Homecomings Inc (Fka Chapel Lane Housing Inc)

Nonprofit profile at a glance

EIN
061713301
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Ventura, CA, USA
Phone
8056485008
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management
Affiliation
Christianity

Reported finances

Revenue
$3,250,739
Expenses
$187,027
Assets
$12,203,349
Liabilities
$932,692

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JEFFREY LAMBERT (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JEFFREY LAMBERT (EXECUTIVE DIRECTOR): $288,988 total reported compensation
  • JOE NOCELLA (CFO): $176,343 total reported compensation

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

Overview

Mission

The specific charitable and public purposes are to benefit and support the housing authority of the city of san buenaventura by providing, developing, financing, rehabilitating, owning and operating decent, safe and sanitary housing affordable to persons and households of low income where no adequate housing exists for such groups.

What it reported doing in 2024

Investments in ten low income properties through owning them as the sole member/owner or managing member of the following limited liability companies:- encanto del mar apartments, llc (a single member llc with homecomings, inc. As the sole member/owner) - representing an ownership interest as a general partner of encanto del mar apartments, l.p., which owns and operates a 37 unit senior housing apartment complex for low income seniors located in ventura, California.- soho housing llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of soho associates, l.p., which owns and operates a 12 unit multifamily housing apartment complex for low income households located in ventura, California.- vista del mar commons llc (llc with homecomings, inc. As the managing member)- representing an ownership interest as a general partner of vista del mar commons, l.p., which owns and operates a 140 unit multifamily housing apartment complex for low income households located in ventura, California.- castillo del sol llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of castillo del sol apartments, l.p., which owns and operates a 40 unit multifamily housing apartment complex for low income households located in ventura, California.- johnson gardens llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of johnson gardens, l.p., which owns and operates a 101 unit multifamily housing apartment complex for low income households located in ventura, California.- buena vida llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of buena vida, l.p., which owns and operates a 95 unit multifamily housing apartment complex for low income households located in ventura, California.- rancho verde llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of rancho verde ventura, l.p., which owns and operates a 24 unit multifamily housing apartment complex for low income households located in ventura, California.- el portal ventura llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of el portal ventura, l.p., which owns and operates a 29 unit multifamily housing apartment complex for low income households located in ventura, California.- willett ranch llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of willett ranch, l.p., which owns and operates a 50 unit multifamily housing apartment complex for low income households located in ventura, California.- villages at westview i llc (llc with homecomings, inc. As the 60% member)- representing an ownership interest as a general partner of villages at westview i, l.p., which owns and operates a 131 unit multifamily housing apartment complex for low income households located in ventura, California.- valentine road llc (a single member llc with homecomings, inc. As the sole member/owner)- representing an ownership interest as a general partner of valentine road, l.p., which owns and operates a 133 unit multifamily housing apartment complex for low income households located in ventura, California.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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

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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 64
  • Accountability: 82
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 5.8%; rating input score 6
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 94.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 65.25; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 248.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 32.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 35.8% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 5.8% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $187K in reported program spending
  • Leadership: top reported pay $289K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 22 filed related-organization links
  • 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: Mission deployment rate scored 6/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.