Homespace Corporation

Nonprofit profile at a glance

EIN
161360009
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Buffalo, NY, USA
Phone
7168814600
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$4,213,742
Expenses
$4,246,273
Assets
$3,156,149
Liabilities
$158,603

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • CINDI MCEACHON (PRESIDENT)
  • DELAWNDREA PURDUE-GRANT (VICE PRESIDENT)
  • LINDSEY CARTER (EXECUTIVE DIRECTOR / CEO)

Highest reported compensation

  • LINDSEY CARTER (EXECUTIVE DIRECTOR / CEO): $135,085 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Homespace provides comprehensive services to youth and families impacted by the foster care system, and other health disparities, through building on strengths, providing supports, and instilling skills that lay the foundation for successful community living.

What it reported doing in 2025

Homespace provides a safe and nurturing residential environment for youth in foster care and you ng adults transitioning to independence. Through housing, life skills development, educational support, and individualized guidance, homespace empowers the individuals it serves to build stability and become independent members of the community. Homespace also provides housing stabilization and supportive services assisting individuals in the community who need support maintaining safe and stable housing.

Operating model

Revenue model
Earned-program. 85% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.2%; rating input score 93
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: $7.96 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -0.8%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.74; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 93.2% of revenue deployed · 92.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.9M in reported program spending
  • Leadership: top reported pay $135K · 12 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Fundraising efficiency scored 28/100.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.