The Open Hearth Association

Analysis

The Open Hearth Association is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in April 1935, 91 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Open Hearth Association reported income of $2.6m and spending of $3.0m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $2.6m (+22%), an average of +5.0% a year. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Open Hearth Association sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within CT. Charities of a similar size with the same main cause include San Benito County Community Services Development Corporation ($2.6m), West Chicago Preservation Corp ($2.6m) and Cahec Properties Corporation ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 4.6% of the total. Compensation of current officers, directors and key employees was $259k (8.6% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $4.5m against liabilities of $636k, net assets of $3.8m. It reported 39 employees.