Open Hearth Inc

Nonprofit profile at a glance

EIN
232652023
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Phoenixville, PA, USA
Phone
6107929282
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Group Homes

Official website

Reported finances

Revenue
$3,003,536
Expenses
$3,141,180
Assets
$3,160,772
Liabilities
$251,127

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KELLY RAGGAZINO (CEO)
  • EDWIN SANTIAGO (President)
  • DAVID SHELLENBERGER (Vice President)

Highest reported compensation

  • KELLY RAGGAZINO (CEO): $166,657 total reported compensation
  • CHRISTINA WHEELER TOWNE (CFO): $122,256 total reported compensation
  • KATELYN MALIS PATTISON (COO): $115,425 total reported compensation

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

Overview

Mission

Open hearth, inc., a leader in resource coordination and community building efforts, provides innovative programs to support and empower people to end the cycle of homelessness, acquire affordable housing, a means of transportation, workforce opportunities, and achieve financial stability.

What it reported doing in 2024

Housing Programs: The Organization is deeply committed to strengthening the community and addressing the evolving needs of the individuals it serves. Open Hearth plays a leading role in advancing affordable housing, financial empowerment, and overall quality of life in Chester County. For example, the CEO serves on the governance board of the Chester County Partnership to End Homelessness, while additional staff actively contribute to a range of local initiatives, including the Phoenixville Affordable Housing Council, Phoenixville Hospital Community Benefit Committee, the Housing Authority of Chester Countys Family Self-Sufficiency Committee, Phoenixville School Districts HUB, and the Chester County Reentry Coalition.In addition, Open Hearth founded and continues to facilitate the Phoenixville Area Resource Network (PARN), a monthly drop-in meeting that brings together staff from over 100 local social service agencies each year.The Targeted Homelessness Resource Coordination (THRC) Program, established in January 2020, remains a critical component of Chester Countys strategy to end homelessness. Aligned with the U.S. Department of Housing and Urban Developments (HUD) best practices, the THRC manages the countys by-name list in coordination with the Homeless Management Information System (HMIS) Data Lead and facilitates a coordinated, community-wide effort to prioritize and house individuals. This is accomplished through the facilitation of biweekly case conferencing meetings with cross-system providers. In 2024, 489 households were case conferenced.

Operating model

Revenue model
Grant-funded. 64% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.4%; rating input score 96
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: $29.57 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 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: -4.6%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.01; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 15.1% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 14.7% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 15.2% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 96.4% of revenue deployed · 92.2% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.9M in reported program spending
  • Leadership: top reported pay $167K · 13 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 21/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 23/100.