Health Care (E19) IRS Verified DX Registered 990 on File

MATTHEW F SULLIVAN HANDS FOR HEARTS INC

EIN: 47-1579180 · GREENSBORO, NC 27410-8371 · United States · FY 2023 Data

3 out of 5 53 / 100 Based on 2+ years of filings

Financial strength (30%) 76/100

Reliability (20%) 50/100

Effectiveness (25%) 83/100

Impact (25%) No data yet

Financial data: FY 2023 · Scored 9/13/2026

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Mission Statement

Since its creation in 1996, the goal of The Children’s Heart Foundation has been to bring health, hope and happiness to children impacted by congenital heart defects. They accomplish this goal by funding the most promising research that advances the diagnosis, treatment and prevention of congenital heart defects. Hands for Hearts is proud to partner with The Children’s Heart Foundation. Since 1996, The Children’s Heart Foundation has funded over $7.4 million to 62 basic science, translational and clinical CHD research projects at leading research centers across the US and Canada. The Children’s Heart Foundation is a national 501(c)(3) tax¬exempt charitable organization. The goal of the foundation is to bring health, hope and happiness to children and families impacted by congenital heart defects, the most common birth defect in the United States. This objective is accomplished by funding the most promising research to advance the diagnosis, treatment and prevention of congenital heart defects. Due to dramatic advances made through research over the past 10 years, death rates for congenital heart defects have declined by almost 30%. Funding Research is Funding Life!

Financial Overview — FY 2023

$314K

Total Revenue

$101K

Total Expenses

$216K

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 98.6%

Fundraising Efficiency 0.0%

Operating Reserve 25.57x

Liability-to-Asset 0.0%

Revenue Diversification 110.1%

Compared with Peers

FY 2023

Compared with 6,416 similar organizations (United States, Health Care, $100K–$1M in expenses), FY 2023.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	98.6%	84.9%	P10P90	Top quarter
Admin expense ratio Management and general / total expenses · lower is better	1.4%	11.3%	P10P90	Top quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	0.0%	0.0%	P10P90	Top quarter
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	0.0%	14.3%	P10P90	Top quarter
Operating reserve Months of expenses covered by net assets · higher is better	25.6 mo	13.8 mo	P10P90	Above median
Liabilities to assets Total liabilities / total assets · lower is better	0.0%	1.4%	P10P90	Top quarter
Revenue concentration Share of revenue from the largest source · lower is better	110.1%	94.7%	P10P90	Bottom quarter
Revenue growth Year over year revenue growth	483.0%	6.3%	P10P90
Expense growth Year over year expense growth	-16.6%	10.8%	P10P90
Surplus margin Surplus as a share of revenue	67.7%	3.3%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %
2023	$314K	$101K	$216K	98.6%
2022	$54K	$122K	$20K	98.9%
2021	$69K	$104K	N/A	—

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Organization Details

EIN: 47-1579180
State: NC
City: GREENSBORO
ZIP: 27410-8371
Classification: E19
Category: Health Care
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 2014
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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