Overview
What is First Home Alliance Inc?
First Home Alliance Inc, situated in Woodbridge, Virginia, is a dedicated nonprofit organization. With a team of eight dedicated individuals, they offer a range of homebuyer education programs. Their primary focus is on financial literacy, introducing individuals to home ownership, and providing crucial assistance during foreclosure situations. Moreover, they offer loss mitigation services and one-on-one counseling to help homeowners navigate complex financial challenges. By offering these programs, First Home Alliance Inc aims to empower homebuyers and support them throughout the homeownership process.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating.
First Home Alliance Inc demonstrates strong accountability and financial management, reflected in a Program Expense Ratio of 95.39% and a perfect score for having a fully independent board. The organization excels in community engagement with a Culture & Community Score of 100, indicating effective feedback collection and usage, which showcases its commitment to transparency and responsiveness to stakeholders.
However, the overall rating of 73% signifies room for improvement in certain areas related to financial health and sustainability. While the organization has robust practices and no material diversion of assets, achieving a Two-Star rating suggests that potential donors should consider these factors when evaluating its overall effectiveness and impact.
This AI summary has been generated from information found on Charity Navigator.
Is First Home Alliance Inc legitimate?
First Home Alliance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Home Alliance 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:
Executive Compensation: $87,833
Professional Fundraising Fees: $0
Other Salaries and Wages: $240,812
For more financial information, click here
What is the mission statement of First Home Alliance Inc?
First Home Alliance Inc's mission is centered around providing educational programs aimed at promoting financial literacy and homeownership. Their activities encompass teaching individuals about homeownership, foreclosure prevention, and loss mitigation. The organization offers one-on-one counseling as well, ensuring a personalized approach to each homebuyer's needs. Through these initiatives, First Home Alliance Inc aims to assist numerous individuals in navigating the complexities of homeownership and preventing potential financial challenges.
Who is the CEO of First Home Alliance Inc?
Larry J Laws Sr is the Executive Director of First Home Alliance Inc.
What is the revenue of First Home Alliance Inc?
First Home Alliance Inc's revenue in 2022 was $646,062.
Who are the executives of First Home Alliance Inc and what are their salaries?
The average compensation at First Home Alliance Inc during 2022 was $41,081. There are 8 employees at First Home Alliance Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for First Home Alliance Inc?
First Home Alliance Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Home Alliance Inc
First Home Alliance Inc, as a nonprofit organization, is dedicated to providing homebuyer education programs. Their mission encompasses various aspects of financial literacy, introduction to home ownership, foreclosure prevention, and loss mitigation. Through one-on-one counseling, they aim to assist numerous homebuyers in navigating the complexities of home ownership and financial management. The organization's programs are designed to equip individuals with the necessary skills to avoid foreclosure and manage their home-related financial obligations effectively. By doing so, First Home Alliance Inc contributes to fostering financial stability and homeownership among its clients.
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Impact
July, 2024
First Home Alliance Inc has made a significant impact by providing crucial homebuyer education programs in financial literacy, introduction to home ownership, foreclosure prevention, loss mitigation, and one-on-one counseling. Through these programs, the organization has assisted hundreds of homebuyers in gaining the knowledge and skills necessary to navigate the complexities of purchasing a home and avoiding foreclosure. This has not only empowered individuals and families to make informed decisions about homeownership but has also helped to stabilize communities by promoting responsible and sustainable housing practices.
This information is meant to be a general summary of First Home Alliance 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 2022.
- Gross Receipts: $646,062
Assets and Liabilities:
- Total Assets: $53,259
- Total Liabilities: $300,106
- Net Assets: -$246,847
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Organization Details
Founding Year
2002
Phone
(703) 580-8838Principal Officer
Larry J Laws Sr
Main Address
3138 Golansky Blvd APT 202, Woodbridge, VA, 22192
NTEE Category
Code: L20 - Housing
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