Operation Finally Home
Standards For Charity Accountability
Governance
-
Board Oversight
-
Board Size
-
Board Meetings
-
Board Compensation
-
Conflict of Interest
Measuring Effectiveness
-
Effectiveness Policy
-
Effectiveness Report
Finances
-
Program Expenses
-
Fundraising Expenses
-
Accumulating Funds
-
Audit Report
-
Detailed Expense Breakdown
-
Accurate Expense Reporting
-
Budget Plan
Fundraising & Info
-
Truthful Materials
-
Annual Report
-
Website Disclosures
-
Donor Privacy
-
Cause Marketing Disclosures
-
Complaints
Operation Finally Home does not meet the following 2 Standards for Charity Accountability:
Standard 3 (Frequency and Attendance of Board Meetings)
An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.
OFH does not meet this Standard because:
- The board of directors held two meetings in 2023.
Standard 4 (Compensated Board Members)
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.
OFH does not meet this Standard because:
- The chair of the board is compensated directly.
- Three members out of the 15 member board of directors (20%) are compensated either directly or indirectly. One member of the board is directly compensated and two members are indirectly compensated as relatives of staff.
Operation Finally Home meets the remaining 18 Standards for Charity Accountability.
Stated Purpose:
"to provide homes and home modifications to America’s veterans, first responders and their families."
Year, State Incorporated:
2005, TX
Operation Finally Home (OFH) provides custom built, mortgage-free homes, home modifications and transitional housing to wounded, ill and injured veterans, first responders, surviving spouses and their families. The organization reports that it partners with national and local corporate sponsors, builder associations, builders, developers, individual contributors, and volunteers in communities across the United States to build homes.
For the year ended December 31, 2023, Operation Finally Home's program expenses were:
Program services: $4,929,173
Total Program Expenses: $4,929,173
Chief Executive
Russell L. Carroll, President
Compensation*
$177,470
Chair of the Board
Daniel D. Wallrath
Chair's Profession / Business Affiliation
Retired, Custom Home Builder
Board Size
15
Paid Staff Size
12
*2023 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio
Fundraising costs were 22% of related contributions. (Related contributions, which totaled $7,000,874, 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 Operation Finally Home's audited financial statements for the year ended December 31, 2023.
Source of Funds
| Contributions | $4,455,481 |
| In-kind contributions | $824,338 |
| Special events, net | $122,731 |
| Grants | $1,598,324 |
| Investment earnings, net | $155,383 |
| Gain on sale of assets | $19,660 |
| Proceeds from sale of veteran home | $246,620 |
| Other income | $12,781 |
| Total Income | $7,435,318 |
Programs: 71% Fundraising: 23% Administrative: 6%
| Total Income | $7,435,318 |
| Total expenses: | $6,909,805 |
| Program expenses | $4,929,173 |
| Fundraising expenses | $1,574,358 |
| Administrative expenses | $406,274 |
| Other expenses | $0 |
| Income in Excess of Expenses | $525,513 |
| Beginning Net Assets | $4,893,719 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $5,419,232 |
| Total Liabilities | $831,196 |
| Total Assets | $6,250,428 |
Note: According to the organization's 2023 audited financial statements, OFH received in-kind contributions totaling $824,338 in the form of building materials and construction services ($786,329), a vehicle ($35,259), and advertising and printing ($2,750).
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
-
Meets Standards
-
Standards Not Met
-
Did Not Disclose
-
Review in Progress
-
Unable to Verify
Report completed by:
BBB Wise Giving Alliance