Overview
What is Homesfund?
Homesfund is a nonprofit organization based in Durango, Colorado, situated at 150 E 9th St Suite 207. Its primary mission is to alleviate the burden of government in La Plata County by promoting and facilitating the creation and provision of affordable housing for lower-income households in La Plata and surrounding communities. Homesfund achieves this goal through its Home Buyer Assistance Program, which provides pre-purchase counseling and education to eligible households. Furthermore, the program offers financial assistance to multiple new homeowners by lending thousands of dollars for shared appreciation silent second mortgages, making homeownership more attainable. With a workforce of seven dedicated individuals, Homesfund plays a vital role in fostering affordable housing opportunities and improving the living conditions of those in need.
Official website here: www.homesfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating). Homesfund has demonstrated a strong commitment to accountability and financial transparency, earning a solid score of 88%. This rating reflects the organization’s effective management and oversight practices, including a fully independent board and comprehensive financial statements.
Strengths of Homesfund include a full complement of independent board members, a robust audit and oversight committee, and clear policies regarding conflicts of interest and document retention. The organization has also successfully maintained a low ratio of liabilities to assets, indicating sound financial health. Additionally, Homesfund allocates a significant portion of its budget to program expenses, further showcasing its focus on mission-driven efforts.
However, there is a noted limitation regarding the absence of a whistleblower policy, which could be an area for improvement in terms of governance practices. Despite this, the organization’s overall ratings highlight its dedication to responsible charity management and effective service delivery.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Homesfund?
86% of reviewers on Facebook recommend Homesfund, highlighting a positive sentiment towards the organization. Here is a summary of their thoughts:
Many users express enthusiasm about their involvement with the nonprofit, emphasizing its commitment to helping individuals achieve homeownership. The organization's efforts to make homeownership accessible are appreciated, with participants feeling their dreams are supported and encouraged.
Overall, it seems that Homesfund is making a meaningful impact in the lives of those it serves, fostering a community spirit and a sense of accomplishment among its supporters.
This AI summary has been generated from reviews found on Facebook.
Is Homesfund legitimate?
Homesfund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homesfund 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: $184,316
Professional Fundraising Fees: $0
Other Salaries and Wages: $198,864
For more financial information, click here
Official website here: www.homesfund.org
What is the mission statement of Homesfund?
Homesfund's mission is to alleviate the burden on lower-income households by promoting the creation and provision of affordable housing in various communities. By supporting this initiative, Homesfund aims to contribute to reducing housing-related challenges. Their activities include providing pre-purchase counseling and education to households, as well as offering financial assistance through shared appreciation silent second mortgages, enabling numerous individuals to become homeowners.
Official website here: www.homesfund.org
Who is the CEO of Homesfund?
Lisa Bloomquist is the Chair of Homesfund.
Official website here: www.homesfund.org
What is the revenue of Homesfund?
Homesfund's revenue in 2022 was $1,091,718.
Official website here: www.homesfund.org
Who are the executives of Homesfund and what are their salaries?
The average compensation at Homesfund during 2022 was $54,740. There are 7 employees and 20 volunteers at Homesfund.
Here are 9 key members and their salaries:
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- Compensation: $95,685
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- Other: $12,322
- Compensation: $88,632
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- Other: $16,247
Official website here: www.homesfund.org
Where can I find the form 990 for Homesfund?
Homesfund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homesfund.org
Learn more at the official website: www.homesfund.org
Mission Statement of Homesfund
Homesfund, a nonprofit organization, aims to alleviate the burden on local government in La Plata County, Colorado, by promoting and facilitating the creation and provision of affordable housing for lower-income households in La Plata and surrounding communities. Their mission is centered around supporting the development of affordable living spaces, thereby addressing a significant need within these communities.
Through their Home Buyer Assistance Program, Homesfund provides pre-purchase counseling and education to eligible households. Beyond this, the program extends financial assistance to numerous new homeowners by offering shared appreciation silent second mortgages, enabling them to acquire homes that they may not have been able to otherwise. This initiative is a testament to Homesfund's commitment to making housing more accessible and affordable for lower-income families, thereby contributing to the overall well-being of the communities they serve.
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Impact
July, 2024
Homesfund's impact lies in lessening the burdens on government in La Plata County, Colorado, by supporting the creation and provision of affordable housing to lower-income households in La Plata and surrounding communities. Through programs like the Home Buyer Assistance Program, Homesfund provides pre-purchase counseling and education to households and enables multiple new homeowners to purchase a home by lending thousands of dollars for shared appreciation silent second mortgages. This impactful work directly addresses the critical need for affordable housing in the region, helping to improve the lives of individuals and families facing housing challenges.
This information is meant to be a general summary of Homesfund. 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: $148,148
- Program Service Revenue: $319,752
- Gross Receipts: $1,140,273
Assets and Liabilities:
- Total Assets: $14,229,382
- Total Liabilities: $2,206,131
- Net Assets: $12,023,251
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$319,752
Organization Details
Founding Year
2008
Phone
(970) 259-1418Principal Officer
Lisa Bloomquist
Main Address
150 E 9TH ST SUITE 207, DURANGO, CO, 81301
Website
www.homesfund.orgNTEE Category
Code: L82 - Housing
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