Homsite Fund Inc

Nonprofit profile at a glance

EIN
237368656
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Auburn Ny, NY, USA
Phone
3152538451
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$219,370
Expenses
$270,736
Assets
$406,125
Liabilities
$171,702

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

Leadership & pay

7 people listed

Executive titles in this filing

  • BOB PADULA (PRESIDENT)
  • ERICA RYAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ERICA RYAN (EXECUTIVE DIRECTOR): $72,295 total reported compensation

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

Overview

Mission

Homsite fund is a nonprofit community based development organization focused on providing housing and community development services geared to improving the lives of low and moderate income persons living in the city of auburn

What it reported doing in 2024

Home repair assistaance program-administrative and home improvement financing for low-to-moderate income homeowners living in the city of auburn need to make emergency repairs

Operating model

Revenue model
Grant-funded. 68% 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

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: 26
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 27
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.2%; rating input score 32
  • Program expense ratio: 26.1%; rating input score 26
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -23.4%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -16.7% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -10.7% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -8.9% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 32.2% of revenue deployed · 26.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $71K in reported program spending
  • Leadership: top reported pay $72K · 7 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 32/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.