Homewood Water Association
EIN: 640508855 · Forest, MS · NTEE: W80
| Metric | Value |
|---|---|
| Total Revenue | $396K |
| Total Expenses | $333K |
| Net Assets | $1.4M |
Is Homewood Water Association Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Homewood Water Association
Homewood Water Association (EIN: 640508855) is a nonprofit organization based in Forest, MS, classified under NTEE code W80. The organization reported total revenue of $396K and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homewood Water Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Homewood Water Association is a small nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $398K |
| Total Expenses | $333K |
| Surplus / Deficit | +$66K |
| Total Assets | $2.0M |
| Total Liabilities | $577K |
| Net Assets | $1.4M |
| Operating Margin | 16.5% |
| Debt-to-Asset Ratio | 28.6% |
| Months of Reserves | 72.8 months |
Financial Health Grade: A
In 2024, Homewood Water Association reported a surplus of $66K with revenue exceeding expenses, holds 72.8 months of operating reserves (strong position), has a debt-to-asset ratio of 28.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Homewood Water Association's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +11.5% | +4.5% | -0.9% |
| 2023 | +16.3% | +5.6% | +0.9% |
| 2022 | +0.9% | +10.4% | +17.1% |
| 2021 | +2.4% | -15.5% | +1.0% |
| 2020 | +2.4% | +19.6% | -2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 4000 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Homewood Water Association 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 Homewood Water Association 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 surplus of $66K, with revenue exceeding expenses.
- Debt-to-asset ratio: 28.6%.
Frequently Asked Questions about Homewood Water Association
Is Homewood Water Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Homewood Water Association (EIN: 640508855) insufficient data. 0 red flags identified, 0 strengths noted.
How does Homewood Water Association spend its money?
Detailed spending breakdown data is not yet available for Homewood Water Association. Check back for updated IRS 990 analysis.
Are donations to Homewood Water Association tax-deductible?
Homewood Water Association is registered as a tax-exempt nonprofit (EIN: 640508855). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Homewood Water Association located?
Homewood Water Association is headquartered in Forest, Mississippi and files with the IRS under EIN 640508855. It is classified under NTEE code W80.
How many years of IRS 990 filings does Homewood Water Association have?
Homewood Water Association 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 $396K in total revenue.
Filing History
IRS 990 filing history for Homewood Water Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Homewood Water Association's revenue has grown by 44%, moving from $277K to $398K. Total assets increased by 21.5% over the same period, from $1.7M to $2.0M. Total functional expenses rose by 39.7%, from $238K to $333K. In its most recent filing year (2024), Homewood Water Association reported a surplus of $66K, with revenue exceeding expenses. The organization holds $577K in liabilities against $2.0M in assets (debt-to-asset ratio: 28.6%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $398K | $333K | $2.0M | $577K | — | — |
| 2023 | $357K | $318K | $2.0M | $661K | — | View 990 |
| 2022 | $307K | $302K | $2.0M | $682K | — | View 990 |
| 2021 | $305K | $273K | $1.7M | $393K | — | — |
| 2020 | $297K | $323K | $1.7M | $408K | — | View 990 |
| 2019 | $291K | $270K | $1.7M | $425K | — | View 990 |
| 2018 | $285K | $264K | $1.7M | $432K | — | View 990 |
| 2017 | $288K | $266K | $1.7M | $448K | — | View 990 |
| 2016 | $273K | $251K | $1.7M | $459K | — | View 990 |
| 2015 | $270K | $270K | $1.7M | $471K | — | View 990 |
| 2014 | $286K | $245K | $1.7M | $474K | — | View 990 |
| 2013 | $257K | $221K | $1.7M | $505K | — | View 990 |
| 2012 | $277K | $238K | $1.7M | $497K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $398K, expenses of $333K, and assets of $2.0M (revenue +11.5% year-over-year).
- 2023: Revenue of $357K, expenses of $318K, and assets of $2.0M (revenue +16.3% year-over-year).
- 2022: Revenue of $307K, expenses of $302K, and assets of $2.0M (revenue +0.9% year-over-year).
- 2021: Revenue of $305K, expenses of $273K, and assets of $1.7M (revenue +2.4% year-over-year).
- 2020: Revenue of $297K, expenses of $323K, and assets of $1.7M (revenue +2.4% year-over-year).
- 2019: Revenue of $291K, expenses of $270K, and assets of $1.7M (revenue +2.0% year-over-year).
- 2018: Revenue of $285K, expenses of $264K, and assets of $1.7M (revenue -1.1% year-over-year).
- 2017: Revenue of $288K, expenses of $266K, and assets of $1.7M (revenue +5.7% year-over-year).
- 2016: Revenue of $273K, expenses of $251K, and assets of $1.7M (revenue +0.9% year-over-year).
- 2015: Revenue of $270K, expenses of $270K, and assets of $1.7M (revenue -5.5% year-over-year).
- 2014: Revenue of $286K, expenses of $245K, and assets of $1.7M (revenue +11.4% year-over-year).
- 2013: Revenue of $257K, expenses of $221K, and assets of $1.7M (revenue -7.2% year-over-year).
- 2012: Revenue of $277K, expenses of $238K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Homewood Water Association:
Data Sources and Methodology
This transparency report for Homewood Water Association 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.