Overview
What is Homestretch Inc?
Homestretch Inc, situated in Falls Church, Virginia, is a nonprofit organization dedicated to aiding homeless families with children. They offer transitional housing assistance through rent, utilities, and expenses, as well as life skills training. The organization also provides essentials such as kitchen furnishings, household furniture, and supplies, obtained through community donations. Homestretch, Inc. currently assists an average of 52 families at any given time, utilizing various housing models including transitional housing, permanent supportive housing, transitioning-in-place, and affordable housing for low-income families. The organization's mission is to help these families secure housing and self-sufficiency.
Official website here: www.homestretchva.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 88%
Homestretch Inc has received a Three-Star out of Four Star rating from Charity Navigator, reflecting an overall score of 88%. This rating indicates strong accountability and financial health, with perfect scores in several key areas such as independent board governance and financial oversight. The organization has demonstrated a solid program expense ratio of 85.46%, which shows that a significant portion of its funding is directed towards its programs, enhancing its credibility.
User feedback from Great Nonprofits highlights the impactful work of Homestretch, with donors noting that the nonprofit makes a tangible difference in the lives of homeless families, helping them transition out of poverty. This positive testimony underlines the effectiveness of its services and the dedication of its staff.
While the organization enjoys commendable ratings and reviews, it is essential to remain aware of any evolving challenges in the nonprofit sector. Continuous evaluation of its financial practices and program outcomes will be crucial for maintaining its reputation and effectiveness in serving the community.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Homestretch Inc legitimate?
Homestretch Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestretch 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: $166,749
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,297,428
For more financial information, click here
Official website here: www.homestretchva.org
What is the mission statement of Homestretch Inc?
Homestretch Inc, as an organization, is committed to aiding homeless families with children in achieving housing stability and self-sufficiency. Through their mission, they offer various forms of temporary housing assistance and life-skills training to these families. This includes covering rent, utilities, and other expenses, as well as providing essential items such as kitchen furnishings and household furniture. Homestretch, Inc. serves an average of 52 families at a time, utilizing a mix of housing models including transitional housing, permanent supportive housing, transitioning-in-place, and affordable housing for low-income families. Their goal is to help these families regain their independence and build a stable future.
Official website here: www.homestretchva.org
Who is the CEO of Homestretch Inc?
Christopher Fay is the President of Homestretch Inc.
Official website here: www.homestretchva.org
What is the revenue of Homestretch Inc?
Homestretch Inc's revenue in 2022 was $3,652,803.
Official website here: www.homestretchva.org
Who are the executives of Homestretch Inc and what are their salaries?
The average compensation at Homestretch Inc during 2022 was $52,292. There are 28 employees at Homestretch Inc.
Here are 18 key members and their salaries:
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- Compensation: $130,491
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- Compensation: $120,436
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- Other: $18,769
Official website here: www.homestretchva.org
Where can I find the form 990 for Homestretch Inc?
Homestretch Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homestretchva.org
Learn more at the official website: www.homestretchva.org
Mission Statement of Homestretch Inc
Homestretch Inc, a non-profit organization, is committed to assisting homeless families with children in securing permanent housing and achieving self-sufficiency. The organization accomplishes this mission by offering various types of temporary housing assistance and providing life-skills training. Homestretch, Inc. provides essential support to families in need by covering rent, utilities, and other expenses, enabling them to focus on improving their lives. Furthermore, the organization offers kitchen furnishings, household furniture, and supplies, sourced from donations in the community.
At any given time, Homestretch Inc serves approximately 52 families, employing a combination of housing models. These models include transitional housing, permanent supportive housing, transitioning-in-place, and affordable housing for low-income families. By utilizing these housing solutions, Homestretch Inc aims to empower families, helping them build a solid foundation for a better future. The organization's comprehensive approach to addressing homelessness not only provides families with temporary housing assistance but also equips them with the necessary life skills to achieve long-term self-sufficiency.
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Impact
July, 2024
Homestretch Inc's impact can be seen in the tangible difference it makes in the lives of homeless families with children. By providing transitional housing assistance, rent and utilities support, life skills training, and essential household items, Homestretch helps these families secure housing and attain self-sufficiency. With an average of 52 families benefiting from their services at any given time, through various housing models, Homestretch plays a crucial role in addressing homelessness and supporting low-income families in Falls Church, VA.
This information is meant to be a general summary of Homestretch 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: $2,481
- Program Service Revenue: $563,743
- Gross Receipts: $3,745,571
Assets and Liabilities:
- Total Assets: $8,185,903
- Total Liabilities: $6,195,493
- Net Assets: $1,990,410
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Client payments
Revenue
$151,468
Kidstretch fees
Revenue
$150,946
Project based vouchers
Revenue
$103,670
HCV income
Revenue
$87,049
Other housing payments
Revenue
$70,610
Organization Details
Founding Year
1998
Phone
(703) 237-2035Principal Officer
Christopher Fay
Main Address
303 South Maple Avenue 400, Falls Church, VA, 22046
Website
www.homestretchva.orgNTEE Category
Code: P20 - Human services
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