Cherished Hearts Inc

Nonprofit profile at a glance

EIN
833123056
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Laurel, MS, USA
Phone
6018041515
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Reported finances

Revenue
$538,904
Expenses
$295,358
Assets
$294,015
Liabilities
$45,266

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

Leadership & pay

10 people listed

People named in this filing

  • DANA BUMGARDNER (BOARD MEMBER)
  • ERNEST HOLLINGSWORTH (BOARD MEMBER)
  • JOE MILLER (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

A local emergency shelter to house and provide for persons under eighteen years of age, and to provided assistance to families in Mississippi.

Operating model

Revenue model
Grant-funded. 80% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 69
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.6%; rating input score 52
  • Program expense ratio: 94.1%; rating input score 94
  • Fundraising efficiency: $384.36 raised per $1 spent on fundraising; rating input score 95; 95th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 45.2%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 1; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 51.6% of revenue deployed · 94.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $278K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.