Hearts For Hearing Foundation
- Assets
- $24.5m
- Revenue
- $13.0m
- Investments
- $0.0
- Employees
- 137
- Location
- Oklahoma City, OK
- Founding
- 09/2004
- Data as of
- 06/2023
- EIN
- 58-2670613
Organization Overview
Hearts For Hearing Foundation is located in Oklahoma City, OK. The organization was established in 2004. According to its NTEE Classification (P87) the organization is classified as: Deaf & Hearing Impaired Centers, under the broad grouping of Human Services and related organizations. As of 06/2023, Hearts For Hearing Foundation employed 137 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hearts For Hearing 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 06/2023, Hearts For Hearing Foundation generated $13.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $13.6m during the year ending 06/2023. 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
HEARTS FOR HEARING CREATES LIFE-CHANGING OPPORTUNITIES FOR CHILDREN AND ADULTS WITH HEARING LOSS TO LISTEN FOR A LIFETIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEARTS FOR HEARING CREATES LIFE-CHANGING OPPORTUNITIES FOR CHILDREN AND ADULTS WITH HEARING LOSS TO LISTEN FOR A LIFETIME, PROVIDING COMPREHENSIVE HEARING HEALTHCARE TO CHILDREN AND ADULTS. IN ADDITION TO THE NEWBORN HEARING SCREENING DONE IN HOSPITALS AND THE DIAGNOSIS OF HEARING LOSS IN BABIES SHORTLY AFTER BIRTH, WE PROVIDE THE FIRST SET OF HEARING AIDS TO EVERY CHILD IN OKLAHOMA UNDER THE AGE OF 18 AT NO COST TO THE FAMILY. IN ADDITION TO THE FITTING OF HEARING AIDS AND REMOTE MICROPHONE TECHNOLOGY, WE ARE A COMPREHENSIVE COCHLEAR IMPLANT CENTER FOR CHILDREN AND ADULTS AND OFFER COCHLEAR IMPLANT MAPPING,LISTENING AND SPOKEN LANGUAGE SERVICES (LSL), "BRIDGES" GROUP THERAPY AND COMMUNITY HEARING SCREENING PROGRAMS. HEARTS FOR HEARING ALSO CONTRIBUTES TO THE KNOWLEDGE BASE WORLDWIDE IN THE FIELD OF HEARING AID AND COCHLEAR IMPLANT TECHNOLOGY THROUGH A ROBUST RESEARCH INITIATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jace Wolfe Employee | 40 | $290,788 | |
Joanna T Smith Chief Exec O | Officer | 40 | $186,313 |
Robert G Wood Employee | 40 | $155,289 | |
Esther H Kim Employee | 40 | $152,310 | |
Hartford Watkins Employee | 40 | $148,928 | |
Kristin Hopper Employee | 40 | $148,064 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Smith Pickel Construction Inc Const Contracto | 6/29/17 | $7,901,712 |
Presidio It | 6/29/17 | $126,148 |
Bockus Payne Associates Architect | 6/29/17 | $102,695 |
Trans-tel Central It | 6/29/17 | $119,827 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,700,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,810,626 |
| Noncash contributions included in lines 1a–1f | $200,729 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,510,961 |
| Total Program Service Revenue | $7,304,182 |
| Investment income | $248,836 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,375 |
| Net Gain/Loss on Asset Sales | -$170,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,952,511 |
| 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. | $575,472 |
| Compensation of current officers, directors, key employees. | $28,684 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,395,725 |
| Pension plan accruals and contributions | $190,036 |
| Other employee benefits | $741,203 |
| Payroll taxes | $605,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,936 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $188,404 |
| Advertising and promotion | $281,362 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $406,567 |
| 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 | $720,631 |
| Insurance | $0 |
| All other expenses | $115,088 |
| Total functional expenses | $13,631,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,259,784 |
| Savings and temporary cash investments | $2,450,251 |
| Pledges and grants receivable | $284,000 |
| Accounts receivable, net | $993,127 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $68,047 |
| Prepaid expenses and deferred charges | $131,933 |
| Net Land, buildings, and equipment | $10,975,750 |
| Investments—publicly traded securities | $6,601,044 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $768,668 |
| Total assets | $24,532,604 |
| Accounts payable and accrued expenses | $1,018,311 |
| Grants payable | $0 |
| Deferred revenue | $257,500 |
| 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 | $63,766 |
| Total liabilities | $1,339,577 |
| Net assets without donor restrictions | $16,222,402 |
| Net assets with donor restrictions | $6,970,625 |
| 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 | $24,532,604 |