Homestead Main Street Inc

Nonprofit profile at a glance

EIN
650649988
IRS 990 coverage
2009–2014
Forms available
Form 990 2014
Location
Homestead, FL, USA
Phone
3053236564
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$77,228
Expenses
$67,814
Assets
$15,167
Liabilities
$80

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • JOHN R BARNES (President)

Highest reported compensation

  • YVONNE C KNOWLES (Director): $28,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote historic preservation, protection and use of the homestead, Florida traditional downtown area.

What it reported doing in 2014

The organization organized, promoted and participated in activities to provide information and promote interest in the traditional downtown homestead, Florida area.

Operating model

Revenue model
Grant-funded. 67% of the money available for current operations came from government grants.
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 the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 91
  • Accountability: 0
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.4%; rating input score 82
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.2%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 41.3%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 29.8% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 17% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 82.4% of revenue deployed · 93.8% of spending went to programs
  • Governance: 0 of 2 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $64K in reported program spending
  • Leadership: top reported pay $28K · 2 people listed
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2009 to 2014
  • 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.

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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.