HOMEWARD BOUND OF WESTERN NORTH CAROLINA INC (EIN 561568917) - 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

1987

Legal Domicile

Principal Officer

MELISSA DUONG

Phone

8282581695

Tax Period

2023-07-01 to 2024-06-30

HOMEWARD BOUND OF WESTERN NORTH CAROLINA INC, founded in 1987, is a community nonprofit in the Housing & Shelter sector that reported $8.2M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $9.1M exceeded revenue, resulting in a 10% operating deficit.

Mission

WORKING WITH OTHERS TO END THE CYCLE OF HOMELESSNESS WITH HOUSING AND CASE MANAGEMENT SUPPORT.

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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 $7,376,315

Program Service Revenue $778,333

Investment Income $69,187

Other Revenue $24,348

TOTAL REVENUE $8,248,183

Expense Breakdown

Grants Paid $2,926,831

Salaries & Benefits $4,536,441

Fundraising Expenses $387,414

Program Expenses $7,921,846

Other Expenses $1,625,831

TOTAL EXPENSES $9,089,103

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,248,183	$9,777,620	-0.2%
Expenses	$9,089,103	$7,964,972	+0.1%
Net Income	$-840,920	$1,812,648	-1.5%

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

130

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

$80,167

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELISSA DUONG	PRESIDENT	2.50	Officer Director	$0	$0	$0
JO IKELHEIMER	VICE PRESIDE	2.50	Officer Director	$0	$0	$0
ISAAC ROWLES	TREASURER	2.50	Officer Director	$0	$0	$0
JORGE REDMOND	SECRETARY	2.50	Officer Director	$0	$0	$0
BARBARA WRIGHT	PAST PRESIDE	2.50	Officer Director	$0	$0	$0
RODRIGO AFANDOR	BOARD MEMBER	2.50	Director	$0	$0	$0
AMBER BANKS	BOARD MEMBER	2.50	Director	$0	$0	$0
DAVID HAMILTON	BOARD MEMBER	2.50	Director	$0	$0	$0
CLAIRE HUBBARD	BOARD MEMBER	2.50	Director	$0	$0	$0
NEELY NEU	BOARD MEMBER	2.50	Director	$0	$0	$0
HEATHER NORTON	BOARD MEMBER	2.50	Director	$0	$0	$0
SHUCHIN SHUKLA	BOARD MEMBER	2.50	Director	$0	$0	$0
MAYUMI STEINS	BOARD MEMBER	2.50	Director	$0	$0	$0
WAYNE SWANTON	BOARD MEMBER	2.50	Director	$0	$0	$0
CHRIS YOUNGBLOOD	BRD MBER THR	2.50	Director	$0	$0	$0
KELLY PIERCE	VICE PRES TH	2.50	Officer Director	$0	$0	$0
SUSAN JOHNSON	INTERIM FIN	40.00	Officer	$76,112	$4,055	$80,167
TARA BOESTAN-SMITH	FINANCE DIRE	40.00	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	$8,248,183	$9,089,103	$23,077,274	$-840,920
2023	$9,777,620	$7,964,972	$22,615,245	$1,812,648
2022	$19,270,847	$7,430,195	$17,927,827	$11,840,652
2021	$7,947,393	$6,961,603	$7,613,383	$985,790
2020	$7,203,984	$5,621,249	$4,839,836	$1,582,735
2019	$5,089,084	$4,797,725	$2,307,993	$291,359
2018	$5,391,507	$4,903,377	$2,034,534	$488,130

HOMEWARD BOUND OF WESTERN NORTH CAROLINA INC