Heartbeet Lifesharing Corporation

Nonprofit profile at a glance

EIN
030370105
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Hardwick, VT, USA
Phone
8044723285
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Developmentally Disabled Centers
Affiliation
Christianity

Reported finances

Revenue
$1,829,980
Expenses
$1,758,668
Assets
$6,405,949
Liabilities
$916,617

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ROY TAU (PRESIDENT / TRUSTEE)
  • JUDITH JACKSON (VICE PRESIDENT / TRUSTEE)

Highest reported compensation

  • JAIME WALKER (TRUSTEE): $65,408 total reported compensation
  • MARCIANNA MORSE (SECRETARY / TRUSTEE): $25,589 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

Heartbeet lifesharing is a community of people which include adults with disabilities living and sharing their lives together. Heartbeet uses daily life as an opportunity for various forms of therapy.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 85
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.4%; rating input score 68
  • Program expense ratio: 73%; rating input score 73
  • Fundraising efficiency: $9.64 raised per $1 spent on fundraising; rating input score 37; 37th 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: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.9%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 3.64; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 68.4% of revenue deployed · 73% of spending went to programs
  • Governance: 6 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $65K · 8 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.