Homes Of Hope Inc
EIN: 371290594 · Normal, IL · NTEE: P80Z
| Metric | Value |
|---|---|
| Total Revenue | $3.2M |
| Total Expenses | $2.7M |
| Net Assets | $339K |
Is Homes Of Hope Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Homes Of Hope Inc
Homes Of Hope Inc (EIN: 371290594) is a nonprofit organization based in Normal, IL, classified under NTEE code P80Z. The organization reported total revenue of $3.2M and total assets of $1.0M 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 mid-size nonprofit that has been operating for 34 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 9.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.7M |
| Surplus / Deficit | $-63,680 |
| Total Assets | $665K |
| Total Liabilities | $326K |
| Net Assets | $339K |
| Operating Margin | -2.4% |
| Debt-to-Asset Ratio | 49.1% |
| Months of Reserves | 2.9 months |
Financial Health Grade: C
In 2024, Homes Of Hope Inc reported a deficit of $64K with expenses exceeding revenue, holds 2.9 months of operating reserves (limited), has a debt-to-asset ratio of 49.1% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Homes Of Hope Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +8.0% | +9.7% | -1.3% |
| 2023 | +7.4% | +15.7% | +14.2% |
| 2022 | +11.9% | +13.4% | +29.7% |
| 2021 | +22.4% | +17.9% | +74.0% |
| 2020 | +20.3% | +9.1% | +43.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Homes Of Hope Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Homes Of Hope Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $64K, with expenses exceeding revenue.
- Debt-to-asset ratio: 49.1%.
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: 371290594) insufficient data. 0 red flags identified, 0 strengths noted.
How does Homes Of Hope Inc spend its money?
Detailed spending breakdown data is not yet available for Homes Of Hope Inc. Check back for updated IRS 990 analysis.
Are donations to Homes Of Hope Inc tax-deductible?
Homes Of Hope Inc is registered as a tax-exempt nonprofit (EIN: 371290594). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Homes Of Hope Inc located?
Homes Of Hope Inc is headquartered in Normal, Illinois and files with the IRS under EIN 371290594. It is classified under NTEE code P80Z.
How many years of IRS 990 filings does Homes Of Hope Inc have?
Homes Of Hope Inc has 14 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 $3.2M in total revenue.
Filing History
IRS 990 filing history for Homes Of Hope Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Homes Of Hope Inc's revenue has grown by 219.6%, moving from $836K to $2.7M. Total assets increased by 627.3% over the same period, from $91K to $665K. Total functional expenses rose by 218.7%, from $858K to $2.7M. In its most recent filing year (2024), Homes Of Hope Inc reported a deficit of $64K, with expenses exceeding revenue. The organization holds $326K in liabilities against $665K in assets (debt-to-asset ratio: 49.1%), resulting in net assets of $339K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $2.7M | $2.7M | $665K | $326K | — | View 990 |
| 2023 | $2.5M | $2.5M | $674K | $272K | — | View 990 |
| 2022 | $2.3M | $2.2M | $591K | $168K | — | View 990 |
| 2021 | $2.1M | $1.9M | $455K | $181K | — | View 990 |
| 2020 | $1.7M | $1.6M | $262K | $145K | — | View 990 |
| 2019 | $1.4M | $1.5M | $182K | $135K | — | View 990 |
| 2018 | $1.4M | $1.3M | $243K | $115K | — | View 990 |
| 2017 | $1.3M | $1.2M | $179K | $95K | — | View 990 |
| 2016 | $1.1M | $1.2M | $112K | $98K | — | View 990 |
| 2015 | $1.1M | $1.1M | $129K | $89K | — | View 990 |
| 2014 | $1.0M | $966K | $132K | $79K | — | View 990 |
| 2013 | $1.0M | $952K | $59K | $75K | — | View 990 |
| 2012 | $894K | $909K | $84K | $185K | — | View 990 |
| 2011 | $836K | $858K | $91K | $178K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.7M, expenses of $2.7M, and assets of $665K (revenue +8.0% year-over-year).
- 2023: Revenue of $2.5M, expenses of $2.5M, and assets of $674K (revenue +7.4% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.2M, and assets of $591K (revenue +11.9% year-over-year).
- 2021: Revenue of $2.1M, expenses of $1.9M, and assets of $455K (revenue +22.4% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.6M, and assets of $262K (revenue +20.3% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.5M, and assets of $182K (revenue +0.8% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.3M, and assets of $243K (revenue +6.2% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.2M, and assets of $179K (revenue +14.8% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.2M, and assets of $112K (revenue +6.4% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.1M, and assets of $129K (revenue +3.2% year-over-year).
- 2014: Revenue of $1.0M, expenses of $966K, and assets of $132K (revenue -0.2% year-over-year).
- 2013: Revenue of $1.0M, expenses of $952K, and assets of $59K (revenue +16.0% year-over-year).
- 2012: Revenue of $894K, expenses of $909K, and assets of $84K (revenue +7.0% year-over-year).
- 2011: Revenue of $836K, expenses of $858K, and assets of $91K.
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.