Michael Wolk Heart Foundation Inc
- Assets
- $2.7m
- Revenue
- $597.1k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/1987
- Data as of
- 08/2021
- EIN
- 13-3409988
Organization Overview
Michael Wolk Heart Foundation Inc is located in New York, NY. The organization was established in 1987. According to its NTEE Classification (H43) the organization is classified as: Heart & Circulatory System Diseases & Disorders Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael Wolk Heart Foundation 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 08/2021, Michael Wolk Heart Foundation Inc generated $597.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $469.6k during the year ending 08/2021. While expenses have increased by 24.6% 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.
Since 2015, Michael Wolk Heart Foundation Inc has awarded 94 individual grants totaling $1,196,421. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RESEARCH
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE PROVIDED FOR RESEARCH PROJECTS TO ADVANCE SCIENTIFIC, MEDICAL AND SOCIAL WELFARE KNOWLEDGE IN THE FIELD OF CARDIOVASCULAR MEDICINE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abby Wolk Board Member | Trustee | 2 | $2,500 |
Richard Glazer Treasurer | OfficerTrustee | 1 | $0 |
Michael Wolk President | OfficerTrustee | 1 | $0 |
Robert Wolk Vice President | OfficerTrustee | 1 | $0 |
Edward Bramson Board Member | Trustee | 1 | $0 |
Michel Araten Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $212,165 |
| Noncash contributions included in lines 1a–1f | $24,220 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,165 |
| Total Program Service Revenue | $0 |
| Investment income | $30,640 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $354,260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $597,065 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $421,032 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,977 |
| Fees for services: Other | $2,500 |
| Advertising and promotion | $0 |
| Office expenses | $541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,648 |
| All other expenses | $0 |
| Total functional expenses | $469,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,161 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $1,247 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,234,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,881 |
| Total assets | $2,664,426 |
| Accounts payable and accrued expenses | $88,576 |
| 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 | $24 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $237,856 |
| Total liabilities | $326,456 |
| Net assets without donor restrictions | $2,337,970 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,664,426 |
Grants Awarded
Over the last fiscal year, Michael Wolk Heart Foundation Inc has awarded $421,032 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Hamilton, NY PURPOSE: TO SUPPORT THE MIND, BRAIN AND BEHAVIOR INIATIVE | $396,932 |
Ithaca, NY PURPOSE: TO SUPPORT THE STEPHEN SCHEIDT MEMORIAL LECTURE IN CARDIOLOGY | $10,000 |
East Hampton, NY PURPOSE: TO IMPROVE CARE FOR UNINSURED AND UNDERSERVED | $10,000 |
Tenafly, NJ PURPOSE: TO SPONSOR RESEARCH AND DEVELOPMENT TO DIAGNOSE AND PREVENT HEART DISEASE AND ASSIST IN TRAINING SCIENTISTS, EDUCATORS, AND PHYSICIANS | $1,000 |
Fort Lauderdale, FL PURPOSE: SUPPORT FELLOWSHIP PROGRAMS IN THE UNITED STATES | $1,000 |
New York, NY PURPOSE: TO SUPPORT THE ACCESS TO AFFORDABLE HEALTH CARE FOR OLDER ADULTS AND PEOPLE WITH DISABILITIES THROUGH COUNSELING AND ADVOCACY, EDUCATIONAL PROGRAMS, AND PUBLIC POLICY INITIATIVES. | $600 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Michael Wolk Heart Foundation Inc has recieved totaling $48,005.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $15,000 |
Charlton Foundation Inc Vero Beach, FL PURPOSE: UNRESTRICTED | $10,000 |
Peter & Caroline Striano Foundation Inc new york, NY PURPOSE: CHARITABLE CONTRIBUTION | $10,000 |
Hermione Foundation New York, NY PURPOSE: TO FURTHER RECIPIENTS' PUBLICLY STATED OBJECTIVES | $5,000 |
Miller Khoshkish Foundation Tr New York, NY PURPOSE: MEDICAL RESEARCH | $5,000 |
Jeannette Barron Charitable Tr White Plains, NY PURPOSE: FOR USE BY THE DONEES FOR THE PURPOSE FOR WHICH THEY DETERMINE | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcorps Inc New York, NY | $4,691,358 | $4,849,417 |
Cardiovascular Medical Research And Education Fund Inc Philadelphia, PA | $1,947,304 | $35,647 |
National Blood Clot Alliance Philadelphia, PA | $381,860 | $938,995 |
Rosenfeld Heart Foundation Inc Rye Brook, NY | $5,611,862 | $1,550,628 |
Heart Institute Of Southern New Moorestown, NJ | $7,720,548 | $711,924 |
International Society For Minimally Invasive Cardiac Surgery Beverly, MA | $896,368 | $627,772 |
Michael Wolk Heart Foundation Inc New York, NY | $2,664,426 | $597,065 |
Pulmonary Wellness Foundation Inc New York, NY | $75,369 | $282,317 |
Staten Island Heart Society Inc Staten Island, NY | $17,432 | $289,472 |
American Cardio Vascular Research Foundation Inc New York, NY | $309,604 | $80,608 |
Cardiology Associates Foundation New York, NY | $261,215 | $75,165 |
Delaware Valley Sts Quality Improvement Initiative West Chester, PA | $73,238 | $0 |