Civic Intelligence

Open Hearts Foundation

990 • Fiscal year 2016 • EIN 27-1215063

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

Organization ProfileN/A
23838 Pacific Coast Highway 2782Malibu, CA 90265

(310) 841-5821

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

Higher debt load relative to assets than 59% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

59th percentile

0.00x

Higher debt load relative to revenue than 59% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

92nd percentile

49%

Higher net margin than 92% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

92nd percentile

114%

Faster asset growth than 92% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

36th percentile

-8.5%

Faster revenue growth than 36% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$189,739

Up $101,281 (+114%) from 2015

Net Assets

Up

$188,868

Up $100,496 (+114%) from 2015

Liabilities

Up

$871

Up $785 (+913%) from 2015

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin92nd percentile

Revenue

Down

$204,669

Down $19,122 (-8.5%) from 2015

Expenses

Down

$104,173

Down $43,700 (-30%) from 2015

Net Income

Up

$100,496

Up $24,578 (+32%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

2016

Assets$189,739
Liabilities$871
Net Assets$188,868
Open 2016 Filing

Operations Trend

Revenue Growth36th percentile

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

2016

Revenue$204,669
Expenses$104,173
Net Income$100,496
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$204,669
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 opportunity to serve others.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$88,458$189,739▲ $101,281
Total Assets$88,458$189,739▲ $101,281
Liabilities
Accounts Payable and Accrued Expenses$86$871▲ $785
Total Liabilities$86$871▲ $785
Net Assets / Fund Balance
Unrestricted Net Assets$88,372$188,868▲ $100,496
Total Net Assets Fund Balance$88,372$188,868▲ $100,496
Total Liabilities and Net Assets / Fund Balance$88,458$189,739▲ $101,281
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
James KeachPresident
Jane SeymourVice President
Eric McintyreDirector
Richard GoldDirector
Robert TrabuccoDirector
James PalmerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$204,638
Program Service Revenue
$0
Investment Income
$31
Other Revenue
$0
All Other Contributions
$204,638
Change in Net Assets
$100,496
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$70,109
Salaries, Compensation, and Employee Benefits$34,064
Total Fundraising Expense$8,395
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,562$24,992$4,686$31,240
Fees for Services Management-$26,797-$26,797
Fees for Services Legal-$14,685-$14,685
Fees for Services Accounting-$13,587-$13,587
Insurance$314$5,026$942$6,282
Payroll Taxes$141$2,259$424$2,824
Information Technology--$2,343$2,343
Office Expenses-$1,863-$1,863
Other Expenses-$1,574-$1,574
Travel-$96-$96
Total Functional Expenses$2,017$93,761$8,395$104,173
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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, Section B, line 11B

“The return was prepared by an outside cpa and provided for review to the board treasurer and executive director before filings.”

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

“The organization uses its outside counsel to advise on transactions involving board members or companies with which they are involved. In addition, two independent directors review any potential conflicts.”

Form 990, Part VI, Section C, line 19

“Documents provided upon request.”

Filing and Contact Details

Filer

Filer Name
Open Hearts Foundation
EIN
27-1215063
Phone
3108415821
Address
23838 PACIFIC COAST HIGHWAY 2782, MALIBU, CA 90265

Signing Officer

Name
Jim Palmer
Title
Secretary
Phone
3108415821
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Keach
Formed
2010
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
5
Employees
1
Volunteers
7

Preparer

Firm
Armanino LLP
Address
11766 Wilshire Blvd 9th Floor, Los Angeles, CA 90025
Preparer
Renee Ordeneaux
Phone
3104784148
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 3

“Open hearts foundation continues to seek funding sources with lower costs in order to increase the amount of funds available for grant-making purposes. Toward this end, in the fall of 2016 the foundation engaged a consulting firm to assist the foundation in the areas of executive and board member recruitment and the formulation of additional fund raising strategies. In addition, the foundation is revamping its website to further the awareness of the foundation's mission.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OPEN HEARTS FOUNDATION CONTINUES TO SEEK FUNDING SOURCES WITH LOWER COSTS IN ORDER TO INCREASE THE AMOUNT OF FUNDS AVAILABLE FOR GRANT-MAKING PURPOSES. TOWARD THIS END, IN THE FALL OF 2016 THE FOUNDATION ENGAGED A CONSULTING FIRM TO ASSIST THE FOUNDATION IN THE AREAS OF EXECUTIVE AND BOARD MEMBER RECRUITMENT AND THE FORMULATION OF ADDITIONAL FUND RAISING STRATEGIES. IN ADDITION, THE FOUNDATION IS REVAMPING ITS WEBSITE TO FURTHER THE AWARENESS OF THE FOUNDATION'S MISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN WAS PREPARED BY AN OUTSIDE CPA AND PROVIDED FOR REVIEW TO THE BOARD TREASURER AND EXECUTIVE DIRECTOR BEFORE FILINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION USES ITS OUTSIDE COUNSEL TO ADVISE ON TRANSACTIONS INVOLVING BOARD MEMBERS OR COMPANIES WITH WHICH THEY ARE INVOLVED. IN ADDITION, TWO INDEPENDENT DIRECTORS REVIEW ANY POTENTIAL CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
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IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt088458
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0189739
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt096
IRS990/TravelGrp/TotalAmt096
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt088372
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0188868
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MALIBU
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090265
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM PALMER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03108415821
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Open Hearts Foundation
ReturnHeader/Filer/BusinessNameControlTxt0OPEN
ReturnHeader/Filer/EIN0271215063
ReturnHeader/Filer/PhoneNum03108415821
ReturnHeader/Filer/USAddress/AddressLine1Txt023838 PACIFIC COAST HIGHWAY 2782
ReturnHeader/Filer/USAddress/CityNm0MALIBU
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0590B85B05D8E4E663A50E8515795E225FDBA2BFD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.201.92.30
ReturnHeader/FilingSecurityInformation/IPDt02017-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm013:54:05
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0946214841
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Armanino LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011766 Wilshire Blvd 9th Floor
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Los Angeles
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090025
ReturnHeader/PreparerPersonGrp/PhoneNum03104784148
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Renee Ordeneaux
ReturnHeader/ReturnTs02017-11-15T16:13:37-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$189,739
Liabilities
$871
Net assets
$188,868
Revenue
$204,669
Expenses
$104,173
Net income
$100,496
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.70$0.38$6.33$3.48$2.65$0.83
2023Detailed filing. Detailed filing data is available for this year.$5.61$0.00$5.61$5.45$4.56$0.89
2022Detailed filing. Detailed filing data is available for this year.$4.72$0.00$4.72$4.25$3.84$0.41
2021Detailed filing. Detailed filing data is available for this year.$4.31$0.00$4.31$3.73$3.24$0.49
2020Detailed filing. Detailed filing data is available for this year.$3.81$0.00$3.81$5.30$5.43$0.13
2019Detailed filing. Detailed filing data is available for this year.$4.14$0.19$3.95$4.58$3.95$0.64
2018Detailed filing. Detailed filing data is available for this year.$3.65$0.20$3.45$5.34$3.70$1.64
2017Detailed filing. Detailed filing data is available for this year.$1.81$0.00$1.81$4.12$4.20$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.90$0.01$1.89$2.05$1.04$1.00
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$2.24$1.48$0.76
2014Detailed filing. Detailed filing data is available for this year.$0.27$0.15$0.13$3.08$3.67$0.59