Homer Foundation

Nonprofit profile at a glance

EIN
920139183
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Homer, AK, USA
Phone
9072350541
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scouting

Official website

Reported finances

Revenue
$2,266,286
Expenses
$1,130,731
Assets
$8,998,883
Liabilities
$574,171

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Paula Martin (Vice President)
  • Denise Pitzman (President)

Highest reported compensation

  • Stacey Schultz (Executive Dir.): $41,313 total reported compensation

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

Overview

Mission

To enhance the quality of life for the citizens of the greater Homer area by promoting philanthropic and charitable activities.

What it reported doing in 2024

Impact Grants: Year round grants program to support large capital projects or staff development activities in the community. These grants are reviewed by the Board of Trustees and are meant to exhibit the following criteria: Demonstrate substantial and measurable impact on the quality of life of the service area.Demonstrate needs which arose due to a sudden, unexpected change in funding.Demonstrate substantial collaborationLeverage significant other fundingBe a lasting benefitDemonstrate sustainability

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • 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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 76
  • Accountability: 90
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.2%; rating input score 40
  • Program expense ratio: 67.6%; rating input score 68
  • Fundraising efficiency: $34.22 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 41.3%; rating input score 41; 14th 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: 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: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 50.1%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 7.96; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 40.2% of revenue deployed · 67.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $764K in reported program spending
  • Leadership: top reported pay $41K · 12 people listed
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 7 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 41/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.