HOMEFREE USA INC (EIN 521885132) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Phone

3018918406

Tax Period

2023-01-01 to 2023-12-31

HOMEFREE USA INC, founded in 1994, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $17.2M in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring.

Mission

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

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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 $15,969,037

Program Service Revenue $1,156,896

Investment Income $-153,979

Other Revenue $245,407

TOTAL REVENUE $17,217,361

Expense Breakdown

Grants Paid $9,643,062

Salaries & Benefits $4,204,724

Fundraising Expenses $866,173

Program Expenses $13,368,933

Other Expenses $3,617,333

TOTAL EXPENSES $17,465,119

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,217,361	$34,679,494	-0.5%
Expenses	$17,465,119	$33,371,977	-0.5%
Net Income	$-247,758	$1,307,517	-1.2%

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

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

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

$1,041,637

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Marcia J Griffin	President CEO	40.00	Officer	$360,811	$0	$360,811
Gwendolyn Garnett	Board Member	40.00	Officer	$114,211	$0	$114,211
Paul Koches	Director	1.00	Director	$0	$0	$0
James M Griffin	Exec VP	40.00	Officer	$244,927	$0	$244,927
Christine Gould	Senior Communications Officer	40.00		$15,261	$0	$15,261
Simone Griffin	Operations Manger	40.00	Officer	$101,992	$0	$101,992
Milan Griffin	Chief Operations Officer	40.00	Officer	$113,376	$0	$113,376
Michael Waldreon	Board Chair	1.00	Director	$0	$0	$0
Marion Cantlo	Chief Information Officer	40.00	Officer	$106,320	$0	$106,320
Frank Sims	Board Director	1.00	Director	$0	$0	$0
Megan Moore	Board Director	1.00	Director	$0	$0	$0
Joseph Ohayon	Board Director	1.00	Director	$0	$0	$0
Efe Aghimien	Board Director	1.00	Director	$0	$0	$0
William Lewis	Board Director	1.00	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
2024	No data	No data	No data	No data
2023	$17,217,361	$17,465,119	$4,583,341	$-247,758
2022	$34,679,494	$33,371,977	$7,003,294	$1,307,517
2021	$17,895,333	$17,808,733	$5,280,798	$86,600
2020	$12,544,190	$11,993,589	$6,644,741	$550,601

HOMEFREE USA INC