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Hearthway Inc

EIN 04-2483322 · Pittsfield, MA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

DEVELOPMENT AND OPERATION OF HOUSING AND COMMUNITY DEVELOPMENT PROJECTS AND PROGRAMS THAT BENEFIT LOW AND MODERATE INCOME PEOPLE. MOST SIGNIFICANT CURRENT ACTIVITIES ARE DEVELOPING AFFORDABLE HOUSING, ADMINISTERING THE SECTION 8 HCV PROGRAM, ADMINISTERING HOUSING ASSISTANCE PROGRAMS INCLUDING RAFT, HOMEBASE AND NEIGHBOR TO NEIGHBOR AND OPERATING THE REGION.

Income
$20.9 million
Spending
$20.8 million
Spent on programs
89%
Reserves
4.9 months of spending
Largest source of income
fees for its services, 94%
Employees
92
Volunteers
0
Highest pay
$189,682, president

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 67 out of 100. Higher than 63% of charities in its peer group (housing, $10m to $100m).

  • Reserves

    20 of 35

    Spendable reserves would cover 4.9 months of spending.

  • Debt

    5 of 20

    It owes 53% of what it owns.

  • Living within its means

    12 of 15

    Income exceeded spending by 0% of income.

  • Income trend

    15 of 15

    Income rose 457% on the year before.

  • Spending floor

    15 of 15

    89% of spending went to programs and raising each dollar of donations cost 4 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 44% of charities in its peer group (housing, $10m to $100m).

  • Independent board

    25 of 25

    11 of 11 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $10.9 million spent. HEARTHWAY ADMINISTERS FEDERALLY AND STATE FUNDED RENTAL HOUSING PROGRAMS THAT PROVIDE DIRECT RENTAL SUBSIDIES TO LOW-INCOME HOUSEHOLDS THROUGHOUT BERKSHIRE COUNTY. THESE PROGRAMS ARE DESIGNED TO MAKE SAFE, DECENT, AND AFFORDABLE HOUSING ACCESSIBLE TO INDIVIDUALS AND FAMILIES WITH LIMITED FINANCIAL RESOURCE, INCLUDING SENIORS, PERSONS WITH DISABILITIES, AND OTHER VULNERABLE POPULATIONS.
  2. $6.1 million spent. HEARTHWAY OPERATES A REGIONAL HOUSING CONSUMER EDUCATION CENTER (HCEC) AND ADMINISTERS FINANCIAL ASSISTANCE PROGRAMS, INCLUDING RESIDENTIAL ASSISTANCE FOR FAMILIES IN TRANSITION (RAFT) AND HOMEBASE, TO HELP LOW-INCOME INDIVIDUALS AND FAMILIES IN BERKSHIRE COUNTY OBTAIN AND MAINTAIN STABLE HOUSING. THESE PROGRAM PROVIDE HOUSING COUNSELING, LANDLORD MEDIATION, HOUSING SEARCH ASSISTANCE, AND SHORT-TERM FINANCIAL ASSISTANCE FOR ELIGIBILITY HOUSING-RELATED EXPENSES. SERVICES ARE DESIGNED TO PREVENT HOMELESSNESS, SUPPORT HOUSEHOLDS EXITING SHELTER, AND PROMOTE LONG-TERM HOUSING STABILITY FOR FAMILIES AND INDIVIDUALS FACING HOUSING CRISES.
  3. $1.6 million spent. HEARTHWAY DEVELOPS, OWNS, AND MANAGES AFFORDABLE HOUSING FOR LOW-AND MODERATE-INCOME HOUSEHOLDS THROUGHOUT BERKSHIRE COUNTY. PROGRAM ACTIVITIES INCLUDE IDENTIFYING DEVELOPMENT OPPORTUNITIES, SECURING FINANCING FROM FEDERAL, STATE AND PRIVATE SOURCES, OVERSEEING CONSTRUCTION AND REHABILITATION, AND MANAGING RESIDENTIAL PROPERTIES TO ENSURE THEY REMAIN SAFE, WELL-MAINTAINED, AND AFFORDABLE OVER THE LONG TERM. IN ADDITION TO PROPERTY MANAGEMENT, THE ORGANIZATION PROVIDES RESIDENT SERVICES DESIGNED TO SUPPORT HOUSING STABILITY AND IMPROVE QUALITY OF LIFE. THROUGH THE INTEGRATION OF HOUSING DEVELOPMENT, PROPERTY OPERATIONS, AND SERVICE-ENRICHED HOUSING, THE ORGANIZATION PROMOTES STABLE HOUSING AND STRONGER COMMUNITIES.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 2015.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

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