Furniture Project Omaha

Nonprofit profile at a glance

EIN
833909969
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-N 2020
Location
Omaha, NE, USA
Phone
4022033058
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$1,251,628
Expenses
$1,405,269
Assets
$607,991
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Matt Hoppe (Executive Director)
  • Drew Gerken (President/Community Outreach/Founder)
  • Jay Koehn (Vice President)

Highest reported compensation

  • Matt Hoppe (Executive Director): $117,231 total reported compensation
  • Drew Gerken (President/Community Outreach/Founder): $57,808 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide assistance to those in-need within our community. We want to not only provide furniture but also inspire hope to show them that their neighbors care about them.

What it reported doing in 2024

The Furniture Project provides families and individuals who are pursuing stable housing with quality furniture and household goods to stabilize and improve lives while effectively using community resources.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92%; rating input score 92
  • Fundraising efficiency: $32.24 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.3%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 12.5%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 81.3% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 56.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 46.1% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $117K · 6 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.