Hearth INC FY2021 filing

Tax-deductible

Boston, MA501(c)(3)HousingEIN 04-3206820

Hearth is dedicated to the elimination of homelessness among the elderly. This mission is accomplished through a unique blend of prevention, placement, and housing programs all designed to help elders find and succeed in homes of their own. To this end, all housing operated by hearth provides a creative array of supportive services that assist residents to age with dignity, regardless of their special medical, mental health, or social needs. Hearth believes these goals are best accomplished through respect for elders and staff, with the desire to see both achieve their highest degree of potential.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$494K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $681K a year · 13% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$494K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $222K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2.3M
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 25 voting members
Looks good: 24 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.9M
+46% vs prior year
Spent
$8.1M
To programs
82%
Net assets
$10.5M
By yearFY2020–FY2024
Revenue
$7.9M
FY2021▲ +46%
Revenue by fiscal year
FY2020$5.4M
FY2021$7.9M
FY2022$3.8M
FY2023$5.4M
FY2024$4.6M
Expenses
$8.1M
FY2021▲ +64%
Expenses by fiscal year
FY2020$4.9M
FY2021$8.1M
FY2022$5.3M
FY2023$6.0M
FY2024$6.3M
Net assets
$10.5M
FY2021▲ +23%
Net assets by fiscal year
FY2020$8.5M
FY2021$10.5M
FY2022$7.8M
FY2023$7.4M
FY2024$5.7M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $6.6M Management & general 13% · $1.0M Fundraising 5% · $415K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

28 people listed on the 990; $494K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$169,096Pt VII · Sec A
Former CFO
$122,819Pt VII · Sec A
Chief Administration Officer
$101,313Pt VII · Sec A
Controller
$100,888Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Rhonda Pieroni’s $185K as Pres. & CEO is at the 83rd percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rhonda Pieroni$185,161$131,431$102,364$101,313—
Mark D Hinderlie—$158,790$164,111$169,096$175,600
Bliss Austin-Spooner—$137,921———
Michael Burman$27,758$132,597$37,292——
Theresa Perkins——$43,116$122,819$58,624
Linda Vendola$120,349$111,173$111,419$100,888$107,302
Mary Shields————$113,963
William Porcello————$113,200

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps elderly people find and keep homes through prevention, placement, and supportive housing programs.

Provided by the organization

This section is blank until Hearth INC claims this page.

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2 program services account for $6.6M of program spending, described in the organization's own filed words · FY2021.
01

Supportive housing -as of fy 2021, hearth operates 228 units of permanent supportive housing at 7 greater boston locations. Hearth is committed to placing elders in serviced-enriched housing, promoting self-sufficiency by providing or connecting elders with services they require, including, but not limited to: mental health services…

$5.9Mprogram expense
02

Outreach -hearth's outreach program provides a comprehensive set of services to homeless and at-risk elders to help them re-establish their lives within permanent and affordable housing in and around the city of boston. The program focuses on connection; housing search & case management; placement and stabilization.

$769Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$222K
See all 4 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$7.9M
Ln 12
Gifts and grantsLn 1h$3.6M
Fees for servicesLn 2g$2.7M
Other incomeLn 4–11$1.6M
Money outPt IX
$8.1M
Ln 25
Programscol B$6.6M
Managementcol C$1.0M
Fundraisingcol D$415K
Owns and owesPt X
$10.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$12.8M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
28
listed · VII A
PaidVII A4
Voting boardVI 1a25
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.6M
Government grantsLn 1e$2.1M
Noncash giftsLn 1g$34K
Fees for servicesLn 2g$2.7M
Investment incomeLn 3$110K
Other incomeLn 4–11$1.6M
Total revenueLn 12$7.9M
Assets in detailPt X, end of year
CashLn 1$76K
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$6.3M
Land, buildings, equipmentLn 10c$2.1M
Other assetsLn 15$1.8M
Total assetsLn 16$12.8M
LiabilitiesLn 26$2.3M
Net assetsLn 32$10.5M
OperationsPt I, VI
EmployeesI 5114
VolunteersI 632
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.3M$1.7M
InvestmentsLn 11–13$5.9M$6.3M
Land, buildings, equipmentLn 10c$1.0M$2.1M
Total assetsLn 16$27.6M$12.8M
LiabilitiesLn 26$19.1M$2.3M
Net assetsLn 32$8.5M$10.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$297K$38K$244K$15K
Other salaries and wagesLn 7$2.8M$2.2M$359K$248K
Other employee benefitsLn 9$228K$169K$46K$13K
Payroll taxesLn 10$262K$213K$28K$21K
Management feesLn 11a$66K$66K
Legal feesLn 11b$17K$10K$7K
Accounting feesLn 11c$73K$1K$72K
Investment management feesLn 11f$60K$60K
Other fees for servicesLn 11g$90K$61K$26K$3K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$198K$100K$41K$57K
Information technologyLn 14$90K$43K$19K$28K
OccupancyLn 16$150K$111K$24K$16K
TravelLn 17$16K$11K$5K$514
Conferences, conventions and meetingsLn 19$13K$8K$2K$4K
Depreciation, depletion and amortizationLn 22$70K$69K$1K
InsuranceLn 23$50K$50K
Other expenses (24a–d)Ln 24$3.5M$3.5M$35K$10K
All other expensesLn 24e$63K$63K$488
Total functional expensesLn 25$8.1M$6.6M$1.0M$415K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.6M$6.3M−$1.7M$5.7M 990 PDF
FY2023 $5.4M$6.0M−$621K$7.4M 990 PDF
FY2022 $3.8M$5.3M−$1.4M$7.8M 990 PDF
FY2021 Viewing $7.9M$8.1M−$132K$10.5M 990 PDF
FY2020 $5.4M$4.9M$505K$8.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $7,949,326 across 8 lines filed
VIII-1e Government grants$2,074,138
VIII-1f All other contributions, gifts and grants$1,543,194
VIII-1g Noncash contributions (included above)$33,861
VIII-1h Total contributions, gifts and grants$3,617,332
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,662,311$2,662,311
VIII-3 Investment incomeExcluded from tax $109,683$109,683
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,560,000$1,560,000
VIII-12 Total revenueRelated to mission $4,222,311 · Unrelated business $0 · Excluded from tax $109,683$7,949,326
Part IX · Statement of functional expenses $8,081,015 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $37,911 · Management $243,631 · Fundraising $15,402$296,944
IX-7 Other salaries and wagesPrograms $2,219,168 · Management $358,866 · Fundraising $247,509$2,825,543
IX-9 Other employee benefitsPrograms $168,896 · Management $46,347 · Fundraising $12,767$228,010
IX-10 Payroll taxesPrograms $212,859 · Management $28,285 · Fundraising $20,759$261,903
IX-11a Management feesPrograms $65,832$65,832
IX-11b Legal feesPrograms $9,929 · Management $6,575$16,504
IX-11c Accounting feesPrograms $1,200 · Management $71,985$73,185
IX-11f Investment management feesManagement $60,337$60,337
IX-11g Other fees for servicesPrograms $61,030 · Management $26,323 · Fundraising $2,758$90,111
IX-12 Advertising and promotionFundraising $1,337$1,337
IX-13 Office expensesPrograms $99,882 · Management $40,968 · Fundraising $57,300$198,150
IX-14 Information technologyPrograms $42,980 · Management $19,311 · Fundraising $27,960$90,251
IX-16 OccupancyPrograms $110,511 · Management $24,112 · Fundraising $15,621$150,244
IX-17 TravelPrograms $10,978 · Management $4,592 · Fundraising $514$16,084
IX-19 Conferences, conventions and meetingsPrograms $7,555 · Management $1,852 · Fundraising $3,969$13,376
IX-22 Depreciation, depletion and amortizationPrograms $68,612 · Management $1,202$69,814
IX-23 InsuranceManagement $49,866$49,866
IX-24 Other expenses (24a–d)Programs $3,465,447 · Management $35,090 · Fundraising $9,553$3,510,090
IX-24e All other expensesPrograms $62,946 · Management $488$63,434
IX-25 Total functional expensesPrograms $6,645,736 · Management $1,019,830 · Fundraising $415,449$8,081,015
Part X · Balance sheet $12,790,165 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $1,592,513$76,488
X-2 Savings and temporary cash investmentsStart of year $704,439$1,617,430
X-3 Pledges and grants receivableStart of year $510,561$228,796
X-4 Accounts receivableStart of year $489,095$509,255
X-9 Prepaid expenses and deferred chargesStart of year $92,559$87,327
X-10c Land, buildings and equipment, netStart of year $1,036,230$2,137,756
X-11 Publicly traded securitiesStart of year $5,851,894$6,280,945
X-13 Program-related investmentsStart of year $51,942$51,942
X-15 Other assetsStart of year $17,264,114$1,800,226
X-16 Total assetsStart of year $27,593,347$12,790,165
X-17 Accounts payable and accrued expensesStart of year $3,210,657$406,751
X-25 Other liabilitiesStart of year $1,801,820$416,918
X-26 Total liabilitiesStart of year $19,083,827$2,282,920
X-27 Net assets without donor restrictionsStart of year $6,939,537$9,571,804
X-28 Net assets with donor restrictionsStart of year $1,569,983$935,441
X-32 Total net assets or fund balancesStart of year $8,509,520$10,507,245
X-33 Total liabilities and net assetsStart of year $27,593,347$12,790,165
Part XI · Reconciliation of net assets $10,507,245 net assets at year end
XI-1 Total revenue$7,949,326
XI-2 Total expenses$8,081,015
XI-3 Revenue less expenses−$131,689
XI-4 Net assets at start of year$8,509,520
XI-5 Net unrealized gains (losses) on investments$1,029,414
XI-8 Prior period adjustments$1,100,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,507,245

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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