Homeaid Puget Sound

Nonprofit profile at a glance

EIN
472626294
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2017, Form 990-N 2021
Location
Bellevue, WA, USA
Phone
2068174735
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$167,752
Expenses
$161,343
Assets
$190,381
Liabilities
$8,815

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

Leadership & pay

15 people listed

Executive titles in this filing

  • MARK GRAY (PRESIDENT)
  • BILL SALVESEN (VICE PRESIDENT)
  • MATT JARRELL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MATT JARRELL (EXECUTIVE DIRECTOR): $103,464 total reported compensation

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

Overview

Mission

Homeaid's mission is to help people experiencing or at risk of homelessness build new lives through construction, community engagement and education.

What it reported doing in 2024

Housing development program - remodeling and ground up construction of facilities that serve people experiencing homelessness. Homeaid works with residential and commercial contractors who serve as "builder captains" to complete the projects. The projects are financed by cash contributions as well as in-kind services and building materials from our builder captains and their trade partners.sound cares program - ensures homeaid's investments remain an asset to the community through the maintenance of the shelters built. Volunteers do the work on these projects. This program also coordinates community outreach initiatives, such as food, clothing and diaper drives that benefit local non-profits serving those experiencing homelessness.

Operating model

Revenue model
Donor-supported. 93% 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.

The verdict

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 40
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.3%; rating input score 73
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: $9.46 raised per $1 spent on fundraising; rating input score 38; 38th percentile among comparable filings

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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.8%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 64.1%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -17.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 73.3% of revenue deployed · 76.2% of spending went to programs
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $123K in reported program spending
  • Leadership: top reported pay $103K · 15 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2016 to 2024
  • 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: Fundraising efficiency scored 38/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.