Open Hearts Foundation
Nonprofit profile at a glance
- EIN
- 271215063
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Westlake Village, CA, USA
- Phone
- 8058521367
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $347,573
- Expenses
- $264,751
- Assets
- $670,208
- Liabilities
- $37,668
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- TRENA PITCHFORD (EXECUTIVE DIRECTOR (THRU 3/24))
- SARAH VOHLAND (EXECUTIVE DIRECTOR)
Highest reported compensation
- TRENA PITCHFORD (EXECUTIVE DIRECTOR (THRU 3/24)): $23,892 total reported compensation
- SARAH VOHLAND (EXECUTIVE DIRECTOR): $19,615 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Empower people who turn adversity into possibility
What it reported doing in 2024
The open hearts foundation made investments through its grantmaking program in alignment with its open hearts philosophy, which is inspired by jane seymour's mother, mieke frankenberg. This philosophy drives the foundation's mission forward and its grant cycle funded $100,000 to charities across the united states. The foundation has focused these grant investments primarily to support small, emerging nonprofits with budgets of less than a million dollars. Through the foundation's extensive internal vetting process, 4 charities received grants to support their programs and services in Arizona, California, and Georgia. These nonprofits serve high risk communities in need of food security so that children and families can continue to thrive. As part of the grantmaking program, the foundation shares the mission of each funded charity with its global family of donors and volunteers. Additionally, about half of the charities leverage the foundation's grant as a matching grant and raise double or triple the foundation's grant.
Operating model
- Revenue model
- Donor-supported. 98% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 63
- Transparency & Controls: 94
- Accountability: 100
- Sustainability: 62
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 56.5%; rating input score 57
- Program expense ratio: 73.3%; rating input score 73
- Fundraising efficiency: $22.43 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings
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: 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: 100%; rating input score 100; 63rd 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: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 23.8%; rating input score 77; 77th percentile among comparable filings
- Total-asset coverage ratio: 2.53; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 16.4%; rating input score 23; 23rd percentile among comparable filings
Growth
- Program expense growth: 11.4% per year; rating input score 100; 73rd percentile among comparable filings
- Revenue growth: 5% per year; rating input score 100; 53rd percentile among comparable filings
- Asset growth: 17.7% per year; rating input score 100; 82nd percentile among comparable filings
Details
- Where the money goes: 56.5% of revenue deployed · 73.3% of spending went to programs
- Governance: 8 of 8 board members independent · 8 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $194K in reported program spending
- Leadership: top reported pay $24K · 10 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 7 filed schedules · includes major donors and grants
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 4 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.
- Review — Financial Efficiency: Mission deployment rate scored 57/100.
- High — Sustainability: Officer compensation ratio scored 23/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.