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CHARITY REVIEW
Issued: November 2024 Expires: November 2026

Halcyon House

Standards Not Met
Standards Not Met
1 14
(202) 796-4240
3400 Prospect Street NW
Washington, DC, 20007
https://halcyonhouse.org
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Halcyon House does not meet the following 2 Standards for Charity Accountability:

Standard 1 (Oversight of Operations and Staff)
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.

Halcyon House does not meet this Standard because its board of directors does not:

  • Have a voting member of the board who is assigned the responsibility of serving as the treasurer. 

Standard 14 (Budget)
Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

Halcyon House does not meet this Standard because, when the organization provided 2024 budget information, it indicated that the budget:

  • Did not identify total projected program service expenses, broken down by major program category (Halcyon awards, other programs, and social enterprise).
  • Did not identify total projected fundraising expenses.

Halcyon House meets the remaining 18 Standards for Charity Accountability.

Stated Purpose:
"to accelerate the impact-driven future of business."

Year, State Incorporated:
2017, DC

Halcyon House provides technical assistance for entrepreneurs starting or scaling their businesses and access to various forms of capital. The organization works with early-stage entrepreneurs to build capacity, serve as an ecosystem convener to attract, and provide access to capital opportunities; and provide access to networks for its fellows and the broader investment community.   Halcyon House provides fellowships that support the needs of early-stage founders, including funding, skill building, consulting, leadership coaching, and mentorship.

For the year ended December 31, 2022, Halcyon House's program expenses were:

Other programs $190,275
Social enterprise $3,585,683
Halcyon awards $482,709
Total Program Expenses $4,258,667

Chief Executive
Daniel Barker, President and Chief Executive Officer

Compensation*
$175,000

Chair of the Board
Martha Metz

Chair's Profession / Business Affiliation
Founder, Metz Investments LP

Board Size
11

Paid Staff Size
18

*2023 compensation, as reported by the charity, includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Method(s) Used:
Grant proposals, Internet, Direct mail appeals

Fundraising costs were 3% of related contributions. (Related contributions, which totaled $5,996,864, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Halcyon House's audited financial statements for the year ended December 31, 2022.

Source of Funds
Investment loss, net $-25,507
Facilities fees $14,086
Other income $404,202
Forgiveness of Paycheck Protection Program loans $510,914
In-kind contributions $2,406,060
Grants and contributions $3,079,890
Total Income $6,389,645

Programs: 74% Fundraising: 3% Administrative: 22%

Total Income $6,389,645
Total expenses: $5,717,363
  Program expenses $4,258,667
  Fundraising expenses $191,397
  Administrative expenses $1,267,299
  Other expenses $0
Income in Excess of Expenses $672,282
Beginning Net Assets $814,404
Other Changes In Net Assets $0
Ending Net Assets $1,486,686
Total Liabilities $163,295
Total Assets $1,649,981

Note: According to Halcyon House's 2022 audited financial statements - consolidated -, the organization received in-kind contributions totaling $2,406,060 in the form of professional services ($1,623,224), office space ($720,000), and goods ($62,836).

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

RELATED CONTENT

Report completed by:
BBB Wise Giving Alliance