Hearts 4 Progress
Nonprofit profile at a glance
- EIN
- 844256440
- IRS 990-EZ coverage
- 2022–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2021
- Location
- Chesapeake, VA, USA
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $72,287
- Expenses
- $52,748
- Assets
- $60,309
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Patricia Y King MD (President)
- Lajuana C Collins MD (Vice President)
People named in this filing
- Patricia Y King MD (President)
- Lajuana C Collins MD (Vice President)
- Denise Lipscomb (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Scholarship awards to minority medical school students
What it reported doing in 2024
Scholarship awards
Operating model
- Revenue model
- Donor-supported. 65% of the money available for current operations came from contributions and gifts.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filed totals do not add up and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 79
- Transparency & Controls: 100
- Sustainability: 58
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 69.2%; rating input score 69
- Program expense ratio: 94.8%; rating input score 95
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 27%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 1.14; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 29.8% per year; rating input score 100; 87th percentile among comparable filings
- Revenue growth: 10.3% per year; rating input score 100; 82nd percentile among comparable filings
- Asset growth: 39.9% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 69.2% of revenue deployed · 94.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $50K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 5 of 7 current checks pass · 2 findings to review
- Schedules: 4 filed schedules
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- 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 — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.