Home Means Nevada Inc HMN

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2012

Legal Domicile

Principal Officer

Perry Faigin

Phone

7024868180

Tax Period

2023-07-01 to 2024-06-30

Home Means Nevada Inc HMN, founded in 2012, is a small nonprofit in the Housing & Shelter sector that reported $441K in total revenue in fiscal year 2023. Revenue fell 74% from the prior year — a significant decline worth monitoring.

Mission

Home Means Nevada, Inc. (HMN), a state affiliated nonprofit organization, provides systems, information, and other assistance to address the challenges and needs of distressed homeowners and renters in the State of Nevada. HMN administers the State's Foreclosure Mediation Program, as established with the passage of Senate Bill 490. Senate Bill I, passed during the 32nd Special Session of the Nevada Legislature (2020), implemented a temporary Rental Eviction Mediation Program. On September 29, 2020, the Nevada Supreme Court adopted rules for the Program. On October 14, 2020, HMN was named the Administrator of the program. Assembly Bill 486 passed during the 81st Regular Session of the Nevada Legislature (2021), extended the Rental Eviction Mediation Program, and added a requirement for HMN to create an electronic form for landlord rental assistance program through designated social services agencies. The Rental Eviction Mediation program concluded on December 31, 2022.

Program Service Accomplishments

Program 1

Expenses: $376,842

Home Means Nevada (HMN) performs certain functions of the Foreclosure Mediation Program (FMP) for the State of Nevada. HMN creates certain notices that trustees may serve to the grantors of record on owner-occupied properties. HMN provides to the trustee a certificate if property is an owner-occupied property as defined in NRS 107.086(19)(d) and satisfies the requirement for a certificate as set forth in NRS 107.086(4) or (8) because either: (1) no petition for mediation was filed; (2) the petition for mediation was dismissed, and/or, (3) A court order was issued directing the issuance of a certificate. HMN provides to certain persons a copy of the petition HMN receives to participate in mediation by certified mail or electronically. HMN has developed a portal that can be used by certain parties in order to facilitate the FMP process for the parties involved. Upon completion of mediation the District Court notifies HMN of the case outcome.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $440,118

Program Service Revenue $0

Investment Income $969

Other Revenue $0

TOTAL REVENUE $441,087

Expense Breakdown

Grants Paid $0

Salaries & Benefits $210,896

Fundraising Expenses $0

Program Expenses $376,842

Other Expenses $230,728

TOTAL EXPENSES $441,624

Year-over-Year Comparison

	2023	2022	Change
Revenue	$441,087	$1,720,464	-0.7%
Expenses	$441,624	$1,721,498	-0.7%
Net Income	$-537	$-1,034	-0.5%

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

$75,988

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michelle D Crumby	Ops Mgr	40.00	Officer	$75,988	$0	$75,988
Perry Faigin	President	5.00	Officer Director	$0	$0	$0
Shannon Chambers	Member	2.00	Director	$0	$0	$0
John McCormick	Member	2.00	Director	$0	$0	$0
Jennifer Yim	Member	2.00	Director	$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	$441,087	$441,624	$170,642	$-537
2023	$1,720,464	$1,721,498	$34,238	$-1,034
2022	$2,008,130	$2,008,446	$480,495	$-316
2021	$821,666	$821,748	$505,429	$-82
2020	$454,993	$454,918	$108,233	$75
2019	$528,724	$665,646	$135,535	$-136,922