
Part X · Balance sheet $3,605,753 assets, 11 lines filed
X-1 Cash, non-interest-bearing$830,398
X-10c Land, buildings and equipment, net$2,775,355
X-16 Total assetsStart of year $0$3,605,753
X-17 Accounts payable and accrued expenses$45,410
X-23 Secured mortgages and notes payable$3,747,786
X-25 Other liabilities$22,766
X-26 Total liabilitiesStart of year $0$3,815,962
X-27 Net assets without donor restrictions−$338,743
X-28 Net assets with donor restrictions$128,534
X-32 Total net assets or fund balancesStart of year $0−$210,209
X-33 Total liabilities and net assetsStart of year $0$3,605,753
Part XI · Reconciliation of net assets −$210,209 net assets at year end
XI-1 Total revenue$393,453
XI-2 Total expenses$603,662
XI-3 Revenue less expenses−$210,209
XI-10 Net assets at end of year−$210,209

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

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