Statement of Activities – Hearts & Hope Foundation
H&H

Statement of Activities

Hearts & Hope Foundation

Period Ending
December 31, 2024
Statement Type
Audited
Fiscal Year
2024

Financial Highlights

$2,847,932
Total Revenue
$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
CONTRIBUTIONS AND GRANTS
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
PROGRAM SERVICE REVENUE
Workshop Fees $45,230 $0 $45,230
Contract Services $67,840 $0 $67,840
Total Program Service Revenue $113,070 $0 $113,070
OTHER REVENUE
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
PROGRAM SERVICES
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
SUPPORTING SERVICES
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

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