The Heart Foundation
- Assets
- $7.7m
- Revenue
- $1.1m
- Investments
- $5.5m
- Employees
- 0
- Location
- Westlake Village, CA
- Founding
- 05/2002
- Data as of
- 06/2022
- EIN
- 45-0471117
Organization Overview
The Heart Foundation is located in Westlake Village, CA. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heart Foundation 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, Heart Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (10.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Heart Foundation has awarded 16 individual grants totaling $3,043,306. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HEART FOUNDATION GRANTED $600,000 TO SMIDT HEART INSTITUTE AT CEDARS-SINAI MEDICAL CENTER TO FUND HEART DISEASE RESEARCH TAKING PLACE IN THE P.K. SHAH LABORATORY FOR IMPROVED METHODS OF PREVENTION, DETECTION, AND TREATMENT.
THE HEART FOUNDATION EDUCATES THE PUBLIC AND INCREASES AWARENESS OF HEART DISEASE AS THE #1 CAUSE OF DEATH FOR BOTH WOMEN AND MEN IN THE UNITED STATES THROUGH OUR WEBSITE, SOCIAL MEDIA POSTS, EDUCATIONAL VIDEOS, AND ONLINE INTERVIEWS WITH MEDICAL PROFESSIONALS AND HEART HEALTH ADVOCATES. THE HEART FOUNDATION HAS OVER 40,000 FOLLOWERS ON OUR SOCIAL MEDIA CHANNELS, AND COUNLESS MORE VISIT OUR WEBSITE AND VIEW OUR POSTS AND VIDEOS ALL OVER THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Litman Chairman | 10 | $0 | |
Mark Sapiro Treasurer | 1 | $0 | |
Gerald Cohen Secretary | 1 | $0 | |
Eva Weingarten Board Member | 1 | $0 | |
Brian Weinhart Board Member | 1 | $0 | |
Lisa Sapiro Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $634,426 |
| Interest on Savings | $7,772 |
| Dividends & Interest | $122,290 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $192,059 |
| Capital Gain Net Income | $192,059 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $264 |
| Other Income | $137,185 |
| Total Revenue | $1,093,996 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $83,137 |
| Other employee salaries and wages | $85,058 |
| Pension plans, employee benefits | $17,201 |
| Interest | $0 |
| Taxes | $140 |
| Depreciation | $463 |
| Occupancy | $18,247 |
| Travel, conferences, and meetings | $110 |
| Printing and publications | $1,735 |
| Other expenses | $251,723 |
| Total operating and administrative expenses | $509,996 |
| Contributions, gifts, grants paid | $605,000 |
| Total expenses and disbursements | $1,114,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,565 |
| Savings and temporary cash investments | $2,086,190 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $14,104 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,204 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,215,745 |
| Net Land, buildings, and equipment | $425 |
| Other assets | $4,120 |
| Total assets | $7,683,562 |
| Accounts payable and accrued expenses | $13,215 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,215 |
Grants Awarded
Over the last fiscal year, The Heart Foundation has awarded $605,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CEDARS SINAI MEDICAL CENTER PURPOSE: HEART DISEASE RESEARCH | $600,000 |
WEINGART CENTER ASSOCIATION PURPOSE: FUNDS PROVIDE HOMELESS INDIVIDUALS WITH THE BASIC TOOLS NECESSARY TO STABILIZE THEIR LIVES, SECURE INCOME, AND FIND PERMANENT HOUSING. | $5,000 |