project:HOMES
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
project:HOMES does not meet the following 1 Standards for Charity Accountability:
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.
project:HOMES 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.
- Total projected fundraising expenses.
- Total projected administrative expenses.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability: 6, 7, 13, 15
project:HOMES meets the remaining 15 Standards for Charity Accountability.
Stated Purpose:
"to improve lives by improving homes."
Year, State Incorporated:
1992, VA
project:HOMES provides affordable housing and energy conservation services to low-income homeowners and families. The organization reports working to improve the housing and living conditions of elderly, disabled, and low-income persons in Richmond and surrounding localities, 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.
For the year ended June 30, 2023, project:HOMES's program expenses were:
| Rehabiliation | $4,394,201 |
| Energy conservation | $11,290,722 |
| Volunteer services | $609,093 |
| Affordable housing | $1,279,404 |
| Total Program Expenses | $17,573,420 |
Chief Executive
Lee Householder, Chief Executive Officer
Compensation*
$228,130
Chair of the Board
John Tull
Chair's Profession / Business Affiliation
Senior Vice President Director of Strategic Finance and Treasurer, Union Bank and Trust
Board Size
14
Paid Staff Size
53
*2021 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Grant proposals
Fundraising costs were 1% of related contributions. (Related contributions, which totaled $19,344,640, 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, 2023.
Source of Funds
| Sales revenue, net | $58,351 |
| Program service revenue | $312,619 |
| Other revenue | $526,240 |
| Contributions | $1,481,108 |
| Grants- State | $2,516,333 |
| Grants- Local and other agencies | $6,604,584 |
| Grants- Federal | $8,742,615 |
| Total Income | $20,241,850 |
Programs: 93% Fundraising: 1% Administrative: 6%
| Total Income | $20,241,850 |
| Total expenses: | $18,970,428 |
| Program expenses | $17,573,420 |
| Fundraising expenses | $201,850 |
| Administrative expenses | $1,195,158 |
| Other expenses | $0 |
| Income in Excess of Expenses | $1,271,422 |
| Beginning Net Assets | $14,506,685 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $15,753,967 |
| Total Liabilities | $5,045,185 |
| Total Assets | $20,799,152 |
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
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance