Nonprofit · EIN 16-1607748
HEARTS FOUNDATION INC
Also known as HEART THRIFT SHOP
Tax-exempt · BUFFALO, NY 14223
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 (amended) | $3,220,345 | $2,794,302 | $426,043 | $4,381,447 | $3,018,130 | $1,363,317 |
| December 31, 2023 | 990 (amended) | $2,715,627 | $2,556,621 | $159,006 | $3,863,978 | $2,926,704 | $937,274 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,369,742
- Program service revenue
- $0
- Investment income
- $9,923
- Net rental income
- -$19,633
- Net income from sales of inventory
- $860,313
- Other revenue
- $840,680
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $178,285
- Other salaries and wages
- $1,415,817
- Salaries, compensation and benefits (total)
- $1,646,319
- Professional fundraising fees
- $0
- Legal fees
- $87
- Accounting fees
- $6,950
- Occupancy
- $243,553
- Travel
- $211,432
- Depreciation
- $172,732
- Program services (functional)
- $2,203,886
- Management and general (functional)
- $448,850
- Fundraising (functional)
- $141,566
Balance sheet and other
- Total assets, start of year
- $3,863,978
- Total assets, end of year
- $4,381,447
- Total liabilities, end of year
- $3,018,130
- Net assets, end of year
- $1,363,317
- Land, buildings and equipment
- $2,404,507
- Net assets without donor restrictions
- $1,363,317
- Gross unrelated business income
- -$31,312
- Gross receipts
- $5,399,416
- Employees
- 0
- Volunteers
- 23
- Year formed
- 2003
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NICHOLAS M CALANDRA | CEO AND PRESIDENT Officer | 25 | $163,000 |
| RICHARD R IZZO | MEMBER Trustee or director | 1 | $0 |
| DAVID J NORTON | MEMBER Trustee or director | 1 | $0 |
| SUMMER HANDZLIK | MEMBER Trustee or director | 0 | $0 |
| JOSEPH P HATCH III | MEMBER AND SECRETARY Trustee or director, Officer | 1 | $0 |
| FRANK DIMARIA | MEMBER AND TREASURER Trustee or director, Officer | 0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NICHOLAS M CALANDRA | CEO AND PRESIDENT Officer | 25 | $155,232 |
| RICHARD R IZZO | MEMBER Trustee or director | 1 | $0 |
| DAVID J NORTON | MEMBER Trustee or director | 1 | $0 |
| JOSEPH P HATCH III | MEMBER AND SECRETARY Trustee or director | 1 | $0 |
| ERIC JOHNS | CHAIRMAN OF BOARD AND TREASUR Trustee or director, Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 437, BUFFALO, NY 14223-0437
- In care of
- % NICHOLAS CALANDRA
- Signed the 990
- NICHOLAS CALANDRA, PRESIDENT
- Phone
- (716) 877-3536
- Return prepared by
- ALAN JEFF CPA PC
Mission
THE ORGANIZATION OPERATES HEARTS THRIFT STORES AND EXISTS SOLELY TO SUPPORT THE ACTIVITIES AND PURPOSES OF HEARTS FOR THE HOMELESS OF WESTERN NEW YORK INC., A 501C3 ORGANIZATION WHICH PROVIDES PHYSICAL, EMOTIONAL, AND SPIRITUAL RELIEF TO THE HOMELESS, POOR AND DISTRESSED AND
Program accomplishments
- THE ORGANIZATION OPERATES A THRIFT SHOP, WHERE NET RESOURCES ARE USED TO SUPPORT THE ACTIVITIES AND PURPOSES OF HEARTS FOR THE HOMELESS OF WESTERN NEW YORK, INC., AN ORGANIZATION DESCRIBED IN IRC CODE SECTION 501(C)(3), WHICH PROVIDES PHYSICAL, EMOTIONAL, AND SPIRITUAL RELIEF TO THE HOMELESS, POOR, AND DISTRESSED.Expenses $2,203,886 · revenue $2,988,316
- DURING THE YEAR ENDED DECEMBER 31, 2024, THE ORGANIZATION RECORDED $273,051 IN SUPPORT FROM ITS RELATED ENTITY, HEARTS FOR THE HOMELESS OF WESTERN NEW YORK, INC. THIS AMOUNT REPRESENTS A JOURNAL ENTRY TO REFLECT THE TRANSFER OF PROPERTY TO HEARTS FOUNDATION, INC., RATHER THAN A CASH OR CHECK TRANSACTION. THE ENTRY WAS MADE TO PROPERLY RECORD THE CHANGE IN OWNERSHIP BETWEEN RELATED ENTITIES AND SHOULD NOT BE INTERPRETED AS A MONETARY CONTRIBUTION.revenue $273,051
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 16-1607748
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2001
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B11)
- Assets (IRS master file)
- $4,381,447
- Income (IRS master file)
- $5,399,416
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,220,345 | $2,794,302 | $4,381,447 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $2,715,627 | $2,556,621 | $3,863,978 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $2,388,696 | $2,223,568 | $1,717,509 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 16-1607748).
Questions about HEARTS FOUNDATION INC
- What is the EIN of HEARTS FOUNDATION INC?
- The employer identification number (EIN) of HEARTS FOUNDATION INC is 16-1607748.
- Is HEARTS FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to HEARTS FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does HEARTS FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HEARTS FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HEARTS FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of HEARTS FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $163,000 (NICHOLAS M CALANDRA, CEO AND PRESIDENT).
- How much revenue does HEARTS FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,220,345, expenses of $2,794,302 and total assets of $4,381,447 at year end.
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