Hearthstone Senior Communities Inc

Analysis

Hearthstone Senior Communities Inc is a registered charity in United States, based in Bala Cynwyd, PA. It received its IRS tax-exemption ruling in January 2000, 26 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Hearthstone Senior Communities Inc reported income of $92.9m and spending of $93.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $84.9m to $92.9m (+9.4%), an average of +2.3% a year. Over the whole period it spent 107% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hearthstone Senior Communities Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include Indiana Organ Procurement Organization Inc ($92.8m), Casa Colina Hospital and Centers for Healthcare ($92.9m) and Washington University Physicians in Illinois Inc ($92.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.4% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $152k (0.2% of expenses). Other salaries and wages came to $38.8m. At year end it held assets of $133.8m against liabilities of $138.1m, net assets of -$4.3m. It reported 1,466 employees.

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.