#302of 1,000 in 2025

Hearthway INC

Location
Pittsfield, Massachusetts
Sector
Housing
Founded
1971
550%Three-year growth, FY2022 to FY2025
$20.6MFY2025 revenue
92Employees, FY2025
#24of 74 in Housing
#8of 34 in Massachusetts

Revenue by fiscal year

FY2022: $3,173,380 $3.2M FY22 FY2023: $2,691,227 $2.7M FY23 FY2024: $3,725,565 $3.7M FY24 FY2025: $20,613,342 $20.6M FY25

We count pledges when the cash is received, not when they’re promised, so these numbers differ from Hearthway INC’s 990. How we count pledges

Where revenue came from, FY2025

Program revenue
$19.7M · 96%
Government grants
$758K · 4%
Other revenue
$162K · 1%
Total revenue on the 990
$20,858,022
Investment income
− $45,023
Pledges promised this year, not yet received
− $199,657
Revenue we count
$20,613,342

What 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.

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.
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.
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.

Leadership

Eileen PeltierPresident
Allison MaxfieldCFO
Matthew KropkeDirector of Real Estate Development
Kristin CoyneDirector of Portfolio Operations

EIN 04-2483322 · Full filings on ProPublica

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