Financial Highlights
$2,691,445
Total Expenses
$156,487
Change in Net Assets
$1,234,567
Net Assets End of Year
Revenue and Support
Revenue Source |
Without Donor Restrictions |
With Donor Restrictions |
Total |
Individual Donations |
$1,245,680 |
$312,450 |
$1,558,130 |
Foundation Grants |
$485,920 |
$262,872 |
$748,792 |
Corporate Sponsorships |
$187,340 |
$0 |
$187,340 |
Government Grants |
$89,650 |
$45,800 |
$135,450 |
Total Contributions and Grants |
$2,008,590 |
$621,122 |
$2,629,712 |
Workshop Fees |
$45,230 |
$0 |
$45,230 |
Contract Services |
$67,840 |
$0 |
$67,840 |
Total Program Service Revenue |
$113,070 |
$0 |
$113,070 |
Investment Income |
$78,450 |
$12,300 |
$90,750 |
Fundraising Events (Net) |
$14,400 |
$0 |
$14,400 |
Total Other Revenue |
$92,850 |
$12,300 |
$105,150 |
Net Assets Released from Restrictions |
$523,245 |
($523,245) |
$0 |
TOTAL REVENUE AND SUPPORT |
$2,737,755 |
$110,177 |
$2,847,932 |
Expenses
Expense Category |
Program Services |
Management & General |
Fundraising |
Total |
Community Outreach Programs |
$1,245,680 |
$0 |
$0 |
$1,245,680 |
Education & Training |
$567,890 |
$0 |
$0 |
$567,890 |
Emergency Assistance |
$334,120 |
$0 |
$0 |
$334,120 |
Total Program Services |
$2,147,690 |
$0 |
$0 |
$2,147,690 |
Management and General |
$0 |
$325,445 |
$0 |
$325,445 |
Fundraising |
$0 |
$0 |
$218,310 |
$218,310 |
Total Supporting Services |
$0 |
$325,445 |
$218,310 |
$543,755 |
TOTAL EXPENSES |
$2,147,690 |
$325,445 |
$218,310 |
$2,691,445 |
Change in Net Assets
Description |
Without Donor Restrictions |
With Donor Restrictions |
Total |
Change in Net Assets |
$46,310 |
$110,177 |
$156,487 |
Net Assets at Beginning of Year |
$823,450 |
$254,630 |
$1,078,080 |
NET ASSETS AT END OF YEAR |
$869,760 |
$364,807 |
$1,234,567 |
Understanding the Statement of Activities
The Statement of Activities shows how Hearts & Hope Foundation’s financial position changed during 2024. Unlike for-profit income statements, nonprofits must track resources with and without donor restrictions. The organization had a positive change in net assets of $156,487, indicating healthy financial performance with total revenues exceeding expenses.
Key Financial Ratios & Analysis
- Program Expense Ratio: 79.8% (Program expenses ÷ Total expenses) – Excellent efficiency
- Fundraising Efficiency: 8.1% (Fundraising expenses ÷ Total expenses) – Within healthy range
- Revenue Growth: Strong diversified revenue base with multiple funding streams
- Net Asset Growth: 14.5% increase demonstrates organizational sustainability