Heart for Monroe Inc

Nonprofit profile at a glance

EIN
811875190
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Monroe, NC, USA
Phone
8663678833
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Official website

Reported finances

Revenue
$120,731
Expenses
$95,302
Assets
$30,953
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Ginger Walle (Chairman and Executive Director)

People named in this filing

  • Ginger Walle (Chairman and Executive Director)
  • Erika Harvey (Vice Chairman)
  • Rich Majewski (Vice Chairman)

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

Heart for Monroe is a nonprofit organization that exists to unite and mobilize churches, community organizations, ministries, businesses, and individuals to address homelessness, hunger, education, and build relationships in our community.

What it reported doing in 2024

In-school Ministry Mentoring Clubs (materials, food, mentoring kits, guest speakers). H4M Community Ministry Events (free food, clothing, school supplies, toiletries, music, hot food, drive thru avaiable). Free H4M Youth ministry events (after school and summer) The Closet (free clothing ministry, food, snacks, school supplies, new beds for kids, donated furniture) for those in need. Chalk It Up to Love (free school supplies and snacks for teachers in low income schools). Senior Adult Support (food & events. Prom Dress Event (free prom dresses and attire for students in need) Healthy Mind Healthy Living Program.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.7%; rating input score 51
  • Program expense ratio: 64.2%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -6.7% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 40.9% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 50.7% of revenue deployed · 64.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $61K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • 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 51/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.