Civic Intelligence

Homes of Opportunity Inc

EIN 38-2329011 • 501(c)3 • Grand Rapids, MI

Profile

Care and services for the mentally impaired

PO Box 890Grand Rapids, MI 49518-0890

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

80th percentile

0.51x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

37th percentile

0.09x

Higher debt load relative to revenue than 37% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

23rd percentile

-6.6%

Higher net margin than 23% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

84th percentile

$262,678

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

4th percentile

-31%

Faster asset growth than 4% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

-3.4%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,211,913

Down $532,924 (-31%) from 2018

Liabilities

Down

$613,927

Down $66,848 (-9.8%) from 2018

Net Assets

Down

$597,986

Down $466,076 (-44%) from 2018

Revenue

Down

$7,041,682

Down $244,604 (-3.4%) from 2018

Expenses

Up

$7,507,758

Up $291,381 (+4.0%) from 2018

Net Income

Down

-$466,076

Down $535,985 (-767%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,463,490Liabilities 2011: $604,462Net Assets 2011: $859,0282011Assets 2012: $1,514,161Liabilities 2012: $625,198Net Assets 2012: $888,9632012Assets 2013: $1,521,392Liabilities 2013: $595,892Net Assets 2013: $925,5002013Assets 2014: $1,438,182Liabilities 2014: $611,506Net Assets 2014: $826,6762014Assets 2015: $1,515,740Liabilities 2015: $745,669Net Assets 2015: $770,0712015Assets 2016: $1,616,465Liabilities 2016: $655,054Net Assets 2016: $961,4112016Assets 2017: $1,691,124Liabilities 2017: $696,971Net Assets 2017: $994,1532017Assets 2018: $1,744,837Liabilities 2018: $680,775Net Assets 2018: $1,064,0622018Assets 2019: $1,211,913Liabilities 2019: $613,927Net Assets 2019: $597,9862019

Highlighted filing

2019

Assets$1,211,913
Liabilities$613,927
Net Assets$597,986

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $5,499,1662011Expenses 2012: $6,409,5002012Revenue 2013: $6,483,757Expenses 2013: $6,447,220Net Income 2013: $36,5372013Revenue 2014: $6,135,571Expenses 2014: $6,234,395Net Income 2014: -$98,8242014Revenue 2015: $6,266,426Expenses 2015: $6,323,031Net Income 2015: -$56,6052015Revenue 2016: $6,628,279Expenses 2016: $6,436,939Net Income 2016: $191,3402016Revenue 2017: $6,839,424Expenses 2017: $6,806,682Net Income 2017: $32,7422017Revenue 2018: $7,286,286Expenses 2018: $7,216,377Net Income 2018: $69,9092018Revenue 2019: $7,041,682Expenses 2019: $7,507,758Net Income 2019: -$466,0762019

Highlighted filing

2019

Revenue$7,041,682
Expenses$7,507,758
Net Income-$466,076

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Aug 7, 2020
Return Version
2018v3.2
Gross Receipts
$7,063,803
Mission and Program Overview

Mission

Care and services for the mentally impaired

Care and services for the mentally impaired, with twenty-eight group homes as residences for clients, and one vocational training workshop to assist clients in employment

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$758,064$528,712▼ $229,352
Accounts Receivable$535,035$344,776▼ $190,259
Land, Buildings, and Equipment, Net$354,647$226,482▼ $128,165
Prepaid Expenses and Deferred Charges$88,190$105,142▲ $16,952
Total Assets$1,744,837$1,211,913▼ $532,924
Other Assets Total$8,901$6,801▼ $2,100
Liabilities
Accounts Payable and Accrued Expenses$404,133$442,945▲ $38,812
Mortgage Notes Payable Secured by Investment Property$276,642$170,982▼ $105,660
Total Liabilities$680,775$613,927▼ $66,848
Net Assets / Fund Balance
Unrestricted Net Assets$1,064,062$597,986▼ $466,076
Total Net Assets Fund Balance$1,064,062$597,986▼ $466,076
Total Liabilities and Net Assets / Fund Balance$1,744,837$1,211,913▼ $532,924

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$208,480$731,359$939,839
Equipment$18,002$15,339$33,341
Leasehold Improvements$0$26,917$26,917
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lawrence a ManiaciExecutive DirectorFT$262,678$262,678

Board Members and Trustees

NameTitle
John EcksteinDirector
Frank LaroccaSecretary
Patrick HoulihanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,030,020
Investment Income
$11,662
Other Revenue
$0
Change in Net Assets
$-466,076

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,041,682
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,041,682
Total Revenue per Form 990
$7,041,682
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,994,141
Other Expenses$1,513,617
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,876,054$379,892-$5,255,946
Occupancy$447,120$32,005-$479,125
Payroll Taxes$338,438$41,688-$380,126
Current Officers, Directors, Trustees, and Key Employees-$231,749-$231,749
Insurance$159,937$8,700-$168,637
Depreciation Depletion$121,299$12,598-$133,897
Other Employee Benefits$124,448$1,872-$126,320
Other Expenses$64,534$3,581-$64,534
Fees for Services Accounting-$44,598-$44,598
Fees for Services Legal-$24,276-$24,276
All Other Expenses$7,813$8,871-$16,684
Interest-$7,590-$7,590
Total Functional Expenses$6,685,116$822,642$0$7,507,758

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,507,758
Total Expenses per Audited Statements$7,507,758
Total Expenses per Form 990$7,507,758
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Prior to filing, a copy of the form 990 is reviewed by a number of levels of management, including the person signing the return.

Form 990, Part VI, Section B, Line 15

See comments on schedule j

Form 990, Part VI, Section C, Line 19

Documents available as required by law. Paper copies are provided upon request.

Filing and Contact Details

Filer

Filer Name
Homes of Opportunity Inc
EIN
38-2329011
Phone
6163018000
Address
PO BOX 890, GRAND RAPIDS, MI 49518-0890

Signing Officer

Name
Andre Pierre
Title
CFO
Phone
6163018000
Signed
2020-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andre Pierre
Formed
1984
Legal Domicile
Mi
Voting Board Members
4
Independent Board Members
3
Employees
374
Volunteers
3

Preparer

Firm
Beene Garter Llp
Address
56 GRANDVILLE AVE SW STE 100, GRAND RAPIDS, MI 49503
Preparer
Carol L Hubbard CPA Cpim
Phone
6162355200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The internal revenue service has determined the organization is exempt from income taxes under provisions of code section 501(c)(3.) in addition, the organization qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization that is not a private foundation under section 509(a)(2). Tax positions taken are assessed for uncertainty and a provision may be recorded if a tax position is not likely to be sustained upon examination.

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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0208480
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0731359
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0939839
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt07041682
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTERNAL REVENUE SERVICE HAS DETERMINED THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER PROVISIONS OF CODE SECTION 501(C)(3.) IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). TAX POSITIONS TAKEN ARE ASSESSED FOR UNCERTAINTY AND A PROVISION MAY BE RECORDED IF A TAX POSITION IS NOT LIKELY TO BE SUSTAINED UPON EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0226482
IRS990ScheduleD/TotalExpensesPerForm990Amt07507758
IRS990ScheduleD/TotalRevenuePerForm990Amt07041682
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07041682
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07507758
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0262678
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LAWRENCE A MANIACI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0262678
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS AND EXECUTIVE DIRECTOR MET TO DETERMINE THE COMPENSATION OF THE EXECUTIVE DIRECTOR. OTHER ORGANIZATIONS OF SIMILAR SIZE AND SCOPE ARE EXAMINED FOR REASONABLENESS OF COMPENSATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIOR TO FILING, A COPY OF THE FORM 990 IS REVIEWED BY A NUMBER OF LEVELS OF MANAGEMENT, INCLUDING THE PERSON SIGNING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEE COMMENTS ON SCHEDULE J
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE AS REQUIRED BY LAW. PAPER COPIES ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01744837
IRS990/TotalAssetsEOYAmt01211913
IRS990/TotalAssetsGrp/BOYAmt01744837
IRS990/TotalAssetsGrp/EOYAmt01211913
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt0374
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0822642
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06685116
IRS990/TotalFunctionalExpensesGrp/TotalAmt07507758
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0680775
IRS990/TotalLiabilitiesEOYAmt0613927
IRS990/TotalLiabilitiesGrp/BOYAmt0680775
IRS990/TotalLiabilitiesGrp/EOYAmt0613927
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01064062
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0597986
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt06685116
IRS990/TotalProgramServiceRevenueAmt07030020
IRS990/TotalReportableCompFromOrgAmt0262678
IRS990/TotalRevenueGrp/ExclusionAmt011662
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07030020
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07041682
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01744837
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01211913
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01064062
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0597986
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 890
IRS990/USAddress/CityNm0GRAND RAPIDS
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049518
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDRE PIERRE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum06163018000
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOMES OF OPPORTUNITY INC
ReturnHeader/Filer/BusinessNameControlTxt0HOME
ReturnHeader/Filer/EIN0382329011
ReturnHeader/Filer/PhoneNum06163018000
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 890
ReturnHeader/Filer/USAddress/CityNm0GRAND RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd0495180890
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AB059FBD7F1E57062ABA5B9A364AC80805E08935
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01557335AFDF3E8491AF7A5F24CA6FB5A93547528
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt070.34.187.145
ReturnHeader/FilingSecurityInformation/IPDt02020-08-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm008:03:42
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381337372

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