Nw Homestart Inc
- Assets
- $830.0k
- Revenue
- $279.7k
- Investments
- $0.0
- Employees
- 16
- Location
- Freeport, IL
- Founding
- 10/1997
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Nw Homestart Inc generated $279.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $341.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.3%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE VIBRANT, HEALTHY COMMUNITES 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 OWNER PRESERVATION: HOMESTART ASSISTS PEOPLE WHO ARE FACING FORECLOSURE, WE WORK WITH PEOPLE TO FIND A POSITIVE RESOLUTION TO THEIR FORECLOSURE. HOMESTART ACTIVELY HELPED FAMILIES AVOID FORCLOSURES WITH REHABILITATION GRANTS IN ROCKFORD, FREEPORT AND BELVIDERE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sofia Buchnan Director | Trustee | $0 | |
Thomas Cross Director | Trustee | $0 | |
Bjorn Hulleberg Director | Trustee | $0 | |
Danica Keeton Director | Trustee | $0 | |
Brandon Kruse Vice-Preside | OfficerTrustee | $0 | |
Kelvin Mcilwain President | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $261,838 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $261,838 |
| Total Program Service Revenue | -$4,357 |
| Investment income | $6,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $279,686 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $152,357 |
| Pension plan accruals and contributions | $1,978 |
| Other employee benefits | $9,524 |
| Payroll taxes | $12,067 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,244 |
| Advertising and promotion | $0 |
| Office expenses | $2,587 |
| Information technology | $23,222 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,317 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,182 |
| Insurance | $8,335 |
| All other expenses | $9,021 |
| Total functional expenses | $341,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $502,160 |
| 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 | $327,874 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $830,034 |
| Accounts payable and accrued expenses | $2,590 |
| 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 | $61,613 |
| Total liabilities | $64,203 |
| Net assets without donor restrictions | $530,153 |
| Net assets with donor restrictions | $235,678 |
| 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 | $830,034 |