HOMES FIRST

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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

1990

Legal Domicile

Principal Officer

EVETTE TEMPLE

Phone

3602360920

Tax Period

2023-01-01 to 2023-12-31

HOMES FIRST, founded in 1990, is a community nonprofit in the Youth Development sector that reported $2.7M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $662K, a strong 25% operating margin.

Mission

TO CREATE AND MAINTAIN SAFE, HEALTHY, AND AFFORDABLE RENTAL HOMES FOR THOSE WHO NEED THEM MOST.

Program Service Accomplishments

Program 1

Expenses: $1,325,148 Revenue: $1,425,470

IN 2023, HOMES FIRST SAW SUBSTANTIAL GROWTH IN ORGANIZATIONAL DEVELOPMENT, PERSONAL AND PROFESSIONAL ADVANCEMENTS OF OUR TEAM, AND A POSITIVE IMPACT ON THOSE WE SERVE. THROUGHOUT THE YEAR, OUR...

IN 2023, HOMES FIRST SAW SUBSTANTIAL GROWTH IN ORGANIZATIONAL DEVELOPMENT, PERSONAL AND PROFESSIONAL ADVANCEMENTS OF OUR TEAM, AND A POSITIVE IMPACT ON THOSE WE SERVE. THROUGHOUT THE YEAR, OUR COMMITMENT TO PROVIDING QUALITY SERVICE AND SUPPORT REMAINED UNWAVERING, FOSTERING A CULTURE OF CONTINUOUS IMPROVEMENT AND RESILIENCE. THE COLLABORATIVE EFFORTS OF OUR PASSIONATE WORKFORCE, COUPLED WITH A STEADFAST DEDICATION TO OUR MISSION, PROPELLED HOMES FIRST TO NEW HEIGHTS, MARKING 2023 AS A PIVOTAL CHAPTER IN OUR JOURNEY TOWARD CREATING LASTING POSITIVE CHANGE IN THE COMMUNITIES WE SERVE.

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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 $1,603,989

Program Service Revenue $1,081,054

Investment Income $2,428

Other Revenue $-15,806

TOTAL REVENUE $2,671,665

Expense Breakdown

Grants Paid $0

Salaries & Benefits $868,203

Fundraising Expenses $170,863

Program Expenses $1,325,148

Other Expenses $1,141,530

TOTAL EXPENSES $2,009,733

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,671,665	$2,111,144	+0.3%
Expenses	$2,009,733	$1,626,305	+0.2%
Net Income	$661,932	$484,839	+0.4%

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

165

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

$113,300

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WAYNE SOUZA	DIRECTOR	1.00	Director	$0	$0	$0
THOMASINA COOPER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOEY DEBAKKER	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS LESTER	PRESIDENT/CHAIR	1.00	Officer Director	$0	$0	$0
LEATTA DAHLHOFF	TREASURER	1.00	Officer Director	$0	$0	$0
DANNETTE MOLINA	DIRECTOR	1.00	Director	$0	$0	$0
RENEE LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
JEANINE ROE	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON GLENN	DIRECTOR	1.00	Director	$0	$0	$0
MARY ROBERTS	DIRECTOR	1.00	Director	$0	$0	$0
EVETTE TEMPLE	TREASURER	1.00	Officer Director	$0	$0	$0
RACHEL SCHMIDT	SECRETARY	1.00	Officer Director	$0	$0	$0
TRUDY SOUCOUP	CEO	40.00	Officer	$110,000	$3,300	$113,300

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	$2,671,665	$2,009,733	$13,514,993	$661,932
2022	$2,111,144	$1,626,305	$11,168,103	$484,839
2021	$1,390,507	$1,333,325	$9,105,012	$57,182
2020	$1,439,885	$1,193,753	$8,945,948	$246,132
2019	$1,103,021	$1,170,990	$8,601,568	$-67,969
2018	$1,182,441	$1,055,155	$7,900,779	$127,286