Main Street Homer

Nonprofit profile at a glance

EIN
465171565
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2018
Location
Homer, LA, USA
Phone
3185485621
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$392,689
Expenses
$125,026
Assets
$583,254
Liabilities
$59,706

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Amri Warren (Executive Director and Board Member)
  • Christy Gladney (Executive Director and Board Member)
  • Jimmy Hand (President)
  • April Hand (Vice President and Treasurer)

Highest reported compensation

  • Amri Warren (Executive Director and Board Member): $7,500 total reported compensation
  • Christy Gladney (Executive Director and Board Member): $5,165 total reported compensation

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

Overview

Mission

Revitalize downtown Homer through economic development, historic and cultural preservation, and advancement of the arts.

What it reported doing in 2024

Revitalized downtown Homer through economic development & historic preservation: Supported renovation of contributing buildings in downtown historic district. Promoted tourism and shopping local. Maintained and improved downtown park and owned historic buildings. Provided these spaces for lease to local retailers to grow the downtown economy.

Operating model

Revenue model
Grant-funded. 81% 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

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 85
  • Accountability: 74
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.6%; rating input score 23
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: $140.95 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 3 of 8 controls in place; rating input score 38
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.2%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 4.67; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 44.7% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 36.3% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 22.6% of revenue deployed · 70.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $89K in reported program spending
  • Leadership: top reported pay $8K · 7 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 23/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.