Heartland Charitable Trust

Nonprofit profile at a glance

EIN
426549922
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Dubuque, IA, USA
Phone
5635892133
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Federated Giving Programs

Reported finances

Revenue
$1,753,911
Expenses
$1,919,205
Assets
$7,723,659
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

2 people listed

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Grants to charitable organizations - the trust gathers contributions from individual organizations, then holds these funds until disbursed to sec. 501 (c)(3) organizations

What it reported doing in 2023

To provide donor advised grants to charitable organizations schedule attached.

Operating model

Revenue model
Donor-supported. 79% 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.
  • 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. A relatively small share of voting board members are independent and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 74
  • Accountability: 30
  • Sustainability: 44
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 42.8%; rating input score 43; 27th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -9.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 4.02; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -9.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -11.5% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.4% of spending went to programs
  • Governance: 0 of 1 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $69K · 2 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Money network: 29 filed money-flow records
  • Related organizations: 31 filed related-organization links
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 43/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.