Homesfund
- Assets
- $12.7m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 5
- Location
- Durango, CO
- Founding
- 04/2009
- Data as of
- 12/2021
- EIN
- 80-0266636
Organization Overview
Homesfund is located in Durango, CO. The organization was established in 2009. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Homesfund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homesfund 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, Homesfund generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $632.9k during the year ending 12/2021. 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 HOMESFUND SEEKS TO LESSEN THE BURDENS OF GOVERNMENT IN LA PLATA COUNTY, COLORADO BY SUPPORTING THE CREATION AND PROVISION OF AFFORDABLE HOUSING TO LOWER INCOME HOUSEHOLDS IN LA PLATA AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOME BUYER ASSISTANCE PROGRAM PROVIDED PRE-PURCHASE COUNSELING AND EDUCATION TO HOUSEHOLDS. THE PROGRAM ALSO GAVE MULTIPLE NEW HOMEOWNERS THE ABILITY TO PURCHASE A HOME BY LENDING THOUSANDS OF DOLLARS FOR SHARED APPRECIATION SILENT SECOND MORTGAGES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Bloomquist Executive Di | Officer | 40 | $88,260 |
Pamela C Moore Deputy Direc | Officer | 40 | $83,132 |
Laura Lewis Marchino Vice-Chair | OfficerTrustee | 1 | $0 |
Jim Wotkyns Chair | OfficerTrustee | 1 | $0 |
Sidny Zink Secretary/tr | OfficerTrustee | 1 | $0 |
Barry Spear Member | 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 | $912,207 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $912,207 |
| Total Program Service Revenue | $307,229 |
| Investment income | $164,664 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,327 |
| 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 | $1,385,427 |
| 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. | $194,330 |
| Compensation of current officers, directors, key employees. | $39,812 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,367 |
| Pension plan accruals and contributions | $9,518 |
| Other employee benefits | $29,029 |
| Payroll taxes | $24,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,169 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,788 |
| Advertising and promotion | $2,292 |
| Office expenses | $6,999 |
| Information technology | $7,200 |
| Royalties | $0 |
| Occupancy | $27,972 |
| Travel | $822 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $318 |
| Interest | $4,937 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,591 |
| Insurance | $16,766 |
| All other expenses | $5,736 |
| Total functional expenses | $632,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,768,921 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $119,611 |
| Accounts receivable, net | $2,352 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,633,042 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,622 |
| Net Land, buildings, and equipment | $148,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,692,092 |
| Accounts payable and accrued expenses | $32,884 |
| Grants payable | $0 |
| Deferred revenue | $500,000 |
| 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 | $808,792 |
| Total liabilities | $1,341,676 |
| Net assets without donor restrictions | $5,337,275 |
| Net assets with donor restrictions | $6,013,141 |
| 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 | $12,692,092 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Homesfund has recieved totaling $76,541.
| Awarding Organization | Amount |
|---|---|
Rural Community Assistance West Sacramento, CA PURPOSE: Housing Counseling | $48,500 |
The Colorado Health Foundation Denver, CO PURPOSE: STRENGTHEN COMMUNITY HEALTH | $18,041 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trellis Phoenix, AZ | $14,366,435 | $6,000,326 |
Choctaw Home Finance Corporation Hugo, OK | $41,603,896 | $2,950,150 |
Center Of Hope Inc Wichita, KS | $4,222,835 | $2,083,775 |
United South Broadway Corporation Albuquerque, NM | $880,290 | $964,154 |
Chwc Inc Kansas City, KS | $3,102,238 | $1,323,048 |
Homesfund Durango, CO | $12,692,092 | $1,385,427 |
Cof Independent Living Inc Ottawa, KS | $1,106,037 | $467,599 |
Osage Financial Resources Inc An Oklahoma Non Profit Corporation Pawhuska, OK | $4,289,875 | $172,546 |
Sense Of Security Inc Denver, CO | $269,275 | $148,497 |
Leaderone Lending A Hand Foundation Overland Park, KS | $157,899 | $0 |
Lowry Community Land Trust Denver, CO | $0 | $315 |
Oklahoma Housing Foundation Oklahoma City, OK | $251,504 | $0 |