HomeStart Inc

Overview

Mission

To end homelessness in Greater Boston by assisting individuals in obtaining permanent housing and settling into the community, and by developing strategies to address systemic barriers to housing placement.

What it reported doing in 2023

Housing stabilization and resource services to aid participants with integration into the community and maintain successful housing. Services include landlord mediation, money management, and supportive housing assistance. Approximately 375 clients served.

Operating model

Revenue model
Grant-funded. 74% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
043311270
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Headquarters
Boston, MA, USA
Phone
6175420338
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 74
  • Accountability: 90
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.3%; rating input score 91
  • Program expense ratio: 91.6%; rating input score 92
  • Fundraising efficiency: $45.6 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 17.3% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 91.3% of revenue deployed · 91.6% of spending went to programs
  • Governance: 10 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $18.2M in reported program spending
  • Leadership: top reported pay $177K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 annual filings from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

17 people listed

Highest reported compensation

  • Matthew Pritchard (President/Executive Director): $177,139 total reported compensation
  • Kelly Mulligan (Chief Program Officer): $145,444 total reported compensation
  • Patricia Robinson (Director of Finance): $139,329 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.