Angelheart Inc
- Assets
- $8.1m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 49
- Location
- Round Rock, TX
- Founding
- 03/2001
- Data as of
- 08/2023
- EIN
- 74-2990336
Organization Overview
Angelheart Inc is located in Round Rock, TX. The organization was established in 2001. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 08/2023, Angelheart Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Angelheart 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 08/2023, Angelheart Inc generated $4.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $4.1m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 4 years. 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 CARE FOR CHILDREN - A TEXAS STATE APPROVED FOSTER CARE AND ADOPTION PLACEMENT SERVICE FOR CHILDREN UNDER THE AGE OF 18 THAT ARE IN FAMILY OR SELF CRISIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVENUES ARE SPENT ENTIRELY ON ADOPTIVE AND FOSTER CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mickey Foster President | Officer | 0 | $0 |
Lisa Williamson Secretary | Officer | 0 | $0 |
Shiela Falco Executive Director | Trustee | 45 | $61,819 |
Lonnie Wendling Board Member | Officer | 0 | $0 |
Meghan Oldis Executive Director | OfficerTrustee | 45 | $85,822 |
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 | $3,011 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,011 |
| Total Program Service Revenue | $4,311,163 |
| Investment income | $5,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $395,960 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,716,605 |
| 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. | $259,510 |
| Compensation of current officers, directors, key employees. | $94,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,182,170 |
| Pension plan accruals and contributions | $19,452 |
| Other employee benefits | $121,682 |
| Payroll taxes | $120,848 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,958 |
| Advertising and promotion | $914 |
| Office expenses | $17,353 |
| Information technology | $42,032 |
| Royalties | $0 |
| Occupancy | $63,394 |
| Travel | $59,032 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $45,992 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,538 |
| Insurance | $85,388 |
| All other expenses | $1,925,683 |
| Total functional expenses | $4,130,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,379,363 |
| Savings and temporary cash investments | $4,647,140 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $317,481 |
| 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 | $1,759,131 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,103,115 |
| Accounts payable and accrued expenses | $113,190 |
| 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 | $1,220,391 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,333,581 |
| Net assets without donor restrictions | $0 |
| 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 | $6,769,534 |
| Total liabilities and net assets/fund balances | $8,103,115 |