Home Means Nevada Inc HMN

Nonprofit profile at a glance

EIN
454412372
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
7024868180
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$404,036
Expenses
$404,673
Assets
$107,333
Liabilities
$107,230

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Perry Faigin (President)

Highest reported compensation

  • Michelle D Crumby (Ops Mgr): $79,380 total reported compensation

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

Overview

Mission

Home Means Nevada, Inc. (HMN), a state affiliated nonprofit organization, provides systems, information, and other assistance to address the challenges and needs of distressed homeowners and renters in the State of Nevada. HMN administers the State's Foreclosure Mediation Program, as established with the passage of Senate Bill 490. Senate Bill I, passed during the 32nd Special Session of the Nevada Legislature (2020), implemented a temporary Rental Eviction Mediation Program. On September 29, 2020, the Nevada Supreme Court adopted rules for the Program. On October 14, 2020, HMN was named the Administrator of the program. Assembly Bill 486 passed during the 81st Regular Session of the Nevada Legislature (2021), extended the Rental Eviction Mediation Program, and added a requirement for HMN to create an electronic form for landlord rental assistance program through designated social services agencies. The Rental Eviction Mediation program concluded on December 31, 2022.

What it reported doing in 2024

Home Means Nevada (HMN) performs certain functions of the Foreclosure Mediation Program (FMP) for the State of Nevada. HMN creates certain notices that trustees may serve to the grantors of record on owner-occupied properties. HMN provides to the trustee a certificate if property is an owner-occupied property as defined in NRS 107.086(19)(d) and satisfies the requirement for a certificate as set forth in NRS 107.086(4) or (8) because either: (1) no petition for mediation was filed; (2) the petition for mediation was dismissed, and/or, (3) A court order was issued directing the issuance of a certificate. HMN provides to certain persons a copy of the petition HMN receives to participate in mediation by certified mail or electronically. HMN has developed a portal that can be used by certain parties in order to facilitate the FMP process for the parties involved. Upon completion of mediation the District Court notifies HMN of the case outcome.

Operating model

Revenue model
Grant-funded. 100% 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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 25
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.2%; rating input score 90
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 19.6%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -26% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -8.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -45.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 90.2% of revenue deployed · 90% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $364K in reported program spending
  • Leadership: top reported pay $79K · 5 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.