Civic Intelligence

Heartsent Adoptions Inc.

990 • Fiscal year 2020 • EIN 68-0367353

Jan 01, 2020 to Dec 31, 2020 • Filed on May 06, 2021

Organization Profilewww.heartsent.org

View Organization Page

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

70th percentile

0.29x

Higher debt load relative to assets than 70% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

37th percentile

0.07x

Higher debt load relative to revenue than 37% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

66th percentile

15%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

47th percentile

$51,500

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

89th percentile

69%

Faster asset growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

4.8%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$257,665

Up $104,906 (+69%) from 2019

Net Assets

Up

$183,173

Up $174,632 (+2045%) from 2019

Liabilities

Down

$74,492

Down $69,726 (-48%) from 2019

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin66th percentile

Revenue

Up

$1,124,191

Up $51,157 (+4.8%) from 2019

Expenses

Down

$958,764

Down $79,085 (-7.6%) from 2019

Net Income

Up

$165,427

Up $130,242 (+370%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

2020

Assets$257,665
Liabilities$74,492
Net Assets$183,173
Open 2020 Filing

Operations Trend

Revenue Growth58th percentile

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

2020

Revenue$1,124,191
Expenses$958,764
Net Income$165,427
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 6, 2021
Return Version
2020v4.1
Gross Receipts
$1,124,191
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$130,295$234,492▲ $104,197
Prepaid Expenses and Deferred Charges$4,045$11,845▲ $7,800
Land, Buildings, and Equipment, Net$18,419$11,328▼ $7,091
Total Assets$152,759$257,665▲ $104,906
Liabilities
Unsecured Notes Loans Payable$120,000$72,600▼ $47,400
Other Liabilities$5,525--
Accounts Payable and Accrued Expenses$18,693$1,892▼ $16,801
Total Liabilities$144,218$74,492▼ $69,726
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,541$183,173▲ $174,632
Total Net Assets Fund Balance$8,541$183,173▲ $174,632
Total Liabilities and Net Assets / Fund Balance$152,759$257,665▲ $104,906

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,400$43,478-
Equipment$1,928$146,013-
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Richard LotspeichTreasurerFT$51,500$51,500
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$1,032,587
Investment Income
$202
Other Revenue
$90,402
All Other Contributions
$1,000
Change in Net Assets
$165,427
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$490,731
Salaries, Compensation, and Employee Benefits$468,033
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$257,111$64,278-$321,389
All Other Expenses$82,652$20,662-$103,314
Current Officers, Directors, Trustees, and Key Employees$78,617$19,654-$98,271
Occupancy$65,604$16,401-$82,005
Payroll Taxes$25,683$6,421-$32,104
Office Expenses$18,846$4,711-$23,557
Interest$15,868$3,967-$19,835
Insurance$15,289$3,822-$19,111
Other Employee Benefits$13,015$3,254-$16,269
Fees for Services Accounting$11,520$2,880-$14,400
Advertising$10,950$2,737-$13,687
Other Expenses$7,613$1,903-$9,516
Travel$2,674$668-$3,342
Depreciation Depletion$1,223--$1,223
Total Functional Expenses$767,258$191,506$0$958,764
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-
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.”

Form 990 governing body review Part VI line 11

“Review has been and will be conducted by governing body on an ongoing basis.”

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
2021-05-06
Discuss with paid preparer
Yes

Organization Details

Formed
1995
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
26

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

“Depreciation Expense, $1,223”

List of other expenses Part IX line 24E

“Automobile- $ 1,130Bank - 3,378Postage - 248Tax - 8Freight - 16,558Utilities - 1,059 Dues - 6,066Supplies - 3,274Exp Reim - 4,997Licenses - 1,286Prog Exp - 40,044Internet - 756 Payroll Fee- 2,621 Staff exp - 1,227 Total $ 82,652”

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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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01284108
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01454521
IRS990ScheduleA/Total509Grp/TotalAmt05767833
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01035316
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01072434
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0922041
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01284796
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01454817
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05769404
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01928
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0146013
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0147941
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09400
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt043478
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt052878
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Contractual Obligation
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011328
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, LINE 2- BUSINESS OR FAMILY RELATIONSHIP OF OFFICERS, DIRECTORS, ETC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Review has been and will be conducted by governing body on an ongoing basis.
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/ExplanationTxt4Depreciation Expense, $1,223
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Automobile- $ 1,130Bank - 3,378Postage - 248Tax - 8Freight - 16,558Utilities - 1,059 Dues - 6,066Supplies - 3,274Exp Reim - 4,997Licenses - 1,286Prog Exp - 40,044Internet - 756 Payroll Fee- 2,621 Staff exp - 1,227 Total $ 82,652
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/TotalAssetsBOYAmt0152759
IRS990/TotalAssetsEOYAmt0257665
IRS990/TotalAssetsGrp/BOYAmt0152759
IRS990/TotalAssetsGrp/EOYAmt0257665
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000
IRS990/TotalEmployeeCnt026
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0191506
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0767258
IRS990/TotalFunctionalExpensesGrp/TotalAmt0958764
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0144218
IRS990/TotalLiabilitiesEOYAmt074492
IRS990/TotalLiabilitiesGrp/BOYAmt0144218
IRS990/TotalLiabilitiesGrp/EOYAmt074492
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08541
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0183173
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0767258
IRS990/TotalProgramServiceRevenueAmt01032587
IRS990/TotalReportableCompFromOrgAmt051500
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01123191
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01124191
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0152759
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0257665
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt0668
IRS990/TravelGrp/ProgramServicesAmt02674
IRS990/TravelGrp/TotalAmt03342
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0120000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt072600
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.heartsent.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Richard Lotspeich
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum09252548883
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-06
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/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/PreparationDt02021-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rex G Davis
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-05-16T22:34:43-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Richard
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Lotspeich
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$257,665
Liabilities
$74,492
Net assets
$183,173
Revenue
$1,124,191
Expenses
$958,764
Net income
$165,427
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
2020Detailed filing. Detailed filing data is available for this year.$0.26$0.07$0.18$1.12$0.96$0.17
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$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