Overview
What is Herohomes Inc?
Herohomes Inc, a 501(c)3 nonprofit organization based in Purcellville, Virginia, is dedicated to supporting disabled veterans and their families. Their mission is to provide housing, jobs, and a sense of community for individuals who have valiantly protected freedom and democracy for others. Established in 2015, Herohomes has successfully completed and awarded five homes to deserving veterans, with plans underway for another home on a new building lot. Through their initiatives, disabled veterans and their families are given the opportunity to reintegrate into society with the pride and security of homeownership. Their efforts not only provide a new start but also help build a strong foundation for their future.
Official website here: www.herohomesloudoun.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66%, Two-Star out of Four Star rating
Herohomes Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The organization scored 66% overall, which reflects areas of strength and concern. Notably, the charity has a strong Program Expense Ratio of 99.32%, showing that it allocates a significant majority of its resources directly to programs rather than administrative costs.
However, the organization shows weaknesses in governance, as it has no independent board members and lacks transparency in its financial reporting, having no financial statements available. This raises concerns about oversight and accountability. While it has a solid Conflict of Interest Policy and adheres to practices like document retention and whistleblower policies, the absence of independent board members could limit diverse perspectives in decision-making.
Overall, while Herohomes Inc exhibits strong programmatic spending, the lack of independent oversight and the absence of financial statements indicate areas where improvement is needed to enhance transparency and governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Herohomes Inc legitimate?
Herohomes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Herohomes 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.herohomesloudoun.org
What is the mission statement of Herohomes Inc?
Herohomes Inc, as a not-for-profit organization, is dedicated to building houses, providing job opportunities, and fostering a community for individuals who have served in defense of freedom and democracy. The mission of Herohomes Inc is to offer these veterans and their families a fresh start and the dignity of independent living in a small town setting, by providing them with the opportunity to own a home. Fundraising for land purchases and home construction began in 2015, with the first home being awarded in 2017. As of 2022, Herohomes Inc has provided five homes to deserving veterans, with plans for building more in the future.
Official website here: www.herohomesloudoun.org
What is the revenue of Herohomes Inc?
Herohomes Inc's revenue in 2023 was $107,244.
Official website here: www.herohomesloudoun.org
Who are the executives of Herohomes Inc and what are their salaries?
Here are 5 key members and their salaries:
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Official website here: www.herohomesloudoun.org
Where can I find the form 990 for Herohomes Inc?
Herohomes Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.herohomesloudoun.org
Learn more at the official website: www.herohomesloudoun.org
Mission Statement of Herohomes Inc
Herohomes Inc, a 501(c)3 not-for-profit foundation, is dedicated to building houses, creating job opportunities, and fostering community for those who have valiantly fought for the preservation of freedom and democracy for others. Their mission statement, in essence, is to provide disabled veterans and their families with a fresh start, constructing solid foundations for their future and instilling the dignity of independent living in a charming small-town community setting. Through fundraising efforts, Herohomes Inc has been able to donate homes to deserving veterans since 2017, with five houses given away as of 2022. The organization is currently planning and constructing a building lot for their sixth home.
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Impact
July, 2024
Herohomes Inc's impact is profound and invaluable. By building houses and creating a community for disabled veterans and their families, Herohomes is providing these heroes with a fresh start and the opportunity for a secure and dignified life. Through their Home Award Program, Herohomes has awarded homes to deserving veterans, allowing them to rejoin society with the pride of homeownership. This initiative not only addresses the housing needs of disabled veterans but also fosters a sense of belonging and support within a small town community setting. Additionally, by providing jobs and stability, Herohomes is making a tangible difference in the lives of those who have fought for the preservation of freedom and democracy. Their commitment to empowering veterans and honoring their service is commendable and vital in supporting those who have sacrificed so much for our country.
This information is meant to be a general summary of Herohomes 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: $23
- Gross Receipts: $172,242
Assets and Liabilities:
- Total Assets: $487,459
- Total Liabilities: $0
- Net Assets: $487,459
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Organization Details
Founding Year
2015
Principal Officer
Matt Lowers
Website
www.herohomesloudoun.orgNTEE Category
Code: P40 - Human services
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