project:HOMES (pH) works to improve the housing and living conditions of elderly, disabled, and low-income persons in Richmond and surrounding localities. The organization reports having an all-encompassing approach to housing and challenging the misconceptions of what defines affordable housing through the production and preservation of high-quality affordable homes, large-scale home repairs, and improved accessibility and energy efficiency for existing homes. As reported by pH, the organization impacted 8,237 Virginians in 2020 by improving 3,798 homes and selling 23 affordable homes.
For the year ended June 30, 2021, project:HOMES's program expenses were:
Rehabilitation |
$4,432,008 |
Weatherization |
$4,261,507 |
Revitalization |
$1,453,058 |
Volunteer services |
$470,436 |
Total Program Expenses: |
$10,617,009 |
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Chief Executive
Lee Householder, Chief Executive Officer
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Compensation*
$190,224
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Chair of the Board
John Thaniel
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Chair's Profession / Business Affiliation
Chief Financial Officer, Virginia Department for Aging and Rehabilitative Services
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Board Size
13
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Paid Staff Size
38
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Telephone appeals, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 1% of related contributions. (Related contributions, which totaled $10,857,454, 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 project:HOMES's audited financial statements for the year ended June 30, 2021.
Source of Funds |
Grants (state, federal, local, and other agencies) |
$9,626,871 |
Sales, net |
$1,071,558 |
Program services revenue |
$530,007 |
PPP Loan forgiveness |
$525,418 |
Rent |
$312,278 |
Contributions - corporations |
$186,811 |
Contributions - individuals and churches |
$154,382 |
Gain on sale of property and equipment |
$130,412 |
Contributions - foundations |
$118,700 |
Investment return, net |
$74,062 |
Total Income |
$12,730,499 |
- Programs: 95%
- Administrative: 5%
- Fundraising: Less than 1%
Total Income |
$12,730,499 |
Program expenses |
$10,617,009 |
Fundraising expenses |
$93,224 |
Administrative expenses |
$490,792 |
Other expenses |
$0 |
Total expenses: |
$11,201,025 |
Income in Excess of Expenses |
$1,529,474 |
Beginning Net Assets |
$7,347,543 |
Other Changes In Net Assets |
$224,562 |
Ending Net Assets |
$9,101,579 |
Total Liabilities |
$3,717,495 |
Total Assets |
$12,819,074 |
Note: In the financial summary above, "other changes in net assets" represents noncontrolling investments in subsidiary.