OPEN HEARTH WORKS INC

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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

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.

Program Service Accomplishments

Program 1

Expenses: $583,793 Revenue: $29,658

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%)

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$267,298

Total Directors

Key Employees

Highest Compensated

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