Homes Of Hope Inc
Homes Of Hope Inc maintains stable operations with growing assets and no executive compensation.
EIN: 10772839 · Wray, CO · NTEE: P45 · Updated: 2026-03-27
Is Homes Of Hope Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Homes Of Hope Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Homes Of Hope Inc
Homes Of Hope Inc (EIN: 10772839) is a nonprofit organization based in Wray, CO, classified under NTEE code P45. The organization reported total revenue of $114K and total assets of $80K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homes Of Hope Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Homes Of Hope Inc is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $177K |
| Total Expenses | $144K |
| Surplus / Deficit | +$33K |
| Total Assets | $74K |
| Total Liabilities | $12K |
| Net Assets | $62K |
| Operating Margin | 18.5% |
| Debt-to-Asset Ratio | 16.1% |
| Months of Reserves | 6.2 months |
Financial Health Grade: A
In 2023, Homes Of Hope Inc reported a surplus of $33K with revenue exceeding expenses, holds 6.2 months of operating reserves (strong position), has a debt-to-asset ratio of 16.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Homes Of Hope Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +31.8% | +11.9% | +78.8% |
| 2022 | -23.1% | -23.5% | +7.7% |
| 2021 | +39.4% | +44.2% | +26.2% |
| 2020 | +5.5% | -40.9% | +15.1% |
| 2019 | -53.8% | +4.9% | -74.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 Homes Of Hope Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Homes Of Hope Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $33K, with revenue exceeding expenses.
- Debt-to-asset ratio: 16.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is highly commendable for an organization of its size, ensuring that all funds are directed towards its mission.
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 Homes Of Hope Inc's IRS 990 filings:
- Relatively small asset base compared to annual revenue, indicating limited financial reserves.
Strengths
The following positive indicators were identified for Homes Of Hope Inc:
- Consistent reporting of 0% officer compensation, demonstrating strong commitment to mission spending.
- Revenue consistently exceeding expenses in recent years (e.g., 2023 revenue $177,246 vs. expenses $144,488), indicating operational efficiency.
- Positive trend in asset growth over the last few years, from $30,579 in 2020 to $74,328 in 2023.
- Regular and extensive IRS 990 filing history (13 filings), indicating good transparency.
Frequently Asked Questions about Homes Of Hope Inc
Is Homes Of Hope Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Homes Of Hope Inc (EIN: 10772839) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Homes Of Hope Inc spend its money?
Homes Of Hope Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Homes Of Hope Inc tax-deductible?
Homes Of Hope Inc is registered as a tax-exempt nonprofit (EIN: 10772839). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Homes Of Hope Inc financially stable?
Yes, Homes Of Hope Inc appears financially stable. In 2023, revenue ($177,246) exceeded expenses ($144,488), and assets have shown consistent growth from $38,601 in 2021 to $74,328 in 2023.
How does Homes Of Hope Inc manage executive compensation?
Homes Of Hope Inc reports 0% officer compensation across all available filings, indicating that no executives are paid salaries, which is a strong positive for resource allocation.
What is the trend in the organization's assets?
The organization's assets have generally increased in recent years, from $30,579 in 2020 to $74,328 in 2023, suggesting a positive trend in financial health.
Filing History
IRS 990 filing history for Homes Of Hope Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Homes Of Hope Inc's revenue has grown by 3.5%, moving from $171K to $177K. Total assets increased by 273.8% over the same period, from $20K to $74K. Total functional expenses fell by 16.1%, from $172K to $144K. In its most recent filing year (2023), Homes Of Hope Inc reported a surplus of $33K, with revenue exceeding expenses. The organization holds $12K in liabilities against $74K in assets (debt-to-asset ratio: 16.1%), resulting in net assets of $62K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $177K | $144K | $74K | $12K | — | View 990 |
| 2022 | $135K | $129K | $42K | $12K | — | View 990 |
| 2021 | $175K | $169K | $39K | $7K | — | View 990 |
| 2020 | $126K | $117K | $31K | $7K | — | — |
| 2019 | $119K | $198K | $27K | $11K | — | View 990 |
| 2018 | $258K | $189K | $105K | $11K | — | View 990 |
| 2017 | $179K | $195K | $36K | $11K | — | — |
| 2016 | $260K | $245K | $53K | $11K | — | View 990 |
| 2015 | $196K | $252K | $38K | $11K | — | View 990 |
| 2014 | $309K | $282K | $83K | $0 | — | View 990 |
| 2013 | $303K | $280K | $57K | $0 | — | View 990 |
| 2012 | $180K | $171K | $33K | $0 | — | View 990 |
| 2011 | $171K | $172K | $20K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $177K, expenses of $144K, and assets of $74K (revenue +31.8% year-over-year).
- 2022: Revenue of $135K, expenses of $129K, and assets of $42K (revenue -23.1% year-over-year).
- 2021: Revenue of $175K, expenses of $169K, and assets of $39K (revenue +39.4% year-over-year).
- 2020: Revenue of $126K, expenses of $117K, and assets of $31K (revenue +5.5% year-over-year).
- 2019: Revenue of $119K, expenses of $198K, and assets of $27K (revenue -53.8% year-over-year).
- 2018: Revenue of $258K, expenses of $189K, and assets of $105K (revenue +43.8% year-over-year).
- 2017: Revenue of $179K, expenses of $195K, and assets of $36K (revenue -31.0% year-over-year).
- 2016: Revenue of $260K, expenses of $245K, and assets of $53K (revenue +32.8% year-over-year).
- 2015: Revenue of $196K, expenses of $252K, and assets of $38K (revenue -36.6% year-over-year).
- 2014: Revenue of $309K, expenses of $282K, and assets of $83K (revenue +1.7% year-over-year).
- 2013: Revenue of $303K, expenses of $280K, and assets of $57K (revenue +68.4% year-over-year).
- 2012: Revenue of $180K, expenses of $171K, and assets of $33K (revenue +5.2% year-over-year).
- 2011: Revenue of $171K, expenses of $172K, and assets of $20K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Homes Of Hope Inc:
Data Sources and Methodology
This transparency report for Homes Of Hope 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.