Nw Homestart Inc
- Assets
- $1.6m
- Revenue
- $824.6k
- Investments
- $0.0
- Employees
- 16
- Location
- Freeport, IL
- Founding
- 10/1997
- Data as of
- 12/2021
- EIN
- 36-4143938
Organization Overview
Nw Homestart Inc is located in Freeport, IL. The organization was established in 1997. 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, Nw Homestart Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nw Homestart 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, Nw Homestart Inc generated $824.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 4.4% 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
TO CREATE VIBRANT, HEALTHY COMMUNITIES IN NORTHERN ILLINOIS BY CONNECTING INDIVIDUALS AND FAMILIES TO BENEFICIAL, AFFORDABLE HOUSING RESOURCES AND BY LEADING COMMUNITY-BASED SOLUTIONS TO LOCAL CHALLENGES
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOME OWNERSHIP PRESERVATION: HOMESTART ASSISTS PEOPLE WHO ARE FACING FORECLOSURE. WE WORK WITH PEOPLE TO FIND A POSITIVE RESOLUTION TO THEIR FORECLOSURE. IN 2021 HOMESTART CONTINUED TO BE AVAILABLE TO HOLD ONE-ON-ONE SESSIONS, ALTHOUGH FORECLOSURE MORATORIUM AND THE FORBEARANCES OFFERED BY LENDERS MEAN THAT THIS SERVICE WAS NOT ACCESSED AT THE SAME RATE THIS YEAR. IN 2021, HOMESTART ASSISTED 6 FAMILIES AVOID FORECLOSURE. IN ADDITION, HOMESTART ASSISTED 6 FAMILIES WITH HOME REHABILITATION GRANTS IN ROCKFORD AND BELVIDERE.
HOME OWNERSHIP PROMOTION: HOMESTART PLACES AN EMPHASIS ON MAKING SURE OUR CUSTOMERS HAVE THE KNOWLEDGE THEY NEED TO BECOME SUCCESSFUL HOMEOWNERS. WITH OUR ONE-ON-ONE COUNSELING, WE CAN CUSTOMIZE AN INDIVIDUAL ACTION PLAN FOR EACH CUSTOMER, FOCUSING ON THE CRITICAL STEPS THEY NEED TO TAKE TO BE ABLE TO PURCHASE A HOME. WE ALSO PROVIDE A VARIETY OF EDUCATION OPTIONS, ALL DESIGNED TO ENSURE THAT PROSPECTIVE HOMEBUYERS HAVE DETAILED, COMPREHENSIVE INFORMATION ABOUT THE ENTIRE HOME-BUYING PROCESS. IN 2021, HOMESTART PROVIDED ITS HOMEBUYER EDUCATION SERVICES TO OVER 270 PEOPLE, AND ASSISTED 305 FAMILIES ACHIEVING FIRST-TIME HOME OWNERSHIP.
LOAN PROGRAM: INCLUDES THE COSTS ASSOCIATED WITH SERVICING A SMALL LOAN PORTFOLIO. THESE COSTS INCLUDE SUCH ITEMS AS LEGAL FEES, MAINTENANCE OF PROPERTIES OBTAINED THROUGH FORECLOSURE OR DEED IN LIEU, INSURANCE, TAXES, AND COSTS TO PREPARE PROPERTIES FOR SALE. CURRENTLY HOMESTART IS ONLY SERVICING A SMALL NUMBER OF LOANS. WE ARE NOT ORIGINATING ANY NEW LOANS AT THIS TIME.
COMMUNITY BUILDING AND ENGAGEMENT: INCLUDES COSTS TO SUPPORT LOCAL RESIDENT LEADER'S ENGAGEMENT AND LEADERSHIP IN THEIR COMMUNITIES. IT ALSO INCLUDES COSTS TO SECURE FUNDING IN ORDER TO MAINTAIN ORGANIZATIONAL FOCUS IN THIS PROGRAM SERVICE AREA. BLIGHT REDUCTION PROGRAM: INCLUDES COSTS TO MAINTAIN VACANT LOTS AS A RESULT OF DEMOLITION OF BLIGHTED PROPERTIES ACQUIRED THROUGH THE ILLINOIS HOUSING DEVELOPMENT AUTHORITY BLIGHT REDUCTION PROGRAM. THE COSTS INCLUDE LOT MAINTENANCE EXPENSES, INSURANCE, TAXES, AND REPURPOSE OR REDEVELOPMENT COSTS OF THE PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Brinkmann Executive Di | Officer | 40 | $67,370 |
Cesar Sanchez Treasurer | OfficerTrustee | 2 | $0 |
Brandon Kruse VP | OfficerTrustee | 2 | $0 |
Anne Sadler Asst. Secret | OfficerTrustee | 2 | $0 |
Kelvin Mcilwain President/tr | OfficerTrustee | 4 | $0 |
Ashley Williams Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $729,608 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,913 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $742,521 |
| Total Program Service Revenue | $88,789 |
| Investment income | $572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$7,721 |
| 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 | $824,568 |
| 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. | $67,520 |
| Compensation of current officers, directors, key employees. | $20,212 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $349,905 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,888 |
| Payroll taxes | $28,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,078 |
| Advertising and promotion | $32,719 |
| Office expenses | $15,092 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,023 |
| Travel | $8,173 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,041 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,084 |
| Insurance | $9,272 |
| All other expenses | $6,395 |
| Total functional expenses | $1,007,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $715,350 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,257 |
| Loans from Officers, Directors, or Controlling Persons | $10,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $123,525 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $393,515 |
| Investments—publicly traded securities | $95,403 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,302 |
| Total assets | $1,557,352 |
| Accounts payable and accrued expenses | $208,201 |
| Grants payable | $0 |
| Deferred revenue | $151,045 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,343 |
| 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 | $3,235 |
| Total liabilities | $365,824 |
| Net assets without donor restrictions | $1,096,125 |
| Net assets with donor restrictions | $95,403 |
| 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 | $1,557,352 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nw Homestart Inc has recieved totaling $28,106.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Northern Illinois Rockford, IL PURPOSE: FOR PURPOSES AS SPECIFIED IN A GRANT APPLICATION, FUND AGREEMENT OR GIFT INSTRUMENT | $28,106 |
Endowment Analysis
| Beg. Balance | $85,902 |
| Earnings | $13,344 |
| Admin Expense | $737 |
| Other Expense | $3,106 |
| Ending Balance | $95,403 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Hispanic Housing Development Corp Chicago, IL | $88,735,655 | $15,154,061 |
Habitat For Humanity International Inc Des Moines, IA | $24,118,438 | $12,529,342 |
Residential Options Inc Alton, IL | $11,785,898 | $11,284,358 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Oak Park Residence Corp Oak Park, IL | $43,726,959 | $10,429,189 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |