Overview
What is Warm Hearth Inc?
Warm Hearth Inc is a dedicated nonprofit organization situated in Blacksburg, Virginia. The primary focus of this organization is to offer supervision, management, and developmental services to a senior housing community, which is managed by both 501(c)(3) and 501(c)(4) nonprofit entities. This community provides shelter and housing to around 500 elderly and handicapped individuals. Warm Hearth Inc's mission is to ensure the well-being and comfort of these residents, contributing to a total workforce of 473 individuals.
Official website here: www.retire.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 78% - Three-Star out of Four Star rating.
Warm Hearth Inc has received a Three-Star rating, indicating a solid performance in accountability and finance. The organization has demonstrated a strong commitment to governance, with 100% of its board members being independent and a comprehensive set of policies in place for oversight and transparency. The financial statements are subjected to an audit, and there have been no reported material diversions of assets, contributing to the overall positive assessment of the nonprofit.
Despite its strengths, the charity's financial health shows areas for improvement, particularly with a liabilities to assets ratio of 73.47%, which is a point of concern. However, the program expense ratio is commendable at 67.48%, suggesting that a significant portion of its resources is directed towards its programs. The organization maintains good transparency practices, including the availability of meeting minutes and policies on conflict of interest, whistleblower protections, and document retention.
Overall, while Warm Hearth Inc exhibits responsible financial management and governance, attention to its liabilities may be necessary for sustained operational effectiveness and to bolster its financial stability.
This AI summary has been generated from information found on Charity Navigator.
Is Warm Hearth Inc legitimate?
Warm Hearth Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Warm Hearth Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $287,867
Professional Fundraising Fees: $0
Other Salaries and Wages: $597,698
For more financial information, click here
Official website here: www.retire.org
What is the mission statement of Warm Hearth Inc?
Warm Hearth Inc provides supervision, management, and development services to a senior housing community operated by both 501(C)(3) and 501(C)(4) non-profit organizations. This community offers housing for approximately 500 elderly and handicapped individuals. The corporation's mission is centered around supporting this senior housing community, ensuring it operates effectively and provides appropriate accommodation for its residents. By doing so, Warm Hearth Inc contributes to the well-being and comfort of a significant number of elderly and handicapped individuals, enabling them to lead fulfilling lives.
Official website here: www.retire.org
Who is the CEO of Warm Hearth Inc?
William Lester is the Principal Officer of Warm Hearth Inc. The CEO's salary of Warm Hearth Inc is $168,773 and their total compensation is $172,523.
Official website here: www.retire.org
What is the revenue of Warm Hearth Inc?
Warm Hearth Inc's revenue in 2022 was $2,131,943.
Official website here: www.retire.org
Who are the executives of Warm Hearth Inc and what are their salaries?
The average compensation at Warm Hearth Inc during 2022 was $1,872. There are 473 employees and 50 volunteers at Warm Hearth Inc.
Here are 23 key members and their salaries (Warm Hearth Inc's CEO's salary is $168,773 and their total compensation is $172,523):
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- Compensation: $168,773
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- Compensation: $100,250
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- Other: $4,566
Official website here: www.retire.org
Where can I find the form 990 for Warm Hearth Inc?
Warm Hearth Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.retire.org
Learn more at the official website: www.retire.org
Mission Statement of Warm Hearth Inc
Warm Hearth Inc, a nonprofit organization, plays a crucial role in providing supportive services to a seniors housing community operated by 501(C)(3) and 501(C)(4) organizations. Their mission is centered around managing and developing this community, ensuring that it caters to approximately 500 elderly and handicapped individuals. This community offers a safe and comfortable living environment for these individuals, providing them with the necessary care and support they require. By overseeing the operations of this housing community, Warm Hearth Inc contributes significantly to the well-being and quality of life of these vulnerable individuals.
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Impact
October, 2024
Warm Hearth Inc significantly enhances the quality of life for approximately 500 elderly and handicapped individuals by offering essential supervision, management, and development services within a senior housing community. Located in Blacksburg, VA, it plays a vital role in ensuring that residents have access to secure and supportive living conditions. By fostering an environment tailored to meet the unique needs of seniors, Warm Hearth Inc helps promote independence and a sense of community among its residents. Its impact extends beyond mere housing—by focusing on the holistic well-being of individuals, it contributes to the overall health and social engagement of an often vulnerable population.
This information is meant to be a general summary of Warm Hearth Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $490
- Program Service Revenue: $1,938,256
- Gross Receipts: $2,131,943
Assets and Liabilities:
- Total Assets: $9,848,371
- Total Liabilities: $8,403,957
- Net Assets: $1,444,414
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$870,699
VILLAGE CENTER REVENUE
Revenue
$503,747
LIFE-LEASE FEES
Revenue
$276,858
SERVICE INCOME
Revenue
$173,960
CABLE TV/INTERNET/PHON
Revenue
$112,992
Organization Details
Founding Year
1974
Phone
(540) 552-9176Principal Officer
William Lester
Main Address
2607 WARM HEARTH DRIVE NO 100, BLACKSBURG, VA, 24060
Website
www.retire.orgNTEE Category
Code: L200 - Housing
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