Nonprofit · EIN 85-1282127
HEARTWORKS INC
Tax-exempt · ROCHESTER, MN 55901
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $12,089,091 | $8,357,690 | $3,731,401 | $6,872,451 | $28,375 | $6,844,076 |
| December 31, 2023 | 990-PF | $8,360,311 | $6,431,659 | $1,928,652 | $3,130,188 | $17,513 | $3,112,675 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $12,136,698
- Interest
- $467
- Net gain from sales of assets
- -$50,362
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $2,429,179
- Disbursements for charitable purposes
- $8,314,425
Balance sheet and other
- Total assets, start of year
- $3,130,188
- Total assets, end of year
- $6,872,451
- Total liabilities, end of year
- $28,375
- Net assets, end of year
- $6,844,076
- Fair market value of assets
- $6,872,451
- Qualifying distributions
- $8,314,425
- Net investment income
- $467
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-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| AMY DESHLER 2309 MEADOWCREEK DR, DURHAM, NC 27705 | MANAGER Highest-paid employee | 40 | $399,530 |
| JARETT ANDERSON 2433 TEE TIME ROAD SE, ROCHESTER, MN 55904 | MANAGER Highest-paid employee | 40 | $220,000 |
| ADAM ARMSTRONG 5401 DUVALL STREET NW, ROCHESTER, MN 55901 | MANAGER Highest-paid employee | 40 | $145,000 |
| MICHAEL LAI 2129 N 115TH STREET, SEATTLE, WA 98133 | MANAGER Highest-paid employee | 40 | $141,923 |
| MICHAEL GRILLO 3113 TOWNVIEW AVE NE, MINNEAPOLIS, MN 55418 | MANAGER Highest-paid employee | 40 | $139,999 |
| MATTHEW A NELSON 14200 8TH STREET, OSSEO, WI 54758 | PRESIDENT | 2 | $0 |
| TIMOTHY NELSON 2104 FOLWELL RIDGE STREET SW, ROCHESTER, MN 55902 | CHAIRMAN | 2 | $0 |
| TOWNSEND PORTER 600 BIRDIE LANE, LONGBOAT KEY, FL 34228 | DIRECTOR | 2 | $0 |
990-PF for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| AMY DESHLER 2309 MEADOWCREEK DR, DURHAM, NC 27705 | MANAGER Highest-paid employee | 40 | $238,692 |
| JARETT ANDERSON 2433 TEE TIME ROAD SE, ROCHESTER, MN 55904 | MANAGER Highest-paid employee | 40 | $220,000 |
| MICHAEL GRILLO 3113 TOWNVIEW AVE NE, MINNEAPOLIS, MN 55418 | MANAGER Highest-paid employee | 40 | $140,000 |
| ADAM ARMSTRONG 5401 DUVALL STREET NW, ROCHESTER, MN 55901 | MANAGER Highest-paid employee | 40 | $136,731 |
| MINHWANG CHANG 1012 HICKORY LN SW, ROCHESTER, MN 55902 | MANAGER Highest-paid employee | 40 | $124,500 |
| MATTHEW A NELSON 14200 8TH STREET, OSSEO, WI 54758 | PRESIDENT | 2 | $0 |
| TIMOTHY NELSON 2104 FOLWELL RIDGE STREET SW, ROCHESTER, MN 55902 | CHAIRMAN | 2 | $0 |
| TOWNSEND PORTER 600 BIRDIE LANE, LONGBOAT KEY, FL 34228 | DIRECTOR | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 3033 41ST ST NW STE 200, ROCHESTER, MN 55901-7047
- In care of
- % MATTHEW A NELSON
- Signed the 990-PF
- MATTHEW A NELSON, PRESIDENT
- Phone
- (715) 379-0293
- Website
- WWW.HEARTWORKSINC.ORG
- Return prepared by
- SMITH SCHAFER AND ASSOC LTD
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. 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-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 85-1282127
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private operating foundation
- Donations deductible (Pub 78)
- Private operating foundation, 50% limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Health care (E60)
- Assets (IRS master file)
- $6,872,451
- Income (IRS master file)
- $13,802,155
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $12,089,091 | $8,357,690 | $6,872,451 | XML |
| 990-PF | December 2023 | $8,360,311 | $6,431,659 | $3,130,188 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | 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 85-1282127).
Questions about HEARTWORKS INC
- What is the EIN of HEARTWORKS INC?
- The employer identification number (EIN) of HEARTWORKS INC is 85-1282127.
- Is HEARTWORKS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to HEARTWORKS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private operating foundation, 50% limit).
- Which annual return does HEARTWORKS INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of HEARTWORKS 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 HEARTWORKS INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of HEARTWORKS INC?
- The 990-PF for the year ended December 31, 2024 lists 8 people; 5 received compensation from the organization, the highest $399,530 (AMY DESHLER, MANAGER).
- How much revenue does HEARTWORKS INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $12,089,091, expenses of $8,357,690 and total assets of $6,872,451 at year end.
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