Overview
What is Housing Opportunities Made Economical Inc?
Housing Opportunities Made Economical Inc, situated in Fredericksburg, Virginia, is a nonprofit organization dedicated to enhancing housing opportunities for individuals with disabilities. With a modest workforce of two, the organization engages in constructing, purchasing, renovating, and managing barrier-free, affordable dwellings. Their primary mission revolves around providing accessible housing, ensuring individuals with disabilities can live comfortably and independently.
Official website here: www.homeinc.us
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 61%)
Housing Opportunities Made Economical Inc has received a Two-Star rating from Charity Navigator, indicating that while the organization demonstrates some level of accountability and transparency, there are significant areas needing improvement. The overall score of 61% reflects strengths in having a fully independent board and a high program expense ratio, showing a commitment to its mission and effective allocation of resources towards programs.
However, there are notable weaknesses in the organization's financial reporting and governance practices. The absence of financial statements and a whistleblower policy, along with missing documentation for tax forms, raises concerns about transparency and accountability. Additionally, the liability to assets ratio is relatively high, suggesting potential financial risks that could affect the organization’s sustainability in the long term.
Overall, while Housing Opportunities Made Economical Inc has strengths in governance and program spending, it needs to address its gaps in financial reporting and policy documentation to improve its rating and enhance trust with stakeholders and potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Opportunities Made Economical Inc legitimate?
Housing Opportunities Made Economical Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Opportunities Made Economical 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: $58,424
For more financial information, click here
Official website here: www.homeinc.us
What is the mission statement of Housing Opportunities Made Economical Inc?
Housing Opportunities Made Economical Inc, often referred to as H.O.M.E. INC., is dedicated to providing accessible housing options for individuals with disabilities. This non-profit organization takes active steps to achieve this mission by constructing, purchasing, renovating, and managing barrier-free, affordable housing units specifically designed for people with disabilities. Their goal is to ensure that everyone, regardless of their physical abilities, has access to suitable living spaces.
Official website here: www.homeinc.us
Who is the CEO of Housing Opportunities Made Economical Inc?
Paul Desilets is the Vp/Treasurer of Housing Opportunities Made Economical Inc. The CEO's salary of Housing Opportunities Made Economical Inc is $0 and their total compensation is $0.
Official website here: www.homeinc.us
What is the revenue of Housing Opportunities Made Economical Inc?
Housing Opportunities Made Economical Inc's revenue in 2022 was $877,326.
Official website here: www.homeinc.us
Who are the executives of Housing Opportunities Made Economical Inc and what are their salaries?
The average compensation at Housing Opportunities Made Economical Inc during 2022 was $29,212. There are 2 employees at Housing Opportunities Made Economical Inc.
Here are 5 key members and their salaries (Housing Opportunities Made Economical Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.homeinc.us
Where can I find the form 990 for Housing Opportunities Made Economical Inc?
Housing Opportunities Made Economical Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homeinc.us
Learn more at the official website: www.homeinc.us
Mission Statement of Housing Opportunities Made Economical Inc
Housing Opportunities Made Economical Inc, often referred to as H.O.M.E. INC., is dedicated to a noble mission. This nonprofit organization focuses on providing accessible housing for individuals with disabilities. In pursuit of this goal, H.O.M.E. INC. engages in various activities. They construct, purchase, renovate, and manage barrier-free housing units that are affordable for individuals with disabilities. This commitment to inclusivity and accessibility allows these individuals to live with dignity and independence, thereby enhancing their overall quality of life.
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Impact
July, 2024
Housing Opportunities Made Economical Inc's impact lies in providing accessible housing for people with disabilities. H.O.M.E. Inc. builds, buys, renovates, and manages barrier-free, affordable housing for individuals with disabilities in Fredericksburg, VA. Their mission is to create opportunities for those with disabilities to live independently and comfortably in suitable housing. Through their efforts, H.O.M.E. Inc. contributes to enhancing the quality of life and fostering inclusivity for this marginalized population.
This information is meant to be a general summary of Housing Opportunities Made Economical 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: $1,445
- Program Service Revenue: $549,575
- Gross Receipts: $877,326
Assets and Liabilities:
- Total Assets: $2,892,806
- Total Liabilities: $1,909,603
- Net Assets: $983,203
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$549,575
Organization Details
Founding Year
1998
Phone
(540) 361-7477Principal Officer
Paul Desilets
Main Address
1907 CHARLES STREET, FREDERICKSBURG, VA, 22401
Website
www.homeinc.usNTEE Category
Code: L210 - Housing
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