Angelheart Inc

Nonprofit profile at a glance

EIN
742990336
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2024
Location
Round Rock, TX, USA
Phone
1523109857
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Children's, Youth Services

Reported finances

Revenue
$4,395,343
Expenses
$4,574,588
Assets
$7,327,129
Liabilities
$776,839

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Adam Ramsey (President)
  • Meghan Oldis (Executive Director)

Highest reported compensation

  • Meghan Oldis (Executive Director): $103,819 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A Texas State Approved foster care and adoption placement for children under the age of 18 that are in family or self-crisis.

What it reported doing in 2024

Revenues are spent entirely on adoptive and foster children.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 42
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.6%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.1%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 1.6; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: -2.9% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -7.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 99.6% of revenue deployed · 95.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.4M in reported program spending
  • Leadership: top reported pay $104K · 5 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.