Overview
What is Homestart Inc?
Homestart Inc, located in Dayton, Ohio, is a dedicated nonprofit organization that focuses on enhancing housing opportunities for low- and moderate-income families. Their mission is to improve the overall quality of life in Montgomery County by offering safe and affordable housing solutions. Homestart Inc serves various special populations, including disabled veterans, the homeless, those recovering from addiction, and individuals with accessibility needs. They own and manage 36 housing units, providing options such as permanent supportive housing, fully accessible units, and long-term lease purchases. The organization's primary goal is to provide a better living environment for its community members.
Official website here: www.thehousingsource.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Homestart Inc has achieved an impressive 96% score on Charity Navigator, reflecting its strong commitment to accountability and finance. The rating is derived solely from the Accountability & Finance beacon, indicating a solid financial management structure. Notably, the charity has a fully independent board, with all members being independent and compliant with best practices in governance.
The organization demonstrates exemplary financial health, evidenced by its high program expense ratio of 88.78%, which signifies that the majority of its expenses are directed towards program services rather than administrative costs. Additionally, Homestart Inc has no reported material diversion of assets, which further enhances its credibility as a responsible steward of donor funds.
While the rating highlights significant strengths, potential donors may want to delve deeper into Homestart Inc’s program outcomes and impact, as the data primarily focuses on financial metrics and governance practices. Overall, the nonprofit stands out for its transparency and accountability, making it a promising option for those considering support.
This AI summary has been generated from information found on Charity Navigator.
Is Homestart Inc legitimate?
Homestart Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestart Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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For more financial information, click here
Official website here: www.thehousingsource.org
What is the mission statement of Homestart Inc?
Homestart Inc's mission is centered around enhancing the lives of low- and moderate-income individuals. The organization strives to accomplish this by offering safe and affordable housing opportunities. By serving as an owner in lease purchase and rental properties, Homestart Inc caters to various populations, including disabled veterans, the homeless, those recovering from addiction, and those with accessibility needs. The housing options provided by Homestart Inc include permanent supportive housing, fully accessible housing, and long-term lease purchase. In total, the organization owns 36 housing units.
Official website here: www.thehousingsource.org
What is the revenue of Homestart Inc?
Homestart Inc's revenue in 2023 was $364,796.
Official website here: www.thehousingsource.org
Who are the executives of Homestart Inc and what are their salaries?
There 21 volunteers at Homestart Inc.
Here are 25 key members and their salaries:
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Official website here: www.thehousingsource.org
Where can I find the form 990 for Homestart Inc?
Homestart Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thehousingsource.org
Learn more at the official website: www.thehousingsource.org
Mission Statement of Homestart Inc
Homestart Inc, a nonprofit organization, is dedicated to enhancing the living standards of low- and moderate-income residents in an unspecified location. Their primary mission is to achieve this goal by offering safe and affordable housing opportunities. The organization takes on the role of an owner in both lease-purchase and rental properties, making these housing options accessible to families who fall under these income categories. Homestart Inc extends its services to special populations, including disabled veterans, the homeless, individuals recovering from addiction, and those with accessibility needs. Among the housing options provided by Homestart Inc are permanent supportive housing, fully accessible housing, and long-term lease-purchase units. A total of 36 such housing units are currently under the organization's management.
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Impact
July, 2024
Homestart Inc's impact is evident in the improved quality of life for low- and moderate-income residents of Montgomery County. By providing safe, affordable housing opportunities, Homestart Inc directly addresses the housing needs of special populations, including disabled veterans, the homeless, individuals recovering from addiction, and those with accessibility needs. Through initiatives such as permanent supportive housing, fully accessible housing, and long-term lease purchase options, Homestart Inc has positively impacted 36 housing units in Dayton, Ohio. This organization's work goes beyond just providing shelter; it creates a foundation for individuals and families to thrive and contribute to their community.
This information is meant to be a general summary of Homestart Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $21,824
- Program Service Revenue: $298,068
- Gross Receipts: $432,052
Assets and Liabilities:
- Total Assets: $10,754,317
- Total Liabilities: $4,420,489
- Net Assets: $6,333,828
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$209,646
INTEREST INCOME
Revenue
$56,316
DEVELOPER & MGMT. FEES
Revenue
$31,741
OTHER INCOME
Revenue
$365
Organization Details
Founding Year
1988
Principal Officer
Stephen Naas
Website
www.thehousingsource.orgNTEE Category
Code: L20Z - Housing
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