Home Care Options Inc
Home Care Options Inc: Declining Revenue and Persistent Deficits Raise Concerns
EIN: 221589210 · Wayne, NJ · NTEE: P44Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $3.1M |
| Total Expenses | $3.0M |
| Program Spending | 89% |
| Net Assets | $2.5M |
| Transparency Score | 65/100 |
Is Home Care Options Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Home Care Options Inc directs 89% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Home Care Options Inc
Home Care Options Inc (EIN: 221589210) is a nonprofit organization based in Wayne, NJ, classified under NTEE code P44Z. The organization reported total revenue of $3.1M and total assets of $2.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Home Care Options Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Home Care Options Inc is a mid-size nonprofit that has been operating for 70 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $3.0M |
| Surplus / Deficit | $-302,958 |
| Total Assets | $2.6M |
| Total Liabilities | $128K |
| Net Assets | $2.5M |
| Operating Margin | -11.4% |
| Debt-to-Asset Ratio | 5.0% |
| Months of Reserves | 10.4 months |
Financial Health Grade: B
In 2023, Home Care Options Inc reported a deficit of $303K with expenses exceeding revenue, holds 10.4 months of operating reserves (strong position), has a debt-to-asset ratio of 5.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Home Care Options Inc's revenue has declined at a compound annual growth rate (CAGR) of -7.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -9.5% | -6.4% | -10.6% |
| 2022 | -42.3% | -14.7% | -8.9% |
| 2021 | +18.9% | -6.2% | +75.3% |
| 2020 | -5.8% | -21.2% | +14.8% |
| 2019 | +9.6% | +8.7% | -21.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1956 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Home Care Options Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 8%
- programs: 89%
- fundraising: 3%
According to IRS 990 filings, Home Care Options Inc allocates its expenses as follows: admin: 8%, programs: 89%, fundraising: 3%. With 89% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $303K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% in all available filings, which is highly improbable and suggests a lack of transparency regarding leadership remuneration.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Home Care Options Inc's IRS 990 filings:
- Consistent net losses: The organization has reported expenses exceeding revenue for multiple years (e.g., 2023: $2,970,161 expenses vs. $2,667,203 revenue; 2022: $3,172,431 expenses vs. $2,946,184 revenue).
- Declining revenue trend: Revenue has significantly decreased from $5,990,073 in 2016 to $2,667,203 in 2023.
- Unreported executive compensation: The consistent reporting of 0% for compensation raises a significant red flag regarding transparency.
- Accumulated deficit: The organization has an accumulated deficit, indicating long-term financial instability.
Strengths
The following positive indicators were identified for Home Care Options Inc:
- Strong program spending: A high percentage of spending is allocated to programs (89%), indicating a focus on its mission.
Frequently Asked Questions about Home Care Options Inc
Is Home Care Options Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Home Care Options Inc (EIN: 221589210) some concerns. Mission Score: 65/100. 4 red flags identified, 1 strength noted.
How does Home Care Options Inc spend its money?
Home Care Options Inc directs 89% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Home Care Options Inc tax-deductible?
Home Care Options Inc is registered as a tax-exempt nonprofit (EIN: 221589210). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Home Care Options Inc's spending goes to programs?
Home Care Options Inc directs 89% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Home Care Options Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Home Care Options Inc is above average for NTEE category P44Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Home Care Options Inc located?
Home Care Options Inc is headquartered in Wayne, New Jersey and files with the IRS under EIN 221589210. It is classified under NTEE code P44Z.
How many years of IRS 990 filings does Home Care Options Inc have?
Home Care Options Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.1M in total revenue.
What does Home Care Options Inc do?
Home Care Options Inc is a nonprofit organization in the Human Services sector, located in Wayne, New Jersey. It is classified under NTEE code P44Z.
How much revenue does Home Care Options Inc have?
Home Care Options Inc reported total revenue of $3,068,656. Based on 13 IRS 990 filings on record.
What are Home Care Options Inc's total assets?
Home Care Options Inc holds total assets of $2,657,280 as reported in IRS 990 filings.
Where is Home Care Options Inc located?
Home Care Options Inc is based in Wayne, New Jersey.
What is Home Care Options Inc's EIN?
Home Care Options Inc's Employer Identification Number (EIN) is 221589210. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Home Care Options Inc?
Home Care Options Inc is classified under NTEE code P44Z (Human Services).
Is Home Care Options Inc a registered 501(c)(3)?
Yes, Home Care Options Inc is recognized as a tax-exempt organization by the IRS. EIN: 221589210.
Does Home Care Options Inc file IRS Form 990?
Yes, Home Care Options Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Home Care Options Inc's revenue in 2023?
In the 202312 filing period, Home Care Options Inc reported total revenue of $2,667,203, total expenses of $2,970,161, and net assets of $2,578,924.
Is Home Care Options Inc's revenue growing or declining?
Home Care Options Inc's revenue is declining. Revenue went from $2,946,184 (202212) to $2,667,203 (202312), a -9.5% change. Based on 13 filings on record.
What is Home Care Options Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Home Care Options Inc covers tax period 202312. It shows revenue of $2,667,203, expenses of $2,970,161, total assets of $2,578,924, and liabilities of $128,284.
How much does Home Care Options Inc spend on programs vs administration?
Based on IRS 990 analysis, Home Care Options Inc allocates approximately 89% of expenses to program services, 8% to administrative costs, and 3% to fundraising. This indicates strong program focus.
Is Home Care Options Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Home Care Options Inc shows mixed signals. Mission Score: 65/100 (Good). 4 red flags identified. 1 strength noted.
What are the red flags for Home Care Options Inc?
The following concerns were identified: Consistent net losses: The organization has reported expenses exceeding revenue for multiple years (e.g., 2023: $2,970,161 expenses vs. $2,667,203 revenue; 2022: $3,172,431 expenses vs. $2,946,184 revenue).. Declining revenue trend: Revenue has significantly decreased from $5,990,073 in 2016 to $2,667,203 in 2023.. Unreported executive compensation: The consistent reporting of 0% for compensation raises a significant red flag regarding transparency.. Accumulated deficit: The organization has an accumulated deficit, indicating long-term financial instability.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Home Care Options Inc's strengths?
Positive indicators for Home Care Options Inc include: Strong program spending: A high percentage of spending is allocated to programs (89%), indicating a focus on its mission.. These findings are derived from AI analysis of the organization's financial filings.
How does Home Care Options Inc compensate executives?
Executive compensation is reported as 0% in all available filings, which is highly improbable and suggests a lack of transparency regarding leadership remuneration. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% for compensation in all filings, how does Home Care Options Inc. compensate its leadership and key employees, and what is the actual financial impact of these compensation methods on the organization's budget?
The filings do not provide specific details on how leadership is compensated if not through direct salary, making it impossible to assess the actual financial impact from the provided data. This lack of detail is a significant transparency issue.
What strategies are being implemented to address the persistent decline in revenue from $5,990,073 in 2016 to $2,667,203 in 2023, and how does the organization plan to return to financial sustainability given its consistent net losses?
The provided data does not include strategic plans or explanations for revenue decline or recovery. The consistent net losses suggest that current strategies are not effectively addressing the financial challenges.
Filing History
IRS 990 filing history for Home Care Options Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Home Care Options Inc's revenue has declined by 60.5%, moving from $6.8M to $2.7M. Total assets decreased by 38.2% over the same period, from $4.2M to $2.6M. Total functional expenses fell by 55%, from $6.6M to $3.0M. In its most recent filing year (2023), Home Care Options Inc reported a deficit of $303K, with expenses exceeding revenue. The organization holds $128K in liabilities against $2.6M in assets (debt-to-asset ratio: 5.0%), resulting in net assets of $2.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $3.0M | $2.6M | $128K | — | — |
| 2022 | $2.9M | $3.2M | $2.9M | $130K | — | View 990 |
| 2021 | $5.1M | $3.7M | $3.2M | $153K | — | View 990 |
| 2020 | $4.3M | $4.0M | $1.8M | $206K | — | — |
| 2019 | $4.6M | $5.0M | $1.6M | $316K | — | View 990 |
| 2018 | $4.2M | $4.6M | $2.0M | $304K | — | View 990 |
| 2017 | $4.5M | $5.0M | $3.9M | $1.8M | — | View 990 |
| 2016 | $6.0M | $6.2M | $2.8M | $296K | — | View 990 |
| 2015 | $5.9M | $6.2M | $3.0M | $448K | — | View 990 |
| 2014 | $6.1M | $6.2M | $3.6M | $606K | — | View 990 |
| 2013 | $6.6M | $6.6M | $3.7M | $334K | — | View 990 |
| 2012 | $6.5M | $6.7M | $3.7M | $517K | — | View 990 |
| 2011 | $6.8M | $6.6M | $4.2M | $749K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $3.0M, and assets of $2.6M (revenue -9.5% year-over-year).
- 2022: Revenue of $2.9M, expenses of $3.2M, and assets of $2.9M (revenue -42.3% year-over-year).
- 2021: Revenue of $5.1M, expenses of $3.7M, and assets of $3.2M (revenue +18.9% year-over-year).
- 2020: Revenue of $4.3M, expenses of $4.0M, and assets of $1.8M (revenue -5.8% year-over-year).
- 2019: Revenue of $4.6M, expenses of $5.0M, and assets of $1.6M (revenue +9.6% year-over-year).
- 2018: Revenue of $4.2M, expenses of $4.6M, and assets of $2.0M (revenue -7.7% year-over-year).
- 2017: Revenue of $4.5M, expenses of $5.0M, and assets of $3.9M (revenue -24.7% year-over-year).
- 2016: Revenue of $6.0M, expenses of $6.2M, and assets of $2.8M (revenue +2.4% year-over-year).
- 2015: Revenue of $5.9M, expenses of $6.2M, and assets of $3.0M (revenue -3.9% year-over-year).
- 2014: Revenue of $6.1M, expenses of $6.2M, and assets of $3.6M (revenue -7.3% year-over-year).
- 2013: Revenue of $6.6M, expenses of $6.6M, and assets of $3.7M (revenue +1.5% year-over-year).
- 2012: Revenue of $6.5M, expenses of $6.7M, and assets of $3.7M (revenue -4.2% year-over-year).
- 2011: Revenue of $6.8M, expenses of $6.6M, and assets of $4.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Home Care Options Inc:
Data Sources and Methodology
This transparency report for Home Care Options Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.