Warm Hearth INC FY2022 filing

Tax-deductible

Blacksburg, VA501(c)(3)Since 1974HousingEIN 23-7378013Revenue $2.1M in FY2022

On file with the IRSretire.org2607 Warm Hearth Dr Ste 100, 24060-6247 · Blacksburg, VATax-exempt since May 1974Publicly supported charity — 170(b)(1)(A)(vi)

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Our mission is to foster a person-centered approach to aging in an inclusive environment that redefines retirement. Our vision is to nurture a transformative culture where people live and work in community, knowing their contributions are essential to our success.

501(c)(3) charity; gifts are tax-deductible.
61¢ of each $1 spent went to programs.
$738K 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

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $557K a year · 18% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$738K
to officers and key staff · 33% of spending
Concern: pay to officers and key staff is 33% of spending; over 30%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $40K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.4M
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
-47% vs prior year
Spent
$2.3M
To programs
61%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$2.1M
FY2022▼ -47%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$4.0M
FY2022$2.1M
FY2023$5.1M
FY2024$2.9M
FY2025$3.0M
Expenses
$2.3M
FY2022▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.1M
FY2021$2.0M
FY2022$2.3M
FY2023$2.9M
FY2024$3.0M
FY2025$3.2M
Net assets
$1.4M
FY2022▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020−$489K
FY2021$1.6M
FY2022$1.4M
FY2023$3.6M
FY2024$3.5M
FY2025$3.3M

From the FY2022 Form 990 (year ending September 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1974.

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

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $1.4M Management & general 39% · $868K

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

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Who runs it and what they're paid

23 people listed on the 990; $738K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$168,773Pt VII · Sec A
Vice-President
$128,255Pt VII · Sec A
$118,303Pt VII · Sec A
Nursing Home Admin
$116,370Pt VII · Sec A
Director of Marketing
$106,528Pt VII · Sec A
Director of Qa & Edu
$100,250Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

William Lester’s $200K as President and CEO is at the 87th 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

NameFY2025FY2024FY2023FY2022FY2020
William Lester$199,560$185,761———
Ferne Moschella————$179,982
Brad Dalton——$143,229$168,773—
Molly Nevitt$154,380$148,246$127,688$118,303$42,750
Heather Gearheart———$128,255—
Heather Gearhart——$105,613—$124,423
Tambra Dixon$123,507$120,181$110,451$106,528$109,818
William Jones$119,899————

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

Manages and develops housing for about 500 elderly and handicapped individuals.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2021
01

The corporation provides supervision, management and development services to a seniors housing community which is operated by 501(c)(3) and 501(c)(4) organizations and provides housing to approximately 500 elderly and handicapped persons.

$1.4Mprogram expense

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 2 funders$40K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$1.9M
Other incomeLn 4–11$180K
Gifts and grantsLn 1h$14K
Money outPt IX
$2.3M
Ln 25
Programscol B$1.4M
Managementcol C$868K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$9.8M
LiabilitiesLn 26$8.4M
PeoplePt VI, VII
23
listed · VII A
PaidVII A6
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14K
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$490
Other incomeLn 4–11$180K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$112K
SavingsLn 2$1.1M
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$8.0M
Other assetsLn 15$512K
Total assetsLn 16$9.8M
LiabilitiesLn 26$8.4M
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 5479
VolunteersI 6200
Fiscal year endsHeaderSeptember
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 FY22End FY22
Cash and savingsLn 1–2$1.8M$1.2M
Land, buildings, equipmentLn 10c$8.1M$8.0M
Total assetsLn 16$10.8M$9.8M
LiabilitiesLn 26$9.2M$8.4M
Net assetsLn 32$1.6M$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$288K$158K$130K
Other salaries and wagesLn 7$598K$261K$337K
Pension plan contributionsLn 8$12K$6K$6K
Other employee benefitsLn 9$139K$66K$73K
Payroll taxesLn 10$64K$30K$34K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$49K$49K
Other fees for servicesLn 11g$41K$7K$34K
Advertising and promotionLn 12$17K$17K
Office expensesLn 13$81K$18K$63K
Information technologyLn 14$11K$11K
OccupancyLn 16$79K$68K$11K
TravelLn 17$55K$54K$1K
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$157K$157K
Depreciation, depletion and amortizationLn 22$405K$405K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$196K$121K$75K
All other expensesLn 24e$30K$9K$21K
Total functional expensesLn 25$2.3M$1.4M$868K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.0M$3.2M−$190K$3.3M 990 PDF
FY2024 $2.9M$3.0M−$85K$3.5M 990 PDF
FY2023 $5.1M$2.9M$2.2M$3.6M 990 PDF
FY2022 Viewing $2.1M$2.3M−$122K$1.4M 990 PDF
FY2021 $4.0M$2.0M$2.1M$1.6M 990 PDF
FY2020 $1.6M$2.1M−$471K−$489K 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 FY2022 990 (6 parts)
Part I · Summary $2,131,943 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,157,677$13,578
I-9 Program service revenuePrior year $1,678,386$1,938,256
I-10 Investment incomePrior year $25,546$490
I-11 Other revenuePrior year $169,493$179,619
I-12 Total revenuePrior year $4,031,102$2,131,943
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $956,402$1,101,199
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,019,132$1,152,570
I-18 Total expensesPrior year $1,975,534$2,253,769
I-19 Revenue less expensesPrior year $2,055,568−$121,826
Part VI · Governance 17 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,131,943 across 5 lines filed
Lines not itemized here account for $179,619 of total revenue; see the IRS return.
VIII-1d Related organizations$13,578
VIII-1h Total contributions, gifts and grants$13,578
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,938,256$1,938,256
VIII-3 Investment incomeExcluded from tax $490$490
VIII-12 Total revenueRelated to mission $1,938,256 · Unrelated business $0 · Excluded from tax $180,109$2,131,943
Part IX · Statement of functional expenses $2,253,769 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $158,327 · Management $129,540$287,867
IX-7 Other salaries and wagesPrograms $261,159 · Management $336,539$597,698
IX-8 Pension plan contributionsPrograms $5,789 · Management $6,433$12,222
IX-9 Other employee benefitsPrograms $65,980 · Management $73,309$139,289
IX-10 Payroll taxesPrograms $30,375 · Management $33,748$64,123
IX-11b Legal feesManagement $1,975$1,975
IX-11c Accounting feesManagement $49,497$49,497
IX-11g Other fees for servicesPrograms $7,090 · Management $33,840$40,930
IX-12 Advertising and promotionManagement $17,163$17,163
IX-13 Office expensesPrograms $17,916 · Management $62,936$80,852
IX-14 Information technologyManagement $10,560$10,560
IX-16 OccupancyPrograms $68,216 · Management $11,011$79,227
IX-17 TravelPrograms $53,526 · Management $1,294$54,820
IX-19 Conferences, conventions and meetingsManagement $4,364$4,364
IX-20 InterestPrograms $157,384$157,384
IX-22 Depreciation, depletion and amortizationPrograms $404,594$404,594
IX-23 InsurancePrograms $24,996$24,996
IX-24 Other expenses (24a–d)Programs $121,083 · Management $74,981$196,064
IX-24e All other expensesPrograms $8,864 · Management $21,280$30,144
IX-25 Total functional expensesPrograms $1,385,299 · Management $868,470 · Fundraising $0$2,253,769
Part X · Balance sheet $9,848,371 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $200,280$112,043
X-2 Savings and temporary cash investmentsStart of year $1,607,212$1,115,537
X-4 Accounts receivableStart of year $2,070−$798
X-9 Prepaid expenses and deferred chargesStart of year $113,370$138,443
X-10c Land, buildings and equipment, netStart of year $8,146,465$7,971,146
X-15 Other assetsStart of year $717,529$512,000
X-16 Total assetsStart of year $10,786,926$9,848,371
X-17 Accounts payable and accrued expensesStart of year $164,571$199,241
X-19 Deferred revenueStart of year $817,769$834,365
X-25 Other liabilitiesStart of year $3,662,266$3,012,371
X-26 Total liabilitiesStart of year $9,220,686$8,403,957
X-27 Net assets without donor restrictionsStart of year $1,566,240$1,444,414
X-32 Total net assets or fund balancesStart of year $1,566,240$1,444,414
X-33 Total liabilities and net assetsStart of year $10,786,926$9,848,371
Part XI · Reconciliation of net assets $1,444,414 net assets at year end
XI-1 Total revenue$2,131,943
XI-2 Total expenses$2,253,769
XI-3 Revenue less expenses−$121,826
XI-4 Net assets at start of year$1,566,240
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,444,414

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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