Hearth Inc

Analysis

Hearth Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 1994, 32 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 December 2022, Hearth Inc reported income of $223k and spending of $228k, spending 102% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $133k to $223k (+67%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hearth Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 59th percentile within MA. Charities of a similar size with the same main cause include Garden Way Housing Inc ($223k), Clearwater Residential Inc ($223k) and Home Again Inc ($222k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $21k. At year end it held assets of $990k against liabilities of $1.6m, net assets of -$618k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.