Homeword Inc
Nonprofit profile at a glance
- EIN
- 810522626
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Missoula, MT, USA
- Phone
- 4065324663
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $10,262,886
- Expenses
- $9,108,032
- Assets
- $65,077,123
- Liabilities
- $24,028,125
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- MEG HAENN (Vice President)
- JESSICA VIZZUTTI (President)
Highest reported compensation
- KARISSA TRUJILLO (Executive Dir.): $113,858 total reported compensation
- HEATHER MCMILIN (Director): $102,622 total reported compensation
- MATT JOSEPH (Director): $97,631 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Homeword uses sustainable methods to provide safe, healthy homes that people can afford and strengthens the community through housing counseling and education.
What it reported doing in 2024
Housing development: housing development provides homes people can afford to families with lower income through development of single-family and multi-family projects and preservation of existing homes. Development is also responsible for the formation of tax credit partnerships and other legal entities created for the purpose of ownership and development. Costs include staff wages, unrecouped expenses associated with new or rehabilitation predevelopment and construction managements costs. Nearly all of development income is generated via federal and state grants and is passed through directly to the projects in forms of loans and equity. Homeword retains a portion of any developer fee not deferred for operations.
Operating model
- Revenue model
- Earned-program. 76% 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. Some related-organization disclosures are missing and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 78
- Accountability: 100
- Sustainability: 70
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.1%; rating input score 86
- Program expense ratio: 97%; rating input score 97
- Fundraising efficiency: $8.46 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings
Transparency & Controls
- Consistency checks: 86.7%; rating input score 87; 1st percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: No; rating input score 0
Accountability
- Independent voting board: 100%; rating input score 100; 66th 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: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 11.3%; rating input score 70; 70th percentile among comparable filings
- Total-asset coverage ratio: 7.15; rating input score 88; 88th percentile among comparable filings
- Liabilities to assets ratio: 0.37; rating input score 39; 39th percentile among comparable filings
- Officer compensation ratio: 4.3%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: 17.2% per year; rating input score 100; 87th percentile among comparable filings
- Revenue growth: 14% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: 12.1% per year; rating input score 100; 73rd percentile among comparable filings
Details
- Where the money goes: 86.1% of revenue deployed · 97% of spending went to programs
- Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $8.8M in reported program spending
- Leadership: top reported pay $114K · 17 people listed
- Consistency: 26 of 28 current checks pass · 2 findings to review
- Schedules: 5 filed schedules · includes related organizations
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 14 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: Related-party transparency scored 0/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Moderate — Sustainability: Liabilities to assets ratio scored 39/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.