Totals
- Total revenue
- $8,609,814
- Total expenses
- $7,645,607
- Contributions and grants received
- $1,373,155
- Grants paid
- $0
- Program service revenue
- $7,211,245
- Investment income
- $25,414
- Other revenue
- $0
- Total assets, end of year
- $58,911,808
- Total liabilities, end of year
- $24,857,550
- Net assets or fund balances, end of year
- $34,054,258
- Program services expenses (Part IX)
- $7,446,510
- Management and general expenses
- $80,759
- Fundraising expenses
- $118,338
- Program service expenses (Part III)
- $7,446,510
Program services were 97.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$1,373,155
-
2a · Program service revenue: Rents
total $5,149,732 · related or exempt $5,149,732
-
2b · Program service revenue: Developer Fees
total $688,825 · related or exempt $688,825
-
2c · Program service revenue: Other Services
total $607,629 · related or exempt $607,629
-
2d · Program service revenue: Fees for Services
total $404,738 · related or exempt $404,738
-
2e · Program service revenue: Loan Interest
total $363,220 · related or exempt $363,220
-
2f · All other program service revenue
total -$2,899 · related or exempt -$2,899
-
3 · Investment income
total $25,414 · excluded $25,414
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $456,628 · program services $456,274 · management and general $354
-
7 · Other salaries and wages
total $347,195 · program services $236,782 · management and general $3,636 · fundraising $106,777
-
8 · Pension plan contributions
total $11,614 · program services $9,686 · management and general $1,928
-
9 · Other employee benefits
total $151,312 · program services $128,620 · management and general $22,692
-
10 · Payroll taxes
total $35,960 · program services $27,422 · management and general $8,538
-
12 · Advertising and promotion
total $24,645 · program services $13,084 · fundraising $11,561
-
13 · Office expenses
total $20,619 · program services $16,194 · management and general $4,425
-
14 · Information technology
total $15,620 · program services $10,227 · management and general $5,393
-
16 · Occupancy
total $882,758 · program services $873,360 · management and general $9,398
-
17 · Travel
total $29,107 · program services $26,928 · management and general $2,179
-
20 · Interest
total $854,086 · program services $854,086
-
22 · Depreciation, depletion and amortization
total $1,532,451 · program services $1,530,744 · management and general $1,707
-
23 · Insurance
total $497,027 · program services $496,357 · management and general $670
-
24a · Other expenses: Admin support
total $1,083,291 · program services $1,080,898 · management and general $2,393
-
24b · Other expenses: Operating & maintenance
total $1,067,011 · program services $1,067,011
-
24c · Other expenses: Management fees
total $341,804 · program services $341,804 · management and general $0
-
24d · Other expenses: F&F Replacements
total $219,446 · program services $219,446 · management and general $0
-
24e · All other expenses
total $75,033 · program services $57,587 · management and general $17,446
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,878,485 · end of year $2,126,018
-
2 · Savings and temporary cash investments
beginning of year $1,835,305 · end of year $1,928,982
-
4 · Accounts receivable
beginning of year $1,205,435 · end of year $1,788,505
-
7 · Other notes and loans receivable
beginning of year $15,111,441 · end of year $16,554,440
-
8 · Inventories for sale or use
beginning of year $6,370 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $96,183 · end of year $110,309
-
10a · Land, buildings and equipment: cost or other basis
$51,741,638
-
10b · Land, buildings and equipment: accumulated depreciation
$16,142,638
-
10c · Land, buildings and equipment, net
beginning of year $36,572,906 · end of year $35,599,000
-
13 · Investments: program-related
beginning of year $948,776 · end of year $800,091
-
15 · Other assets
beginning of year $2,500 · end of year $4,463
-
17 · Accounts payable and accrued expenses
beginning of year $348,194 · end of year $375,122
-
19 · Deferred revenue
beginning of year $101,381 · end of year $82,102
-
23 · Secured mortgages and notes payable
beginning of year $25,112,525 · end of year $24,400,326
-
27 · Net assets without donor restrictions
beginning of year $33,095,301 · end of year $34,054,258
Mission and programs · 2022
Mission
Homeword uses sustainable methods to provide safe, healthy homes that people can afford and strengthens the community through housing counseling and education.
-
PROPERTY MANAGEMENT:Daily activities are contracted with qualified third-party property management companies. Homeword oversees the asset management of the developed properties including regulatory compliance and financial management once housing development completes construction and development of the properties.
Expenses $6,404,184 · Revenue $5,816,894
-
HOUSING DEVELOPMENT:Housing development provides homes people can afford to families with lower income through development of single-family and multi-family projects and preservation of existing homes. Development is also responsible for the formation of tax credit partnerships and other legal entities created for the purpose of ownership and development. Costs include staff wages, unrecouped expenses associated with new or rehabilitation predevelopment and construction management costs. Nearly all of development income is generated via federal and state grants and is passed through directly to the projects in forms of loans and equity. Homeword retains a portion of any developer fee not deferred for operations.
Expenses $445,688 · Revenue $721,836
-
HOME OWNERSHIP CENTER:Homeword's Home Ownership Center provides a variety of counseling and education services to people living with low to moderate incomes at no cost, including homebuyer, financial and renter education and counseling. Since 1997, Homeword has empowered over 19,500 people. Costs associated with the Home Ownership Center include staff wages, office space rent, training supplies, child care, and other costs incurred in providing the training and counseling services.
Expenses $276,596 · Revenue $318,994
-
ASSET MANAGEMENT:Asset Management is responsible for managing Homeword's properties.
Expenses $320,042 · Revenue $353,521
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Beth Hayes
President
- Total calculated
- $0
- Hours/week
- 1
-
Meg Haenn
Vice President
- Total calculated
- $0
- Hours/week
- 1
-
Jessica Vizzutti
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Jason Erickson
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Alice Jones
Past President
- Total calculated
- $0
- Hours/week
- 1
-
Adrienne Maxwell
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Allison Walsh
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Ben Bach
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Bruce Haroldson
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Gretchen Hooker
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Sara Nelson
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Ryan Sears
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Maureen Rude
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Kaia Peterson
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Jessica Allred
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Pelah Hoyt
board Member
- Total calculated
- $0
- Hours/week
- 1
-
Andrea Davis
Executive Director
- Total calculated
- $113,731
- From this org
- $113,731
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 1 related
-
Matt Joseph
Finance Director
- Total calculated
- $89,808
- From this org
- $89,808
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 1 related
-
Karissa Trujillo
Deputy Director
- Total calculated
- $83,495
- From this org
- $83,495
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40 + 1 related
-
Heather McMilin
Project Development Director
- Total calculated
- $92,874
- From this org
- $92,874
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(c)(2) · Hold Title · MT · controlled entity
Directly controlled by Homeword Inc
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
Housing · MT · income $136,341 · assets $454,108
Directly controlled by Homeword Inc
-
Housing · MT · income $119,567 · assets $501,864
Directly controlled by Homeword Inc
-
Housing · MT · income $127,245 · assets $629,924
Directly controlled by Homeword Inc
-
Housing · MT · income $191,969 · assets $1,127,071
Directly controlled by Homeword Inc
-
Asset Holding · MT · income $63,175 · assets $2,701,933
Directly controlled by Homeword Inc
-
Housing · MT · income $176,635 · assets $2,070,569
Directly controlled by Homeword Inc
-
Housing · MT · income $1,845,823 · assets $12,816,560
Directly controlled by Homeword Inc
-
Housing · MT · income $797,718 · assets $3,340,415
Directly controlled by homeword Inc
-
Housing · MT · income $565,661 · assets $3,719,337
Directly controlled by Homeword Inc
-
Housing · MT · income $813,682 · assets $3,069,581
Directly controlled by Homeword Inc
-
Housing · MT · income $345,318 · assets $4,153,980
Directly controlled by Homeword Inc
-
Ouellette Place Limited Partnership
Housing · MT · income $338,980 · assets $3,996,114
Directly controlled by Homeword Inc
-
Housing · MT · income $190,445 · assets $3,233,329
Directly controlled by Homeword Inc
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
Investment · Housing · MT · 79% owned · share of income $25,414 · share of assets $652,157
Directly controlled by Homeword Inc
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313179349305446
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