CITY FIRST HOMES INC

EIN: 262335395 501(c)(3) Housing & Shelter

WASHINGTON, DC

Total Revenue
$1,620,949
Total Expenses
$773,021
Total Assets
$6,723,367
Net Assets
$4,881,416
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
DC
Principal Officer
OSWALDO ACOSTA
Phone
2027454490
Tax Period
2024-01-01 to 2024-12-31

CITY FIRST HOMES INC, founded in 2007, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 2121% from the prior year, signaling strong growth momentum. The organization ran a surplus of $848K, a strong 52% operating margin.

Mission

CITY FIRST HOMES (DBA HOMES BY CFE) INCREASES HOMEOWNERSHIP FOR LOW- TO MODERATE-INCOME HOUSEHOLDS, STRENGTHENING DISINVESTED COMMUNITIES AND HELPING TO BUILD GENERATIONAL WEALTH AND OPPORTUNITY.

Program Service Accomplishments

Program 1
Expenses: $554,791

CITY FIRST HOMES (CFH) SUPPORTS AFFORDABLE HOUSING IN THE DISTRICT OF COLUMBIA AND MARYLAND. IN 2022 WE REBRANDED CFH AS "HOMES BY CFE AND LAUNCHED A SPECIAL PURPOSE CREDIT PROGRAM TO PROVIDE...

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CITY FIRST HOMES (CFH) SUPPORTS AFFORDABLE HOUSING IN THE DISTRICT OF COLUMBIA AND MARYLAND. IN 2022 WE REBRANDED CFH AS "HOMES BY CFE AND LAUNCHED A SPECIAL PURPOSE CREDIT PROGRAM TO PROVIDE BORROWERS WITH ACCESS TO AFFORDABLE DOWN PAYMENT AND CLOSING COST ASSISTANCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,360,048
Program Service Revenue $0
Investment Income $171,863
Other Revenue $89,038
TOTAL REVENUE $1,620,949

Expense Breakdown

Grants Paid $75,781
Salaries & Benefits $509,261
Fundraising Expenses $68,629
Program Expenses $554,791
Other Expenses $187,979
TOTAL EXPENSES $773,021

Year-over-Year Comparison

2024 2023 Change
Revenue $1,620,949 $72,969 +21.2%
Expenses $773,021 $335,336 +1.3%
Net Income $847,928 $-262,367 -4.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
10
Employees
N/A
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
5
$362,606
Total Directors
7
$362,606
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
OSWALDO ACOSTA PRESIDENT AND CHIEF EXECUTIVE OFFICER 40.00
Officer Director
$0 $0 $362,606
DR WILLIAM LONGBRAKE DIRECTOR 1.00
Director
$0 $0 $0
CHUCK MUCKENFUSS DIRECTOR 1.00
Director
$0 $0 $0
PRIYA JAYACHANDRAN DIRECTOR 1.00
Director
$0 $0 $0
LORI CHATMAN DIRECTOR 1.00
Director
$0 $0 $0
AMBER KUCHER BELL DIRECTOR 1.00
Director
$0 $0 $0
ESTRELLA LUCERO DIRECTOR 1.00
Director
$0 $0 $0
BRIAN ARGRETT CHAIRMAN OF THE BOARD 1.00
Officer
$0 $0 $0
DAVID MCGRADY VICE-CHAIRMAN OF THE BOARD 1.00
Officer
$0 $0 $0
SHANNON SCOTT TREASURER 1.00
Officer
$0 $0 $0
MARY ANN DONOVAN SECRETARY 1.00
Officer
$0 $0 $0
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 No data No data No data No data
2024 $1,620,949 $773,021 $6,723,367 $847,928
2023 $72,969 $335,336 $7,035,465 $-262,367
2022 $589,290 $304,305 $4,426,453 $284,985
2021 $3,816,749 $282,353 $4,619,468 $3,534,396
2020 $1,174,800 $1,312,069 $5,293,292 $-137,269
2019 $535,235 $937,517 $4,549,542 $-402,282
2018 $767,803 $691,353 $4,722,779 $76,450
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