HEARTH INC
Mission Statement
At Hearth, Inc., we believe that every senior deserves a safe, stable home and the support needed to age with dignity. We are dedicated to eliminating elder homelessness by providing permanent, affordable housing, comprehensive care management services, and homelessness prevention programs for those at risk of losing their homes. Many of our residents have faced the trauma of homelessness and now live on extremely limited incomes, often relying solely on Social Security or Disability benefits. At Hearth, they don’t just find housing—they find a lifeline. Our team of on-site nurses, home health aides, and care managers work to ensure their health, stability, and well-being, while our prevention programs provide critical support to seniors on the brink of homelessness, helping them stay housed and secure. Beyond housing and healthcare, we recognize that social connection is essential. Our programs provide opportunities for engagement, from community outings to cultural events, ensuring our residents stay active, connected, and supported.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
63.9% | 87.2% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
31.0% | 10.3% |
P10P90
|
Bottom quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
5.1% | 0.0% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
1611.4% | 236.3% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
10.9 mo | 12.6 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
40.4% | 39.0% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
54.1% | 89.9% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
-15.8% | 6.4% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-37.6% | 3.0% |
P10P90
|
Impact
1 program| Outcome / Program | People Served | Cost / Service | # Completed | Duration |
|---|---|---|---|---|
| Housed, rent assistance, prevention | 467 | $100.00 | — | Per Day |
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $4.6M | $6.3M | $5.7M | 63.9% | 124 |
| 2023 | $5.4M | N/A | N/A | — | 97 |
| 2022 | $3.8M | $5.3M | $7.8M | 63.5% | 109 |
| 2021 | $7.9M | $8.1M | $10.5M | 82.2% | 101 |
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