Warm Hearth Foundation Incorporated
- Assets
- $3.0m
- Revenue
- $579.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Blacksburg, VA
- Founding
- 12/1992
- Data as of
- 09/2021
- EIN
- 54-1639629
Organization Overview
Warm Hearth Foundation Incorporated is located in Blacksburg, VA. The organization was established in 1992. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Warm Hearth Foundation Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Warm Hearth Foundation Incorporated generated $579.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $387.8k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WARM HEARTH FOUNDATION RECEIVES AND ADMINISTERS SUPPORTING FUNDS FOR THE PURPOSES OF RESIDENTS OF WARM HEARTH VILLAGE AS FOLLOWS (A) HOUSING SERVICES TO ELDERLY AND HANDICAPPED AS PROVIDED BY TROLINGER HOUSE, INC., NEW RIVER HOUSE, INC., NEW CENTURY HOUSING, INC., AND WARM HEARTH, INC., (B) NON-PROFIT NURSING HOME AND ASSISTED LIVING CARE AS PROVIDED BY NRV NURSING CENTER, INC. AND SHOWALTER CENTER, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION RECEIVES AND ADMINISTERS CHARITABLE CONTRIBUTIONS FOR THE SUPPORT OF WARM HEARTH VILLAGE, A SENIORS HOUSING COMMUNITY IN BLACKSBURG, VIRGINIA. WARM HEARTH VILLAGE PROVIDES ELDERLY AND HANDICAPPED PERSONS WITH AFFORDABLE HOUSING. THE CORPORATION PROVIDES SUPPORT TO EIGHT AFFILIATED ORGANIZATIONS WHICH COMPRISE WARM HEARTH VILLAGE, PROVIDING HOUSING TO APPROXIMATELY 350 PERSONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Bunce Treasurer | OfficerTrustee | 0.5 | $0 |
Thomas Pierce President | OfficerTrustee | 0.5 | $0 |
Mike Spears Secretary | OfficerTrustee | 0.5 | $0 |
Ferne Moschella Former President / CEO | Officer | 0.5 | $0 |
Molly Nevitt CFO | Officer | 0.5 | $0 |
Brad Dalton Current President / CEO | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $372,782 |
| Noncash contributions included in lines 1a–1f | $37,152 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $372,782 |
| Total Program Service Revenue | $0 |
| Investment income | $28,058 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $178,618 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $579,475 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $84,851 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150 |
| Fees for services: Accounting | $1,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,542 |
| Fees for services: Other | $1,062 |
| Advertising and promotion | $13 |
| Office expenses | $18,636 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,414 |
| Travel | $178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,997 |
| Insurance | $6,146 |
| All other expenses | $8,573 |
| Total functional expenses | $387,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,311 |
| Savings and temporary cash investments | $226,446 |
| Pledges and grants receivable | $3,382 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $58,074 |
| Investments—publicly traded securities | $2,090,268 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $614,000 |
| Total assets | $3,025,481 |
| Accounts payable and accrued expenses | $32,184 |
| Grants payable | $0 |
| Deferred revenue | $196,035 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $166,103 |
| Total liabilities | $394,322 |
| Net assets without donor restrictions | -$47,026 |
| Net assets with donor restrictions | $2,678,185 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,025,481 |
Grants Awarded
Over the last fiscal year, Warm Hearth Foundation Incorporated has awarded $75,137 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Blacksburg, VA PURPOSE: GENERAL SUPPORT | $68,877 |
Blacksburg, VA PURPOSE: GENERAL SUPPORT | $6,260 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Warm Hearth Foundation Incorporated has recieved totaling $14,820.
| Awarding Organization | Amount |
|---|---|
C E Richardson Benevolent Foundation Pulaski, VA PURPOSE: SUPPORT RESIDENTS WHO CANNOT AFFORD TO PAY THE COST OF THEIR HOUSING AND HEALTH CARE. | $9,720 |
Corning Incorporated Foundation Corning, NY PURPOSE: GENERAL PROGRAM SUPPORT | $5,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $100 |
Endowment Analysis
| Beg. Balance | $1,828,269 |
| Earnings | $271,883 |
| Net Contributions | $25,205 |
| Other Expense | $113,307 |
| Ending Balance | $2,012,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Albright Care Services Frederick, MD | $96,340,327 | $64,491,895 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Givens Estates Inc Asheville, NC | $338,452,219 | $72,683,846 |
Presbyterian Homes Inc Colfax, NC | $256,348,828 | $62,438,008 |
Aldersgate United Methodist Retirement Community Inc Charlotte, NC | $165,248,151 | $44,725,662 |
Everyage Newton, NC | $158,969,277 | $58,100,743 |
Southminster Inc Charlotte, NC | $251,267,272 | $46,562,509 |
Sunnyside Presbyterian Home Harrisonburg, VA | $146,625,946 | $50,868,403 |
Masonic Homes Of Kentucky Inc Masonic Home, KY | $92,700,057 | $43,584,418 |