Foundation Of The Heart 09-29-2000
- Assets
- $9.1m
- Revenue
- $182.4k
- Investments
- $3.3m
- Employees
- 17
- Location
- Colorado Springs, CO
- Founding
- 02/2001
- Data as of
- 12/2020
- EIN
- 84-1562020
Organization Overview
Foundation Of The Heart 09-29-2000 is located in Colorado Springs, CO. The organization was established in 2001. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Foundation Of The Heart 09-29-2000 employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Of The Heart 09-29-2000 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 12/2020, Foundation Of The Heart 09-29-2000 generated $182.4k 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 (53.4%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
BRINGS PEOPLE AND PARTNER CHURCHES TOGETHER FOR CHRISTIAN WORSHIP THROUGH CONFERENCES, RETREATS AND LITERATURE.
Describe the Organization's Program Activity:
FOUNDATION OF THE HEART CONDUCTS CHRISTIAN WORSHIP, EVANGELISM AND DISCIPLESHIP AT BEAR TRAP RANCH, WHICH IS A 30 ACRE RETREAT AND CONFERENCE CENTER ON UNITED STATES FOREST SERVICE LAND. IN 2020 WE SERVED 4 CHURCHES, 3 NATIONAL AND 1 INTERNATIONAL MINISTRIES, AND 1 YOUTH ORGANIZATION. THESE CHURCHES, MINISTRIES, GROUPS AND ORGANIZATIONS CAME FROM OUR LOCAL COUNTY AND THROUGHOUT THE STATE OF COLORADO.
FACILITATED OPPORTUNITIES FOR INDIVIDUALS TO PROVIDE SUPPORT TO VARIOUS MINISTRY ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vance Brown Chairman | OfficerTrustee | 10 | $0 |
Matthew Dealy CEO And President | OfficerTrustee | 30 | $12,000 |
Pete Gannon Secretary | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $297,211 |
| Investment income | $3,483 |
| 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 | $12,946 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $182,386 |
| Statement of Expenses | |
|---|---|
| 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. | $12,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,018 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $79,570 |
| Payroll taxes | $16,375 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,516 |
| Fees for services: Accounting | $18,335 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,857 |
| Office expenses | $23,794 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,202 |
| Travel | $3,893 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41 |
| Interest | $8 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $148,624 |
| Insurance | $44,195 |
| All other expenses | $0 |
| Total functional expenses | $1,434,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,698,166 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $30,823 |
| Prepaid expenses and deferred charges | $184,926 |
| Investments—publicly traded securities | $2,128 |
| Investments—other securities | $3,298,727 |
| Investments—program-related | $0 |
| Intangible assets | $5,734 |
| Other assets | $0 |
| Total assets | $9,131,237 |
| Accounts payable and accrued expenses | $10,931 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,931 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $9,120,306 |
Grants Awarded
Over the last fiscal year, Foundation Of The Heart 09-29-2000 has awarded $720,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
PARENTS CHALLENGE PURPOSE: TO FURTHER CHRISTIAN MINISTRY | $10,000 |
KINGDOM FOUNDATION PURPOSE: TO FURTHER CHRISTIAN MINISTRY | $10,000 |
ENGINEERING MINISTRIES INTERNATIONAL PURPOSE: TO FURTHER CHRISTIAN MINISTRY | $4,000 |
US OLYMPIC AND PARALYMPIC MUSEUM PURPOSE: TO FURTHER CHRISTIAN MINISTRY | $20,000 |
OAKLEY INTEGRATIVE DEVELOPMENT PURPOSE: TO FURTHER CHRISTIAN MINISTRY | $119,000 |
FORGE EVOLUTION PURPOSE: TO FURTHER CHRISTIAN MINISTRY | $2,500 |