Happy Hearts Fund Inc
- Assets
- $3.0m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 7
- Location
- New York, NY
- Founding
- Data as of
- 06/2017
- EIN
- 20-5072728
Organization Overview
Happy Hearts Fund Inc is located in New York, NY. As of 06/2017, Happy Hearts Fund Inc employed 7 individuals. Happy Hearts Fund Inc 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 06/2017, Happy Hearts Fund Inc generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2017. As we would expect to see with falling revenues, expenses have declined by (12.5%) per year over the past 2 years. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
HAPPY HEARTS FUND IS A NON-PROFIT ORGANIZATION DEDICATED TO REBUILDING SAFE, RESILIENT SCHOOLS IN AREAS IMPACTED BY NATURAL DISASTERS. WE WORK DURING THE GAP PERIOD WHEN CHILDREN ARE FORGOTTEN AFTER EMERGENCY RESPONSE IS COMPLETE, BRINGING HOPE AND EMPOWERMENT TO GENERATIONS OF CHILDREN AND ENTIRE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING TO REBUILD SCHOOLS IN NEPAL DESTROYED BY THE 2015 EARTHQUAKES, WHICH DEVASTATED THE COUNTRY. THESE SCHOOLS PROVIDE A SAFE, QUALITY EDUCATION TO OVER 1500 CHILDREN EACH YEAR.
PROVIDE ASSISTANCE TO CHILDREN THROUGH THE CONSTRUCTION OF A SCHOOL IN HAITI, FOYER CULTUREL DU MEXIQUE LOCATED IN PORT AU PRINCE. ALSO, PROVIDED SERVICES (BOOKS, TEACHER TRAINING, AND OTHER EDUCATIONAL MATERIALS) TO PRODEV SCHOOLS.
FUNDING TO REBUILD PUERTA PELUCHE SCHOOL AFTER A 2017 FLOODING IN PERU. ADDITIONALLY, IMPLEMENTED EMPOWERED YOUNG WOMEN PROJECT IN PERU.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Petra Nemcova Founder | OfficerTrustee | 20 | $0 |
David Hryck Chairman | OfficerTrustee | 5 | $0 |
Sophie Lasry Trustee | Trustee | 2 | $0 |
Yulianna Anikieieva Trustee | Trustee | 2 | $0 |
Kathleen Kelley Treasurer | OfficerTrustee | 2 | $0 |
Philipee Kjellgren Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
All Hands Construction | 6/29/17 | $307,522 |
Manhattan Center Studios Inc Venue/event Services | 6/29/17 | $129,200 |
Fondation Digicel Haiti Construction | 6/29/17 | $293,959 |
Philam Foundation Inc Construction | 6/29/17 | $170,075 |
Constructora Mera Sa De Cv Construction | 6/29/17 | $188,273 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,741,642 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $872,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,613,736 |
| Total Program Service Revenue | $0 |
| Investment income | $2,414 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,616,150 |
| 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 | $1,341,472 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,772 |
| Compensation of current officers, directors, key employees. | $30,532 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $327,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,590 |
| Payroll taxes | $38,500 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,136 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,583 |
| Advertising and promotion | $4,679 |
| Office expenses | $18,602 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,162 |
| Travel | $21,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,533 |
| Insurance | $9,674 |
| All other expenses | $5,963 |
| Total functional expenses | $2,118,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,125,349 |
| Savings and temporary cash investments | $935,653 |
| Pledges and grants receivable | $898,717 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,194 |
| Investments—publicly traded securities | $26,169 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,250 |
| Total assets | $2,995,332 |
| Accounts payable and accrued expenses | $24,551 |
| Grants payable | $166,419 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $190,970 |
| Unrestricted restricted net Assets | $2,146,581 |
| Temporarily restricted net Assets | $657,781 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $2,804,362 |