Homewise Inc
- Assets
- $208.2m
- Revenue
- $27.7m
- Investments
- $0.0
- Employees
- 160
- Location
- Santa Fe, NM
- Founding
- 05/1987
- Data as of
- 03/2022
- EIN
- 85-0346325
Organization Overview
Homewise Inc is located in Santa Fe, NM. The organization was established in 1987. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. As of 03/2022, Homewise Inc employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homewise 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 03/2022, Homewise Inc generated $27.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $20.8m during the year ending 03/2022. While expenses have increased by 12.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE HOMEWISE MISSION IS TO HELP CREATE SUCCESSFUL HOMEOWNERS AND STRENGTHEN NEIGHBORHOODS SO THAT INDIVIDUALS AND FAMILIES CAN IMPROVE THEIR LONG-TERM FINANCIAL WELL-BEING AND QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMEWISE PROVIDES FINANCIAL COUNSELING, PROPERTY DEVELOPMENT, GOVERNMENT PROGRAM ADMINISTRATION, LOW-INTEREST FIXED RATE MORTGAGES, HOME IMPROVEMENT LOANS, REFINANCE LOANS, MORTGAGE LOAN SERVICING, AND REAL ESTATE SALES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Loftin CEO | Officer | 40 | $290,551 |
Laura Altomare President | Officer | 40 | $209,254 |
Jill Cook Chief Operating Officer | Officer | 40 | $205,988 |
Daniel Slavin Senior Dir., Real Estate Dev. | Officer | 40 | $177,111 |
Clay Simmons Chief Financial Officer | Officer | 40 | $168,242 |
Elena Gonzales Senior Dir Policy & Resource Development | Officer | 40 | $156,809 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lowe-bo Homes Llc Construction | 3/30/22 | $4,587,849 |
Little Bubba's Construction Llc Construction | 3/30/22 | $4,248,162 |
Platinum Sky Construction Inc Construction | 3/30/22 | $3,749,620 |
Insight Construction Llc Construction | 3/30/22 | $3,650,841 |
Salls Brothers Construction Inc Construction | 3/30/22 | $2,417,874 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,928,763 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,363,475 |
| Noncash contributions included in lines 1a–1f | $100,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,292,238 |
| Total Program Service Revenue | $20,350,878 |
| Investment income | $7,992 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $79,821 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,730,929 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $215,206 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,593,477 |
| Compensation of current officers, directors, key employees. | $476,959 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,811,212 |
| Pension plan accruals and contributions | $437,574 |
| Other employee benefits | $931,920 |
| Payroll taxes | $696,142 |
| Fees for services: Management | $374,428 |
| Fees for services: Legal | $142,661 |
| Fees for services: Accounting | $82,983 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $45,199 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $407,515 |
| Office expenses | $251,775 |
| Information technology | $240,417 |
| Royalties | $0 |
| Occupancy | $401,005 |
| Travel | $35,212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,986,090 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,396,626 |
| Insurance | $392,414 |
| All other expenses | $130,430 |
| Total functional expenses | $20,763,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,114,063 |
| Savings and temporary cash investments | $23,860,974 |
| Pledges and grants receivable | $799,780 |
| Accounts receivable, net | $3,750,284 |
| Loans from Officers, Directors, or Controlling Persons | $18,531 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $107,117,726 |
| Inventories for sale or use | $13,672 |
| Prepaid expenses and deferred charges | $452,167 |
| Net Land, buildings, and equipment | $10,535,870 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,516,883 |
| Total assets | $208,179,950 |
| Accounts payable and accrued expenses | $3,609,492 |
| Grants payable | $0 |
| Deferred revenue | $3,790,495 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,119,792 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $88,388,872 |
| Unsecured mortgages and notes payable | $22,920,000 |
| Other liabilities | $7,639,105 |
| Total liabilities | $130,467,756 |
| Net assets without donor restrictions | $75,452,677 |
| Net assets with donor restrictions | $2,259,517 |
| 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 | $208,179,950 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Homewise Inc has recieved totaling $2,141,000.
| Awarding Organization | Amount |
|---|---|
Daniels Fund Denver, CO PURPOSE: NEW MEXICO CHARTER SCHOOL FACILITY FUND | $1,800,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: FINANCE JUSTICE FUND SUBGRANT | $150,000 |
Santa Fe Community Foundation Santa Fe, NM PURPOSE: GENERAL OPERATING SUPPORT | $53,500 |
Albuquerque Community Foundation Albuquerque, NM PURPOSE: DONOR-ADVISED | $50,000 |
National Association For Latino Community Asset Builders San Antonio, TX PURPOSE: Financial Capability | $25,000 |
Frost Foundation Santa Fe, NM PURPOSE: HOMEBUYER EDUCATION AND CLASSES | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homewise Inc Santa Fe, NM | $208,179,950 | $27,730,929 |
Austin Neighborhood Alliance For Habitat Inc Austin, TX | $0 | $0 |
1035 Osage Inc Denver, CO | $33,218,160 | $535,754 |
Juliette Fowler Properties Inc Dallas, TX | $10,066,586 | $665,520 |
Flatirons Habitat For Humanity Community Development Inc Lafayette, CO | $0 | $952,370 |
La Clinica De Familia Title Holding Corporation Las Cruces, NM | $16,407,020 | $282,120 |
Cplc Health Inc Phoenix, AZ | $163,628 | $944,105 |
Fc Mission Plaza Inc Austin, TX | $18,856,034 | $382,500 |
Christian Care Foundation Phoenix, AZ | $804,250 | $80,242 |
Buckner Fhc-Bachman Lake Dallas, TX | $10,834,245 | $10,458 |
Stepping Stone Communities Inc Littleton, CO | $1,504,379 | $1,718,671 |
Domain Parkside Iii Llc Dallas, TX | $92,179,663 | $1,974,332 |