Civic Intelligence

Housing Oriented Ministries Established for Services Inc.

990 • Fiscal year 2023 • EIN 61-1060053

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 25, 2024

Organization Profile

View Organization Page

65 Bentley AvenueWhitesburg, KY 41858

(606) 632-1717

Siviq Scores

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

Liabilities / Assets

67th percentile

0.30x

Higher debt load relative to assets than 67% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

71st percentile

0.45x

Higher debt load relative to revenue than 71% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

83rd percentile

32%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

41st percentile

$106,594

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

85th percentile

34%

Faster asset growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

117%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$6,186,510

Up $1,560,531 (+34%) from 2022

Net Assets

Up

$4,338,674

Up $1,660,590 (+62%) from 2022

Liabilities

Down

$1,847,836

Down $100,059 (-5.1%) from 2022

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin83rd percentile

Revenue

Up

$4,132,386

Up $2,224,417 (+117%) from 2022

Expenses

Up

$2,819,318

Up $715,040 (+34%) from 2022

Net Income

Up

$1,313,068

Up $1,509,377 (+769%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $6,599,725Liabilities 2011: $2,342,554Net Assets 2011: $4,257,1712011Assets 2012: $6,118,571Liabilities 2012: $2,003,027Net Assets 2012: $4,115,5442012Assets 2013: $5,836,261Liabilities 2013: $2,983,605Net Assets 2013: $2,852,6562013Assets 2014: $5,782,906Liabilities 2014: $3,080,494Net Assets 2014: $2,702,4122014Assets 2015: $5,747,712Liabilities 2015: $2,866,908Net Assets 2015: $2,880,8042015Assets 2016: $5,540,600Liabilities 2016: $2,631,884Net Assets 2016: $2,908,7162016Assets 2017: $5,377,016Liabilities 2017: $2,571,328Net Assets 2017: $2,805,6882017Assets 2018: $5,057,907Liabilities 2018: $2,266,638Net Assets 2018: $2,791,2692018Assets 2019: $4,818,995Liabilities 2019: $2,282,958Net Assets 2019: $2,536,0372019Assets 2020: $4,971,868Liabilities 2020: $2,166,233Net Assets 2020: $2,805,6352020Assets 2021: $4,376,906Liabilities 2021: $1,430,500Net Assets 2021: $2,946,4062021Assets 2022: $4,625,979Liabilities 2022: $1,947,895Net Assets 2022: $2,678,0842022Assets 2023: $6,186,510Liabilities 2023: $1,847,836Net Assets 2023: $4,338,6742023Assets 2024: $5,836,354Liabilities 2024: $1,628,495Net Assets 2024: $4,207,8592024

Highlighted filing

2023

Assets$6,186,510
Liabilities$1,847,836
Net Assets$4,338,674
Open 2023 Filing

Operations Trend

Revenue Growth93rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,301,1742011Revenue 2012: $1,272,336Expenses 2012: $1,364,215Net Income 2012: -$91,8792012Expenses 2013: $1,404,6112013Revenue 2014: $1,473,103Expenses 2014: $1,415,860Net Income 2014: $57,2432014Revenue 2015: $1,591,092Expenses 2015: $1,324,209Net Income 2015: $266,8832015Revenue 2016: $830,554Expenses 2016: $998,874Net Income 2016: -$168,3202016Revenue 2017: $1,238,044Expenses 2017: $1,289,654Net Income 2017: -$51,6102017Revenue 2018: $957,501Expenses 2018: $1,057,717Net Income 2018: -$100,2162018Revenue 2019: $918,566Expenses 2019: $1,090,171Net Income 2019: -$171,6052019Revenue 2020: $1,410,041Expenses 2020: $1,225,239Net Income 2020: $184,8022020Revenue 2021: $1,775,370Expenses 2021: $1,695,871Net Income 2021: $79,4992021Revenue 2022: $1,907,969Expenses 2022: $2,104,278Net Income 2022: -$196,3092022Revenue 2023: $4,132,386Expenses 2023: $2,819,318Net Income 2023: $1,313,0682023Revenue 2024: $3,295,371Expenses 2024: $3,426,186Net Income 2024: -$130,8152024

Highlighted filing

2023

Revenue$4,132,386
Expenses$2,819,318
Net Income$1,313,068
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 25, 2024
Return Version
2022v5.0
Gross Receipts
$4,132,386
Mission and Program Overview

Mission

Low income/elderly housing

See attached.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,999,316$3,589,610▲ $590,294
Accounts Receivable$1,329,404$1,306,824▼ $22,580
Cash and Non-Interest-Bearing Accounts$38,591$1,221,320▲ $1,182,729
Inventories for Sale or Use-$14,357-
Savings and Temporary Cash Investments$191,904$1,653▼ $190,251
Total Assets$4,625,979$6,186,510▲ $1,560,531
Other Assets Total$66,764$52,746▼ $14,018
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,850,863$1,116,988▼ $733,875
Other Liabilities$32,751$562,755▲ $530,004
Accounts Payable and Accrued Expenses$64,281$168,093▲ $103,812
Total Liabilities$1,947,895$1,847,836▼ $100,059
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,678,084$3,989,236▲ $1,311,152
Net Assets With Donor Restrictions-$349,438-
Total Net Assets Fund Balance$2,678,084$4,338,674▲ $1,660,590
Total Liabilities and Net Assets / Fund Balance$4,625,979$6,186,510▲ $1,560,531

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,656,521$1,722,251$4,378,772
Equipment$423,790$362,488$786,278
Land$509,299-$509,299
Other Assets Org$35,549--
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Seth LongExecutive DirectorFT$84,071$22,523$106,594

Board Members and Trustees

NameTitle
James CaudillChairman
Berma MatthewsBoard Member
Corey TerryBoard Member
Darlene WarfBoard Member
Jeffery JusticeBoard Member
Nancy WhitakerBoard Member
Reed CaudillBoard Member
Gwen ChristianSecretary
Dennis W FlemingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,946,814
Program Service Revenue
$484,221
Investment Income
$186,216
Other Revenue
$515,135
All Other Contributions
$1,996,227
Change in Net Assets
$1,313,068

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,132,386
Total Revenue per Audited Statements
$4,132,386
Total Revenue per Form 990
$4,132,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,224,813
Salaries, Compensation, and Employee Benefits$594,505
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$324,632$139,128-$463,760
Depreciation Depletion$137,934$59,115-$197,049
Fees for Services Other$106,019$45,437-$151,456
All Other Expenses$96,979$12,239-$109,218
Other Employee Benefits$45,836$19,645-$65,481
Payroll Taxes$26,845$11,505-$38,350
Pension Plan Contributions$18,840$8,074-$26,914
Interest-$19,570-$19,570
Insurance$5,141$10,529-$15,670
Fees for Services Accounting-$9,700-$9,700
Office Expenses-$5,111-$5,111
Travel-$4,909-$4,909
Information Technology-$3,823-$3,823
Other Expenses$1,671,792$3,537-$3,537
Fees for Services Legal-$2,439-$2,439
Occupancy-$1,969-$1,969
Total Functional Expenses$2,434,018$385,300$0$2,819,318

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,819,318
Total Expenses per Audited Statements$2,819,318
Total Expenses per Form 990$2,819,318
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Revenue$562,755
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990 is reviewed by the governing body and executive director prior to submission.”

Conflict of interest policy compliance Part VI line 12C

“Board members, at least annually, provide attestation statements indicating any potential conflicts or no conflicts.”

Governing documents etc available to public Part VI line 19

“Any information the organization has is available to the public excepting sensitive documents related to personal information of employees and clients. The information may be inspected during normal business hours with prior notice.”

Filing and Contact Details

Filer

Filer Name
Housing Oriented Ministries Established for Servic
EIN
61-1060053
Address
65 BENTLEY AVENUE, Whitesburg, KY 41858
Doing Business As
Homes Incorporated

Signing Officer

Name
Seth Long
Title
Executive Direc
Phone
6066321717
Signed
2024-04-25
Discuss with paid preparer
Yes

Organization Details

Formed
1985
Legal Domicile
Ky
Voting Board Members
9
Independent Board Members
9
Employees
28

Preparer

Firm
Chris Gooch CPA
Address
PO BOX 1536, Hazard, KY 41702
Preparer
Chris Gooch
Phone
6064365700
Supplemental Narrative

Additional Explanations

General explanation attachment

“Part III, Line 1, Organizational Mission:HOMES, Inc. mission is to provide affordable housing as a major strategy of community revitalization that creates healthy community solutions in a region struggling with the effects of generational persistent poverty. HOMES, Inc. focuses on creating greater wealth through developing energy efficient housing, both homes for sale and rent, and quality home repairs that reduce the cost of ownership. Combined with developing affordable housing solutions is HOMES, Inc.s goal of enabling job creation and training through social enterprise activities such as solar system installations and, other economic development solutions that gneerates greater walth and vitality in our services region.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is reviewed by the governing body and executive director prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members, at least annually, provide attestation statements indicating any potential conflicts or no conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Any information the organization has is available to the public excepting sensitive documents related to personal information of employees and clients. The information may be inspected during normal business hours with prior notice.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Part III, Line 1, Organizational Mission:HOMES, Inc. mission is to provide affordable housing as a major strategy of community revitalization that creates healthy community solutions in a region struggling with the effects of generational persistent poverty. HOMES, Inc. focuses on creating greater wealth through developing energy efficient housing, both homes for sale and rent, and quality home repairs that reduce the cost of ownership. Combined with developing affordable housing solutions is HOMES, Inc.s goal of enabling job creation and training through social enterprise activities such as solar system installations and, other economic development solutions that gneerates greater walth and vitality in our services region.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3General explanation attachment
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,186,510
Liabilities
$1,847,836
Net assets
$4,338,674
Revenue
$4,132,386
Expenses
$2,819,318
Net income
$1,313,068
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.84$1.63$4.21$3.30$3.43$0.13
2023Detailed filing. Detailed filing data is available for this year.$6.19$1.85$4.34$4.13$2.82$1.31
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.63$1.95$2.68$1.91$2.10$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.38$1.43$2.95$1.78$1.70$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.97$2.17$2.81$1.41$1.23$0.18
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.82$2.28$2.54$0.92$1.09$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.06$2.27$2.79$0.96$1.06$0.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.38$2.57$2.81$1.24$1.29$0.05
2016Detailed filing. Detailed filing data is available for this year.$5.54$2.63$2.91$0.83$1.00$0.17
2015Detailed filing. Detailed filing data is available for this year.$5.75$2.87$2.88$1.59$1.32$0.27
2014Detailed filing. Detailed filing data is available for this year.$5.78$3.08$2.70$1.47$1.42$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.84$2.98$2.85$1.40
2012Summary only. Only limited summary data is available for this year.$6.12$2.00$4.12$1.27$1.36$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.60$2.34$4.26$1.30