Louisville Housing Opportunity and Micro Enterprise Community

Overview

Mission

Lhome is a mission-driven, nonprofit financial institution that provides accessible, affordable loan products and financial coaching services to low-income small business owners, homeowners, and residents of louisville, Kentucky. Lhome is a community development financial institution (cdfi), certified by the u.s. Treasury. Lhome is short for the louisville housing opportunities and micro-enterprise community development loan fund, inc.lhome is committed to serving the people and businesses of louisvillle's low- and moderate- income census tracts, primarily our west and south end neighborhoods, and creating intergenerationial wealth opportunities, particularly for louisville's black and brown residents. Over 70% of lhome clients are non-white, and over 90% reside in these historically underserved and discriminated sections of our city.

Operating model

Revenue model

Grant-funded. 65% 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.

• Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

• Financial Efficiency: 61
• Transparency & Controls: 70
• Accountability: 95
• Sustainability: 32
• Growth: 100

Detailed rating inputs

Details

• Where the money goes: 67.4% of revenue deployed · 57.6% of spending went to programs
• Governance: 6 of 6 board members independent · 7 of 8 filing controls reported
• Programs: 1 filed program accomplishment · $853K in reported program spending
• Leadership: top reported pay $192K · 9 people listed · 1 of 6 pay-setting controls reported
• Consistency: 28 of 28 current checks pass
• Schedules: 5 filed schedules · includes major donors and executive pay
• Filing history: 6 filing years from 2018 to 2024
• Contacts: How to reach this organization
• Money network: 1 filed money-flow record
• Related organizations: Filed and resolved organization relationships.
• 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

• Review — Financial Efficiency: Program expense ratio scored 58/100.
• Moderate — Financial Efficiency: Fundraising efficiency scored 38/100.
• High — Sustainability: Operating margin scored 13/100.
• Review — Accountability: Governance controls: Form 990 shared with the board not reported.
• High — Sustainability: Liabilities to assets ratio scored 22/100.
• High — Sustainability: Officer compensation ratio scored 28/100.
• High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.