Immaculate Heart Community
- Assets
- $78.4m
- Revenue
- $6.5m
- Investments
- $60.3m
- Employees
- 24
- Location
- Los Angeles, CA
- Founding
- 09/1972
- Data as of
- 12/2023
- EIN
- 95-2706764
Organization Overview
Immaculate Heart Community is located in Los Angeles, CA. The organization was established in 1972. 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. As of 12/2023, Immaculate Heart Community employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Immaculate Heart Community 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, Immaculate Heart Community generated $6.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $31.5m during the year ending 12/2023. 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
SEEKS TO STRATEGICALLY CHANGE PRACTICES AND SITUATIONS THROUGH ART, EDUCATION, SPIRITUALITY, AND SOCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDING MEMBERS IS A PROGRAM OF THE IMMACULATE HEART COMMUNITY THAT FULFILLS ITS MISSION BY PROVIDING THE FORMERLY CANONICAL COMMUNITY MEMBERS WITH A PLACE TO BUILD COMMUNITY, FOSTER SPIRITUAL GROWTH, AND PROVIDE RESIDENT OPPORTUNITIES FOR EDUCATION, RECREATION, SERVICE TO OTHERS AND SPECIAL HELP FOR THOSE IN NEED.
THE CORITA ART CENTER EXHIBITS AND CURATES EXHIBITIONS OF LUMINARY CONTEMPORARY ARTIST, CORITA KENT'S ORIGINAL WORK. IT COLLABORATES LOCALLY AND GLOBALLY WITH LEADING ACADEMIC AND ELITE ART INSTITUTES TO LEND, RESEARCH AND SHOWCASE KENT'S WORK, SELL ORIGINAL EDITIONS, AS WELL AS PRINT AND LICENSE KENT'S ARTWORK FOR PRODUCTION OF EXCLUSIVE MERCHANDISE. THE CORITA ART CENTER BECAME A SEPARATE 501(C)(3) IN JULY 2023.
THE CENTER FOR SPIRITUAL RENEWAL AND LA CASA DE MARIA'S MISSION IS TO BE A SANCTUARY OF PEACE TO RENEW PURPOSE, STRENGTHEN COMMUNITY, AND INCREASE THEIR EFFECTIVENESS IN THE WORLD. THIS IS DONE THROUGH GROUP PROGRAMMING, INDIVIDUAL RETREATS AND SPIRITUAL DIRECTION. IN 2018, THE CENTER PROPERTY IN SANTA BARBARA COUNTY WAS DAMAGED BY A FIRE AND A SUBSEQUENT DEBRIS FLOW. THE COMMUNITY HAS RECOVERED SIGNIFICANT AMOUNTS FROM INSURANCE AND OTHER SETTLEMENTS AND IS CURRENTLY PERFORMING A FEASIBILITY STUDY TO EVALUATE FUTURE PROSPECTS FOR THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Purcell President | OfficerTrustee | 40 | $161,827 |
Christine Monroe Vice President | OfficerTrustee | 40 | $117,548 |
Ray Mattes Chair | OfficerTrustee | 4 | $0 |
Mary Becker Vice Chair | OfficerTrustee | 4 | $0 |
Mary Kirchen Treasurer | OfficerTrustee | 4 | $0 |
Stephanie Glatt Secretary | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Armanino Llp Accounting | 12/30/23 | $179,829 |
Adler & Colvin Legal | 12/30/23 | $131,290 |
Tynangroup Llc Real Estate | 12/30/23 | $708,669 |
The Atteberry Group Inc Information Technology | 12/30/23 | $110,630 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $114,694 |
| All other contributions, gifts, grants, and similar amounts not included above | $933,429 |
| Noncash contributions included in lines 1a–1f | $59,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,048,123 |
| Total Program Service Revenue | $5,782 |
| Investment income | $2,097,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $59,459 |
| Net Rental Income | $45,350 |
| Net Gain/Loss on Asset Sales | $3,227,828 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,524,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,312,195 |
| 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 | $1,568,813 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $238,661 |
| Payroll taxes | $0 |
| Fees for services: Management | $278,538 |
| Fees for services: Legal | $290,738 |
| Fees for services: Accounting | $221,211 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $104,301 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,050 |
| Office expenses | $97,615 |
| Information technology | $167,561 |
| Royalties | $0 |
| Occupancy | $463,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,154 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $208,267 |
| Insurance | $148,460 |
| All other expenses | $9,490 |
| Total functional expenses | $31,549,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,679 |
| Savings and temporary cash investments | $1,081,457 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,826 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,750,443 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $210,034 |
| Net Land, buildings, and equipment | $6,624,343 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $60,275,482 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $78,443,264 |
| Accounts payable and accrued expenses | $402,828 |
| Grants payable | $25,800,070 |
| 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 | $26,202,898 |
| Net assets without donor restrictions | $52,160,255 |
| Net assets with donor restrictions | $80,111 |
| 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 | $78,443,264 |
Grants Awarded
Over the last fiscal year, Immaculate Heart Community has awarded $26,800,195 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CORITA ART CENTER PURPOSE: OPERATIONS | $4,696,966 |
LA CASA DE MARIA PURPOSE: REBUILD | $22,103,229 |