Heartbeet Lifesharing Corporation
- Assets
- $6.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 36
- Location
- Hardwick, VT
- Founding
- 04/2002
- Data as of
- 06/2022
- 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 06/2022, Heartbeet Lifesharing Corporation employed 36 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 06/2022, Heartbeet Lifesharing Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 4.8% per year over the past 7 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
2022
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 THERAPY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcianna Morse Secretary/trustee | OfficerTrustee | 40 | $19,091 |
Jaime Walker Trustee | Trustee | 40 | $17,879 |
Eric Tidblom Finance Director/trustee | OfficerTrustee | 40 | $17,098 |
Annie Jackson Trustee | Trustee | 1 | $0 |
Jerry Schwartz Trustee/president | OfficerTrustee | 3 | $0 |
Joshua Carpenter Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $99,828 |
| All other contributions, gifts, grants, and similar amounts not included above | $204,220 |
| Noncash contributions included in lines 1a–1f | $6,655 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,048 |
| Total Program Service Revenue | $1,207,360 |
| Investment income | $2,498 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,725 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $443 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,534,022 |
| 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. | $67,330 |
| Compensation of current officers, directors, key employees. | $32,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $295,548 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,613 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $139,335 |
| Fees for services: Accounting | $57,927 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,320 |
| Advertising and promotion | $14,259 |
| Office expenses | $10,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $240,290 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $331 |
| Interest | $20,256 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $151,837 |
| Insurance | $47,842 |
| All other expenses | $62,323 |
| Total functional expenses | $1,250,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $751,897 |
| Savings and temporary cash investments | $1,029,513 |
| Pledges and grants receivable | $750 |
| Accounts receivable, net | $89,579 |
| 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 | $30,243 |
| Net Land, buildings, and equipment | $4,427,914 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $6,380,396 |
| Accounts payable and accrued expenses | $44,277 |
| 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 | $992,331 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,360 |
| Total liabilities | $1,064,968 |
| Net assets without donor restrictions | $5,310,295 |
| Net assets with donor restrictions | $5,133 |
| 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 | $6,380,396 |