Open Hearth Works Inc

Nonprofit profile at a glance

EIN
813045020
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Hartford, CT, USA
Phone
8605253447
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$627,490
Expenses
$630,546
Assets
$288,582
Liabilities
$118,738

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

Leadership & pay

5 people listed

Executive titles in this filing

  • MARILYN ROSSETTI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARILYN ROSSETTI (EXECUTIVE DIRECTOR): $173,541 total reported compensation
  • DAVID WALTON (CFO): $93,757 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 job training opportunities to residents of the open hearth association.

Operating model

Revenue model
Grant-funded. 93% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 70
  • Accountability: 91
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93%; rating input score 93
  • Program expense ratio: 92.6%; rating input score 93
  • Fundraising efficiency: Limited

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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.5%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 41% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 40.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 48.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 93% of revenue deployed · 92.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $584K in reported program spending
  • Leadership: top reported pay $174K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.