Heart Brothers Foundation Inc
- Assets
- $63.2k
- Revenue
- $417.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Northborough, MA
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 46-3534947
Organization Overview
Heart Brothers Foundation Inc is located in Northborough, MA. The organization was established in 2014. According to its NTEE Classification (G43) the organization is classified as: Heart & Circulatory System Diseases & Disorders, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heart Brothers 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 12/2023, Heart Brothers Foundation Inc generated $417.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.9% each year . All expenses for the organization totaled $423.2k during the year ending 12/2023. While expenses have increased by 25.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BRING RESOURCES TOGETHER TO HELP PATIENTS AND THEIR LOVED ONES SURVIVE A LIFE WITH HEART COMPLICATIONS AND ALL ITS CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HEART BROTHERS FOUNDATION IS A NON-PROFIT WHO PROVIDES ESSENTIAL SUPPORT TO HEART COMPLICATION PATIENTS AND THEIR FAMILIES BY DISTRIBUTING FINANCIAL AID, MEDICATION ASSISTANCE, EDUCATIONAL WORKSHOPS AND EMOTIONAL SUPPORT TO ENSURE THE PATIENTS HAVE ACCESS TO NECESSARY TREATMENTS AND LIVING ESSENTIALS. THE HEART BROTHERS FOUNDATION RAISES AWARENESS THROUGH COMMUNITY OUTREACH PROGRAMS WHICH PRIORITIZES EDUCATING INDIVIDUALS ABOUT HEART COMPLICATIONS, PROMOTING EARLY DETECTION AND ENCOURAGING PREVENTATIVE MEASURES. OVERALL, THE HEART BROTHERS FOUNDATION COMPREHENSIVE SERVICE SIGNIFICANTLY IMPROVES THE WELL-BEING OF HEART FAILURE PATIENTS AND RAISED AWARENESS WITHIN MULTIPLE COMMUNITIES.
THE HEART BROTHERS FOUNDATION'S RENTAL PROGRAM PROVIDES TEMPORARY HOUSING FOR HEART COMPLICATION PATIENTS AND THEIR FAMILIES UNDERGOING TREATMENT FAR FROM HOME. THIS PROGRAM OFFERS A SAFE, COMFORTABLE, AND FULLY FURNISHED LIVING SPACE, ALLEVIATING THE FINANCIAL BURDEN AND STRESS ASSOCIATED WITH LONG-TERM HOSPITAL STAYS. THIS ESSENTIAL SERVICE ENSURES THAT PATIENTS CAN FOCUS ON THEIR RECOVERY WHILE MAINTAINING CLOSE PROXIMITY TO THEIR HEALTHCARE PROVIDERS, SIGNIFICANTLY ENHANCING THEIR OVERALL TREATMENT EXPERIENCE AND WELL-BEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick J Sullivan President | OfficerTrustee | 30 | $52,200 |
Susan J Romer Clerk | OfficerTrustee | 2 | $31,412 |
Michael Ashworth Director | Trustee | 6 | $0 |
David Denofrio Director | Trustee | 1 | $0 |
Robert D Romer Treasurer | OfficerTrustee | 30 | $0 |
Leslie Ann Sullivan Director | Trustee | 2 | $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 | $295,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $295,250 |
| Total Program Service Revenue | $36,383 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $85,848 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $417,481 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $81,120 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,612 |
| Compensation of current officers, directors, key employees. | $43,400 |
| 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 | $15,867 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,537 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,045 |
| Advertising and promotion | $51,608 |
| Office expenses | $1,015 |
| Information technology | $1,625 |
| Royalties | $0 |
| Occupancy | $59,397 |
| Travel | $2,892 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,750 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66 |
| Insurance | $3,428 |
| All other expenses | $2,003 |
| Total functional expenses | $423,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,857 |
| 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 | $0 |
| Net Land, buildings, and equipment | $310 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $63,167 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $63,167 |
| 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 | $63,167 |