Hearthstone Housing Foundation

Analysis

Hearthstone Housing Foundation is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in April 1997, 29 years ago. 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 2023, Hearthstone Housing Foundation reported income of $2.0m and spending of $1.5m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.3m to $2.0m (-13%), an average of -3.3% a year. The sharpest change came in the year to December 2021, when income dropped by 22%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hearthstone Housing Foundation 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 86th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include C P a C ($2.0m), Dallas Life Inc ($2.0m) and The Law Foundation of the University of Missouri-Kansas City ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $528k (36% of expenses). Other salaries and wages came to $289k. At year end it held assets of $47.8m against liabilities of $42.5m, net assets of $5.3m. It reported 5 employees.