Homeworthy

Nonprofit profile at a glance

EIN
463136785
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Rockland, ME, USA
Phone
2075938151
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$5,262,705
Expenses
$4,787,035
Assets
$4,983,222
Liabilities
$1,462,038

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Molly Feeney (Executive Director)

Highest reported compensation

  • Molly Feeney (Executive Director): $150,850 total reported compensation
  • Matthew Small (Chief Operating Officer): $107,045 total reported compensation

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

Overview

Mission

See Schedule O.

What it reported doing in 2024

Case Management - Our professional client care team assists homeless individuals and families as they transition from crisis and uncertainty to stability and hope. Every person who enters our program is unique, and so each plan for care and support is tailored to evaluate and address their most urgent needs on an economic, physical, emotional/psychological and vocational level. Our thorough intake process begins with a psychosocial assessment that cuts to the heart of the causes of homelessness. Building on a relationship of trust and compassion, we help our clients set goals and connect to the support they need to meet them. This could mean simply some help with finding another job after loss of one, or as complex as navigating paperwork to qualify for social security/services; connections to health services; support with addiction recovery; or legal issues related to domestic violence. Our dedicated case managers use a combination of compassion and creativity to find ways to empower clients to meet their goals, including finding housing, but also maintaining stability in the long term. Identifying strengths and building confidence is an essential part of the process of helping clients move forward, step by step, towards greater independence. While securing housing is a huge step forward, it also introduces new challenges. Support continues during this tender transition to ensure that clients have the resilience to maintain their independence and continue to make progress on their goals. Post-housing support is a critical phase, since many people are only emotionally ready to benefit from access to life-skills education, financial literacy, career training and mental health once they are stably housed. Home visits, transportation and child supervision are provided so clients can take care of building their skills and their physical and mental health. It is a slow process that cant be rushed, but is critical to the lasting change that prevents the cycle of poverty and homelessness from repeating itself.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.8%; rating input score 72
  • Program expense ratio: 78.8%; rating input score 79
  • Fundraising efficiency: $10.48 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 13.1% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 22% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 71.8% of revenue deployed · 78.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $3.8M in reported program spending
  • Leadership: top reported pay $151K · 12 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.