Homestretch Inc

Nonprofit profile at a glance

EIN
582051038
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Roswell, GA, USA
Phone
7706429185
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$808,726
Expenses
$1,339,235
Assets
$2,321,971
Liabilities
$521,868

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

Leadership & pay

15 people listed

Executive titles in this filing

  • BOB HAGAN (PRESIDENT EMERITUS)
  • KENNETH ALLEN (PRESIDENT)
  • LEE HOLLINGSWORTH (VICE PRESIDENT)
  • CHERYL CARTER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHERYL CARTER (EXECUTIVE DIRECTOR): $110,994 total reported compensation

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

Overview

Mission

Homestretch supports and guides working, homeless families toward stability in finances, employment, housing and family-life. Their goal is that each graduating family moves into permanent, sustainable housing with improved employment, reduced debt and most importantly the skills and knowledge to prevent future homelessness. Homestretch offers homeless parents and their children a safe place to live while helping them address the root causes of their situation and return to a life of self-reliance and stability. Through the work of dedicated staff, volunteer mentor teams, job coaching and lifeskills workshops, families are armed with important tools they need to succeed.

What it reported doing in 2024

Homestretch is pleased to share that during fy23-24, we made significant strides in advancing our mission to provide supportive and affordable housing while empowering families to achieve economic independence and long-term stability. Over the past year, we increased our housing unit occupancy from 60% to 97%, allowing us to deliver outcomes-based services to over 91 individuals in our housing program and navigational services to 840 individuals, for a total of 931 people served. This growth in occupancy, up from 69% to 97%, was achieved through efficient program transitions and diligent management of unit turnover, ensuring more families could access safe, stable housing.through efficient program transitions and proactive management of unit turnover, more families accessed the stability they need to pursue brighter futures. The outcomes-based program model produced strong, measurable results:-68% of clients boosted their wages by an average of $2.28 per hour, generating a collective annual wage increase of $71,136.-63% of clients improved their credit scores by more than 50 points, with the highest reaching 735.-clients collectively saved $38,912, with 96% actively working toward the goal of saving three months' living expenses.children's programming also achieved significant impact. After participating in the summer enrichment initiative, the percentage of youth performing at grade level increased from 24% to 53%. All participants improved their math or reading grades by an average of 7 points during the subsequent school year, while classroom behavioral issues dropped sharply from 50% to just 8%.the volunteer program experienced robust growth, expanding from 209 to 588 volunteers who contributed over 1,821 hours in administrative and direct client services and 2,006 hours in property maintenance and housing transitions.these accomplishments underscore homestretch's comprehensive approach-providing families and children with the financial, educational, and social resources necessary for lasting self-sufficiency and success. By translating data into compelling outcomes and focusing on tangible improvements, homestretch demonstrates its vital role in building stronger, more resilient communities.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

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: 90
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75.3%; rating input score 75
  • Fundraising efficiency: $12.21 raised per $1 spent on fundraising; rating input score 44; 44th 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: 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -65.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 1.73; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $111K · 15 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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: Fundraising efficiency scored 44/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.