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Homefree USA
Homefree USA reported $11.3 million in revenue and $11.0 million in expenses for calendar year 2024. Of every $100 it spent, $63.50 went to program services, $31.39 to management and general costs and $5.11 to fundraising. Its largest source of revenue was contributions and grants: 99.3% of the total. Government grants made up 79.7%. The highest compensation it reported for one person was $374,328 (President & CEO). 8 people received more than $100,000 in reportable compensation. Revenue fell 10% between 2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $11MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $11M- Contributions & grants (non-government)$19.55 $2.2M
- Government grants$79.18 $9.0M
- Other revenue$1.27 $144K
Investment income was negative: −$67,795. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 63.5% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 31.4% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 5.1% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 99.3% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 79.7% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $374,328 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.40% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 8 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 3.5 | 56.6 |
| Independent voting board members Part VI 1a–1b | 8 of 15 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseHomeownership program: to develop within all people the knowledge skills and practices they need to be economically strong and successful homeowners. The program includes HUD housing assistance administered through the HFUSA network of Affiliate Organizations
CFA program to provide counseling and career endeavoring services to college students attending HBCU's. The goal of the program is to train and prepare college students to major in all disciplines related to mortgage lending, real estate and property ownership and management. There are approximately 10 colleges participating in this program
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President & CEO Officer, key employee, highest compensated employee, 40 hrs/week | $374,328 | $0 | $0 | $374,328 |
| Executive Vice President Key employee, 40 hrs/week | $281,410 | $0 | $0 | $281,410 |
| Vice President Key employee, 40 hrs/week | $128,660 | $0 | $0 | $128,660 |
| SVP Chief Information Officer Key employee, 40 hrs/week | $126,151 | $0 | $0 | $126,151 |
| Exec. VP & Manager CFA Key employee, 40 hrs/week | $121,342 | $0 | $0 | $121,342 |
| Director Homeownership Key employee, 40 hrs/week | $107,741 | $0 | $0 | $107,741 |
| EVP Manag. Director Affiliate Network Key employee, 40 hrs/week | $106,600 | $0 | $0 | $106,600 |
| IT Manager Director/trustee, 40 hrs/week | $101,178 | $0 | $0 | $101,178 |
8 people received more than $100,000 in reportable compensation from Homefree USA (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.4M (Part IX, line 5).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 8 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 552
- Volunteers Part I, line 612
Private foundation grants it received
3 private foundations reported grants to Homefree USA totaling $340K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Homefree USA's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Homefree USA, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Homefree USA spent in 2024, $63.50 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Homefree USA's spending goes to programs?
In calendar year 2024, Homefree USA reported that 63.5% of its $11.0 million in expenses went to program services, 31.4% to management and general and 5.1% to fundraising (Form 990, Part IX).
How much does Homefree USA pay its top executive?
The largest total compensation Homefree USA reported for one person in calendar year 2024 was $374,328, for the role of President & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Homefree USA get its money?
Of $11.3 million in revenue in calendar year 2024, 99.3% came from contributions and grants (including 79.7% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).
Is Homefree USA a registered charity?
The IRS lists EIN 52-1885132 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202533249349301208 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403169349300010 · read the filing
- 2022: Form 990 for calendar year 2022, object 202332649349300303 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233219349300003 · read the filing
- 2020: Form 990 for calendar year 2020, object 202210089349300306 · read the filing
All filings for EIN 52-1885132: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.