Hearth Inc

Nonprofit profile at a glance

EIN
043206820
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Boston, MA, USA
Phone
6173691550
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$5,634,438
Expenses
$6,091,072
Assets
$7,772,645
Liabilities
$2,509,014

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • RHONDA PIERONI (PRES. & CEO)

Highest reported compensation

  • RHONDA PIERONI (PRES. & CEO): $215,490 total reported compensation
  • ANDREW COLE (VP OF FINANCE): $173,809 total reported compensation
  • LINDA VENDOLA (CONTROLLER): $127,593 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hearth, inc. (hearth) is a nonprofit organization dedicated to the elimination of homelessness among the elderly. This mission is accomplished through a blend of prevention, placement, and housing programs all designed to help elders find and succeed in homes of their own. To this end, the housing provides supportive social and health services which assist residents to age with dignity, regardless of their medical, mental health, or social needs. These goals are best accomplished through respect for elders and staff, so that all can achieve their highest degree of potential.

What it reported doing in 2025

Supportive housing-as of fy 2025, hearth operates 228 units of permanent supportive housing and assisted living residences 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, health services, and social services. Individual service plans are created to fit the unique needs of each resident, allowing even frail elders to live with independence. Hearth has an extensive housing service team, which includes, but is not limited to: nurses, social workers, program managers, personal care homemakers, activities coordinators, substance abuse specialists, and resident service coordinators.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 76
  • Accountability: 97
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76%; rating input score 76
  • Program expense ratio: 66.4%; rating input score 66
  • Fundraising efficiency: $8.16 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 95.2%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.1%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.28; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 10.5%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 76% of revenue deployed · 66.4% of spending went to programs
  • Governance: 20 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $4M in reported program spending
  • Leadership: top reported pay $215K · 26 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • High — Sustainability: Operating margin scored 11/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.