HEARTS FOR HOMES
EIN: 20-4637974
Mission
Improving the living conditions of low-income senior homeowners, age 60 and older, in Denton County, Texas.
Ruling year
2014
Founder & Executive Director
Susan Frank
Main address
826 East McKinney Street
Denton, TX 76209 USA
EIN
20-4637974
Housing rehabilitation
Home repairs
Population served
Seniors
NTEE code
Home Improvement/Repairs (L81)
Housing Rehabilitation (L25)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Programs and results
What we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
No Cost Home Repairs
Hearts for Homes is a largely volunteer organization, which holds frequent project work days. Repairs on homes range from yard clean-ups to house painting to plumbing repairs to electrical repairs to roofing repairs. Hearts for Homes coordinates skilled and unskilled volunteers as well as various business partners who work together to make necessary home repairs for qualified seniors in need in order to afford needy, elderly homeowners a well-functioning and comfortable home in which to age in place.
Where we work
External reviews
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2021 info
31.89
Months of cash in 2021 info
11.6
Fringe rate in 2021 info
8%
Funding sources info
Assets & liabilities info
HEARTS FOR HOMES
Revenue & expensesFiscal Year: Jan 01 - Dec 31
SOURCE: IRS Form 990
HEARTS FOR HOMES
Balance sheetFiscal Year: Jan 01 - Dec 31
SOURCE: IRS Form 990
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
SOURCE: IRS Form 990
This snapshot of HEARTS FOR HOMES’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
| Profitability info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $96,217 | $4,727 | -$3,755 | $40,879 | $72,566 |
| As % of expenses | 49.5% | 1.5% | -1.0% | 11.8% | 20.6% |
| Unrestricted surplus (deficit) after depreciation | $86,964 | -$4,004 | -$12,791 | $28,865 | $61,917 |
| As % of expenses | 42.7% | -1.3% | -3.4% | 8.0% | 17.1% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $265,556 | $314,314 | $376,460 | $361,101 | $439,525 |
| Total revenue, % change over prior year | 1.8% | 18.4% | 19.8% | -4.1% | 21.7% |
| Program services revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.0% | 0.1% | 0.1% | 0.0% | 0.0% |
| Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| All other grants and contributions | 100.0% | 99.9% | 99.4% | 99.0% | 99.9% |
| Other revenue | 0.0% | 0.0% | 0.5% | 0.9% | 0.1% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $194,509 | $309,587 | $365,215 | $347,222 | $352,379 |
| Total expenses, % change over prior year | 28.5% | 59.2% | 18.0% | -4.9% | 1.5% |
| Personnel | 29.4% | 32.7% | 34.2% | 47.2% | 39.1% |
| Professional fees | 1.6% | 0.6% | 1.9% | 2.3% | 2.5% |
| Occupancy | 15.9% | 12.0% | 10.9% | 11.5% | 12.5% |
| Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Pass-through | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| All other expenses | 53.2% | 54.8% | 53.0% | 39.0% | 45.9% |
| Full cost components (estimated) info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $203,762 | $318,318 | $374,251 | $359,236 | $363,028 |
| One month of savings | $16,209 | $25,799 | $30,435 | $28,935 | $29,365 |
| Debt principal payment | $0 | $0 | $0 | $0 | $0 |
| Fixed asset additions | $9,309 | $9,758 | $0 | $26,610 | $0 |
| Total full costs (estimated) | $229,280 | $353,875 | $404,686 | $414,781 | $392,393 |
Capital structure indicators
| Liquidity info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Months of cash | 15.6 | 9.5 | 8.7 | 8.8 | 11.6 |
| Months of cash and investments | 15.6 | 9.5 | 8.7 | 8.8 | 11.6 |
| Months of estimated liquid unrestricted net assets | 15.4 | 9.5 | 7.9 | 8.8 | 11.2 |
| Balance sheet composition info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Cash | $253,276 | $245,982 | $263,893 | $254,967 | $340,266 |
| Investments | $0 | $0 | $0 | $0 | $0 |
| Receivables | $0 | $0 | $0 | $0 | $550 |
| Gross land, buildings, equipment (LBE) | $97,690 | $107,448 | $107,448 | $129,782 | $130,412 |
| Accumulated depreciation (as a % of LBE) | 64.5% | 66.7% | 75.1% | 68.2% | 76.0% |
| Liabilities (as a % of assets) | 2.1% | 1.3% | 3.2% | 4.4% | 2.7% |
| Unrestricted net assets | $284,936 | $280,932 | $268,141 | $297,006 | $358,923 |
| Temporarily restricted net assets | $20,000 | $20,000 | N/A | N/A | N/A |
| Permanently restricted net assets | $0 | $0 | N/A | N/A | N/A |
| Total restricted net assets | $20,000 | $20,000 | $35,000 | $8,000 | $22,580 |
| Total net assets | $304,936 | $300,932 | $303,141 | $305,006 | $381,503 |
Key data checks
| Key data checks info | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Founder & Executive Director
Susan Frank
Susan Frank is the founder and full-time director of Hearts for Homes. As a step of obedience and faith, she left her position at Liberty Christian School in Argyle, Texas, where she had been employed for many years. Susan has a servant's heart and a natural bent for home remodeling/repair. Those giftings and her love for people are vital to this ministry. Susan is married to Larry, and has two adult children and five grandchildren. She attends Lifegate Church in Denton, Texas.
Number of employees
Source: IRS Form 990
HEARTS FOR HOMES
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
HEARTS FOR HOMES
Board of directorsas of 05/11/2023
Board of directors data
Mr. Brett Walford
Fisher59 Properties
Term: 2023 - 2025
Janet Shelton
CPA, Southern Stretch Forming
Susan Frank
Founder & Executive Director, Hearts for Homes
Mike Vance
DATCU Credit Union
Donna Raney
AgeUcate
Lisa Cave
Branch Manager, Point Bank
Don Armstrong
Consultant
Barbara Ingraham
H4H client
Andy Braack
Community Loan Officer, First United Bank
Ron Strelke
Owner, Force Home Services
Sam Williamson
Assistant Director of Assessment, University of North Texas
Brett Walford
President, Fisher59 Properties
Teresa Starrett
Retired Educator
Jeff Bennett
Owner, Access Overhead Door
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
-
Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? No
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 05/11/2023GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
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- Financial statements for 2021, 2020, 2019, 2017
- Letter of Determination
- Officer and/or Employee data for 2021, 2020, 2019, 2018, 2017
- Contractor and/or Paid Preparer data for 2021, 2020, 2019
- Board of Directors data for 2023
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