Hearth Homes of Waterbury Inc

Analysis

Hearth Homes of Waterbury Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in May 2011, 15 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 2023, Hearth Homes of Waterbury Inc reported income of $541k and spending of $875k, spending 162% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $504k to $541k (+7.3%), an average of +2.4% a year. Over the whole period it spent 161% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hearth Homes of Waterbury Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include Lima Ecumenical Housing Corp ($541k), Aurora Project ($541k) and Cedar Lane Senior Living Community III Inc ($541k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $83k. At year end it held assets of $10.0m against liabilities of $46k, net assets of $9.9m.

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.