Hearthstone Senior Communities Inc

Nonprofit profile at a glance

EIN
232856813
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bala Cynwyd, PA, USA
Phone
2153466454
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$100,712,066
Expenses
$100,468,980
Assets
$129,726,195
Liabilities
$133,808,236

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

Leadership & pay

10 people listed

Executive titles in this filing

  • HOWARD JAFFE (President)

Highest reported compensation

  • ASHLEY M KORAH (ADMINISTRATOR): $225,848 total reported compensation
  • SARAH L GRIMES (RN SUPERVISOR): $205,608 total reported compensation
  • FATIMA DOWNEY (LICENSED PRACTICAL NURSE): $200,467 total reported compensation

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

Overview

Mission

The mission of hearthstone senior communities, inc. Includes operation of one or more nursing homes, provision of housing for the elderly, development of medical programs for the care of the elderly and education of healthcare personnel in the proper care of the elderly.

What it reported doing in 2024

The organization operates 8 skilled nursing facilities, with a combined capacity of 960 beds, dedicated and committed to providing rehabilitation and short and long term nursing and medical care of patients and residents. The organization provides numerous activities and programs incorporating and promoting family activities and involvement with residents and staff. These activities promote a normalized environment. During the current year, there were 315,165 resident days.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating 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

MIXED - A large share of available resources goes toward mission work. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 56
  • Accountability: 42
  • Sustainability: 38
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 86.8%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th 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: 0.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 1.03; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 86.8% of spending went to programs
  • Governance: 0 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $87.2M in reported program spending
  • Leadership: top reported pay $226K · 10 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $19.8M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 11 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.