Homeownership Preservation Foundation

Nonprofit profile at a glance

EIN
522403507
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Farmington Hills, MI, USA
Phone
2485535400
Rating
72
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Financial Counseling

Official website

Reported finances

Revenue
$11,246,874
Expenses
$11,507,338
Assets
$12,080,154
Liabilities
$3,229,956

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

Leadership & pay

18 people listed

Executive titles in this filing

  • KRISTEN HOLT (PRESIDENT & CEO)

Highest reported compensation

  • KRISTEN HOLT (PRESIDENT & CEO): $519,626 total reported compensation
  • SIREESHA MANDAVA (CIO): $363,878 total reported compensation
  • RICHARD BIALOBRZESKI (CHIEF BUSINESS DEVELOPMENT OFFICER): $304,655 total reported compensation

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

Overview

Mission

Provides education and counseling to financially distressed homeowners to preserve and promote homeownership.

What it reported doing in 2024

General counseling: hpf provides comprehensive homeowner education and confidential foreclosure prevention counseling at no cost to homeowners through the homeowner's 995hope hotline. Certified housing counselors, through affiliated hud-approved nonprofit agencies, serve the homeowner's 995hope hotline. The hotline is available 24x7 and offers extended live operator hours m-th 8 am-10 pm est, and f 8 am-8 pm est. The homeowner's 995hope hotline has received more than nine million calls and has counseled over two million homeowners since 2007. The hotline received nearly 40,000 calls from homeowners seeking assistance navigating financial hardships and stress impacting their housing stability in 2024. Hpf clients receive one-on-one counseling and education focused on their unique financial circumstances and their housing goals. Callers are better equipped and confident to make sound financial decisions after participating in housing counseling.

Operating model

Revenue model
Earned-program. 97% 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 - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 55
  • Accountability: 91
  • Sustainability: 36
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.9%; rating input score 97
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 0; 0th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 4th 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: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: -2.3%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -13.5% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -14.1% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -9.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $11.1M in reported program spending
  • Leadership: top reported pay $520K · 18 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $8.4M reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.