Civic Intelligence

Homefree USA Inc.

990 • Fiscal year 2013 • EIN 52-1885132

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 11, 2014

Organization Profilewww.homefreeusa.org

View Organization Page

6200 Baltimore Avenue20737

(301) 891-8400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.66x

Higher debt load relative to assets than 81% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

69th percentile

0.48x

Higher debt load relative to revenue than 69% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

65th percentile

9.0%

Higher net margin than 65% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

66th percentile

$151,424

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Asset Growth

12th percentile

-7.3%

Faster asset growth than 12% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

88th percentile

53%

Faster revenue growth than 88% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2011 to 2013

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$5,420,543

Down $425,942 (-7.3%) from 2012

Net Assets

Up

$1,868,698

Up $662,647 (+55%) from 2012

Liabilities

Down

$3,551,845

Down $1,088,589 (-23%) from 2012

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin65th percentile

Revenue

$7,359,188

No earlier filing loaded for comparison.

Expenses

Down

$6,696,541

Down $654,763 (-8.9%) from 2012

Net Income

$662,647

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0-$5.0MAssets 2011: $1,665,532Liabilities 2011: $3,752,108Net Assets 2011: -$2,086,5762011Assets 2012: $5,846,485Liabilities 2012: $4,640,434Net Assets 2012: $1,206,0512012Assets 2013: $5,420,543Liabilities 2013: $3,551,845Net Assets 2013: $1,868,6982013Assets 2014: $7,286,609Liabilities 2014: $2,575,507Net Assets 2014: $4,711,1022014Assets 2015: $8,077,932Liabilities 2015: $3,042,882Net Assets 2015: $5,035,0502015Assets 2016: $7,269,759Liabilities 2016: $2,447,190Net Assets 2016: $4,822,5692016Assets 2017: $5,600,243Liabilities 2017: $3,404,251Net Assets 2017: $2,195,9922017Assets 2018: $7,452,427Liabilities 2018: $5,664,392Net Assets 2018: $1,788,0352018Assets 2019: $5,419,080Liabilities 2019: $4,158,225Net Assets 2019: $1,260,8552019Assets 2020: $6,644,741Liabilities 2020: $4,121,295Net Assets 2020: $2,523,4462020Assets 2021: $5,280,798Liabilities 2021: $3,382,633Net Assets 2021: $1,898,1652021Assets 2022: $7,003,294Liabilities 2022: $3,797,612Net Assets 2022: $3,205,6822022Assets 2023: $4,583,341Liabilities 2023: $1,625,255Net Assets 2023: $2,958,0862023Assets 2024: $12,198,740Liabilities 2024: $8,966,292Net Assets 2024: $3,232,4482024

Highlighted filing

2013

Assets$5,420,543
Liabilities$3,551,845
Net Assets$1,868,698
Open 2013 Filing

Operations Trend

Revenue Growth88th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MRevenue 2011: $3,144,239Expenses 2011: $4,364,914Net Income 2011: -$1,220,6752011Expenses 2012: $7,351,3042012Revenue 2013: $7,359,188Expenses 2013: $6,696,541Net Income 2013: $662,6472013Revenue 2014: $10,084,878Expenses 2014: $7,242,474Net Income 2014: $2,842,4042014Revenue 2015: $7,426,171Expenses 2015: $7,102,223Net Income 2015: $323,9482015Revenue 2016: $7,210,549Expenses 2016: $7,423,030Net Income 2016: -$212,4812016Revenue 2017: $5,907,151Expenses 2017: $7,958,432Net Income 2017: -$2,051,2812017Revenue 2018: $5,894,751Expenses 2018: $6,302,708Net Income 2018: -$407,9572018Revenue 2019: $5,344,974Expenses 2019: $5,872,154Net Income 2019: -$527,1802019Revenue 2020: $12,544,190Expenses 2020: $11,993,589Net Income 2020: $550,6012020Revenue 2021: $17,895,333Expenses 2021: $17,808,733Net Income 2021: $86,6002021Revenue 2022: $34,679,494Expenses 2022: $33,371,977Net Income 2022: $1,307,5172022Revenue 2023: $17,217,361Expenses 2023: $17,465,119Net Income 2023: -$247,7582023Revenue 2024: $11,298,683Expenses 2024: $11,024,321Net Income 2024: $274,3622024

Highlighted filing

2013

Revenue$7,359,188
Expenses$6,696,541
Net Income$662,647
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 11, 2014
Return Version
2013v3.1
Gross Receipts
$9,763,567
Mission and Program Overview

Mission

To inform, educate and prepare future and existing homeowners for guaranteed mortgage approval and lifelong financial success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,940,040$2,790,413▲ $850,373
Pledges and Grants Receivable$2,303,627$1,053,324▼ $1,250,303
Cash and Non-Interest-Bearing Accounts$528,697$682,219▲ $153,522
Land, Buildings, and Equipment, Net$93,533$109,649▲ $16,116
Other Notes and Loans Receivable, Net$69,428$54,384▼ $15,044
Receivables From Officers Etc$17,182$27,864▲ $10,682
Accounts Receivable$47,883$20,467▼ $27,416
Investments Other Securities$5,000$5,000→ $0
Prepaid Expenses and Deferred Charges-$3,698-
Savings and Temporary Cash Investments-$0-
Receivable From Disqualified Prsn-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$5,846,485$5,420,543▼ $425,942
Other Assets Total$841,095$673,525▼ $167,570
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,589,909$2,408,799▼ $181,110
Grants Payable$1,395,365$760,999▼ $634,366
Other Liabilities$400,212$265,334▼ $134,878
Accounts Payable and Accrued Expenses$178,684$73,929▼ $104,755
Deferred Revenue$76,264$42,784▼ $33,480
Total Liabilities$4,640,434$3,551,845▼ $1,088,589
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,453,627$980,756▼ $1,472,871
Unrestricted Net Assets$-1,247,576$887,942▲ $2,135,518
Total Net Assets Fund Balance$1,206,051$1,868,698▲ $662,647
Total Liabilities and Net Assets / Fund Balance$5,846,485$5,420,543▼ $425,942

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,480$229,006$236,486
Equipment$102,169$117,246$219,415
Other Assets Org$1,000--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marcia J GriffinPresidentFT$151,424$151,424
Earlene M FieldsSecretaryFT$54,605$54,605
James GriffinCOOFT$37,500$37,500

Board Members and Trustees

NameTitle
Lori Jones GibbsChairman
Joseph OhayonDirector
Kathy CummingsDirector
Paul WylieDirector
Scott ReedDirector
Gwendolyn ThomasTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
The Law Office Of Rosalind GriffieCounseling--
Revenue and Support

Revenue Composition

Contributions and Grants
$6,305,264
Program Service Revenue
$977,813
Investment Income
$-30,440
Other Revenue
$106,551
All Other Contributions
$2,286,647
Change in Net Assets
$662,647

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential26$1,273,201Est. Fair Market Value (FMV)
Total Noncash Contributions26$1,273,201-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,359,188
Total Revenue per Audited Statements
$7,359,188
Total Revenue per Form 990
$7,359,188
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,311,267
Other Expenses$2,297,317
Grants and Similar Amounts Paid$2,087,957
Total Fundraising Expense$62,026
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,087,957--$2,087,957
Other Salaries and Wages$1,482,130$250,549$40,445$1,773,124
All Other Expenses$245,775$33,442-$279,217
Current Officers, Directors, Trustees, and Key Employees$204,564$34,094$4,871$243,529
Payroll Taxes$160,794$16,826$9,349$186,969
Office Expenses$140,376$36,595-$176,971
Occupancy$118,985$3,959$1,979$124,923
Other Expenses$111,736$2,766-$111,736
Other Employee Benefits$92,574$9,689$5,382$107,645
Conferences and Meetings$91,810--$91,810
Interest$82,354--$82,354
Advertising$78,296--$78,296
Insurance$32,410--$32,410
Depreciation Depletion$24,412$6,103-$30,515
Total Functional Expenses$6,240,492$394,023$62,026$6,696,541

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,696,541
Total Expenses per Audited Statements$6,696,541
Total Expenses per Form 990$6,696,541
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
01-0638984--Counseling$182,140
62-1851924--Counseling$159,674
33-1095784--Counseling$158,670
20-4203798--Counseling$153,735
13-4011201--Counseling$152,419
04-3337726--Counseling$127,811
20-2526058--Counseling$104,081
95-4486925--Counseling$102,913
05-0570943--Counseling$96,695
84-0733257--Counseling$91,310
59-2951883--Counseling$86,239
43-1427341--Counseling$56,520
58-2157986--Counseling$51,535
87-0269683--Counseling$51,405
56-2641741--Counseling$49,681
59-3464941--Counseling$47,846
54-1480544--Counseling$43,781
31-1071854--Counseling$41,371
56-2196261--Counseling$40,950
20-5939777--Counseling$36,881
59-2026381--Counseling$36,689
62-1838671--Counseling$34,560
51-0251108--Counseling$34,276
51-0065747--Counseling$31,608
20-5001745--Counseling$28,579
23-7004882--Counseling$24,357
03-0417254--Counseling$16,122
30-0301380--Counseling$15,435
04-3606759--Counseling$13,472
32-0026605--Counseling$9,261
52-1585905--Counseling$7,941
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$17,182$27,864▲ $10,682
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advances From Affiliates$258,059
Deposits Payable$7,275
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“The president and chief operating officer are married”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by the chief operating officer before filing”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes available its governing documents, policies and financial statements when request is made”

Filing and Contact Details

Filer

EIN
52-1885132
Phone
3018918400

Signing Officer

Name
James Griffin
Title
COO
Signed
2014-08-11
Discuss with paid preparer
Yes

Organization Details

Formed
1994
Legal Domicile
Md
Voting Board Members
8
Independent Board Members
6
Employees
52

Preparer

Preparer
Bruce Pollekoff
Phone
7035069700
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization has obtained a tax-exempt status as defined under Section 501(c)(3) of the Internal Revenue Code. The Organization is not subject to income taxes in accordance with the income taxes topic of FASB ASC (formerly FIN 48). The income taxes topic of FASB ASC 740-10 clarifies the accounting for income taxes, by prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. It also provides guidance on derecognition, measurement and classification of amounts relating to uncertain tax positions, accounting for and disclosure of interest and penalties, accounting in interim periods, disclosures and transition relating to the adoption of the new accounting standards. The Organization adopted FASB ASC 740-10 as of January 1, 2009, as required, and determined that its adoption did not have a material impact on the Organizations financial position and results of operations.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05382
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IRS990/OtherExpensesGrp/Desc2PROFESSIONAL FEES
IRS990/OtherExpensesGrp/Desc3COMPUTER SUPPORT
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IRS990/OtherExpensesGrp/ProgramServicesAmt1166872
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IRS990/PayrollTaxesGrp/FundraisingAmt09349
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt016826
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IRS990/PayrollTaxesGrp/TotalAmt0186969
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IRS990/ProgramServiceRevenueGrp/BusinessCd1561000
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IRS990/ProgSrvcAccomActy2Grp/Desc0Project Rebound Program - Homefree USA acquires, rehabilitates and sells (or rents) foreclosed REO houses. Through this initiative, the Organization requests preferred access to REO owned units gifted or sold at below market prices to the Organization and its preferred affiliates.
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt027864
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IRS990/ReportLandBuildingEquipmentInd0true
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Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,420,543
Liabilities
$3,551,845
Net assets
$1,868,698
Revenue
$7,359,188
Expenses
$6,696,541
Net income
$662,647
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.2$8.97$3.23$11.3$11.0$0.27
2023Detailed filing. Detailed filing data is available for this year.$4.58$1.63$2.96$17.2$17.5$0.25
2022Detailed filing. Detailed filing data is available for this year.$7.00$3.80$3.21$34.7$33.4$1.31
2021Detailed filing. Detailed filing data is available for this year.$5.28$3.38$1.90$17.9$17.8$0.09
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.64$4.12$2.52$12.5$12.0$0.55
2019Summary only. Only limited summary data is available for this year.$5.42$4.16$1.26$5.34$5.87$0.53
2018Summary only. Only limited summary data is available for this year.$7.45$5.66$1.79$5.89$6.30$0.41
2017Summary only. Only limited summary data is available for this year.$5.60$3.40$2.20$5.91$7.96$2.05
2016Detailed filing. Detailed filing data is available for this year.$7.27$2.45$4.82$7.21$7.42$0.21
2015Detailed filing. Detailed filing data is available for this year.$8.08$3.04$5.04$7.43$7.10$0.32
2014Detailed filing. Detailed filing data is available for this year.$7.29$2.58$4.71$10.1$7.24$2.84
2013Detailed filing. Detailed filing data is available for this year.$5.42$3.55$1.87$7.36$6.70$0.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.85$4.64$1.21$7.35
2011Summary only. Only limited summary data is available for this year.$1.67$3.75$2.09$3.14$4.36$1.22