Heartbeet Lifesharing Corporation
- Assets
- $6.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 42
- Location
- Hardwick, VT
- Founding
- 04/2002
- Data as of
- 06/2021
- EIN
- 03-0370105
Organization Overview
Heartbeet Lifesharing Corporation is located in Hardwick, VT. The organization was established in 2002. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 06/2021, Heartbeet Lifesharing Corporation employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartbeet Lifesharing Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Heartbeet Lifesharing Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.2m during the year ending 06/2021. While expenses have increased by 5.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEARTBEET LIFESHARING IS A COMMUNITY OF PEOPLE WHICH INCLUDE ADULTS WITH DISABILITIES LIVING AND SHARING THEIR LIVES TOGETHER. HEARTBEET USES DAILY LIFE AS AN OPPORTUNITY FOR VARIOUS FORMS OF THERAPHY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Schwartz-Gilbert Exec Dir/trustee(res. 8/8/20) | OfficerTrustee | 40 | $74,572 |
Patrick Mccarthy Fin Dir/trustee (res. 9/4/20) | OfficerTrustee | 40 | $39,407 |
Leigh Holiday Trustee | Trustee | 40 | $36,731 |
Marcianna Morse Secretary/trustee | OfficerTrustee | 40 | $20,218 |
Eric Tidblom Finance Director/trustee | OfficerTrustee | 40 | $19,744 |
Sara Hatch Trustee (resigned 3/1/21) | Trustee | 40 | $19,711 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $261,712 |
| Noncash contributions included in lines 1a–1f | $6,806 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $353,412 |
| Total Program Service Revenue | $1,181,382 |
| Investment income | $2,236 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$67,473 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,615 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,474,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,852 |
| Compensation of current officers, directors, key employees. | $11,831 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $333,935 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,946 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,308 |
| Fees for services: Accounting | $39,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,669 |
| Advertising and promotion | $6,212 |
| Office expenses | $49,940 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $273,675 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,888 |
| Interest | $21,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,454 |
| Insurance | $60,716 |
| All other expenses | $18,149 |
| Total functional expenses | $1,216,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $348,839 |
| Savings and temporary cash investments | $1,029,416 |
| Pledges and grants receivable | $1,250 |
| Accounts receivable, net | $214,680 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,125 |
| Net Land, buildings, and equipment | $4,566,891 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,270,201 |
| Accounts payable and accrued expenses | $53,514 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,054,327 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $130,273 |
| Total liabilities | $1,238,114 |
| Net assets without donor restrictions | $5,026,904 |
| Net assets with donor restrictions | $5,183 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,270,201 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Heartbeet Lifesharing Corporation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Odyssey Group Foundation Stamford, CT PURPOSE: UNRESTRICTED GRANT FOR OPERATING COSTS | $5,000 |
Endowment Analysis
| Beg. Balance | $72,000 |
| Admin Expense | $2,631 |
| Other Expense | $64,186 |
| Ending Balance | $5,183 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysarc Inc Mellenville, NY | $10,700,882 | $19,436,848 |
Nysarc Inc Canandaigua, NY | $15,262,327 | $18,465,487 |
Nysarc Inc Tupper Lake, NY | $12,509,842 | $19,561,322 |
Human First Inc New York, NY | $12,690,892 | $16,902,153 |
Highbridge Advisory Council Day Care & Senior Citizens Center Inc Bronx, NY | $1,780,427 | $17,667,102 |
South Shore Support Services Inc Weymouth, MA | $2,878,959 | $17,706,112 |
Communitas Inc Wakefield, MA | $10,107,493 | $17,984,942 |
The Arc Of Opportunity In North Central Massachusetts Inc Fitchburg, MA | $18,467,193 | $18,583,549 |
Community Connections Inc South Yarmouth, MA | $11,598,404 | $18,444,475 |
Nysarc Inc Oneonta, NY | $7,673,110 | $15,882,956 |
New England Villages Inc Pembroke, MA | $44,008,245 | $13,385,395 |
Arc Of Genesee Orleans Batavia, NY | $0 | $15,556,370 |