Homefront Development Corporation

Nonprofit profile at a glance

EIN
141713617
IRS 990 coverage
2012–2020
Forms available
Form 990 2020
Location
Hudson Falls, NY, USA
Phone
5187478250
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$923,550
Expenses
$965,338
Assets
$1,119,109
Liabilities
$898,144

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • BRIAN GILCHRIST (PRESIDENT)
  • GINA CANTANUCCI-MITCHELL (VICE PRESIDENT)
  • SHARON REYNOLDS (EXECUTIVE DIRECTOR)
  • BECKY HEATH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHARON REYNOLDS (EXECUTIVE DIRECTOR): $67,210 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

It is the mission of homefront development corporation to assist low to moderate income homeowners through housing rehabilitation, emergency home repair programs, and management of affordable senior rental housing in Washington and warren counties and to serve as a resource for community development programs in Washington county.

What it reported doing in 2020

The home program and affordable housing corporation (ahc) program are housing rehabilitation programs for low-income single-family homeowners. Both programs are used together to leverage funds for home rehabilitation projects of up to $45,000 per household. At the close of each project, a deferred loan agreement for ten years is recorded at the Washington county clerk's office. Assistance was provided to 15 individuals through this program during the year ended june 30, 2021.

Operating model

Revenue model
Grant-funded. 79% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 96
  • Accountability: 95
  • Sustainability: 28
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.2%; rating input score 94
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 74th percentile among comparable filings
  • 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: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.5%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 1.16; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 14% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: -3.4% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 94.2% of revenue deployed · 90.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $870K in reported program spending
  • Leadership: top reported pay $67K · 8 people listed
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2012 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.