Hearth Inc
- Assets
- $12.8m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 101
- Location
- Boston, MA
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 04-3206820
Organization Overview
Hearth Inc is located in Boston, MA. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Hearth Inc employed 101 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Hearth Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hearth Inc generated $7.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $8.1m during the year ending 12/2021. While expenses have increased by 12.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HEARTH, INC. (HEARTH) IS A NONPROFIT ORGANIZATION DEDICATED TO THE ELIMINATION OF HOMELESSNESS AMONG THE ELDERLY. THIS MISSION IS ACCOMPLISHED THROUGH A UNIQUE BLEND OF PREVENTION, PLACEMENT, AND HOUSING PROGRAMS ALL DESIGNED TO HELP ELDERS FIND AND SUCCEED IN HOMES OF THEIR OWN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTIVE HOUSING -AS OF FY 2021, HEARTH OPERATES 228 UNITS OF PERMANENT SUPPORTIVE HOUSING AT 7 GREATER BOSTON LOCATIONS. HEARTH IS COMMITTED TO PLACING ELDERS IN SERVICED-ENRICHED HOUSING, PROMOTING SELF-SUFFICIENCY BY PROVIDING OR CONNECTING ELDERS WITH SERVICES THEY REQUIRE, INCLUDING, BUT NOT LIMITED TO: MENTAL HEALTH SERVICES, HEALTH SERVICES, AND SOCIAL SERVICES. INDIVIDUAL SERVICE PLANS ARE CREATED TO FIT THE UNIQUE NEEDS OF EACH RESIDENT, ALLOWING EVEN FRAIL ELDERS TO LIVE WITH INDEPENDENCE. HEARTH HAS AN EXTENSIVE HOUSING SERVICE TEAM, WHICH INCLUDES, BUT IS NOT LIMITED TO: NURSES, SOCIAL WORKERS, PROGRAM MANAGERS, PERSONAL CARE HOMEMAKERS, ACTIVITIES COORDINATORS, SUBSTANCE ABUSE SPECIALISTS, AND RESIDENT SERVICE COORDINATORS.
OUTREACH -HEARTH'S OUTREACH PROGRAM PROVIDES A COMPREHENSIVE SET OF SERVICES TO HOMELESS AND AT-RISK ELDERS TO HELP THEM RE-ESTABLISH THEIR LIVES WITHIN PERMANENT AND AFFORDABLE HOUSING IN AND AROUND THE CITY OF BOSTON. THE PROGRAM FOCUSES ON CONNECTION; HOUSING SEARCH & CASE MANAGEMENT; PLACEMENT AND STABILIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark D Hinderlie President & CEO | OfficerTrustee | 38 | $169,096 |
Theresa Perkins Former CFO | Officer | 38 | $122,819 |
Rhonda Pieroni Chief Administration Officer | 39 | $101,313 | |
Linda Vendola Controller | 39 | $100,888 | |
Gregory Manousos Treasurer | OfficerTrustee | 2 | $0 |
Douglass Poutasse Vice-Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,074,138 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,543,194 |
| Noncash contributions included in lines 1a–1f | $33,861 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,617,332 |
| Total Program Service Revenue | $2,662,311 |
| Investment income | $109,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,949,326 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $296,944 |
| Compensation of current officers, directors, key employees. | $243,631 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,825,543 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $228,010 |
| Payroll taxes | $261,903 |
| Fees for services: Management | $65,832 |
| Fees for services: Legal | $16,504 |
| Fees for services: Accounting | $73,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,337 |
| Fees for services: Other | $90,111 |
| Advertising and promotion | $1,337 |
| Office expenses | $198,150 |
| Information technology | $90,251 |
| Royalties | $0 |
| Occupancy | $150,244 |
| Travel | $16,084 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,376 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,814 |
| Insurance | $49,866 |
| All other expenses | $63,434 |
| Total functional expenses | $8,081,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,488 |
| Savings and temporary cash investments | $1,617,430 |
| Pledges and grants receivable | $228,796 |
| Accounts receivable, net | $509,255 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $87,327 |
| Net Land, buildings, and equipment | $2,137,756 |
| Investments—publicly traded securities | $6,280,945 |
| Investments—other securities | $0 |
| Investments—program-related | $51,942 |
| Intangible assets | $0 |
| Other assets | $1,800,226 |
| Total assets | $12,790,165 |
| Accounts payable and accrued expenses | $406,751 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $121,401 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,337,850 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $416,918 |
| Total liabilities | $2,282,920 |
| Net assets without donor restrictions | $9,571,804 |
| Net assets with donor restrictions | $935,441 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,790,165 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hearth Inc has recieved totaling $94,783.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $73,533 |
American Endowment Foundation Hudson, OH PURPOSE: HOUSING, SHELTER | $21,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |