Hearthstone Housing Foundation

What Hearthstone Housing Foundation does

Hearthstone Housing Foundation is a 501(c)(3) nonprofit public benefit corporation founded in 1992 and headquartered in Newport Beach, California, with a regional office in Bellevue, Washington. It provides service-enriched affordable housing for low-income families, seniors, and people with disabilities, functioning as general partner of numerous affordable multifamily housing projects across nearly 200 properties in 10 states (California, Georgia, Maryland, Massachusetts, New Jersey, North Carolina, Oregon, Rhode Island, South Carolina, and Washington). The core operating model is partnership-based rather than vertically integrated development: Hearthstone co-develops properties with private developers including APG Development, AMCAL Housing, April Housing, Aszkenazy & Company, Berkshire Communities, Holland Partner Group, and Prometheus Companies, and layers on property management and supportive services intended to promote resident self-sufficiency.

The organization complements its housing program with two ancillary charitable programs: the Hearthstone Scholarship Fund, established in 2009 to provide $500-$5,000 academic scholarships to residents and surrounding-community students; and the Helping Hands Program, launched in 2011 to distribute school-supply backpacks to students aged 5-18, free meals and blankets to senior residents, and contributions to local charitable organizations. Community support partnerships with organizations such as LifeSteps, Meals on Wheels America, Moms Meals, Sacramento Food Bank, 2nd Harvest Food Bank, and PathPoint extend the foundation's service footprint without internal capacity expansion.

Hearthstone is governed by a Board of Directors and led by Executive Director and President Socorro 'Coco' Vasquez, who has held the role since October 1998. The Board includes Vice President Ted E. Bean, Secretary & Treasurer Juan Maldonado, Member Mike Hemmens (Managing Director, Citi Community Capital, with $5B+ track record in affordable-housing financings via Fannie Mae/Freddie Mac), and Legal Counsel Henry C. Har, Esq. Day-to-day operations are handled by a small team of approximately 6 staff across functions including finance (Erin Wu), project development (Ashley Walker), and project management (Makiko Sakai, Leticia C. Garcia). Funding sources are charitable contributions, grants, and developer partnerships; no revenue figures are publicly disclosed.

Name

Hearthstone Housing Foundation

Legal name

Hearthstone Housing Foundation

Website

https://hearthstonehousing.org

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

Hearthstone Housing Foundation is a 501(c)(3) nonprofit founded in 1992 that delivers service-enriched affordable housing across nearly 200 properties in 10 U.S. states for low-income families, seniors, and people with disabilities, operating through co-development partnerships with private housing developers.

Ownership category

akta.pro rank

Product category

Affordable Housing Services

NAICS

Community Housing Services (62422), Other Community Housing Services (624229)

SIC

Services-Social Services (8300), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

akta.pro secondary industries

Housing Assistance & Homeless Services (BPAGAEAB), Scholarship & Fellowship Foundations and Trusts (EDADAHAC)

Keywords

• Affordable housing services
• Nonprofit property management
• Low-income housing
• Senior supportive housing
• Accessible housing programs

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain

Revenue model

1. Charitable contributions and grants: Hearthstone Housing Foundation is a 501(c)(3) nonprofit public benefit corporation that operates through charitable contributions, grants, and partnerships to provide affordable housing services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Hearthstone Housing Foundation is a 501(c)(3) nonprofit that develops, owns as general partner, and manages service-enriched affordable multifamily rental housing for low-income families, seniors, and people with disabilities, partnering with private developers across nearly 200 properties in 10 U.S. states. Beyond housing, it administers the Hearthstone Scholarship Fund (academic scholarships of $500–$5,000 for residents and surrounding community students) and the Helping Hands program (back-to-school backpacks, senior meals, blankets, and contributions to local charitable organizations).

Product overview

Hearthstone Housing Foundation operates as a unified nonprofit housing organization offering three interconnected core services: (1) affordable housing development and property management through partnerships with private developers, serving low-income families, seniors, and people with disabilities across nearly 200 properties nationwide; (2) the Hearthstone Scholarship Fund, providing $500-$5,000 awards to eligible low-income students since 2009; and (3) the Helping Hands Program, delivering charitable contributions including backpacks for students and meals/blankets for seniors. The organization coordinates property management with supportive services to promote resident self-sufficiency and independence.

Differentiator

Problem solved

Functional benefit

Brands

• Helping Hands: Charitable contributions program providing backpacks with school supplies to students aged 5-18, free meals and blankets to senior residents, and support to local charitable organizations serving Hearthstone communities.

Products and services

• Affordable Housing Service-enriched affordable rental housing for low-income families, seniors, and people with disabilities, operated across nearly 200 properties in 10 U.S. states through partnerships with private developers (APG Development, AMCAL Housing, Berkshire Communities, Holland Partner Group, Prometheus Companies, etc.) and direct property management.
• Hearthstone Scholarship Fund Academic scholarship program offering awards ranging from $500 to $5,000 to low-income full-time high school and undergraduate students residing in Hearthstone properties or surrounding communities.
• Helping Hands Program Charitable contributions program providing backpacks with school supplies to students aged 5-18, free meals and blankets to senior residents, and support to local charitable organizations serving Hearthstone communities. Since 2011, the program has delivered over 20,800 backpacks, 4,500 meals, and 5,889 blankets.

Quantifiable outcome

• Nearly 200 properties serving thousands of people across the country

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

13 partnerships are on record, tiered core and support.

• APG DevelopmentcoreStrategic or Co-development PartnerHousing development partner working with Hearthstone to build quality affordable housing in areas of need.
• AMCAL HousingcoreStrategic or Co-development PartnerHousing development partner specializing in affordable multifamily housing projects.
• April HousingcoreStrategic or Co-development PartnerHousing development partner for affordable housing projects.
• Aszkenazy & CompanycoreStrategic or Co-development PartnerHousing development partner for affordable housing projects.
• Berkshire CommunitiescoreStrategic or Co-development PartnerHousing development partner for affordable housing projects.
• Holland Partner GroupcoreStrategic or Co-development PartnerHousing development partner for affordable housing projects.
• Prometheus CompaniescoreStrategic or Co-development PartnerHousing development partner for affordable housing projects.
• LifeStepssupportOthersCommunity partner providing supportive services to Hearthstone residents.
• Meals on Wheels AmericasupportOthersCommunity partner providing meal services to senior residents.
• Moms MealssupportOthersCommunity partner providing meal services to residents.
• Sacramento Food BanksupportOthersCommunity partner providing food assistance to Hearthstone communities.
• 2nd Harvest Food BanksupportOthersCommunity partner providing food assistance to Hearthstone communities.
• PathPointsupportOthersCommunity partner providing supportive services to residents.

Scale indicators5 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Mercy Housing: National nonprofit affordable housing developer and operator serving low-income families, seniors, and people with disabilities. Comparable as a similarly mission-aligned nonprofit operating a large multifamily affordable housing portfolio with supportive services partnerships.
• Abode Communities: California and Pacific Northwest nonprofit affordable housing developer serving families, seniors, and special needs populations. Comparable in scale, target residents, and reliance on developer-style partnerships and supportive service coordination.
• BRIDGE Housing: California-based nonprofit affordable housing developer and operator focused on low-income families, seniors, and people with disabilities. Highly comparable in mission, service-enriched model, and West Coast geographic footprint.
• National Affordable Housing Trust: Nonprofit affordable housing operator supporting families and seniors across multiple states. Comparable multi-state footprint and service-enriched operating model for low-income populations.
• CSI Support & Development: Nonprofit affordable housing developer focused on supportive housing for people with disabilities and low-income populations — directly comparable as a smaller, service-enriched nonprofit operating affordable multifamily housing.
• Community HousingWorks: California-based nonprofit affordable housing developer and operator serving families, seniors, and special needs populations. Comparable in California geographic concentration, target residents, and service-enriched operating model.
• The NHP Foundation: National nonprofit that preserves and operates affordable housing for low- and moderate-income families, seniors, and people with disabilities. Comparable in mission and as a general partner / operating sponsor in affordable multifamily housing.
• Linc Housing: California nonprofit affordable housing developer that builds and manages service-enriched communities for low-income families, seniors, and people with disabilities — overlapping directly with Hearthstone's California footprint and target populations.

Broad incumbents

• Volunteers of America (National Services): Large national nonprofit that operates affordable housing and supportive services for low-income families, seniors, veterans, and people with disabilities — overlapping in target residents and wraparound service model, though significantly larger.
• Enterprise Community Partners: Major national nonprofit that develops and finances affordable housing through LIHTC syndications, development, and policy advocacy. Much larger than Hearthstone, but competes for similar developer partnerships and operates in many of the same states.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hearthstone-housing-foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hearthstone Housing Foundation