Heart Disease Research Foundation

Nonprofit profile at a glance

EIN
116036278
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
7146326800
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Heart, Circulatory Research

Reported finances

Revenue
$61,837
Expenses
$390,963
Assets
$7,048,199
Liabilities
$54

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

Leadership & pay

7 people listed

People named in this filing

  • Hawk Tran (Chair)
  • Michele Packard-Milam (Immediate Past)
  • Michele Blair (Treasurer)

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

Pursuant to the deed of trust, dated january 12, 1961, the foundation'spurpose is uplifting and the upbuilding of the unfortunate, theamelioration of the sufferings of the afflicted, the encouragement, improvement and betterment of mankind, the discovery of the causes andcures of those diseases that presently afflict mankind, particularly, butnot limited to diseases of the heart and related diseases.

What it reported doing in 2024

Pursuant to the deed of trust, dated january 12, 1961, the foundation is identifyingorganizations that are providing health care and education to underserved communities with a focus on cardiovascular diseases and related illnesses. The foundation intends to partner with these organizations to provide funding, grants, or other resources needed to help the organization continue to make an impact in the community. The foundation is also evaluating opportunities to support students, academics, or specific programs in research based medical schools.

Operating model

Revenue model
Investment-supported. 67% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 88% of its reported program spending out as grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 93
  • Accountability: 74
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.9%; rating input score 87
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 26th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Fail

Sustainability

  • Operating margin: -532.2%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 18.03; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 75% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 35.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 0% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.9% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $340K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 3 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
  • High — Grant Readiness: California registration: this organization is not authorized to operate as a charity in California.