Civic Intelligence

Heartspring Inc.

990 • Fiscal year 2021 • EIN 48-0561969

Jul 01, 2020 to Jun 30, 2021 • Filed on May 15, 2022

8700 East 29th Street NorthWichita, KS 67226

(316) 634-8700

Siviq Scores

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

Liabilities / Assets

31st percentile

0.07x

Higher debt load relative to assets than 31% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

20th percentile

0.07x

Higher debt load relative to revenue than 20% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

34th percentile

5.1%

Higher net margin than 34% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

48th percentile

$235,836

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

12th percentile

-3.6%

Faster asset growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

51st percentile

13%

Faster revenue growth than 51% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Down

$32,760,069

Down $1,223,690 (-3.6%) from 2020

Net Assets

Up

$30,539,364

Up $2,133,304 (+7.5%) from 2020

Liabilities

Down

$2,220,705

Down $3,356,994 (-60%) from 2020

Revenue

Up

$29,928,293

Up $3,520,245 (+13%) from 2020

Expenses

Up

$28,408,650

Up $2,898,198 (+11%) from 2020

Net Income

Up

$1,519,643

Up $622,047 (+69%) from 2020

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $23,478,474Liabilities 2011: $922,895Net Assets 2011: $22,555,5792011Assets 2012: $24,050,835Liabilities 2012: $1,097,087Net Assets 2012: $22,953,7482012Assets 2013: $24,354,376Liabilities 2013: $997,034Net Assets 2013: $23,357,3422013Assets 2014: $24,579,870Liabilities 2014: $1,035,280Net Assets 2014: $23,544,5902014Assets 2015: $24,582,766Liabilities 2015: $1,247,696Net Assets 2015: $23,335,0702015Assets 2016: $24,011,965Liabilities 2016: $1,230,447Net Assets 2016: $22,781,5182016Assets 2017: $25,877,020Liabilities 2017: $1,767,036Net Assets 2017: $24,109,9842017Assets 2018: $27,332,122Liabilities 2018: $2,254,062Net Assets 2018: $25,078,0602018Assets 2019: $30,210,319Liabilities 2019: $2,390,207Net Assets 2019: $27,820,1122019Assets 2020: $33,983,759Liabilities 2020: $5,577,699Net Assets 2020: $28,406,0602020Assets 2021: $32,760,069Liabilities 2021: $2,220,705Net Assets 2021: $30,539,3642021Assets 2022: $29,501,507Liabilities 2022: $2,060,863Net Assets 2022: $27,440,6442022Assets 2023: $28,430,218Liabilities 2023: $1,910,866Net Assets 2023: $26,519,3522023Assets 2024: $28,617,037Liabilities 2024: $2,105,717Net Assets 2024: $26,511,3202024

Highlighted filing

2021

Assets$32,760,069
Liabilities$2,220,705
Net Assets$30,539,364

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $14,452,3222011Expenses 2012: $14,725,4212012Expenses 2013: $15,018,1862013Revenue 2014: $15,984,159Expenses 2014: $15,878,847Net Income 2014: $105,3122014Revenue 2015: $16,651,827Expenses 2015: $16,775,878Net Income 2015: -$124,0512015Revenue 2016: $18,796,428Expenses 2016: $18,713,182Net Income 2016: $83,2462016Revenue 2017: $21,431,662Expenses 2017: $19,700,245Net Income 2017: $1,731,4172017Revenue 2018: $23,512,914Expenses 2018: $22,152,259Net Income 2018: $1,360,6552018Revenue 2019: $26,680,941Expenses 2019: $23,671,996Net Income 2019: $3,008,9452019Revenue 2020: $26,408,048Expenses 2020: $25,510,452Net Income 2020: $897,5962020Revenue 2021: $29,928,293Expenses 2021: $28,408,650Net Income 2021: $1,519,6432021Revenue 2022: $26,601,555Expenses 2022: $28,503,978Net Income 2022: -$1,902,4232022Revenue 2023: $25,278,515Expenses 2023: $26,576,095Net Income 2023: -$1,297,5802023Revenue 2024: $26,099,109Expenses 2024: $26,726,751Net Income 2024: -$627,6422024

Highlighted filing

2021

Revenue$29,928,293
Expenses$28,408,650
Net Income$1,519,643
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 15, 2022
Return Version
2020v4.1
Gross Receipts
$30,062,026
Mission and Program Overview

Mission

To be a leader and innovator in providing clinically supported services through education and therapies for children with special needs to empower them to grow and learn on a path to a more independent life.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,075,952$15,511,994▼ $563,958
Savings and Temporary Cash Investments$893,256$5,006,006▲ $4,112,750
Investments in Publicly Traded Securities$5,427,871$4,669,462▼ $758,409
Cash and Non-Interest-Bearing Accounts$7,938,630$4,120,528▼ $3,818,102
Accounts Receivable$3,010,366$2,972,081▼ $38,285
Prepaid Expenses and Deferred Charges$323,075$355,687▲ $32,612
Pledges and Grants Receivable$198,620$59,121▼ $139,499
Inventories for Sale or Use$6,801$7,310▲ $509
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$33,983,759$32,760,069▼ $1,223,690
Other Assets Total$109,188$57,880▼ $51,308
Liabilities
Accounts Payable and Accrued Expenses$2,025,536$2,199,905▲ $174,369
Deferred Revenue$3,552,163$20,800▼ $3,531,363
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,577,699$2,220,705▼ $3,356,994
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$27,646,724$29,313,823▲ $1,667,099
Net Assets With Donor Restrictions$759,336$1,225,541▲ $466,205
Total Net Assets Fund Balance$28,406,060$30,539,364▲ $2,133,304
Total Liabilities and Net Assets / Fund Balance$33,983,759$32,760,069▼ $1,223,690

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,419,414$7,930,063$20,349,477
Equipment$501,107$1,812,869$2,313,976
Other Land Buildings$959,172$1,059,672$2,018,844
Land$1,629,819-$1,629,819
Leasehold Improvements$2,482$27,303$29,785

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$4,556,104-▲ $1,176,899-$5,530,816
2019$4,482,790-▲ $223,426-$4,556,104
2018$4,375,072-▲ $242,109-$4,482,790
2017$4,319,280-▲ $296,422-$4,375,072
2016$4,117,070-▲ $444,933-$4,319,280
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Julie NollerCOOFT$172,037$63,799$235,836
Karina Forrest PerkinsPresident/CEOFT$170,282$3,814$174,096
Carolyn WilhelmCFOFT$144,902$23,116$168,018
Stephen PerryDirector of Educational ServicFT$107,025$35,256$142,281
Megan SwettDiv. Director Heartspring SchoolFT$101,512$23,004$124,516
Melissa RileyChief People OfficerFT$112,979$1,200$114,179

Board Members and Trustees

NameTitle
Durrel KelleyChair/trustee
Mike FloresImmediate Past Chair/trustee
Stephanie FarleyVice Chair/trustee
Monte ShawSecretary/treasurer/trustee
Bob McfaddenTrustee
Bryan BlundellTrustee
Christopher ShankTrustee
Denise ButzTrustee
Jeremy MachainTrustee
John RoseboroughTrustee
Josh WeiserTrustee
Lora SmithTrustee
Scott GepnerTrustee
Todd MathenyTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Clean TechCleaning Services7453 WEST 33RD ST N, Wichita, KS 67205$132,654
Isg Technology INCTechnologyPO BOX 871854, Kansas City, MO 64187-1854$110,158
Uksm-medical Practice AssociationMedical Services1010 N KANSAS SUITE 3049, Wichita, KS 67214-3124$108,181
Revenue and Support

Revenue Composition

Contributions and Grants
$5,152,793
Program Service Revenue
$24,033,235
Investment Income
$668,365
Other Revenue
$73,900
All Other Contributions
$1,030,729
Change in Net Assets
$1,519,643

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,667,614
Revenue Not Reported on Financial Statements
$260,679
Revenue Not Reported on Form 990
$2,694,285
Other Revenue Adjustments
$260,679
Total Revenue per Audited Statements
$32,361,899
Total Revenue per Form 990
$29,928,293
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$23,500,426
Other Expenses$4,789,778
Total Fundraising Expense$892,797
Grants and Similar Amounts Paid$118,446
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,598,393$670,193$508,422$17,777,008
Payroll Taxes$2,419,254$97,682$74,104$2,591,040
Other Employee Benefits$1,247,947$50,388$38,226$1,336,561
Current Officers, Directors, Trustees, and Key Employees$394,638$700,849$112,813$1,208,300
Occupancy$934,079$37,715$28,612$1,000,406
Depreciation Depletion$813,365$32,841$24,914$871,120
Pension Plan Contributions$548,565$22,149$16,803$587,517
Fees for Services Other$473,701$19,127$14,510$507,338
All Other Expenses$384,074$22,827$14,959$421,860
Office Expenses$264,155$10,666$8,091$282,912
Insurance$186,615$7,535$5,716$199,866
Information Technology$180,439$7,286$5,527$193,252
Grants to Domestic Individuals$118,446--$118,446
Advertising$86,392$3,488$2,646$92,526
Conferences and Meetings$62,962$6,139$4,657$73,758
Fees for Services Accounting$55,170$2,228$1,690$59,088
Interest$42,194$1,704$1,292$45,190
Other Expenses$31,090$1,255$952$33,297
Travel$28,721$1,160$880$30,761
Fees for Services Legal$24,012$970$736$25,718
Total Functional Expenses$25,783,735$1,732,118$892,797$28,408,650

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$28,483,568
Expenses per Audited Statements$28,408,650
Total Expenses per Form 990$28,408,650
Expenses Not Reported on Form 990$74,918
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$79,597
Fundraising Gross Income$10,334
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Light Your Hear$158,792$8,046$28,953$-20,907
Pedalfest$57,197$2,288$16,158$-13,870
Total Events$219,039$10,334$79,597$-69,263
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

An independent accounting firm prepares the form 880 based on data submitted by the organization. The organization's cfo reviews the form prior to submission. Any questions or comments are addressed and any necessary changes are made. The 990 is then reviewed by the board finance committee, any questions or comments are addressed and any necessary changes are made. Once approved by the board finance committee, the final version of the form 990 and all related schedules are reviewed and approved by the entire governing body prior to filing with the irs.

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

Annually each officer and trustee completes a disclosure form. As a trustee becomes aware of situations that may apply, they are required to disclose the conflict to the board and it will be reflected in the meeting minutes. He or she cannot attend the trustee discussion of the incident and is ineligible to vote on the matter. The executive committee of the board will review and recommend appropriate action for board approval. Employees are to report conflict situations to the president or the audit committee of the board as necessary and will refrain from any activity that may affect the agency's participation in the transaction or contract.

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

A compensation review for the president/ceo is performed each year by the human resources director and cfo utilizing guidestar, the non profit times, and other sources for comparably sized not-for-profit entities located in the midwest. The report is reviewed and approved by the executive committee of the board of directors and subsequently by the full board in executive session.

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

A compensation review for the cfo and leadership team officers is performed each year by the human resources director and ceo. The compensation review was done using guidestar, and the non profit times. The report is reviewed and approved by the executive committee of the board of directors and subsequently approved by the full board in executive session.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and financial statements are not generally available to the public. Heartspring publishes abbreviated financial information in its annual report, dialogue. Financial information is also provided in conjunction with establishment of relationships with financial institutions and grant proposals as needed.

Filing and Contact Details

Filer

Filer Name
Heartspring Inc
EIN
48-0561969
In Care Of
% CAROLYN WILHELM
Phone
3166348700
Address
8700 EAST 29TH STREET NORTH, WICHITA, KS 67226

Signing Officer

Name
Carolyn Wilhelm
Title
CFO
Phone
3166348700
Signed
2022-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karina Forrest Perkins
Formed
1945
Legal Domicile
Ks
Voting Board Members
14
Independent Board Members
14
Employees
645
Volunteers
94

Preparer

Firm
Bkd Llp
Address
1551 N WATERFRONT PKWY STE 300, WICHITA, KS 67206-6601
Preparer
Shawnell Linot
Phone
3162652811
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

To be a leader and innovator in providing clinically supported services through education and therapies for children with special needs to empower them to grow and learn on a path to a more indpendent life.

Form 990, Part III, Line 4A

The school provides comprehensive supports and interventions serving all areas of a student's life, including, but not limited to: education, life skills, mental wellbeing, medical care, specialized pediatric therapies, workforce development, interpersonal communication, and community based competencies. Heartspring also offers training and consultation services to parents and professionals nationwide and globally.

Form 990, Part III, Line 4B

Heartspring team members also provide specialized consultation, family education, and care club groups designed to build knowledge and capacity in families, community members, and partnerships locally and statewide.

Form 990, Part XI, Line 9

Related organizations' contributions ($335,597)

Financial Statement Notes

Schedule D, Part V, Line 4

The endowment funds are held by the heartspring endowment trust for the benefit of heartspring, inc. A percentage of invested funds, determined annually, is distributed to heartspring, inc. For general operations if the funds were not restricted by the donor or for specific programs or purposes as designated by the donor.

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 2D

Related organizations' investment income 205,507 related organizations' realized gains 156,175 related organizations' expenses (375,652) related organizations' unrealized gains 1,758,147 related organizations' contribution revenue 50 transfers 800 ---------- total 1,745,027

Schedule D, Part XI, Line 4B

Fundraising event expense (74,918) related organization revenue 335,597 ---------- total 260,679

Schedule D, Part XII, Line 2D

Fundraising event expense 74,918

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IRS990/Desc0THE HEARTSPRING SCHOOL SERVES CHILDREN IMPACTED BY COMPLEX INTELLECTUAL AND PHYSICAL CHALLENGES, SUCH AS AUTISM SPECTRUM DISORDER, DEVELOPMENTAL TRAUMA, AND CO-OCCURRING MEDICAL DIAGNOSES. WE OFFER A DAY ONLY AND RESIDENTIAL OPTION SERVING CHILDREN FROM SCHOOL DISTRICTS THROUGHOUT THE UNITED STATES. OUR STUDENTS OFTEN LIVE WITH CHALLENGING AND/OR PAIN BASED BEHAVIORS THAT INTERFERE WITH THEIR ACADEMIC PROGRESS AT SCHOOL, HOME, AND IN THE COMMUNITY. SEE SCHEDULE O FOR CONTINUATION.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$28.6$2.11$26.5$26.1$26.7$0.63
2023Detailed filing. Detailed filing data is available for this year.$28.4$1.91$26.5$25.3$26.6$1.30
2022Detailed filing. Detailed filing data is available for this year.$29.5$2.06$27.4$26.6$28.5$1.90
2021Detailed filing. Detailed filing data is available for this year.$32.8$2.22$30.5$29.9$28.4$1.52
2020Detailed filing. Detailed filing data is available for this year.$34.0$5.58$28.4$26.4$25.5$0.90
2019Detailed filing. Detailed filing data is available for this year.$30.2$2.39$27.8$26.7$23.7$3.01
2018Detailed filing. Detailed filing data is available for this year.$27.3$2.25$25.1$23.5$22.2$1.36
2017Detailed filing. Detailed filing data is available for this year.$25.9$1.77$24.1$21.4$19.7$1.73
2016Detailed filing. Detailed filing data is available for this year.$24.0$1.23$22.8$18.8$18.7$0.08
2015Detailed filing. Detailed filing data is available for this year.$24.6$1.25$23.3$16.7$16.8$0.12
2014Detailed filing. Detailed filing data is available for this year.$24.6$1.04$23.5$16.0$15.9$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.4$1.00$23.4$15.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.1$1.10$23.0$14.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.5$0.92$22.6$14.5