Overview
What is Homes Are Possible Inc?
Homes Are Possible Inc, based in Aberdeen, South Dakota, serves as a nonprofit organization dedicated to empowering low and moderate-income individuals and families in securing decent housing. They accomplish this by administering grant funds, which can be utilized for purchasing and rehabilitating homes. To be eligible for these funds, applicants must meet specific income criteria and attend homeownership classes provided by the organization. Furthermore, Homes Are Possible Inc offers affordable housing program grants for low-income families, which can be put towards expenses such as down-payments, principal reductions, closing costs, and home improvements. With a workforce of six individuals, the organization strives to foster opportunities for better housing and improve the lives of those in need.
Official website here: www.homesarepossible.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Homes Are Possible Inc has received an overall score of 88%, reflecting a strong commitment to accountability and financial management. The organization boasts a fully independent board, with 100% of its members meeting this criterion, and has received high marks for its financial statements and low liabilities to assets ratio. Additionally, the program expense ratio is commendable at 82.81%, indicating that a significant portion of funds is directed toward its programs.
However, there are some areas where the organization can improve. Notably, it lacks essential policies such as a Whistleblower Policy and Document Retention and Destruction Policy, which may raise concerns about governance practices. Furthermore, the absence of a posted tax form on the nonprofit's website could affect transparency.
Overall, while Homes Are Possible Inc demonstrates strong financial accountability, addressing the noted limitations could enhance its governance and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Homes Are Possible Inc legitimate?
Homes Are Possible Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homes Are Possible 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: $134,512
Professional Fundraising Fees: $0
Other Salaries and Wages: $141,607
For more financial information, click here
Official website here: www.homesarepossible.org
What is the mission statement of Homes Are Possible Inc?
Homes Are Possible Inc's mission is centered around assisting low-income individuals and families in securing decent housing. The organization facilitates this by administering grant funds to eligible homeowners, enabling them to purchase and renovate homes. To be eligible, applicants must meet income criteria and participate in home ownership classes provided by the organization. Additionally, Homes Are Possible Inc offers affordable housing program grants to low-income families, which can be utilized for down-payments, principal reductions, closing costs, and home improvements.
Official website here: www.homesarepossible.org
Who is the CEO of Homes Are Possible Inc?
Cindi Walsh is the Treasurer of Homes Are Possible Inc.
Official website here: www.homesarepossible.org
What is the revenue of Homes Are Possible Inc?
Homes Are Possible Inc's revenue in 2022 was $1,269,943.
Official website here: www.homesarepossible.org
Who are the executives of Homes Are Possible Inc and what are their salaries?
The average compensation at Homes Are Possible Inc during 2022 was $46,020. There are 6 employees at Homes Are Possible Inc.
Here are 18 key members and their salaries:
- Compensation: $105,431
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- Other: $3,163
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Official website here: www.homesarepossible.org
Where can I find the form 990 for Homes Are Possible Inc?
Homes Are Possible Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homesarepossible.org
Learn more at the official website: www.homesarepossible.org
Mission Statement of Homes Are Possible Inc
Homes Are Possible Inc is committed to facilitating and aiding low-income individuals and families in securing decent quality homes. Their mission is centered around providing assistance, ensuring that eligible individuals can purchase and renovate houses through the use of grant funds. To be eligible for these funds, applicants must meet specific income criteria and participate in home ownership classes offered by the organization. Apart from grant funds, Homes Are Possible Inc also offers affordable housing program grants for low-income families. These grants can be utilized for various purposes, including down payments, principal reductions, closing costs, and home improvements. Overall, Homes Are Possible Inc works tirelessly to assist individuals and families in securing good quality homes, thereby making home ownership more accessible and attainable.
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Impact
July, 2024
Homes Are Possible Inc facilitates and assists low and moderate-income individuals and families in securing good quality homes. Through their grant programs, they provide financial assistance to individuals to purchase and rehabilitate homes, helping these families achieve homeownership. By offering support tailored to the specific needs of each household and requiring participation in homeownership classes, HAPI ensures that recipients are equipped with the necessary knowledge and resources to maintain their homes successfully. Additionally, their affordable housing program grants offer further opportunities for low-income families to access funds for essential homeownership expenses like down payments, closing costs, and home improvements. Overall, Homes Are Possible Inc's impact is evident in their commitment to making homeownership a reality for those who may not otherwise have the means to achieve it.
This information is meant to be a general summary of Homes Are Possible 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.
- Investment Income: $30,578
- Program Service Revenue: $5,728
- Gross Receipts: $4,091,556
Assets and Liabilities:
- Total Assets: $6,668,075
- Total Liabilities: $109,877
- Net Assets: $6,558,198
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AHP Fee
Revenue
$5,728
Organization Details
Founding Year
1997
Phone
(605) 225-4274Principal Officer
Cindi Walsh
Main Address
320 S Main Street, Aberdeen, SD, 57401
Website
www.homesarepossible.orgNTEE Category
Code: L80 - Housing
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