Homes for Independence Inc

Nonprofit profile at a glance

EIN
593342379
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Clearwater, FL, USA
Phone
7275387370
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$469,462
Expenses
$2,330,869
Assets
$8,483,698
Liabilities
$20,570,060

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

Leadership & pay

16 people listed

Executive titles in this filing

  • Bruce Patterson (President/CEO)
  • Matthew Motko (Executive Director)

Highest reported compensation

  • Bruce Patterson (President/CEO): $668,285 total reported compensation
  • Kenneth Crum (Chief Operating Officer): $400,955 total reported compensation
  • Nathaniel Hoover (Chief Financial Officer): $377,786 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 provide low-income housing to individuals with severe disabilities.

What it reported doing in 2024

The organization rents rehabilitated housing facilities to people with significant physical disabilities who are classified as low-income.

Operating model

Revenue model
Earned-program. 86% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 65.2%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: -396.5%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 3.64; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 2.42; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 24.1%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 65.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $668K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 33 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 — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.