Overview
What is Hearthstone Housing Foundation?
Hearthstone Housing Foundation is a nonprofit organization situated in Newport Beach, California. Committed to serving low-income families, the elderly, and individuals with disabilities, the foundation focuses on acquiring, developing, and managing affordable housing properties. Beyond housing, Hearthstone also aims to combat community deterioration, alleviating the burden on government resources. They achieve these objectives through various means, such as partnering with private developers, coordinating property management and supportive services, advocating for affordable housing, and offering academic scholarships. The foundation's ultimate vision is to ensure affordable housing and necessary services for all individuals, regardless of age or income.
Official website here: www.hearthstonehousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Hearthstone Housing Foundation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The foundation's score is based entirely on its Accountability & Finance performance, which is commendable at 81%. The organization demonstrates strong governance practices, such as having a majority of independent board members and an established whistleblower policy, which contributes to its transparency and accountability.
The foundation excels in its financial management, with 81.13% of its expenses allocated directly to programs. This efficient use of funds underscores its commitment to its mission, as well as its effective oversight mechanisms, which are evident from the full points it received in areas like financial statements and asset management. Such high scores reflect a well-run organization that prioritizes the interests of its beneficiaries.
However, while Hearthstone Housing Foundation showcases strong organizational strengths, potential donors may want to consider the high compensation of its president, which stands at $402,000. This could raise questions about salary expenditures relative to overall fundraising. Despite this, the charity maintains a solid financial and governance framework, making it a trustworthy option for those looking to support housing initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Hearthstone Housing Foundation legitimate?
Hearthstone Housing Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hearthstone Housing Foundation 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: $492,663
Professional Fundraising Fees: $0
Other Salaries and Wages: $262,420
For more financial information, click here
Official website here: www.hearthstonehousing.org
What is the mission statement of Hearthstone Housing Foundation?
Hearthstone Housing Foundation's mission is centered around providing affordable housing for families of low income, the elderly, and the disabled. The organization also works towards combating community deterioration to alleviate the burden on government. They achieve this mission by partnering with private developers to construct housing in necessary areas, managing properties and offering support services to promote self-sufficiency, leveraging funds to increase the availability of affordable housing, advocating for the rights of the underprivileged, supporting programs for affordable housing development, and offering academic scholarships to residents and nearby communities. Their vision is for everyone, regardless of age or income, to enjoy quality affordable housing and have access to necessary services for self-sufficiency.
Official website here: www.hearthstonehousing.org
Who is the CEO of Hearthstone Housing Foundation?
Socorro Vasquez is the President of Hearthstone Housing Foundation.
Official website here: www.hearthstonehousing.org
What is the revenue of Hearthstone Housing Foundation?
Hearthstone Housing Foundation's revenue in 2022 was $2,071,644.
Official website here: www.hearthstonehousing.org
Who are the executives of Hearthstone Housing Foundation and what are their salaries?
The average compensation at Hearthstone Housing Foundation during 2022 was $151,017. There are 5 employees and 8 volunteers at Hearthstone Housing Foundation.
Here are 5 key members and their salaries:
- Compensation: $402,000
- Related: $0
- Other: $72,663
- Compensation: $4,500
- Related: $0
- Other: $0
- Compensation: $4,500
- Related: $0
- Other: $0
- Compensation: $4,500
- Related: $0
- Other: $0
- Compensation: $4,500
- Related: $0
- Other: $0
Official website here: www.hearthstonehousing.org
Where can I find the form 990 for Hearthstone Housing Foundation?
Hearthstone Housing Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hearthstonehousing.org
Learn more at the official website: www.hearthstonehousing.org
Mission Statement of Hearthstone Housing Foundation
Hearthstone Housing Foundation is committed to delivering service-enriched, affordable housing for families of modest income, the elderly, and individuals with disabilities. This mission extends beyond providing housing, as the foundation also aims to combat community deterioration and lessen the burden on government resources. To accomplish this, Hearthstone collaborates with private developers to construct housing in areas in need. The organization also manages these properties and offers supportive services, which help promote self-sufficiency and independence among residents.
In addition to building and managing properties, Hearthstone Housing Foundation leverages available funds to increase the availability of affordable housing. The organization advocates on behalf of low-income seniors, families, and individuals with disabilities to ensure their housing needs are met. Hearthstone also supports programs that promote the development of affordable housing, offering academic scholarships to both their residents and the surrounding communities. By providing these comprehensive services, Hearthstone Housing Foundation strives to make quality affordable housing a reality for all individuals, regardless of their age or income level.
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Impact
October, 2024
Hearthstone Housing Foundation significantly enhances the lives of low-income families, the elderly, and individuals with disabilities by providing service-enriched affordable housing. By acquiring, developing, and managing affordable housing properties, it addresses critical housing shortages in needful areas of Newport Beach, CA.
Its approach includes partnerships with private developers, ensuring the construction of quality housing that meets the needs of vulnerable populations. The foundation coordinates property management and supportive services, which promote self-sufficiency and independence among residents. This not only improves living conditions but also empowers individuals to rise above financial challenges.
Hearthstone actively works to expand the availability of affordable housing through strategic fundraising and advocacy, ensuring that the voices of low-income seniors, families, and disabled individuals are heard. Additionally, the foundation supports educational opportunities through academic scholarships, fostering growth and development within the community.
Ultimately, Hearthstone Housing Foundation’s efforts combat community deterioration, lessening the burdens on local governments while striving for a vision where all people can access quality housing and necessary support services.
This information is meant to be a general summary of Hearthstone Housing Foundation. 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: $196,251
- Program Service Revenue: $1,875,393
- Gross Receipts: $2,071,644
Assets and Liabilities:
- Total Assets: $35,949,184
- Total Liabilities: $31,098,009
- Net Assets: $4,851,175
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APPLICATION INCOME
Revenue
$48,000
OTHER INCOME
Revenue
$3,612
PROJECT INCOME
Revenue
$1,693,255
RENTAL INCOME
Revenue
$130,526
Organization Details
Founding Year
1995
Phone
(949) 553-9447Principal Officer
Socorro Vasquez
Main Address
1401 Dove St Suite 620, Newport Beach, CA, 92660
Website
www.hearthstonehousing.orgNTEE Category
Code: L22 - Housing
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