THDF II Inc DBA The Home Depot Foundation & Homer Fund

Nonprofit profile at a glance

EIN
582491657
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2018
Location
Atlanta, GA, USA
Phone
7704338211
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Emergency Assistance

Reported finances

Revenue
$110,964,312
Expenses
$99,843,310
Assets
$267,385,821
Liabilities
$55,869,593

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Crystal Hanlon (Chair and President)
  • Erin Izen (Executive Director)

Highest reported compensation

  • S Robinson (Director, Homer Fund): $266,097 total reported compensation
  • H Prill (Director, Strategic P'ships): $233,866 total reported compensation
  • John Ellington (Treasurer (until 5/31/24)): $225,286 total reported compensation

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

Overview

Mission

The Homer Fund provides financial assistance to qualifying Home Depot associates and their families in the form of hardship grants and need based academic scholarships; The Home Depot Foundation is primarily dedicated to improving housing issues faced by U.S. veterans, training skilled tradespeople to fill the labor gap, supporting communities impacted by natural disasters and other charitable initiatives.

What it reported doing in 2024

Grants to nonprofits that are addressing housing affordability issues for U.S. veterans. Grants to partner organizations to deliver immediate aid and long-term rebuilding support to U.S. communities impacted by natural disasters. Grants to nonprofits providing introductions and training in the skilled trades to U.S. veterans and their families, as well as young people in underserved communities.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.
  • 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 voting board members are independent and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 68
  • Accountability: 42
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.5%; rating input score 90
  • Program expense ratio: 95.5%; rating input score 95
  • Fundraising efficiency: $80.03 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Pass
    • May require repayment: Limited
  • Grant itemization coverage: 98.2%; rating input score 98; 34th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th 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: 10%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.68; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 13% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 90.5% of revenue deployed · 95.5% of spending went to programs
  • Governance: 0 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $95.3M in reported program spending
  • Leadership: top reported pay $266K · 15 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.8M reported
  • Consistency: 34 of 36 current checks pass · 2 findings to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 212 filed money-flow records
  • Related organizations: 170 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 — Accountability: Independent voting board scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.