Heading Home Inc
- Assets
- $19.6m
- Revenue
- $21.3m
- Investments
- $0.0
- Employees
- 149
- Location
- Boston, MA
- Founding
- 12/1974
- Data as of
- 06/2022
- EIN
- 23-7364546
Organization Overview
Heading Home Inc is located in Boston, MA. The organization was established in 1974. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Heading Home Inc employed 149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heading Home Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Heading Home Inc generated $21.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $18.5m during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HEADING HOME'S MISSION IS TO END HOMELESSNESS IN GREATER BOSTON BY PROVIDING A SUPPORTED PATHWAY TO SELF-SUFFICIENCY THAT BEGINS WITH A HOME, TOGETHER WITH CRITICAL SERVICES SUCH AS LIFE SKILLS, FINANCIAL LITERACY, AND JOB TRAINING. HEADING HOME PROVIDES EMERGENCY, TRANSITIONAL AND PERMANENT HOUSING, AND SUPPORT SERVICES, TO LOW-INCOME HOMELESS AND FORMERLY HOMELESS FAMILIES AND INDIVIDUALS IN THE COMMUNITIES OF BOSTON, CAMBRIDGE, CHELSEA, EVERETT, MALDEN, MEDFORD, QUINCY, REVERE, AND SOMERVILLE. AS OUR NAME REFLECTS, WE BELIEVE THAT A STABLE HOME PROVIDES THEOPTIMAL FOUNDATION TO GET BACK ON TRACK; OUR PROGRAMS FOCUS HEAVILY ONASSESSMENT, ENGAGEMENT, INDIVIDUAL GOAL-SETTING AND SECURING PERMANENTHOUSING FOR OUR CLIENTS AS QUICKLY AS POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERGENCY SHELTER CONSISTS OF A PLACE TO STAY, SUPPORTIVE SERVICES INCLUDING ASSISTANCE IN FINDING PERMANENT HOUSING, AND IN SOME CASES MEALS AND BASIC SUPPLIES. SERVICES ARE TEMPORARY AND ARE INTENDED TO BE RELATIVELY SHORT IN DURATION.
PERMANENT SUPPORTIVE HOUSING CONSISTS OF SUBSIDIZED HOUSING ANDSUPPORTIVE SERVICES FOR CERTAIN FORMERLY HOMELESS INDIVIDUALS AND FAMILIES. IT IS NOT TIME-LIMITED, THOUGH MANY PARTICIPANTS MOVE ON TO OTHER HOUSING AFTER SEVERAL YEARS.
TRANSITIONAL HOUSING - TRANSITIONAL HOUSING CONSISTS OF HOUSING AND SUPPORTIVE SERVICES THAT ARE AVAILABLE FOR 18-24 MONTHS TO HELP PARTICIPANTS MAKE THE TRANSITION FROM HOMELESSNESS TO PERMANENT HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danielle Ferrier Chief Executive Officer | Officer | 39 | $225,422 |
Suzanne Picher Chief Development Officer | 39 | $166,764 | |
Krystyna Dougert Chief Financial Officer | Officer | 39 | $164,806 |
Lisa Schoor Kaplan Chief Operating Officer | 39 | $153,674 | |
Shannon Secrist Senior Director Of Program | 39 | $104,428 | |
Jessica Ferrer Senior Director Of Human Resources | 39 | $103,359 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Peter Fallon General Construction | 6/29/22 | $571,360 |
Bald Hill Builders Llc General Construction | 6/29/22 | $252,042 |
Flynn Group Consulting Consulting | 6/29/22 | $239,907 |
Classic Cleanouts Inc Trash Removal | 6/29/22 | $155,138 |
Wright Technology Group It Consulting | 6/29/22 | $132,111 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $214,871 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,755,943 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,453,600 |
| Noncash contributions included in lines 1a–1f | $163,082 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,424,414 |
| Total Program Service Revenue | $165,223 |
| Investment income | $112,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $567,672 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,349,930 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $458,904 |
| Compensation of current officers, directors, key employees. | $458,904 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,025,343 |
| Pension plan accruals and contributions | $126,017 |
| Other employee benefits | $539,877 |
| Payroll taxes | $405,236 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $109,364 |
| Fees for services: Accounting | $67,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,185 |
| Fees for services: Other | $1,822,600 |
| Advertising and promotion | $0 |
| Office expenses | $205,120 |
| Information technology | $232,619 |
| Royalties | $0 |
| Occupancy | $9,421,035 |
| Travel | $78,395 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $305,507 |
| Insurance | $12,625 |
| All other expenses | $0 |
| Total functional expenses | $18,482,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,084,447 |
| Savings and temporary cash investments | $52,379 |
| Pledges and grants receivable | $22,693 |
| Accounts receivable, net | $1,825,827 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $93,690 |
| Net Land, buildings, and equipment | $8,620,397 |
| Investments—publicly traded securities | $2,506,644 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,398,458 |
| Total assets | $19,604,535 |
| Accounts payable and accrued expenses | $1,726,733 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,315,774 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,160,410 |
| Total liabilities | $10,202,917 |
| Net assets without donor restrictions | $7,034,684 |
| Net assets with donor restrictions | $2,366,934 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,604,535 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Heading Home Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Franklin Square House Belmont, MA PURPOSE: HOUSING AND SHELTER GRANTS | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heading Home Inc Boston, MA | $19,604,535 | $21,349,930 |
Mutual Housing Association Of South Central Connecticut Inc New Haven, CT | $47,838,595 | $8,401,880 |
Lcg Community Services Inc Brooklyn, NY | $2,005,849 | $5,179,376 |
St Marys Residence Of New York Inc New York, NY | $8,322,772 | $2,048,559 |
Kids In Crisis Inc Cos Cob, CT | $14,979,065 | $5,843,173 |
Mission E4 Inc Hubbardston, MA | $4,251,068 | $4,162,728 |
Homes With Hope Inc Westport, CT | $5,182,500 | $3,447,647 |
Felicity House Inc New York, NY | $4,733,154 | $4,501,074 |
456 West 129 Street Housing Corp New York, NY | $222,723 | $2,156,739 |
Mohawk Valley Community College Dormitory Corp Utica, NY | $11,430,493 | $1,921,749 |
Providence Ministries For The Needy Inc Holyoke, MA | $996,921 | $1,849,889 |
Bowdoin Manor Housing Inc Boston, MA | $8,217,374 | $1,802,793 |