Homeport

What it reported doing in 2024

Homeport provides programs that offer residents support and the opportunity to keep their homes and families stable, safe, and secure. Homeport's resident services department provides: out of school time programming: offered at 5 communities with a focus on serving children ages 5-13, provided 3-5 afternoons a week (varying per site) for homework assistance, computer lab, and special programs throughout the year to assist families with working parents when school is out including 5 day a week on-site programming at those same communities during the summer. Additionally, new backpacks full of school supplies were provided to 699 homeport youth to start the new school year.food programs: for children: offered at 5 sites provides summer breakfast and lunch to school age children. Take home meals were provided at homeport's 5 largest multifamily sites and was open to all families in the community. Children receive free breakfast and lunch during the summer program, and a free meal during the after school program. For families and seniors: over 200 families received holiday meals, free coats, and holiday gifts through homeport's winter wonderland program. There were 2,623 total visits to produce giveaways in 2024. The service coordination team offers referrals and linkages to internal and community resources for all homeport residents, as well as provide guidance to and advocacy for our residents when appropriate. During 2024, as many of homeport residents continued to face unforeseen hardships and household income loss, service coordinators focused on securing rental and other financial assistance for 266 homeport families totaling $160,618 in assistance. Over 94 evictions and utility shut offs were averted. Overall, 6,500 residents were linked to 5,186 services ranging from food assistance and furniture assistance to financial assistance. Lastly, the service coordination team works throughout the year with residents and on-site property management teams to engage residents and the greater community via community events and discussions with residents to provide updates and to receive programming feedback.

Financial Efficiency

• Mission deployment rate: 99.2%; rating input score 99
• Program expense ratio: 95.8%; rating input score 96
• Fundraising efficiency: $67.81 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 41st percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -3.5%; rating input score 20; 20th percentile among comparable filings
• Total-asset coverage ratio: 2.9; rating input score 74; 74th percentile among comparable filings
• Liabilities to assets ratio: 0.74; rating input score 16; 16th percentile among comparable filings
• Officer compensation ratio: 4%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: 14.2% per year; rating input score 100; 82nd percentile among comparable filings
• Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
• Asset growth: 5.3% per year; rating input score 100; 37th percentile among comparable filings