Skip to the page content
Your donations
Passes our checks

Hearts Foundation Inc

EIN 16-1607748 · Buffalo, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair50 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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

Income
$3.2 million
Spending
$2.8 million
Spent on programs
79%
Reserves
-4.5 months of spending
Largest source of income
donations and private grants, 74%
Employees
0
Volunteers
23
Highest pay
$163,000, ceo and president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 50 out of 100. Higher than 28% of charities in its peer group (education, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    5 of 20

    It owes 69% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 13% of income.

  • Income trend

    15 of 15

    Income rose 24% on the year before.

  • Spending floor

    15 of 15

    79% of spending went to programs and raising each dollar of donations cost 6 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 63% of charities in its peer group (education, $1m to $10m).

  • Independent board

    25 of 25

    5 of 6 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $2.2 million spent. 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.
  2. 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.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 2001.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

  7. Could it be confused with another charity? Worth knowing.

    A much larger organization has a similar name: Foundation Health LLC (Fairbanks, AK), EIN 81-3021580. If that is the one you meant, check the EIN before giving.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.