Civic Intelligence

Borrowed Hearts Foundation Inc

990 • Fiscal year 2023 • EIN 81-1358951

Jan 01, 2023 to Dec 31, 2023 • Filed on May 01, 2024

Organization Profilewww.borrowedheartsfoundation.org
8230 Burch Park DriveEvansville, IN 47725

(812) 602-5551

Siviq Scores

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

Liabilities / Assets

59th percentile

0.04x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

75th percentile

0.18x

Higher debt load relative to revenue than 75% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

23rd percentile

-11%

Higher net margin than 23% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

26th percentile

-4.8%

Faster asset growth than 26% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

22nd percentile

-14%

Faster revenue growth than 22% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$611,439

Down $30,994 (-4.8%) from 2022

Net Assets

Down

$584,228

Down $44,858 (-7.1%) from 2022

Liabilities

Up

$27,211

Up $13,864 (+104%) from 2022

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin23rd percentile

Revenue

Down

$154,459

Down $25,063 (-14%) from 2022

Expenses

Down

$171,664

Down $4,884 (-2.8%) from 2022

Net Income

Down

-$17,205

Down $20,179 (-679%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$800K$600K$400K$200K$0Assets 2019: $60,729Liabilities 2019: $205Net Assets 2019: $60,5242019Assets 2020: $153,102Liabilities 2020: $537Net Assets 2020: $152,5652020Assets 2021: $278,979Liabilities 2021: $11,677Net Assets 2021: $267,3022021Assets 2022: $642,433Liabilities 2022: $13,347Net Assets 2022: $629,0862022Assets 2023: $611,439Liabilities 2023: $27,211Net Assets 2023: $584,2282023Assets 2024: $473,427Liabilities 2024: $5,878Net Assets 2024: $467,5492024

Highlighted filing

2023

Assets$611,439
Liabilities$27,211
Net Assets$584,228
Open 2023 Filing

Operations Trend

Revenue Growth22nd percentile

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

$400K$200K$0-$200KRevenue 2019: $97,158Expenses 2019: $53,237Net Income 2019: $43,9212019Revenue 2020: $160,435Expenses 2020: $68,394Net Income 2020: $92,0412020Revenue 2021: $229,918Expenses 2021: $115,181Net Income 2021: $114,7372021Revenue 2022: $179,522Expenses 2022: $176,548Net Income 2022: $2,9742022Revenue 2023: $154,459Expenses 2023: $171,664Net Income 2023: -$17,2052023Revenue 2024: $164,879Expenses 2024: $288,375Net Income 2024: -$123,4962024

Highlighted filing

2023

Revenue$154,459
Expenses$171,664
Net Income-$17,205
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 1, 2024
Return Version
2023v5.1
Gross Receipts
$154,459
Mission and Program Overview

Mission

To assist foster children and families

To lead the efforts in which every foster family attains the rights to clothing, hygiene, development, and a loving support system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$335,986$312,687▼ $23,299
Land, Buildings, and Equipment, Net$283,625$298,752▲ $15,127
Total Assets$642,433$611,439▼ $30,994
Other Assets Total$22,822--
Liabilities
Grants Payable$13,347$27,211▲ $13,864
Total Liabilities$13,347$27,211▲ $13,864
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$578,099$533,241▼ $44,858
Net Assets With Donor Restrictions$50,987$50,987→ $0
Total Net Assets Fund Balance$629,086$584,228▼ $44,858
Total Liabilities and Net Assets / Fund Balance$642,433$611,439▼ $30,994

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$275,128$14,872$290,000
Leasehold Improvements$22,822-$22,822
Equipment$802$1,011$1,813
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Gina GibsonPresident
Daryl MarinVice President
Kasey FuquayBoard Member
Tamika WarrenBoard Member
Billye BeckhamExecutive Director
Ashley HookTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$154,260
Program Service Revenue
$0
Investment Income
$199
Other Revenue
$0
All Other Contributions
$154,260
Change in Net Assets
$-17,205
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$93,361
Salaries, Compensation, and Employee Benefits$75,530
Total Fundraising Expense$20,540
Professional Fundraising Fees$2,773
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$44,571$12,735$6,367$63,673
Fees for Services Management-$18,533-$18,533
Occupancy$12,755$3,644$1,822$18,221
Payroll Taxes$7,962$2,275$1,137$11,374
Office Expenses$2,577$5,133$3,501$11,211
Depreciation Depletion$7,719--$7,719
Fees for Services Accounting-$6,986-$6,986
Insurance$1,639$3,278$1,639$6,556
Advertising$1,178$2,355$1,178$4,711
Information Technology$1,027$2,055$1,027$4,109
Other Expenses$2,683$766$382$3,831
Fees for Services Professional Fundraising--$2,773$2,773
Fees for Services Legal-$2,460-$2,460
All Other Expenses$610$309$610$1,529
Other Salaries and Wages$338$97$48$483
Conferences and Meetings$10$20$10$40
Total Functional Expenses$90,387$60,737$20,540$171,664
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$2,773
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
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Governing body decisions Part VI line 7B

“All decisions and approvals must be made by the board of directors.”

Governing body meeting documentation Part VI line 8A

“All meeting minutes are documented by the Secretary of the Board of Directors”

Form 990 governing body review Part VI line 11

“Form 990 is reviewed by the Board of Directors prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“The Organization has a conflict of interest policy and it is monitored by the Board of Directors.”

CEO executive director top management comp Part VI line 15A

“Compensation is reviewed and approved by the Board of Directors annually.”

Other officer or key employee compensation Part VI line 15B

“Compensation of key employees are set by the board of directors and reviewed annually.”

Form 990 availability to public Part VI line 18

“Form 990 is available upon request.”

Governing documents etc available to public Part VI line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Borrowed Hearts Foundation Inc
EIN
81-1358951
Address
8230 Burch Park Drive, Evansville, IN 47725

Signing Officer

Name
Wes Terry
Title
Accountant
Phone
8126025551
Signed
2024-05-01
Discuss with paid preparer
Yes

Organization Details

Formed
2016
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
3

Preparer

Firm
MarshTerry&Associates
Address
3420 Newton Street, Jasper, IN 47546
Preparer
Wesley A Terry CPA
Phone
8124811553
Supplemental Narrative

Additional Explanations

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

“Assets in service in a prior year”

Raw XML AppendixShowing 400 of 401 raw XML fields

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/ExplanationTxt0All decisions and approvals must be made by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All meeting minutes are documented by the Secretary of the Board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is reviewed by the Board of Directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization has a conflict of interest policy and it is monitored by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation is reviewed and approved by the Board of Directors annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Compensation of key employees are set by the board of directors and reviewed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Form 990 is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Governing documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Assets in service in a prior year
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing body meeting documentation Part VI line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Wes Terry
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Accountant
ReturnHeader/BusinessOfficerGrp/PhoneNum08126025551
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Borrowed Hearts Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0BORR
ReturnHeader/Filer/EIN0811358951
ReturnHeader/Filer/USAddress/AddressLine1Txt08230 Burch Park Drive
ReturnHeader/Filer/USAddress/CityNm0Evansville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0743038610
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MarshTerry&Associates
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03420 Newton Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Jasper
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
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ReturnHeader/PreparerPersonGrp/PhoneNum08124811553
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Wesley A Terry CPA
ReturnHeader/ReturnTs02024-11-15T11:13:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$611,439
Liabilities
$27,211
Net assets
$584,228
Revenue
$154,459
Expenses
$171,664
Net income
-$17,205
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.73$0.06$4.68$1.65$2.88$1.23
2023Detailed filing. Detailed filing data is available for this year.$6.11$0.27$5.84$1.54$1.72$0.17
2022Detailed filing. Detailed filing data is available for this year.$6.42$0.13$6.29$1.80$1.77$0.03
2021Detailed filing. Detailed filing data is available for this year.$2.79$0.12$2.67$2.30$1.15$1.15
2020Detailed filing. Detailed filing data is available for this year.$1.53$0.01$1.53$1.60$0.68$0.92
2019Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$0.97$0.53$0.44