Homestretch Inc
- Assets
- $9.3m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 27
- Location
- Falls Church, VA
- Founding
- 07/1998
- Data as of
- 06/2023
- EIN
- 54-1894391
Organization Overview
Homestretch Inc is located in Falls Church, VA. The organization was established in 1998. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2023, Homestretch Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestretch 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 06/2023, Homestretch Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $3.5m during the year ending 06/2023. While expenses have increased by 3.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOMESTRETCH, INC. IS A COMMUNITY-BASED NONPROFIT THAT SUPPORTS HOMELESS PARENTS WITH CHILDREN IN NORTHERN VIRGINIA AS THEY REGAIN THEIR INDEPENDENCE, MOVE TOWARD SELF-SUFFICIENCY, AND BREAK CYCLES OF POVERTY FOR GOOD. OUR RIGOROUS TWO- TO THREE-YEAR PROGRAM ACCOMPLISHES THIS MISSION BY PROVIDING TRAUMA-INFORMED SAFE HOUSING AND CULTURALLY SENSITIVE COMPREHENSIVE CASE MANAGEMENT SUPPORTS THAT INCLUDE: WORKFORCE READINESS TRAINING, A FINANCIAL LITERACY PROGRAM FEATURING DEBT REDUCTION EDUCATION AND CREDIT REPAIR, TENANT EDUCATION AND HOUSING ADVOCACY, AND A WIDE ARRAY OF SERVICES FOR CHILDREN INCLUDING AN ON-SITE NURSERY CENTER AND LICENSED PRESCHOOL. SINCE 1990, OUR MISSION'S GOAL HAS BEEN TO EMPOWER HOMELESS FAMILIES TO SECURE PERMANENT HOUSING AND ATTAIN THE SKILLS, KNOWLEDGE AND HOPE THEY NEED TO ACHIEVE PERMANENT SELF-SUFFICIENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMESTRETCH PROVIDED TRANSITIONAL HOUSING ASSISTANCE TO NEEDY FAMILIES WITH CHILDREN IN THE FORM OF RENT, UTILITIES, EXPENSES AND LIFE SKILLS TRAINING. HOMESTRETCH ALSO PROVIDED KITCHEN FURNISHINGS, HOUSEHOLD FURNITURE AND SUPPLIES, ON A PASS-THROUGH BASIS, AS ITEMS ARE DONATED BY THE COMMUNITY AT LARGE. HOMESTRETCH, INC. CONTINUES TO SERVE AN AVERAGE OF 46 FAMILIES AT ANY POINT IN TIME, USING A COMBINATION OF HOUSING MODELS INCLUDING TRANSITIONAL HOUSING, PERMANENT SUPPORTIVE HOUSING, TRANSITIONING-IN-PLACE, AND AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES.
KIDSTRETCH IS A VIRGINIA PRESCHOOL INITIATIVE (VPI) CLASSROOM AND SERVES AS THE EARLY CHILDHOOD EDUCATION COMPONENT OF HOMESTRETCH. OUR GOAL AT KIDSTRETCH IS TO ENSURE HIGH QUALITY PRESCHOOL PROGRAMMING THAT SUPPORTS SCHOOL READINESS FOR THREE- TO FIVE-YEAR OLDS. AS A VPI CLASSROOM, KIDSTRETCH ALSO PROVIDES CHILD SCREENINGS FOR HEARING, VISION, DEVELOPMENTAL, DENTAL, AND MENTAL HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerry Morgan President | OfficerTrustee | 1 | $0 |
Mahreen Rashid Vice President | OfficerTrustee | 1 | $0 |
Amy Thorn Treasurer | OfficerTrustee | 1 | $0 |
Mike Leavitt Secretary | OfficerTrustee | 1 | $0 |
Mark Bronfman Director | Trustee | 1 | $0 |
Bill Landon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $23,047 |
| Membership dues | $0 |
| Fundraising events | $443,743 |
| Related organizations | $0 |
| Government grants | $125,177 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,266,687 |
| Noncash contributions included in lines 1a–1f | $966,415 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,858,654 |
| Total Program Service Revenue | $591,928 |
| Investment income | $25,355 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,226 |
| Net Gain/Loss on Asset Sales | $10,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,528,165 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $585,181 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $170,849 |
| Compensation of current officers, directors, key employees. | $70,048 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,348,026 |
| Pension plan accruals and contributions | $52,334 |
| Other employee benefits | $150,097 |
| Payroll taxes | $112,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,248 |
| Fees for services: Other | $72,646 |
| Advertising and promotion | $0 |
| Office expenses | $96,988 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,348 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,816 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $220,992 |
| Insurance | $60,300 |
| All other expenses | $120,314 |
| Total functional expenses | $3,523,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,285,487 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $130,484 |
| 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 | $22,922 |
| Net Land, buildings, and equipment | $6,113,122 |
| Investments—publicly traded securities | $754,358 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,175 |
| Total assets | $9,315,548 |
| Accounts payable and accrued expenses | $69,294 |
| Grants payable | $0 |
| Deferred revenue | $3,254 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $157,468 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,475,398 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $571,556 |
| Total liabilities | $6,276,970 |
| Net assets without donor restrictions | $2,627,292 |
| Net assets with donor restrictions | $411,286 |
| 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 | $9,315,548 |