HOMEWARD (EIN 050606153) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

KELLY KING HORNE

Phone

8043432045

Tax Period

2024-07-01 to 2025-06-30

HOMEWARD, founded in 2002, is a community nonprofit in the Human Services sector that reported $1.4M in total revenue in fiscal year 2018. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $1.3M left a modest 9% surplus.

Mission

SUMMARY DESCRIPTION: HOMEWARD IS THE PLANNING AGENCY THAT SUPPORTS THE GREATER RICHMOND CONTINUUM OF CARE, A NETWORK OF HOMELESS SERVICE PROVIDERS THAT DELIVER COORDINATED AND COMPASSIONATE SOLUTIONS TO HOMELESSNESS IN THE RICHMOND REGION.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,911,747

Program Service Revenue $14,630

Investment Income $248,625

Other Revenue $0

TOTAL REVENUE $2,175,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,274,762

Fundraising Expenses $53,424

Program Expenses $2,507,580

Other Expenses $1,609,378

TOTAL EXPENSES $2,884,140

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,175,002	$2,514,604	-0.1%
Expenses	$2,884,140	$2,615,230	+0.1%
Net Income	$-709,138	$-100,626	+6.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$156,416

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN APOSTLE	DIRECTOR	0.20	Director	$0	$0	$0
MICHAEL BOWMAN	TREASURER	0.70	Officer Director	$0	$0	$0
WILLIAM CARTER	DIRECTOR	0.20	Director	$0	$0	$0
KEVIN HALLOCK	DIRECTOR	0.20	Director	$0	$0	$0
GUY CHAPMAN	IMMEDIATE PAST CHAIRMAN	0.20	Officer Director	$0	$0	$0
KATHERINE O'DONNELL	DIRECTOR	0.20	Director	$0	$0	$0
MARK HICKMAN	CHAIRMAN	0.20	Officer Director	$0	$0	$0
CHANDRA HURST	SECRETARY	0.20	Officer Director	$0	$0	$0
JAMES WORSLEY	DIRECTOR	0.20	Director	$0	$0	$0
DONALD RAIKES	DIRECTOR	0.20	Director	$0	$0	$0
TOM WOHLFARTH	DIRECTOR	0.20	Director	$0	$0	$0
BETH VANN-TURNBULL	DIRECTOR	0.20	Director	$0	$0	$0
ADRIENNE WHITAKER	DIRECTOR	0.20	Director	$0	$0	$0
KELLY KING HORNE	CHIEF EXECUTIVE OFFICER	40.00	Officer	$137,915	$18,501	$156,416

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$2,175,002	$2,884,140	$3,259,729	$-709,138
2024	$2,514,604	$2,615,230	$4,011,983	$-100,626
2023	$3,279,391	$3,156,065	$4,370,842	$123,326
2022	$5,310,962	$2,970,411	$3,517,405	$2,340,551
2021	$10,724,788	$10,390,883	$2,405,084	$333,905
2020	$2,845,072	$2,613,773	$1,070,691	$231,299
2019	$1,429,644	$1,299,772	$1,258,113	$129,872

HOMEWARD