OPEN HEARTH INC

EIN: 232652023 501(c)(3) Human Services

PHOENIXVILLE, PA

Total Revenue
$3,138,465
Total Expenses
$3,012,163
Total Assets
$3,339,003
Net Assets
$3,044,971
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
PA
Principal Officer
EDWIN SANTIAGO
Phone
6107929282
Tax Period
2023-01-01 to 2023-12-31

OPEN HEARTH INC, founded in 1991, is a community nonprofit in the Human Services sector that reported $3.1M in total revenue in fiscal year 2023. Revenue surged 238% from the prior year, signaling strong growth momentum. Expenses of $3.0M left a modest 4% surplus.

Mission

OPEN HEARTH, INC., A LEADER IN RESOURCE COORDINATION AND COMMUNITY BUILDING EFFORTS, PROVIDES INNOVATIVE PROGRAMS TO SUPPORT AND EMPOWER PEOPLE TO END THE CYCLE OF HOMELESSNESS, ACQUIRE AFFORDABLE HOUSING, A MEANS OF TRANSPORTATION, WORKFORCE OPPORTUNITIES, AND ACHIEVE FINANCIAL STABILITY.

Program Service Accomplishments

Program 1
Expenses: $1,996,282

OPEN HEARTH ADMINISTERED PERMANENT HOUSING SUBSIDIES FOR 86 INDIVIDUALS AND FAMILIES WHO EXPERIENCED HOMELESSNESS AND HAVE A DOCUMENTED DISABILITY VIA THE CONTINUUM OF CARE PERMANENT SUPPORTIVE...

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OPEN HEARTH ADMINISTERED PERMANENT HOUSING SUBSIDIES FOR 86 INDIVIDUALS AND FAMILIES WHO EXPERIENCED HOMELESSNESS AND HAVE A DOCUMENTED DISABILITY VIA THE CONTINUUM OF CARE PERMANENT SUPPORTIVE HOUSING PROGRAM (COC). ADDITIONALLY, OPEN HEARTH, INC. PROVIDES HOUSING STARTUP COSTS, EMERGENCY FINANCIAL ASSISTANCE TO PREVENT EVICTION OR UTILITY SHUT-OFF, AND HOTEL RESPITE FOR ADULTS EXPERIENCING HOMELESSNESS WHO HAVE A DIAGNOSIS OF A SERIOUS AND PERSISTENT MENTAL ILLNESS THROUGH THE HOUSING CONTINGENCY FUND PROGRAM (HCF). A TOTAL OF 75 HOUSEHOLDS RECEIVED HCF ASSISTANCE THIS YEAR. THE TARGETED HOMELESSNESS RESOURCE COORDINATOR (THRC) POSITION WAS ESTABLISHED IN JANUARY 2020 AS AN INTEGRAL PART OF CHESTER COUNTY'S EFFORT TO END HOMELESSNESS. ACCORDING TO THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD), THE BEST PRACTICE FOR ENDING HOMELESSNESS FOR ANY POPULATION IS THROUGH THE CREATION AND MANAGEMENT OF A BY-NAME LIST. THE THRC IS RESPONSIBLE FOR WORKING IN CONCERT WITH CHESTER COUNTY'S HOMELESS MANAGEMENT INFORMATION SYSTEM (HMIS) DATA LEAD TO MAINTAIN AND MONITOR THIS LIST, WHILE ALSO OVERSEEING A COMMUNITY-WIDE EFFORT AMONG ALL HOUSING PROVIDERS TO PRIORITIZE THOSE ON THIS LIST FOR PERMANENT HOUSING OPPORTUNITIES. THIS IS PRIMARILY DONE BY FACILITATING MULTIPLE BIWEEKLY CASE CONFERENCE MEETINGS WITH CROSS-SYSTEM PROVIDERS TO ENSURE THAT ALL HOUSEHOLDS EXPERIENCING HOMELESSNESS ARE EQUITABLY OFFERED SERVICES AND HOUSING RESOURCES. IN 2023, 514 HOUSEHOLDS WERE CASE CONFERENCED.

Program 2
Expenses: $641,324

THE FAMILY SAVINGS PARTNER (FSP) PROGRAM ASSISTS ELIGIBLE HOUSEHOLDS IN BUILDING ASSETS BY PROVIDING MATCHED SAVINGS FOR PROGRAM GRADUATES TO BE APPLIED TOWARDS FIRST-TIME HOME OWNERSHIP, HIGHER...

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THE FAMILY SAVINGS PARTNER (FSP) PROGRAM ASSISTS ELIGIBLE HOUSEHOLDS IN BUILDING ASSETS BY PROVIDING MATCHED SAVINGS FOR PROGRAM GRADUATES TO BE APPLIED TOWARDS FIRST-TIME HOME OWNERSHIP, HIGHER EDUCATION, OR CAR PURCHASE. THIS PAST YEAR, FSP SERVED A TOTAL OF 80 HOUSEHOLDS, WITH 24 SUCCESSFULLY PURCHASING THEIR DESIRED ASSETS. FURTHERMORE, EMBEDDED IN FSP - AND AVAILABLE TO THE PUBLIC - ARE FREE FINANCIAL EDUCATION WORKSHOPS ON TOPICS INCLUDING BUT NOT LIMITED TO BUDGETING, CREDIT REPAIR, HOME PURCHASE, FINANCING COLLEGE, AND THE CAR BUYING PROCESS. 18 PERSONAL FINANCIAL EDUCATION WORKSHOPS WERE HOSTED THROUGHOUT THE YEAR WITH 204 TOTAL (70 UNDUPLICATED) ATTENDEES. OUR FINANCIAL NAVIGATORS SERVE AS A POINT OF ENTRY FOR THE UNITED WAY OF CHESTER COUNTY'S FINANCIAL STABILITY CENTER LOCATED IN EXTON, PA. THEIR PRIMARY ROLE IS TO PROVIDE FINANCIAL COACHING SERVICES TO CLIENTS WHO ASPIRE TO ACHIEVE THE GOAL(S) OF INCREASING INCOME, DECREASING DEBT, AND/OR BUILDING SAVINGS. ADDITIONALLY, THEY FUNCTION AS RESOURCE COORDINATORS, CONNECTING CLIENTS TO OTHER SERVICES HOUSED AT THE FINANCIAL STABILITY CENTER, AS WELL AS TO OTHER COMMUNITY-BASED ORGANIZATIONS. A TOTAL OF 383 CLIENTS WERE SERVED THIS YEAR, WHICH INCLUDES 84 NEW FULL-SERVICE, 179 BRIEF SERVICES, AND 120 FULL-SERVICE CLIENTS CARRIED OVER FROM THE PREVIOUS YEAR.

Program 3

OPEN HEARTH, INC.'S MISSION INCLUDES THE ORGANIZATION'S ONGOING EFFORTS TO STRENGTHEN THE COMMUNITY AND MEET THE NEEDS OF THOSE THAT IT SERVES. THE ORGANIZATION HAS TAKEN A LEADERSHIP POSITION IN THE...

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OPEN HEARTH, INC.'S MISSION INCLUDES THE ORGANIZATION'S ONGOING EFFORTS TO STRENGTHEN THE COMMUNITY AND MEET THE NEEDS OF THOSE THAT IT SERVES. THE ORGANIZATION HAS TAKEN A LEADERSHIP POSITION IN THE COMMUNITY ON THE ISSUES OF AFFORDABLE HOUSING, FINANCIAL STABILITY, AND IMPROVED QUALITY OF LIFE FOR ALL. THE CEO SERVES ON THE COMMUNITY COALITION BOARD AND CHAIRS THE GOVERNANCE BOARD OF THE CHESTER COUNTY PARTNERSHIP TO END HOMELESSNESS. ADDITIONAL STAFF SERVE ON OTHER COMMUNITY INITIATIVES INCLUDING THE PHOENIXVILLE AFFORDABLE HOUSING COUNCIL, PHOENIXVILLE HOSPITAL COMMUNITY BENEFIT COMMITTEE, THE CHESTER COUNTY HOUSING AUTHORITY'S FAMILY SELF SUFFICIENCY COMMITTEE, RIDE FOR HEALTH INITIATIVE, AND PHOENIXVILLE SCHOOL DISTRICT'S HUB, JUST TO NAME A FEW. THE ORGANIZATION ALSO CREATED AND PUBLISHED SIX EDITIONS OF THE HELP BOOK: A HEALTH AND HUMAN SERVICES GUIDE, A POPULAR RESOURCE FOR AGENCIES, ORGANIZATIONS, AND COMMUNITY MEMBERS TO CONNECT THEIR NEEDS TO LOCAL AREA SERVICES. ADDITIONALLY, OPEN HEARTH, INC. FOUNDED AND FACILITATES THE PHOENIXVILLE AREA RESOURCE NETWORK (PARN), A MONTHLY DROP-IN MEETING ATTENDED EACH YEAR BY THE STAFF OF OVER 100 LOCAL SOCIAL SERVICE AGENCIES.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,105,409
Program Service Revenue $0
Investment Income $33,056
Other Revenue $0
TOTAL REVENUE $3,138,465

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,281,455
Fundraising Expenses $121,360
Program Expenses $2,637,606
Other Expenses $1,730,708
TOTAL EXPENSES $3,012,163

Year-over-Year Comparison

2023 2022 Change
Revenue $3,138,465 $927,758 +2.4%
Expenses $3,012,163 $656,454 +3.6%
Net Income $126,302 $271,304 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
10
Employees
23
Volunteers
27

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$324,450
Total Directors
11
$136,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KELLY RAGGAZINO CEO 40.00
Officer Director
$136,000 $0 $136,000
KATELYN MALIS PATTISON COO 40.00
Officer
$94,950 $0 $94,950
CHRISTINA WHEELER TOWNE CFO 40.00
Officer
$93,500 $0 $93,500
EDWIN SANTIAGO President 1.00
Officer Director
$0 $0 $0
DAVID SHELLENBERGER Vice President 1.00
Officer Director
$0 $0 $0
LISA KORAB Director 1.00
Director
$0 $0 $0
CRYSTAL JOHNS Director 1.00
Director
$0 $0 $0
DAVID MEGAY ESQ Director 1.00
Director
$0 $0 $0
MELISSA E SCOTT ESQ Director 1.00
Director
$0 $0 $0
RYAN DADOLY Director 1.00
Director
$0 $0 $0
CHARLES BENZ Director 1.00
Director
$0 $0 $0
RYAN WARWICK Director 1.00
Director
$0 $0 $0
TAMARA CLARKE Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $3,138,465 $3,012,163 $3,339,003 $126,302
2021 $5,308,123 $4,450,315 $3,271,644 $857,808
2020 $1,965,186 $1,925,405 $1,051,998 $39,781
2019 $1,609,684 $1,615,572 $887,464 $-5,888
2018 $1,514,076 $1,494,265 $895,884 $19,811
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