Homeward Inc

Nonprofit profile at a glance

EIN
421462996
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Carroll, IA, USA
Phone
7127929914
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Home Improvement and Repairs

Official website

Reported finances

Revenue
$132,595
Expenses
$47,785
Assets
$2,386,377
Liabilities
$2,050

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

Leadership & pay

8 people listed

Executive titles in this filing

  • TIM MARIENAU (PRESIDENT)
  • CRAIG CODNER (VICE PRESIDENT)

People named in this filing

  • TIM MARIENAU (PRESIDENT)
  • CRAIG CODNER (VICE PRESIDENT)
  • JIM GOSSETT (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide assistance to communities and organizations in the development and construction of residential housing in rural areas of Iowa, and to promote economic development in rural areas in Iowa.

What it reported doing in 2024

To provide financial assistance for residential and general economic development in rural Iowa communities. Such assistance has consisted of aiding in the building and development of speculative housing for the purpose of promoting rural economic development.

Operating model

Revenue model
Investment-supported. 62% of the money available for current operations came from recurring investment income.
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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 88
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.1%; rating input score 0
  • Program expense ratio: 1%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 64%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 49.94; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -5.8% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 0.1% of revenue deployed · 1% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $500 in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.