Hearthside Inc

Nonprofit profile at a glance

EIN
621319490
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Lebanon, TN, USA
Phone
6154431994
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,044,510
Expenses
$1,870,361
Assets
$9,745,477
Liabilities
$3,951,963

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • GEORGE CHATFIELD (PRESIDENT)
  • JAY MORRIS (VICE PRESIDENT)

Highest reported compensation

  • CHRISTOPHER DOZIER (KEY EMPLOYEE): $128,741 total reported compensation
  • SARAH JOHNSTON (KEY EMPLOYEE): $50,837 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide assisted living and housing for the elderly

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.9%; rating input score 54
  • Program expense ratio: 60.6%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.5%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 5.21; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 53.9% of revenue deployed · 60.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $129K · 12 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.