Overview
What is Homes In Partnership Inc?
Homes In Partnership Inc, located in Eustis, Florida, is a dedicated nonprofit organization that focuses on providing affordable housing solutions for low-income families and individuals. They receive administrative funding through a USDA Rural Housing Section 523 Grant, enabling them to carry out their mission. The organization delivers an extensive range of counseling services, including budgeting, credit, homebuyer education, and foreclosure prevention, all of which are free for participants. Successful participants, who meet income and credit score requirements, can secure mortgage loans. The nonprofit encourages self-help by having participants provide labor on their homes, thereby making mortgages more affordable. Homes In Partnership Inc's staff offers technical assistance in loan applications, processing, and compliance, as well as training in various tasks, ensuring a smooth and successful home-building process. Their mission is to improve the economic conditions of their served communities by providing safe, decent, and affordable housing to very low to moderate-income individuals.
Official website here: www.homesip.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Homes In Partnership Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization scored an impressive 96% in Accountability & Finance, underscoring its effective management and transparent operations. Significant aspects contributing to this rating include 100% independent board members and robust financial oversight, indicating a well-governed organization.
The nonprofit demonstrates a high level of fiscal responsibility, as evidenced by a program expense ratio of 93.42%, which means that the vast majority of its expenditures directly support its mission. Additionally, the absence of material diversions of assets further illustrates its integrity in fund management. The presence of essential policies, such as conflict of interest and whistleblower protections, enhances its credibility and operational transparency.
While the data is overwhelmingly positive, it is important for potential donors and stakeholders to consider the overall impact of the organization's programs and services. The focus on accountability and finance is commendable; however, the effectiveness of its programs in achieving its mission would provide a fuller picture of its performance and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Homes In Partnership Inc legitimate?
Homes In Partnership Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homes In Partnership 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: $257,642
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,308,063
For more financial information, click here
Official website here: www.homesip.org
What is the mission statement of Homes In Partnership Inc?
Homes In Partnership Inc's mission is centered around providing assistance to individuals with low to moderate income, aiming to help them become homeowners. The organization achieves this through a self-help housing initiative, funded by a USDA Rural Housing Section 523 Grant. Their mission extends to improving the economic conditions of the communities they serve, by offering affordable housing options. Participants in their program receive extensive budget and credit counseling, homebuyer education, and foreclosure prevention workshops, all of which are free. To make mortgages more affordable, successful participants contribute labor, or sweat equity, to their homes. The organization's experienced staff provides technical assistance in loan applications, processing, and scheduling, among other tasks, to help participants complete their home construction projects successfully.
Official website here: www.homesip.org
What is the revenue of Homes In Partnership Inc?
Homes In Partnership Inc's revenue in 2023 was $4,782,748.
Official website here: www.homesip.org
Who are the executives of Homes In Partnership Inc and what are their salaries?
The average compensation at Homes In Partnership Inc during 2023 was $82,406. There are 19 employees and 8 volunteers at Homes In Partnership Inc.
Here are 10 key members and their salaries:
- Compensation: $143,395
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- Compensation: $114,247
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Official website here: www.homesip.org
Where can I find the form 990 for Homes In Partnership Inc?
Homes In Partnership Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.homesip.org
Learn more at the official website: www.homesip.org
Mission Statement of Homes In Partnership Inc
Homes In Partnership Inc, a nonprofit organization, is dedicated to providing safe, decent, and affordable housing to individuals and families with low to moderate incomes. Their mission is to improve the economic conditions of the communities they serve. To achieve this, Homes In Partnership Inc provides technical assistance to homebuyers through a self-help housing initiative. This program is funded by the USDA Rural Housing Section 523 Grant.
The technical assistance offered by Homes In Partnership Inc is comprehensive, encompassing budget and credit counseling, homebuyer education, and foreclosure prevention counseling. These services are all provided free of charge to participants. Successful participants must meet certain income and credit score requirements to secure mortgage loans. To make mortgages more affordable, participants contribute labor, or sweat equity, to their homes. Homes In Partnership Inc's experienced staff provides technical assistance in loan applications, processing, and scheduling subcontractors. They also help with color selections, plans and engineering, lot selections, and labor training to assist participants in completing tasks on their homes. The grant income funds support administrative functions connected to this program.
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Impact
July, 2024
Homes In Partnership Inc's impact is significant in providing technical assistance to very low to moderate income home buyers through a self-help housing initiative. By utilizing the USDA Rural Housing Section 523 grant, the organization enables very low and low-income families and individuals to access affordable housing. Participants in the program receive extensive budget and credit counseling, homebuyer education, and foreclosure prevention counseling - all free of charge. Through sweat equity, participants reduce costs to make mortgages more affordable, while the experienced staff guides them through the loan application process, subcontractor compliance, color selections, and more. Overall, the organization's mission to provide safe, decent, and affordable housing contributes to improving the economic conditions of the communities they serve, making a tangible difference in the lives of those in need.
This information is meant to be a general summary of Homes In Partnership 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: $17,164
- Program Service Revenue: $2,308,938
- Gross Receipts: $4,782,748
Assets and Liabilities:
- Total Assets: $9,616,898
- Total Liabilities: $405,523
- Net Assets: $9,211,375
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOME LOTS & HOUSES
Revenue
$2,110,974
RENTAL INCOME
Revenue
$197,964
Organization Details
Founding Year
1975
Principal Officer
Kenneth Goodwin
Website
www.homesip.orgNTEE Category
Code: L200 - Housing
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