Civic Intelligence

Open Heart Magic

990 • Fiscal year 2021 • EIN 27-0095889

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 22, 2022

67 E Madison St 1504Chicago, IL 60603

(312) 624-8079

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

65th percentile

0.10x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

67th percentile

0.13x

Higher debt load relative to revenue than 67% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

70th percentile

26%

Higher net margin than 70% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

87th percentile

$96,000

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 13.7% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

55th percentile

13%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

74th percentile

49%

Faster revenue growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$917,738

Up $102,384 (+13%) from 2020

Net Assets

Up

$827,682

Up $184,692 (+29%) from 2020

Liabilities

Down

$90,056

Down $82,308 (-48%) from 2020

Revenue

Up

$701,813

Up $231,606 (+49%) from 2020

Expenses

Up

$517,121

Up $13,539 (+2.7%) from 2020

Net Income

Up

$184,692

Up $218,067 (+653%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $91,685Liabilities 2011: $3,106Net Assets 2011: $88,5792011Assets 2012: $172,564Liabilities 2012: $413Net Assets 2012: $172,1512012Assets 2014: $374,392Liabilities 2014: $22,128Net Assets 2014: $352,2642014Assets 2015: $407,487Liabilities 2015: $24,031Net Assets 2015: $383,4562015Assets 2016: $411,788Liabilities 2016: $15,150Net Assets 2016: $396,6382016Assets 2017: $536,914Liabilities 2017: $43,326Net Assets 2017: $493,5882017Assets 2018: $693,632Liabilities 2018: $60,571Net Assets 2018: $633,0612018Assets 2019: $794,246Liabilities 2019: $117,881Net Assets 2019: $676,3652019Assets 2020: $815,354Liabilities 2020: $172,364Net Assets 2020: $642,9902020Assets 2021: $917,738Liabilities 2021: $90,056Net Assets 2021: $827,6822021Assets 2022: $1,299,686Liabilities 2022: $390,838Net Assets 2022: $908,8482022Assets 2023: $1,286,274Liabilities 2023: $367,302Net Assets 2023: $918,9722023Assets 2024: $1,273,937Liabilities 2024: $299,224Net Assets 2024: $974,7132024

Highlighted filing

2021

Assets$917,738
Liabilities$90,056
Net Assets$827,682

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $207,8762011Expenses 2012: $236,4912012Revenue 2014: $508,220Expenses 2014: $391,555Net Income 2014: $116,6652014Revenue 2015: $522,082Expenses 2015: $490,890Net Income 2015: $31,1922015Revenue 2016: $530,818Expenses 2016: $521,536Net Income 2016: $9,2822016Revenue 2017: $645,885Expenses 2017: $555,135Net Income 2017: $90,7502017Revenue 2018: $745,038Expenses 2018: $605,565Net Income 2018: $139,4732018Revenue 2019: $820,502Expenses 2019: $749,566Net Income 2019: $70,9362019Revenue 2020: $470,207Expenses 2020: $503,582Net Income 2020: -$33,3752020Revenue 2021: $701,813Expenses 2021: $517,121Net Income 2021: $184,6922021Revenue 2022: $888,400Expenses 2022: $807,234Net Income 2022: $81,1662022Revenue 2023: $874,846Expenses 2023: $864,722Net Income 2023: $10,1242023Revenue 2024: $973,631Expenses 2024: $917,890Net Income 2024: $55,7412024

Highlighted filing

2021

Revenue$701,813
Expenses$517,121
Net Income$184,692
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 22, 2022
Return Version
2021v4.2
Gross Receipts
$790,812
Mission and Program Overview

Mission

Our mission is to use the therapeutic power of magic and laughter to energize and strengthen seriously ill children in chicago area hospitals, and aid their healing. We strive to reach young patients one-by-one regardless of their disease, medical situation or physical ability so that all children may benefit from this engaging and entertaining therapy.

To strengthen sick kids using the therapeutic power of magic.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$398,669$409,687▲ $11,018
Cash and Non-Interest-Bearing Accounts$310,855$385,478▲ $74,623
Prepaid Expenses and Deferred Charges$74,754$94,424▲ $19,670
Accounts Receivable-$17,061-
Pledges and Grants Receivable$8,900--
Total Assets$815,354$917,738▲ $102,384
Other Assets Total$22,176$11,088▼ $11,088
Liabilities
Unsecured Notes Loans Payable$72,017$0▼ $72,017
Accounts Payable and Accrued Expenses$38,726$48,207▲ $9,481
Deferred Revenue$43,333$26,498▼ $16,835
Other Liabilities$18,288$15,351▼ $2,937
Total Liabilities$172,364$90,056▼ $82,308
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$642,990$827,682▲ $184,692
Total Net Assets Fund Balance$642,990$827,682▲ $184,692
Total Liabilities and Net Assets / Fund Balance$815,354$917,738▲ $102,384
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael WaltonFounder & Executive DirectorFT$96,000$96,000

Board Members and Trustees

NameTitle
Sean MccarthyChairman of the Board
Ankit AgrawalDirector
Christine Gravel-lippoldtDirector
Dan WilliamsDirector
Hilary Goldin- ParkerDirector
Jake HagelowDirector
Katie SniderDirector
Leslie MalysiakDirector
Mark PasseriniDirector
Maureen LesakDirector
Michael HoehneDirector
Nader SalahDirector
Randy ScheunemanDirector
Renee GrimmDirector
Ryan WalshDirector
Sanjay PatelDirector
Scott SmithDirector
Sue WaltonDirector
Ted LimjocoDirector
Tim ShanleyDirector
Jaques LaherreDirector (thru 4/21)
Ted EischeidDirector (thru 5/21)
Joanne Hickman-doddDirector (thru 6/21)
Katy LeoniSecretary
Andrew DenenbergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$704,120
Program Service Revenue
$47,394
Investment Income
$168
Other Revenue
$-49,869
All Other Contributions
$401,443
Change in Net Assets
$184,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$701,813
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$18,003
Total Revenue per Audited Statements
$719,816
Total Revenue per Form 990
$701,813
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$306,157
Other Expenses$210,964
Total Fundraising Expense$45,208
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$119,566$25,757$13,318$158,641
Current Officers, Directors, Trustees, and Key Employees$81,600$4,800$9,600$96,000
Occupancy$56,362$5,243$3,932$65,537
Office Expenses$17,105$808$13,666$31,579
Other Employee Benefits$24,395$3,706$2,779$30,880
Fees for Services Accounting-$21,710-$21,710
Payroll Taxes$16,303$2,476$1,857$20,636
Other Expenses$8,453$2,242-$10,695
Information Technology$4,978$3,368-$8,346
Travel$8,079--$8,079
Insurance$3,010$42$56$3,108
Fees for Services Other-$1,480-$1,480
Fees for Services Legal-$828-$828
Total Functional Expenses$388,387$83,526$45,208$517,121

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$535,124
Expenses per Audited Statements$517,121
Total Expenses per Form 990$517,121
Expenses Not Reported on Form 990$18,003
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$83,684
Fundraising Gross Income$27,300
Gaming Gross Income$11,830
Gaming Direct Expenses$5,315
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Black Tie$171,151$27,300$14,115$13,185
Benefit Transformed$13,810-$1,393-
Total Events$184,961$27,300$83,684$-56,384
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$15,351
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Sue walton and michael walton - family relationship

Form 990, Part VI, Section A, Line 8B

The executive committees do not have the authority to act on behalf of the governing board. Information discussed at the executive meetings is presented to the board of directors and approval is obtained if needed.

Form 990, Part VI, Section B, Line 11B

The treasurer and financial chairperson review the form 990 in detail prior to its filing with the internal revenue service and provide a detail review of the form 990 to remaining directors after filing with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

All directors, officers and employees shall disclose all real and apparent conflicts which they discover or which have been brought to their attention in connection with the corporation's activities. When an individual director, officer or employee believes that he or she or a member of his or her immediate family might have or does have a potential or real conflict, he or she shall (i) disclose such potential or real conflict to the board of directors, and (ii) abstain from making motions, voting, executing agreements, or taking any other similar direct action on behalf of the corporation where the conflict might pertain, but shall not be precluded from debate or other similar involvement on behalf of the corporation. The board of directors of the corporation at any time may establish further guidelines consistent with the interests of the corporation for the resolution of any real or apparent conflicts.

Form 990, Part VI, Section B, Line 15A

Compensation is determined by the board of directors and reviewed annually.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available upon request as deemed appropriate by the board of directors and management.

Filing and Contact Details

Filer

Filer Name
Open Heart Magic
EIN
27-0095889
Phone
3126248079
Address
67 E MADISON ST 1504, CHICAGO, IL 60603

Signing Officer

Name
Michael Walton
Title
Executive Director
Phone
3126248079
Signed
2022-08-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Walton
Formed
2004
Legal Domicile
Il
Voting Board Members
22
Independent Board Members
21
Employees
6
Volunteers
55

Preparer

Firm
Wipfli Llp
Address
100 TRI-STATE INTERNATIONAL STE 300, LINCOLNSHIRE, IL 60069
Preparer
Marlene Domash
Phone
8479410100
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

There were no changes to the audit selection process from the prior year.

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IRS990/ActivityOrMissionDesc0TO STRENGTHEN SICK KIDS USING THE THERAPEUTIC POWER OF MAGIC.
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IRS990/Desc0OPEN HEART MAGIC'S LONG STANDING PROGRAM PROVIDES THERAPEUTIC MAGIC, ONE-ON-ONE, AT A PATIENT'S BEDSIDE TO BRING LAUGHTER AND STRENGTH TO SICK KIDS FACING SERIOUS MEDICAL CONDITIONS. OUR HOSPITAL MAGICIANS WORK WITH YOUNG PATIENTS, USING MAGIC AS A MEANS TO ENCOURAGE PARTICIPATION, ENGAGE THE IMAGINATION, AND HELP THESE KIDS FIND THEIR OWN SENSE OF CONFIDENCE AND MASTERY AS THEY LEARN TO PERFORM TRICKS FOR THEIR DOCTORS, FAMILY, AND FRIENDS. BECAUSE OUR BEDSIDE MAGIC PERFORMANCES ARE PERSONALIZED AND INTERACTIVE, WE'RE ABLE TO WORK WITH KIDS OF ALL AGES, REGARDLES OF PHYSICAL OR DEVELOPMENTAL RESTRICTIONS. WE OFFER SUPPORT TO KIDS WHO ARE IN A ONE-TIME ER VISIT, AS WELL AS PATIENTS UNDERGOING LONG-TERM TREATMENT FOR CONDITIONS SUCH AS PEDICATRIC CANCER, CHILDHOOD DIABETES, HEART PROBLEMS, AND MORE. DISEASE DOES NOT DISCRIMINATE. IT CAN IMPACT ANY KID. MANY OF THE PEDIATRIC POPULATIONS WE REACH ARE IN UNDERSERVED AND ECONOMICALLY DISADVANTAGED AREAS. UNFORTUNATELY THIS POPULATION MORE EASILY FINDS THEMSELVES FINANCIALLY UNABLE TO MAKE REGULAR DOCTOR VISITS AND END UP IN MORE SERIOUS IN-PATIENT SITUATIONS. THESE SICK KIDS ARE OFTEN FOUND ALONE BECAUSE PARENTS LACK WORK FLEXIBILITY AND SECURITY TO STAY AT THE HOSPITAL WITH THEIR CHILD. WE BELIEVE LAUGHTER IS THE BEST MEDICINE FOR A CHILD, AND THANKS TO OUR UNIQUE PROGRAMMING, SCARY AND ISOLATE HOSPITALS ROOMS ARE TRANSFORMED AND FILLED WITH LAUGHTER AND JOY. HOSPITAL MAGICIAN VOLUNTEERS OFTEN HEAR PARENTS SAY, "THIS IS THE FIRST TIME MY CHILD HAS LAUGHED SINCE WE'VE BEEN IN THE HOSPITAL- THANK YOU! WHEN PROGRAMS WERE SUSPENDED IN 2020 DUE TO COVID-19, OPEN HEART MAGIC WORKED TO FIND A WAY TO CONTINUE PROVIDING JOY AND HEALING DURING THE PANDEMIC. IN 2021, WE DEVELOPED A HIGH-VALUED TOOL FOR HOSPITAL STAFF TO HELP ISOLATED KIDS. WE PARTNERED WITH LEGO AND AN AWARD-WINNING FAMILY GAME, WHILE CREATING OUR OWN ULTIMATE MAGIC KIT OFFERING VIRTUAL MAGIC INSTRUCTION. THESE ITEMS ARE PACKAGED TOGETHER IN A FUN, PROFESSIONAL WAY TO MAKE UP A MAGIC DELIVERY. THE BOX GETS DELIVERED BEDSIDE TO SUPPORT LAUGHTER, CREATIVITY, AND FUN DURING A STRESSFUL TIME. YOUNG PATIENTS RECEIVE THIS PERSONAL PACKAGE DIRECTLY AT THEIR BEDSIDE AND IS MEANT TO REACH CHILDREN IN HARDER TO SERVE UNITS SUCH AS EMERGENCY ROOMS, BURN UNITS, ONCOLOGY FLOORS, AND MORE. BECAUSE OF THE PANDEMIC, MANY CHILDREN WERE IN ISOLATION, UNABLE TO SEE VISITORS AND SOMETIMES EVEN THEIR FAMILY MEMBERS. THIS PANDEMIC ALLOWED US TO COMMIT TO OUR LONG-TERM, DREAM PROJECT: MAGIC DELIVERY. YEARS AGO, LURIE CHILDREN'S HOSPITAL CHALLENGED US TO CREATE A SPECIAL EXPERIENCE THAT -IN AN EMERGENCY -COULD HELP KIDS. WITH THE HELP OF OUR PARTNER HOSPITALS WE WERE ABLE TO MAKE THIS DREAM COME TRUE. IN 2021, 304 MAGIC DELIVERY BOXES WENT TO 7 HOSPITALS WITH MORE SHIPPING IN 2022.
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IRS990/Form990PartVIISectionAGrp/PersonNm8NADER SALAH
IRS990/Form990PartVIISectionAGrp/PersonNm9RANDY SCHEUNEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm10SCOTT SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm11KATIE SNIDER
IRS990/Form990PartVIISectionAGrp/PersonNm12RYAN WALSH
IRS990/Form990PartVIISectionAGrp/PersonNm13SUE WALTON
IRS990/Form990PartVIISectionAGrp/PersonNm14DAN WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm15JAKE HAGELOW
IRS990/Form990PartVIISectionAGrp/PersonNm16TIM SHANLEY
IRS990/Form990PartVIISectionAGrp/PersonNm17ANKIT AGRAWAL
IRS990/Form990PartVIISectionAGrp/PersonNm18MARK PASSERINI
IRS990/Form990PartVIISectionAGrp/PersonNm19JOANNE HICKMAN-DODD
IRS990/Form990PartVIISectionAGrp/PersonNm20TED EISCHEID
IRS990/Form990PartVIISectionAGrp/PersonNm21JAQUES LAHERRE
IRS990/Form990PartVIISectionAGrp/PersonNm22SEAN MCCARTHY
IRS990/Form990PartVIISectionAGrp/PersonNm23ANDREW DENENBERG
IRS990/Form990PartVIISectionAGrp/PersonNm24KATY LEONI
IRS990/Form990PartVIISectionAGrp/PersonNm25MICHAEL WALTON
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IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR (THRU 6/21)
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR (THRU 5/21)
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR (THRU 4/21)
IRS990/Form990PartVIISectionAGrp/TitleTxt22CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt23TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt24SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt25FOUNDER & EXECUTIVE DIRECTOR
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IRS990/FormationYr02004
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IRS990/MissionDesc0THE MISSION OF OPEN HEART MAGIC IS TO USE THE THERAPEUTIC POWER OF MAGIC AND LAUGHTER TO ENERGIZE AND STRENGTHEN SERIOUSLY ILL CHILDREN IN CHICAGO, ANN ARBOR AND CLEVELAND AREA HOSPITALS, AND AID THEIR HEALING. BEING HOSPITALIZED CAN BE FRIGHTENING FOR ANYONE, BUT ESPECIALLY FOR A CRITICALLY ILL CHILD. AS KIDS UNDERGO DIFFICULT OR PAINFUL TREATMENTS - SURROUNDED BY STRANGERS - THEY CAN BECOME OVERWHELMED WITH FEAR AND SADNESS.OUR BEDSIDE MAGIC AND MAGIC DELIVERY PROGRAMS BRING LAUGHTER, HOPE AND STRENGTH TO SICK CHILDREN - ONE-TO-ONE - AT THEIR HOSPITAL BEDSIDES. OUR VOLUNTEER HOSPITAL MAGICIANS ARE TRAINED TO WORK WITH ALL KIDS IN A HOSPITAL - REGARDLESS OF MEDICAL CONDITIONS OR PHYSICAL ABILITIES - SO THAT EVERY CHILD CAN BENEFIT FROM THIS ENTERTAINING AND EMPOWERING THERAPY.
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