Homes First

Organization Overview

Homes First is located in Lacey, WA. The organization was established in 1990. According to its NTEE Classification (O40) the organization is classified as: Scouting, under the broad grouping of Youth Development and related organizations. As of 12/2021, Homes First employed 8 individuals. This organization is the central organization for a national or regional group of organizations. Homes First 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, Homes First 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 7.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 9.1% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE AND MAINTAIN SAFE, HEALTHY, AND AFFORDABLE RENTAL HOMES FOR THOSE WHO NEED THEM MOST.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOMES FIRST PROVIDES AFFORDABLE RENTAL HOUSING FOR HOUSEHOLDS WITH INCOMES AT OR BELOW 60% AREA MEDIAN INCOME. ADULTS WITH DEVELOPMENTAL DISABILITIES, PEOPLE IN RECOVERY, VETERANS, INDIVIDUALS, YOUTH AND PEOPLE IN MENTAL HEALTH PROGRAMS, AND FAMILIES ARE ALL SERVED IN THEIR PROGRAMS. DURING 2021 WE RECEIVED SBA LOANS AND ADDITIONAL GRANTS WHICH ALLOWED US TO CONTINUE OUR WORK AND TENANT SUPPORT WITHOUT AFFECTING OUR LEVEL OF SERVICE. THIS SUPPORT ALSO MADE IT POSSIBLE TO KEEP ALL STAFF EMPLOYEES AT PRE-COVID LEVELS. WE WERE ABLE TO DEVELOP PARTNERSHIPS DURING COVID WHICH ALLOWED US TO PROVIDE EXTRA SUPPORT TO OUR TENANTS (FOOD AND MASK DONATIONS). OUR HOUSING PORTFOLIO REMAINED STABLE DESPITE RESTRICTIONS ON OUR ABILITY TO HAVE OUR MAINTENANCE STAFF COMPLETE ANNUAL INSPECTIONS. IN CONJUNCTION WITH THE COVID PANDEMIC, WE RECEIVED LOAN FORBEARANCE ON SEVERAL PROPERTIES FROM THE DEPARTMENT OF COMMERCE.


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Board, Officers & Key Employees

Name (title)Compensation
Trudy Soucoup
CEO
$100,000
Mary Roberts
President/chair
$0
Chris Lester
Vice President
$0
Ken Pekola
Treasurer
$0
Thomasina Cooper
Secretary
$0
Wayne Souza
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$102,014
Related organizations$0
Government grants $139,061
All other contributions, gifts, grants, and similar amounts not included above$105,007
Noncash contributions included in lines 1a–1f $7,728
Total Revenue from Contributions, Gifts, Grants & Similar$346,082
Total Program Service Revenue$952,344
Investment income $1,242
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$14,207
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,390,507

Grants Recieved

Over the last fiscal year, we have identified 9 grants that Homes First has recieved totaling $91,043.

Awarding OrganizationAmount
Employees Community Fund Of The Boeing Company

Chicago, IL

PURPOSE: COMMUNITY SUPPORT

$40,000
Puget Sound Energy Foundation

Wilmington, DE

PURPOSE: GENERAL SUPPORT - PSE FOUNDATION SHELTER AND UNHOUSED PROGRAM

$25,000
Community Foundation Of South Puget Sound

Olympia, WA

PURPOSE: OPERATING

$12,989
Puget Sound Energy Foundation

Wilmington, DE

PURPOSE: TENANT NAVIGATOR SUPPORT

$10,000
Ludlow Foundation

Leavenworth, WA

PURPOSE: TO HELP PROVIDE HEALTHY, SAFE AND AFFORDABLE RENTAL HOUSING TO LOW-INCOME INDIVIDUALS

$2,350
Finninsula Foundation Inc

Greenwich, CT

PURPOSE: GENERAL CONTRIBUTION

$500
View Grant Recipient Profile

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