Civic Intelligence

Heartsent Adoptions Inc.

990 • Fiscal year 2019 • EIN 68-0367353

Jan 01, 2019 to Dec 31, 2019 • Filed on May 13, 2020

93 Moraga Way Suite 100Orinda, CA 94563

(925) 254-8883

Siviq Scores

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

Liabilities / Assets

91st percentile

0.94x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

58th percentile

0.13x

Higher debt load relative to revenue than 58% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

50th percentile

3.3%

Higher net margin than 50% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

65th percentile

$93,133

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

32nd percentile

-1.7%

Faster asset growth than 32% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

75th percentile

21%

Faster revenue growth than 75% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$152,759

Down $2,684 (-1.7%) from 2018

Net Assets

Down

$8,541

Down $3,973 (-32%) from 2018

Liabilities

Up

$144,218

Up $1,289 (+0.9%) from 2018

Revenue

Up

$1,073,034

Up $185,858 (+21%) from 2018

Expenses

Down

$1,037,849

Down $77,078 (-6.9%) from 2018

Net Income

Up

$35,185

Up $262,936 (+115%) from 2018

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $225,566Liabilities 2011: $16,862Net Assets 2011: $208,7042011Assets 2012: $156,151Liabilities 2012: $76,525Net Assets 2012: $79,6262012Assets 2013: $266,585Liabilities 2013: $45,314Net Assets 2013: $221,2712013Assets 2014: $302,596Liabilities 2014: $14,088Net Assets 2014: $288,5082014Assets 2015: $281,567Liabilities 2015: $23,345Net Assets 2015: $258,2222015Assets 2016: $242,234Liabilities 2016: $106,204Net Assets 2016: $136,0302016Assets 2017: $275,840Liabilities 2017: $108,120Net Assets 2017: $167,7202017Assets 2018: $155,443Liabilities 2018: $142,929Net Assets 2018: $12,5142018Assets 2019: $152,759Liabilities 2019: $144,218Net Assets 2019: $8,5412019Assets 2020: $257,665Liabilities 2020: $74,492Net Assets 2020: $183,1732020Assets 2021: $216,190Liabilities 2021: $41,490Net Assets 2021: $174,7002021Assets 2022: $378,764Liabilities 2022: $266,918Net Assets 2022: $111,8462022Assets 2023: $462,347Liabilities 2023: $222,258Net Assets 2023: $240,0892023Assets 2024: $474,178Liabilities 2024: $178,731Net Assets 2024: $295,4472024

Highlighted filing

2019

Assets$152,759
Liabilities$144,218
Net Assets$8,541

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,496,5552011Revenue 2012: $1,202,481Expenses 2012: $1,242,454Net Income 2012: -$39,9732012Revenue 2013: $1,416,822Expenses 2013: $1,275,177Net Income 2013: $141,6452013Revenue 2014: $1,679,257Expenses 2014: $1,612,022Net Income 2014: $67,2352014Revenue 2015: $1,650,433Expenses 2015: $1,681,978Net Income 2015: -$31,5452015Revenue 2016: $1,454,817Expenses 2016: $1,580,633Net Income 2016: -$125,8162016Revenue 2017: $1,229,472Expenses 2017: $1,268,931Net Income 2017: -$39,4592017Revenue 2018: $887,176Expenses 2018: $1,114,927Net Income 2018: -$227,7512018Revenue 2019: $1,073,034Expenses 2019: $1,037,849Net Income 2019: $35,1852019Revenue 2020: $1,124,191Expenses 2020: $958,764Net Income 2020: $165,4272020Revenue 2021: $996,637Expenses 2021: $994,459Net Income 2021: $2,1782021Revenue 2022: $815,408Expenses 2022: $886,476Net Income 2022: -$71,0682022Revenue 2023: $805,680Expenses 2023: $677,437Net Income 2023: $128,2432023Revenue 2024: $702,916Expenses 2024: $647,558Net Income 2024: $55,3582024

Highlighted filing

2019

Revenue$1,073,034
Expenses$1,037,849
Net Income$35,185
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 13, 2020
Return Version
2019v5.1
Gross Receipts
$1,073,034
Mission and Program Overview

Mission

Heartsent Adoptions Inc is a full service domestic and international adoption agency that provides assistance and education to adopting parents and families

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$131,070$130,295▼ $775
Land, Buildings, and Equipment, Net$20,328$18,419▼ $1,909
Prepaid Expenses and Deferred Charges$4,045$4,045→ $0
Total Assets$155,443$152,759▼ $2,684
Liabilities
Unsecured Notes Loans Payable$112,900$120,000▲ $7,100
Accounts Payable and Accrued Expenses$24,504$18,693▼ $5,811
Other Liabilities$5,525$5,525→ $0
Total Liabilities$142,929$144,218▲ $1,289
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,514$8,541▼ $3,973
Total Net Assets Fund Balance$12,514$8,541▼ $3,973
Total Liabilities and Net Assets / Fund Balance$155,443$152,759▼ $2,684

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$18,303$34,575-
Equipment$116$144,790-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Val FreeExecutive DirectorFT$93,133$93,133
Richard LotspeichTreasurerFT$49,834$49,834
Revenue and Support

Revenue Composition

Contributions and Grants
$5,100
Program Service Revenue
$1,067,725
Investment Income
$209
Other Revenue
$0
All Other Contributions
$5,100
Change in Net Assets
$35,185
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$544,294
Salaries, Compensation, and Employee Benefits$493,555
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$229,652$57,413-$287,065
Current Officers, Directors, Trustees, and Key Employees$114,374$28,593-$142,967
Occupancy$81,980$20,495-$102,475
All Other Expenses$66,232$16,557-$82,789
Payroll Taxes$38,708$9,677-$48,385
Insurance$23,076$5,769-$28,845
Fees for Services Accounting$22,772$5,693-$28,465
Other Employee Benefits$12,110$3,028-$15,138
Office Expenses$8,260$2,065-$10,325
Other Expenses$7,734$1,934-$9,668
Fees for Services Legal$4,759$1,190-$5,949
Advertising$4,270$1,068-$5,338
Travel$4,259$1,065-$5,324
Interest$2,658$664-$3,322
Depreciation Depletion$1,909--$1,909
Fees for Services Other$498$125-$623
Total Functional Expenses$830,660$207,189$0$1,037,849
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contractual Obligation$5,525
Governance and Compliance

Governance Checklist

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

Governance Explanations

Officer directors etc family relationship Part VI line 2

FORM 990, PART VI, LINE 2- BUSINESS OR FAMILY RELATIONSHIP OF OFFICERS, DIRECTORS, ETC.The two officer are husband and wife

Form 990 governing body review Part VI line 11

No review was or will be conducted.

CEO executive director top management comp Part VI line 15A

Heartsents compensation committee reviews managements salaries and compares them to salaries paid by other adoption agencies and nonprofit organizations in the San Francisco Bay Area. Management salaries are then voted on by the board.

Governing documents etc available to public Part VI line 19

Governing documents, policies, and financial statements are available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
Heartsent Adoptions Inc
EIN
68-0367353
Address
93 Moraga Way Suite 100, Orinda, CA 94563

Signing Officer

Name
Richard Lotspeich
Title
Treasurer
Phone
9252548883
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Formed
1995
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
19

Preparer

Firm
RG Davis & Company
Address
3650 Mt Diablo Blvd Suite 105, Lafayette, CA 94549
Preparer
Rex G Davis
Phone
9252990121
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Contractual Oblication balance as of December 31, 2018- $5,525

List of other expenses Part IX line 24E

Automobile- $ 1,931Bank - 3,225Postage - 9,799Training - 1,609Tax - 25Freight - 21,962Utilities - 359Dues - 7147Supplies - 9,281Exp Reim - 3,021Licenses - 2,260Prog Exp - 11,591Internet - 1,302 Payroll Fee- 3,205 Staff exp - 2,619 Clean maint - 1,988Program Dev- 1,465Total $ 82,789

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IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0319
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0319
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99970
IRS990ScheduleA/PublicSupportTotal509Amt06382803
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01072225
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0921865
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01284108
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01454521
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01650084
IRS990ScheduleA/Total509Grp/TotalAmt06382803
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01072434
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0922041
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01284796
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01454817
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01650433
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06384521
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0116
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0144790
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0144906
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt018303
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt034575
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt052878
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Contractual Obligation
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018419
IRS990ScheduleD/TotalLiabilityAmt05525
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, LINE 2- BUSINESS OR FAMILY RELATIONSHIP OF OFFICERS, DIRECTORS, ETC.The two officer are husband and wife
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Heartsents compensation committee reviews managements salaries and compares them to salaries paid by other adoption agencies and nonprofit organizations in the San Francisco Bay Area. Management salaries are then voted on by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents, policies, and financial statements are available to the general public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Contractual Oblication balance as of December 31, 2018- $5,525
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Automobile- $ 1,931Bank - 3,225Postage - 9,799Training - 1,609Tax - 25Freight - 21,962Utilities - 359Dues - 7147Supplies - 9,281Exp Reim - 3,021Licenses - 2,260Prog Exp - 11,591Internet - 1,302 Payroll Fee- 3,205 Staff exp - 2,619 Clean maint - 1,988Program Dev- 1,465Total $ 82,789
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0155443
IRS990/TotalAssetsEOYAmt0152759
IRS990/TotalAssetsGrp/BOYAmt0155443
IRS990/TotalAssetsGrp/EOYAmt0152759
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05100
IRS990/TotalEmployeeCnt019
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0207189
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0830660
IRS990/TotalFunctionalExpensesGrp/TotalAmt01037849
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0142929
IRS990/TotalLiabilitiesEOYAmt0144218
IRS990/TotalLiabilitiesGrp/BOYAmt0142929
IRS990/TotalLiabilitiesGrp/EOYAmt0144218
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012514
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08541
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0830660
IRS990/TotalProgramServiceRevenueAmt01067725
IRS990/TotalReportableCompFromOrgAmt0142967
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01067934
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01073034
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0155443
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0152759
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt01065
IRS990/TravelGrp/ProgramServicesAmt04259
IRS990/TravelGrp/TotalAmt05324
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0112900
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0120000
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.heartsent.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Richard Lotspeich
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum09252548883
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Heartsent Adoptions Inc
ReturnHeader/Filer/BusinessNameControlTxt0HEAR
ReturnHeader/Filer/EIN0680367353
ReturnHeader/Filer/USAddress/AddressLine1Txt093 Moraga Way Suite 100
ReturnHeader/Filer/USAddress/CityNm0Orinda
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094563
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B6BD59EB2B0BF1D035EF2C7055301507AEBD602D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B6BD59EB2B0BF1D035EF2C7055301507AEBD602D
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId09460652020135lupflb4
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-05-14
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt073.15.164.136
ReturnHeader/FilingSecurityInformation/IPDt02020-05-14
ReturnHeader/FilingSecurityInformation/IPTm011:59:21
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943138300
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RG Davis & Company
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03650 Mt Diablo Blvd Suite 105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lafayette
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094549
ReturnHeader/PreparerPersonGrp/PhoneNum09252990121
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rex G Davis
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-05-14T11:55:35-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.18$0.30$0.70$0.65$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.22$0.24$0.81$0.68$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.27$0.11$0.82$0.89$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.04$0.17$1.00$0.99$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.07$0.18$1.12$0.96$0.17
2019Detailed filing. Detailed filing data is available for this year.$0.15$0.14$0.01$1.07$1.04$0.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.14$0.01$0.89$1.11$0.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.11$0.17$1.23$1.27$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.11$0.14$1.45$1.58$0.13
2015Detailed filing. Detailed filing data is available for this year.$0.28$0.02$0.26$1.65$1.68$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.29$1.68$1.61$0.07
2013Detailed filing. Detailed filing data is available for this year.$0.27$0.05$0.22$1.42$1.28$0.14
2012Summary only. Only limited summary data is available for this year.$0.16$0.08$0.08$1.20$1.24$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.02$0.21$1.50