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← HOPING HEARTS FOUNDATION INC

Form 990 for tax year 2023

Filed by HOPING HEARTS FOUNDATION INC.

Totals

Total revenue
$3,393,381
Total expenses
$3,142,694
Contributions and grants received
$3,132,924
Grants paid
$2,616,939
Program service revenue
$0
Investment income
$33,617
Other revenue
$226,840
Total assets, end of year
$4,282,762
Total liabilities, end of year
$9,078
Net assets or fund balances, end of year
$4,273,684
Program services expenses (Part IX)
$2,936,139
Management and general expenses
$94,624
Fundraising expenses
$111,931
Program service expenses (Part III)
$2,936,139

Program services were 93.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $3,132,924

  • 3 · Investment income

    total $33,617 · excluded $33,617

  • 8a · Fundraising events: gross income

    $240,046

  • 8b · Fundraising events: direct expenses

    $13,206

  • 8c · Net income from fundraising events

    total $226,840 · excluded $226,840

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,616,939 · program services $2,616,939

  • 5 · Compensation of officers, directors and key employees

    total $60,000 · program services $30,000 · management and general $15,000 · fundraising $15,000

  • 7 · Other salaries and wages

    total $101,946 · program services $50,973 · management and general $25,487 · fundraising $25,486

  • 9 · Other employee benefits

    total $46,735 · program services $23,368 · fundraising $23,367

  • 10 · Payroll taxes

    total $12,278 · program services $6,139 · management and general $3,069 · fundraising $3,070

  • 11b · Fees: legal

    total $4,089 · management and general $4,089

  • 11c · Fees: accounting

    total $20,192 · management and general $20,192

  • 11g · Fees: other

    total $60,244 · program services $53,088 · management and general $7,156

  • 12 · Advertising and promotion

    total $17,169 · program services $17,169

  • 13 · Office expenses

    total $8,717 · program services $5,231 · management and general $2,615 · fundraising $871

  • 17 · Travel

    total $17,693 · program services $1,769 · management and general $15,924

  • 23 · Insurance

    total $4,368 · program services $2,184 · management and general $1,092 · fundraising $1,092

  • 24a · Other expenses: BANK FEES

    total $86,234 · program services $86,234

  • 24b · Other expenses: CONTRACT LABOR

    total $86,090 · program services $43,045 · fundraising $43,045

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $983,895 · end of year $768,458

  • 2 · Savings and temporary cash investments

    beginning of year $897,162 · end of year $301,486

  • 3 · Pledges and grants receivable

    beginning of year $60,096 · end of year $73,326

  • 11 · Investments: publicly traded securities

    beginning of year $2,015,629 · end of year $3,139,492

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,031 · end of year $9,078

  • 27 · Net assets without donor restrictions

    beginning of year $3,932,751 · end of year $4,273,684

Mission and programs · 2023

Mission

THE HOPING HEARTS FOUNDATION WAS CREATED TO BRING FOCUS TO THE GROWING WORLD-WIDE ORPHAN PROBLEM, ADDRESS THE CAUSES LEADING TO CHILDREN BECOMING ORPHANS, AND SUPPORT FAMILIES IN THEIR QUEST TO ADOPT WITH FINANCIAL ASSISTANCE AND TIMELY INFORMATION TO FACILITATE THE ADOPTION PROCESS.

  • ADOPTION ASSISTANCE

    Expenses $2,936,139 · Grants $2,616,939

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CHARLES L FORTENER

    FOUNDER/PRESIDENT AND BOAR

    Total calculated
    $60,000
    From this org
    $60,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    25

  • THOMAS J ROTTERMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • CONNIE ROTTERMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • MICHAEL D GRIMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • DANIEL CHIP JAMES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202412959349300636

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