Massachusetts · Nonprofit
HEARTHWAY INC
HEARTHWAY INC (Massachusetts) receives grants from 7 organizations whose IRS filings report $2,023,924 to it, the largest being United Way Of Massachusetts Bay Inc ($1,250,003). 1 of them have funded it in more than one year.
- Revenue FY2025
- $21M
- Funders on record
- 7
- Grants received
- $2.0M
- Net assets
- $9.1M
What Hearthway Inc does
Mission
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.
As stated on its FY2025 Form 990.
Programs
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.
$10,884,831 spent$10,985,830 earned by the program59% of program spendingHearthway 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.
$6,061,698 spent$6,373,502 earned by the program33% of program spendingHearthway 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.
$1,583,118 spent$2,541,513 earned by the program9% of program spending
The 3 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $18,529,647.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2024 to 2025, from $8.3M to $19M (+133%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 6% · 2018 27% · 2019 16% · 2020 6% · 2021 6% · 2025 4%. Grants only. Government contracts and fees sit inside program revenue.
5% of HEARTHWAY INC’s revenue is contributions — about as donation-reliant as the typical peer (13% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 1 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Board chair
Michael Barbieri
Chairman
As listed on its FY2025 Form 990.
Who funds it, year by year
2017 → 2023: the base held at 2 funders, grant income rose $46k → $349k.
1 of 7 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 0% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of HEARTHWAY INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
HEARTHWAY INC leans on a few funders — its largest provides 62% of grant income and the top three 89%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
98% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund HEARTHWAY INC.
Largest funder’s share by year: 2017 59% · 2018 100% · 2021 58% · 2022 100% · 2023 100% — growing more concentrated.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
100% of HEARTHWAY INC's grant income comes from Massachusetts funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $10k arriving through sponsors registered in 1 state is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
HEARTHWAY INC has grown faster than three-quarters of the 449 housing & shelter nonprofits its size.
this organization peer median middle 50% of peers· 449 housing & shelter nonprofits $10M–$100M, FY2025
Government funding HEARTHWAY INC receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $793k on record.
- (PP) STATE AID/POL SUB$793k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like HEARTHWAY INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
89% of spending goes to programs.
Governance
Public support
99%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Part of a family of 11 related entities
- First Street Apartments LLC · disregarded
- First Street Housing Center LLC · disregarded
- Bostwick Gardens Manager LLC · partnership
- Bentley Apartments Mm LLC · partnership
- Bhdc Cole Mm Apartments LLC · partnership
Screen this organization
A dated, signed PDF of the compliance screen for HEARTHWAY INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds HEARTHWAY INC?
- HEARTHWAY INC (Massachusetts) receives grants from 7 organizations whose IRS filings report $2,023,924 to it, the largest being United Way Of Massachusetts Bay Inc ($1,250,003). 1 of them have funded it in more than one year.
- How many funders does HEARTHWAY INC have?
- IRS filings report 7 organizations giving $2,023,924 in grants to HEARTHWAY INC, 1 of which have funded it in more than one year.
- Who is the largest funder of HEARTHWAY INC?
- United Way Of Massachusetts Bay Inc is the largest funder on record, with $1,250,003 in grants. The full list of funders is on this page.
- How can an organization like HEARTHWAY INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Hearthway →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 7 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing