Hearthway Inc

Analysis

Hearthway Inc is a registered charity in United States, based in Pittsfield, MA. It received its IRS tax-exemption ruling in November 2015, 11 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Hearthway Inc reported income of $3.7m and spending of $3.5m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.7m to $3.7m (+36%), an average of +8.1% a year. The sharpest change came in the year to June 2024, when income rose by 39%. Over the whole period it spent 78% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hearthway Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include Stocktonians Taking Action to Neutralize Drugs ($3.7m), Clairmont Oaks Inc ($3.7m) and Inquilinxs Unidxs Por Justicia-United Renters for Justic ($3.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.0% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $204k (5.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $8.3m against liabilities of $634k, net assets of $7.6m. It reported 90 employees.