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
