Boys Home Incorporated
- Assets
- $42.7m
- Revenue
- $4.5m
- Investments
- $9.8m
- Employees
- 73
- Location
- Covington, VA
- Founding
- 01/1940
- Data as of
- 06/2022
- EIN
- 54-0505870
Organization Overview
Boys Home Incorporated is located in Covington, VA. The organization was established in 1940. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. As of 06/2022, Boys Home Incorporated employed 73 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Boys Home Incorporated 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, Boys Home Incorporated generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $4.5m during the year ending 06/2022. While expenses have increased by 1.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SPIRITUAL AND EDUCATIONAL ENVIRONMENT TO BOYS IN NEED OF SHELTER AND GUIDANCE.
Describe the Organization's Program Activity:
PROVIDE SPIRITUAL AND EDUCATIONAL ENVIRONMENT TO APPROXIMATELY 50 BOYS IN NEED OF SHELTER AND GUIDANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donnie E Wheatley Exec Dir/sec | Officer | 40 | $58,488 |
Christopher Doyle Exec Dir / Sec | Officer | 40 | $5,000 |
Kenneth O Robison II Treasurer | OfficerTrustee | 1 | $0 |
John Williams President | OfficerTrustee | 1 | $0 |
Perry Williams Vice President | OfficerTrustee | 1 | $0 |
Sam Bowen Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,885,318 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,885,318 |
| Total Program Service Revenue | $499,675 |
| Investment income | $1,843,203 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,000 |
| Net Gain/Loss on Asset Sales | $147,552 |
| Net Income from Fundraising Events | $77,494 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,527,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $450,100 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $134,206 |
| Compensation of current officers, directors, key employees. | $33,552 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,669,005 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $393,157 |
| Payroll taxes | $129,930 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $289,920 |
| Insurance | $0 |
| All other expenses | $576,026 |
| Total functional expenses | $4,511,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $477,472 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $165,256 |
| Accounts receivable, net | $61,677 |
| 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 | $4,081,096 |
| Investments—publicly traded securities | $19,878,368 |
| Investments—other securities | $9,781,406 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,269,528 |
| Total assets | $42,714,803 |
| Accounts payable and accrued expenses | $132,088 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,669 |
| 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 | $152,757 |
| Net assets without donor restrictions | $29,990,703 |
| Net assets with donor restrictions | $12,571,343 |
| 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 | $42,714,803 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Boys Home Incorporated has recieved totaling $204,739.
| Awarding Organization | Amount |
|---|---|
David S Walker Jr Foundation Tr Ua Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $107,401 |
Hampton Roads Community Foundation Norfolk, VA PURPOSE: 2021 DESIGNATED DISTRIBUTION | $37,974 |
Hampton Roads Community Foundation Norfolk, VA PURPOSE: FOR BOYS FROM SOUTH HAMPTON ROADS | $22,210 |
Community Foundation For Rockbridge Bath And Alleghany Lexington, VA | | $14,725 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $11,173 |
Hampton Roads Community Foundation Norfolk, VA PURPOSE: FOR UNRESTRICTED USE IN MEMORY OF VIRGINIA COOKE GLENNAN | $7,023 |
Endowment Analysis
| Beg. Balance | $33,668,848 |
| Earnings | -$2,421,451 |
| Admin Expense | $227,640 |
| Net Contributions | $360,446 |
| Other Expense | $1,949,296 |
| Ending Balance | $29,430,907 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Josephs Villa Richmond, VA | $27,428,777 | $22,658,558 |
Second Family Inc Landover, MD | $8,336,293 | $18,458,422 |
Creative Options Inc Rosedale, MD | $5,912,268 | $18,062,060 |
Developmental Services Of Dickson County Dickson, TN | $11,323,972 | $14,070,114 |
Our Lady Of Hope Health Center Inc Roanoke, VA | $20,100,998 | $16,173,779 |
Boys And Girls Home Of North Carolina Inc Lake Waccamaw, NC | $27,444,905 | $18,368,279 |
Progress Unlimited Inc Owings Mills, MD | $6,943,028 | $14,017,942 |
Elk Hill Farm Inc Goochland, VA | $8,024,424 | $11,816,534 |
Presbyterian Homes & Family Services Inc Lynchburg, VA | $44,827,588 | $11,019,660 |
Insight Incentive For Normal Social Interaction-Group Home Today Inc Woodbridge, VA | $13,170,657 | $11,222,553 |
Ralph Scott Lifeservices Inc Burlington, NC | $9,602,091 | $12,832,538 |
Bayside Community Network Inc Elkton, MD | $9,618,980 | $11,506,154 |