Warm Hearth Inc
- Assets
- $13.6m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 448
- Location
- Blacksburg, VA
- Founding
- 05/1974
- Data as of
- 09/2023
- 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 09/2023, Warm Hearth Inc employed 448 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 09/2023, Warm Hearth Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $2.9m during the year ending 09/2023. While expenses have increased by 6.7% per year over the past 8 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
2023
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 |
|---|---|---|---|
Katherine Allen Director | Trustee | 3.5 | $0 |
Allan Bookout Director | Trustee | 3.5 | $0 |
Tara French Director | Trustee | 3.5 | $0 |
Charles Johnson Director | Trustee | 3.5 | $0 |
Hing-Har Lo Secretary | Trustee | 3.5 | $0 |
Tommy Mcdeearis Director | Trustee | 3.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Functional Pathways Therapeutic Services | 9/29/20 | $259,634 |
B & E Home Repair & Renovation Llc Renovation | 9/29/20 | $102,592 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $34,308 |
| Government grants | $2,911,177 |
| 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 | $2,945,485 |
| Total Program Service Revenue | $2,091,559 |
| Investment income | $45,808 |
| 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 | $5,082,852 |
| 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. | $337,693 |
| Compensation of current officers, directors, key employees. | $151,962 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $787,717 |
| Pension plan accruals and contributions | $57,723 |
| Other employee benefits | $328,002 |
| Payroll taxes | $161,919 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,306 |
| Fees for services: Accounting | $86,617 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,148 |
| Advertising and promotion | $16,265 |
| Office expenses | $75,256 |
| Information technology | $47,698 |
| Royalties | $0 |
| Occupancy | $82,853 |
| Travel | $8,168 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,885 |
| Interest | $155,766 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $413,895 |
| Insurance | $26,700 |
| All other expenses | $2,978 |
| Total functional expenses | $2,930,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,007 |
| Savings and temporary cash investments | $941,195 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$391 |
| 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 | $186,217 |
| Net Land, buildings, and equipment | $7,941,751 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,374,412 |
| Total assets | $13,558,191 |
| Accounts payable and accrued expenses | $205,521 |
| Grants payable | $0 |
| Deferred revenue | $826,999 |
| 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 | $4,144,492 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,784,367 |
| Total liabilities | $9,961,379 |
| Net assets without donor restrictions | $3,596,812 |
| 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 | $13,558,191 |