Second Heart Homes Inc

Nonprofit profile at a glance

EIN
841848246
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Sarasota, FL, USA
Phone
9412019353
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Temporary Housing

Official website

Reported finances

Revenue
$2,966,641
Expenses
$1,696,105
Assets
$5,928,438
Liabilities
$157,047

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • MEGAN HOWELL (EXECUTIVE DI): $131,310 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of second heart homes is to revive the dignity of homeless adults with mental illnesses through housing, support, and love.

What it reported doing in 2025

The second heart homes' program provides housing with supportive social services through case management to homeless single adults with mental illnesses so they have a place to live and reach their highest level of self-sufficiency.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
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 most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.3%; rating input score 42
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: $19.59 raised per $1 spent on fundraising; rating input score 58; 58th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.8%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 3.5; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 36.1% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 31% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 34.3% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 42.3% of revenue deployed · 72.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $131K · 8 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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: Mission deployment rate scored 42/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.