First Home Alliance Inc
- Assets
- $9.2k
- Revenue
- $342.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Woodbridge, VA
- Founding
- 06/2003
- Data as of
- 12/2021
- EIN
- 32-0026605
Organization Overview
First Home Alliance Inc is located in Woodbridge, VA. The organization was established in 2003. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, First Home Alliance Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Home Alliance 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 12/2021, First Home Alliance Inc generated $342.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $454.2k during the year ending 12/2021. While expenses have increased by 8.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES HOMEBUYER EDUCATION PROGRAMS IN FINANCIAL LITERACY, INTRODUCTION TO HOME OWNERSHIP, FORECLOSURE PREVENTION, LOSS MITIGATION AND ONE ON ONE COUNSELING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNDER ITS HOMEBUYER EDUCATION PROGRAMS, THE ORGANIZATION ASSISTED HUNDREDS OF HOMEBUYERS IN FINANCIAL LITERACY, INTRODUCTION TO HOME OWNERSHIP AND FORECLOSURE INTERVENTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Laws Executive Director | OfficerTrustee | 40 | $0 |
Shauna Davey Treasurer | OfficerTrustee | 1 | $0 |
Donald Scoggins Chairman Of The Board | OfficerTrustee | 1 | $0 |
Duwan Cratch Secretary | OfficerTrustee | 1 | $0 |
Thomas Hunt Director | Trustee | 1 | $0 |
Lori Willis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $259,662 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,348 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $303,010 |
| Total Program Service Revenue | $28,530 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,175 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $342,715 |
| 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. | $50,833 |
| Compensation of current officers, directors, key employees. | $2,543 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,443 |
| Payroll taxes | $11,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,782 |
| Office expenses | $10,916 |
| Information technology | $2,143 |
| Royalties | $0 |
| Occupancy | $31,027 |
| Travel | $23,419 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,789 |
| Interest | $3,042 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,967 |
| All other expenses | $7,838 |
| Total functional expenses | $454,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,180 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,180 |
| Accounts payable and accrued expenses | $113,029 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $113,029 |
| Net assets without donor restrictions | -$103,849 |
| Net assets with donor restrictions | $0 |
| 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 | $9,180 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that First Home Alliance Inc has recieved totaling $122,392.
| Awarding Organization | Amount |
|---|---|
Human Services Alliance Of Greater Prince William Manassas, VA PURPOSE: Funds were used to provide assistance with donated goods, utilities, rent/mortgage and access to healthcare. | $100,000 |
Homefree Usa Inc Landover, MD PURPOSE: Property purchased for renovation and sale ot low and moderate income potential home owners. | $22,375 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $17 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Washington Housing Conservancy Inc Washington, DC | $420,260,184 | $21,973,797 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |