Home4me

Nonprofit profile at a glance

EIN
822587130
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2019
Location
Charlotte, NC, USA
Phone
7045675118
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Foster Care

Reported finances

Revenue
$92,646
Expenses
$86,415
Assets
$10,734
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DONNA L REED (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DONNA L REED (EXECUTIVE DIRECTOR): $60,000 total reported compensation
  • NADINE JAMES (PART TIME ADMIN): $2,400 total reported compensation

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

Overview

Mission

Home4me is a voice for teens in foster care empowers teens aging out of the foster care system by providing hope, opportunities, mentoring, education(home), and a sense of family.

What it reported doing in 2024

A day in real life is a series of hands on life skills and assimilations that teach real life skills, financial literacy, college prep and which educational path to your goals, dreams and ambitions. From making your bed, washing clothes and cleaning house to dental hygiene, cooking in vs eating out, we teach everyday life skills that are missing in todays society. From credit to driver license, we make sure our young people are achieving aga appropriate goals, skills and receiving knowledge, opportunities and tools to be successful young productive assets to the community. Essentials - bed-in-a-bags, fill-a-suitcase, gift cards, teens in foster care resources end on their 18th birthday. While in the system the average move is 6 times or more. Youth are given a black garbage bag to move their items which has a negative on their self-esteem and mental health. Home4me provides them with a new suitcase filled with towels sets, sheet sets, an umbrella, resources and gift cards. They also receeive a bed-in-a-bag because we dont know what situation they are going into, but we do know they cannot control the temperature and we would rather they have a blanket to kick off if it is hot than to not have one and its cold. We also make sure at every event we host a workshop event assimilation that they receive a gift card to purchase what they want.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 90
  • Accountability: 83
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.1%; rating input score 44
  • Program expense ratio: 65%; rating input score 65
  • Fundraising efficiency: $5.89 raised per $1 spent on fundraising; rating input score 42; 42nd 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: 85.7%; rating input score 86; 26th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 6.7%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 72.2%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 24.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 44.1% of revenue deployed · 65% of spending went to programs
  • Governance: 6 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $56K in reported program spending
  • Leadership: top reported pay $60K · 8 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.