Heart Disease Research Institute

Nonprofit profile at a glance

EIN
510555174
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Glendale, AZ, USA
Phone
6235664174
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$60,337
Expenses
$60,374
Assets
$17,350
Liabilities
$5,136

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

Leadership & pay

3 people listed

Executive titles in this filing

  • MICHAEL MACKAY (PRESIDENT)
  • WES WOODS (VICE PRESIDENT)

Highest reported compensation

  • MICHAEL MACKAY (PRESIDENT): $18,660 total reported compensation

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

Overview

Mission

The Organization supports research programs and treatment of patients with heart disease and other degenerative diseases. It ships medical and surgical equipment, supplies, and humanitarian aid to hospitals and clinics worldwide.

What it reported doing in 2024

The Organization provided for shipments of medical equipment and supplies to Espiranza De Vida in Guatemala who provide ongoing medical care to the needy and disadvanted children and people of their areas. The regions they serve are targeted areas by the World Health Organization to combat famine and various degenerative diseases. The lack of properly stocked medical facilities contributes to the ongoing challences of saving lives.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 77
  • Accountability: 70
  • Sustainability: 32
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.2%; rating input score 86
  • Program expense ratio: 86.1%; rating input score 86
  • Fundraising efficiency: $21.46 raised per $1 spent on fundraising; rating input score 69; 69th 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: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 22nd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Fail

Sustainability

  • Operating margin: -0.1%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.29; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 30.9%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -24.7% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -24.8% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -10.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 86.2% of revenue deployed · 86.1% of spending went to programs
  • Governance: 2 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $52K in reported program spending
  • Leadership: top reported pay $19K · 3 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors and foreign activity
  • Filing history: 12 filing years from 2013 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.

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.