Warm Hearth Inc
- Assets
- $10.8m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 469
- Location
- Blacksburg, VA
- Founding
- 05/1974
- Data as of
- 09/2021
- EIN
- 23-7378013
Organization Overview
Warm Hearth Inc is located in Blacksburg, VA. The organization was established in 1974. 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 09/2021, Warm Hearth Inc employed 469 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Warm 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 09/2021, Warm Hearth Inc generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $2.0m during the year ending 09/2021. While expenses have increased by 2.0% per year over the past 6 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
THE CORPORATION PROVIDES SUPERVISION, MANAGEMENT AND DEVELOPMENT SERVICES TO A SENIORS HOUSING COMMUNITY WHICH IS OPERATED BY 501(C)(3) AND 501(C)(4) ORGANIZATIONS AND PROVIDES HOUSING TO APPROXIMATELY 500 ELDERLY AND HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES SUPERVISION, MANAGEMENT AND DEVELOPMENT SERVICES TO A SENIORS HOUSING COMMUNITY WHICH IS OPERATED BY 501(C)(3) AND 501(C)(4) ORGANIZATIONS AND PROVIDES HOUSING TO APPROXIMATELY 500 ELDERLY AND HANDICAPPED PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Price Vice Chairman | OfficerTrustee | 0.5 | $0 |
Ed Spencer Chair | OfficerTrustee | 0.5 | $0 |
Jason Pospichal Vice Chairman/treasurer | OfficerTrustee | 0.5 | $0 |
Hing-Har Lo Secretary | OfficerTrustee | 0.5 | $0 |
Ferne Moschella Former President / CEO | Officer | 38 | $0 |
Molly Nevitt CFO | Officer | 38 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
B & E Home Repair & Renovation Llc Renovation | 9/29/20 | $102,592 |
Functional Pathways Therapeutic Services | 9/29/20 | $259,634 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $68,877 |
| Government grants | $2,088,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,157,677 |
| Total Program Service Revenue | $1,678,386 |
| Investment income | $1,591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,955 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,031,102 |
| 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. | $373,023 |
| Compensation of current officers, directors, key employees. | $167,860 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $396,006 |
| Pension plan accruals and contributions | $11,589 |
| Other employee benefits | $117,276 |
| Payroll taxes | $58,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,034 |
| Fees for services: Accounting | $38,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,230 |
| Advertising and promotion | $25,183 |
| Office expenses | $48,783 |
| Information technology | $10,560 |
| Royalties | $0 |
| Occupancy | $98,106 |
| Travel | $32,539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $925 |
| Interest | $170,270 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $366,381 |
| Insurance | $24,963 |
| All other expenses | $30,355 |
| Total functional expenses | $1,975,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200,280 |
| Savings and temporary cash investments | $1,607,212 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,070 |
| 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 | $113,370 |
| Net Land, buildings, and equipment | $8,146,465 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $717,529 |
| Total assets | $10,786,926 |
| Accounts payable and accrued expenses | $164,571 |
| Grants payable | $0 |
| Deferred revenue | $817,769 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,576,080 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,662,266 |
| Total liabilities | $9,220,686 |
| Net assets without donor restrictions | $1,566,240 |
| Net assets with donor restrictions | $0 |
| 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 | $10,786,926 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Warm Hearth Inc has recieved totaling $6,104.
| Awarding Organization | Amount |
|---|---|
Trolinger Trust Orlando, FL PURPOSE: GENERAL OPERATING | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $104 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
National Lutheran Inc Frederick, MD | $5,736,572 | $7,111,650 |
Transitional Housing Corporation Washington, DC | $11,247,775 | $11,673,050 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Redwood Housing Inc North Bethesda, MD | $20,814,666 | $9,748,902 |
Housing Partnership Inc Louisville, KY | $43,644,315 | $10,025,390 |