Heart for Home

Nonprofit profile at a glance

EIN
934515452
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Kalamazoo, MI, USA
Phone
2697888000
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Children's, Youth Services

Official website

Reported finances

Revenue
$1,120,795
Expenses
$1,093,240
Assets
$240,632
Liabilities
$168,602

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Johni Bunch (Co-CEO)
  • Michelle Dulaney (Co-CEO)

Highest reported compensation

  • Johni Bunch (Co-CEO): $75,942 total reported compensation
  • Michelle Dulaney (Co-CEO): $75,942 total reported compensation
  • Alisa Otto (Chief Administration Officer): $75,942 total reported compensation

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

Overview

Mission

Heart for Home is committed to connecting foster adoptive and kinship children with supportive and healing homes for respite care. We strive to recruit prepare and support homes before during and after by being honest open-minded and listening to familys needs and concerns in order to connect them with resources to be successful.

What it reported doing in 2024

Heart for Home offers respite care that provides compassionate support stability and a safe haven to foster adoptive and kinship children. Heart for Home aims to create a nurturing environment that respects individual needs fosters strong relationships and promotes well-being allowing families to thrive.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.1%; rating input score 88
  • Program expense ratio: 90.3%; rating input score 90
  • Fundraising efficiency: $0.86 raised per $1 spent on fundraising; rating input score 3; 3rd 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 2.5%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 20.8%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 129.4% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 118.6% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 19.4% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 88.1% of revenue deployed · 90.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $988K in reported program spending
  • Leadership: top reported pay $76K · 7 people listed
  • Consistency: 44 of 44 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.