OPEN HEARTH WORKS INC

EIN: 813045020 501(c)(3) Human Services

HARTFORD, CT

Total Revenue
$627,490
Total Expenses
$630,546
Total Assets
$288,582
Net Assets
$169,844
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
CT
Principal Officer
MARILYN ROSSETTI
Phone
8605253447
Tax Period
2024-01-01 to 2024-12-31

OPEN HEARTH WORKS INC, founded in 2019, is a small nonprofit in the Human Services sector that reported $627K in total revenue in fiscal year 2024.

Mission

PROVIDE JOB TRAINING OPPORTUNITIES TO RESIDENTS OF THE OPEN HEARTH ASSOCIATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $597,832
Program Service Revenue $28,937
Investment Income $0
Other Revenue $721
TOTAL REVENUE $627,490

Expense Breakdown

Grants Paid $0
Salaries & Benefits $505,429
Fundraising Expenses $0
Program Expenses $583,793
Other Expenses $125,117
TOTAL EXPENSES $630,546

Year-over-Year Comparison

2024 2023 Change
Revenue $627,490 $583,693 +0.1%
Expenses $630,546 $480,942 +0.3%
Net Income $-3,056 $102,751 -1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
72
Volunteers
3

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
$267,298
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES HERBERT SECRETARY 0.50
Officer Director
$0 $0 $0
MIKE AGLI TREASURER 0.50
Officer Director
$0 $0 $0
TOM VEILLEUX CHAIR 0.50
Officer Director
$0 $0 $0
MARILYN ROSSETTI EXECUTIVE DIRECTOR 1.00
Officer
$0 $0 $173,541
DAVID WALTON CFO 1.00
Officer
$0 $0 $93,757
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 $627,490 $630,546 $288,582 $-3,056
2023 $583,693 $480,942 $271,726 $102,751
2022 $235,179 $253,933 $81,112 $-18,754
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