Civic Intelligence

Open Hearts Foundation

990 • Fiscal year 2014 • EIN 27-1215063

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 15, 2015

3380 Motor AvenueLos Angeles, CA 90034

(310) 841-5821

Siviq Scores

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

Liabilities / Assets

84th percentile

0.54x

Higher debt load relative to assets than 84% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

51st percentile

0.05x

Higher debt load relative to revenue than 51% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

13th percentile

-19%

Higher net margin than 13% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

93rd percentile

$135,342

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 43.9% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

$27,214

No earlier filing loaded for comparison.

Net Assets

$12,651

No earlier filing loaded for comparison.

Liabilities

$14,563

No earlier filing loaded for comparison.

Revenue

$308,024

No earlier filing loaded for comparison.

Expenses

$367,303

No earlier filing loaded for comparison.

Net Income

-$59,279

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2014: $27,214Liabilities 2014: $14,563Net Assets 2014: $12,6512014Assets 2015: $88,458Liabilities 2015: $86Net Assets 2015: $88,3722015Assets 2016: $189,739Liabilities 2016: $871Net Assets 2016: $188,8682016Assets 2017: $180,723Liabilities 2017: $0Net Assets 2017: $180,7232017Assets 2018: $365,028Liabilities 2018: $20,174Net Assets 2018: $344,8542018Assets 2019: $413,679Liabilities 2019: $19,163Net Assets 2019: $394,5162019Assets 2020: $381,443Liabilities 2020: $0Net Assets 2020: $381,4432020Assets 2021: $430,656Liabilities 2021: $0Net Assets 2021: $430,6562021Assets 2022: $471,991Liabilities 2022: $0Net Assets 2022: $471,9912022Assets 2023: $560,972Liabilities 2023: $0Net Assets 2023: $560,9722023Assets 2024: $670,208Liabilities 2024: $37,668Net Assets 2024: $632,5402024

Highlighted filing

2014

Assets$27,214
Liabilities$14,563
Net Assets$12,651

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: $308,024Expenses 2014: $367,303Net Income 2014: -$59,2792014Revenue 2015: $223,791Expenses 2015: $147,873Net Income 2015: $75,9182015Revenue 2016: $204,669Expenses 2016: $104,173Net Income 2016: $100,4962016Revenue 2017: $411,771Expenses 2017: $419,916Net Income 2017: -$8,1452017Revenue 2018: $533,803Expenses 2018: $369,672Net Income 2018: $164,1312018Revenue 2019: $458,493Expenses 2019: $394,625Net Income 2019: $63,8682019Revenue 2020: $530,248Expenses 2020: $543,321Net Income 2020: -$13,0732020Revenue 2021: $373,217Expenses 2021: $324,004Net Income 2021: $49,2132021Revenue 2022: $424,897Expenses 2022: $383,562Net Income 2022: $41,3352022Revenue 2023: $545,068Expenses 2023: $456,087Net Income 2023: $88,9812023Revenue 2024: $347,573Expenses 2024: $264,751Net Income 2024: $82,8222024

Highlighted filing

2014

Revenue$308,024
Expenses$367,303
Net Income-$59,279
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 15, 2015
Return Version
2014v5.0
Gross Receipts
$507,180
Mission and Program Overview

Mission

The open hearts foundation is a social impact accelerator that is committed to empowering emerging and growing nonprofit organizations, whose orgins and mission are consistent with the precepts of the open hearts philosophy. The foundation, by providing expertise, resources and tools, enables these nonprofits to not only raise their profile but also further their mission and objectives.

To share the open hearts philosophy of transforming personal adversity into an opporunity to serve others.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$76,833$27,214▼ $49,619
Prepaid Expenses and Deferred Charges$1,259$0▼ $1,259
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$78,092$27,214▼ $50,878
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$5,159$10,000▲ $4,841
Other Liabilities$1,003$4,563▲ $3,560
Total Liabilities$6,162$14,563▲ $8,401
Net Assets / Fund Balance
Unrestricted Net Assets$71,930$12,651▼ $59,279
Total Net Assets Fund Balance$71,930$12,651▼ $59,279
Total Liabilities and Net Assets / Fund Balance$78,092$27,214▼ $50,878
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy TaylorExecutive DirectorFT$131,250$4,092$135,342

Board Members and Trustees

NameTitle
James KeachPresident & CEO
Jane SeymourVice President
Andrew BentonBoard Director
George JonesBoard Director
Richard GoldBoard Director
Robert TrabuccoBoard Director
James PalmerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$507,180
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-199,156
All Other Contributions
$205,339
Change in Net Assets
$-59,279
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$164,662
Grants and Similar Amounts Paid$126,500
Total Fundraising Expense$87,683
Other Expenses$76,141
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$26,250$52,500$52,500$131,250
Grants to Domestic Orgs$126,500--$126,500
Fees for Services Accounting-$28,325-$28,325
Fees for Services Legal-$19,726-$19,726
Other Salaries and Wages$617$11,148$6,939$18,704
Office Expenses-$4,086$12,213$16,299
Payroll Taxes$1,902$4,506$4,208$10,616
Insurance--$10,161$10,161
Other Employee Benefits$733$1,737$1,622$4,092
Fees for Services Other-$983-$983
Travel-$372-$372
Conferences and Meetings-$175-$175
Other Expenses-$9$40$9
All Other Expenses-$-144-$-144
Total Functional Expenses$156,002$123,618$87,683$367,303
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Strong Women Strong GirlsPittsburgh, PA501(c)(3)General Operating Support$31,500
Childrens Hospital of LaLos Angeles, CA501(c)(3)General Operating Support$25,000
Mollys Fund Fighting LupusClackamas, OR501(c)(3)General Operating Support$20,000
Alzheimers AssociationChicago, IL501(c)(3)General Operating Support$10,000
Gabriella FoundationLos Angeles, CA501(c)(3)General Operating Support$10,000
Kind CampaignSanta Monica, CA501(c)(3)General Operating Support$10,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$199,156
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$301,841-$38,971-
Total Events$301,841-$199,156$-199,156
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$4,563
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

James keach and jane seymour have a family relationship.

Form 990, Part VI, Line 11B: Form 990 Review Process

The return was prepared by an outside cpa and provided for review to the board treasurer and to staff before filing.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Documents provided upon request.

Filing and Contact Details

Filer

Filer Name
Open Hearts Foundation
EIN
27-1215063
Phone
3108415821
Address
3380 MOTOR AVENUE, LOS ANGELES, CA 90034

Signing Officer

Name
James Palmer
Title
Secretary
Signed
2015-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Keach
Formed
2010
Voting Board Members
7
Independent Board Members
5
Employees
1

Preparer

Firm
Armanino Llp
Address
11766 WILSHIRE BLVD NINTH FL, LOS ANGELES, CA 90025
Preparer
Renee Ordeneaux
Phone
3104784148
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2GENERAL OPERATING SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3GENERAL OPERATING SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4GENERAL OPERATING SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5GENERAL OPERATING SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ALZHEIMERS ASSOCIATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CHILDRENS HOSPITAL OF LA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2GABRIELLA FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3KIND CAMPAIGN
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4MOLLYS FUND FIGHTING LUPUS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5STRONG WOMEN STRONG GIRLS
IRS990ScheduleI/RecipientTable/RecipientEIN0133039601
IRS990ScheduleI/RecipientTable/RecipientEIN1951690977

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