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 organization's board of directors held two meetings in 2018.
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 directly compensated
- Three members out of the 11 member board of directors (27%) are compensated directly or indirectly. One voting board member is directly compensated and two are indirectly compensated as relatives of a paid employee.
Operation FINALLY HOME meets the remaining 18 Standards for Charity Accountability.
Operation FINALLY HOME (OFH) provides custom built, mortgage-free homes to wounded, ill and injured veterans, and the widows of the fallen and their families. The organization reports that it partners with national and local corporate sponsors, builder associations, builders, developers, individual contributors, and volunteers in local communities across the United States to build homes. In 2018, OFH reports it built 17 homes and remodeled 10 homes for wounded veterans.
For the year ended December 31, 2018, Operation FINALLY HOME's program expenses were:
Program services |
$3,688,108 |
Total Program Expenses: |
$3,688,108 |
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Chief Executive
Russell Carroll, Executive Director
-
Compensation*
$145,448
-
Chair of the Board
Daniel Wallrath
-
Chair's Profession / Business Affiliation
Founder, Operation FINALLY HOME
-
Board Size
11
-
Paid Staff Size
11
*2018 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Note: Daniel Wallrath, Founder of Operation FINALLY HOME, was the highest paid employee, recieving $167,861 in compensation.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 26% of related contributions. (Related contributions, which totaled $5,658,782, 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, 2018.
Source of Funds |
Contributions |
$4,013,807 |
Contributed materials and services |
$804,296 |
Fundraising |
$435,100 |
Grants |
$405,579 |
Miscellaneous income |
$111,436 |
Investment income, net |
($69,471) |
Total Income |
$5,700,747 |
- Programs: 65%
- Fundraising: 26%
- Administrative: 9%
Total Income |
$5,700,747 |
Program expenses |
$3,688,108 |
Fundraising expenses |
$1,465,573 |
Administrative expenses |
$563,255 |
Other expenses |
$0 |
Total expenses: |
$5,716,936 |
Income in Excess of Expenses |
$-16,189 |
Beginning Net Assets |
$3,415,511 |
Other Changes In Net Assets |
$0 |
Ending Net Assets |
$3,399,322 |
Total Liabilities |
$945,042 |
Total Assets |
$4,344,364 |
Note: According to OFH's 2018 audited financial statements, the organization received in-kind contributions of $804,296 in the form of building materials and construction services ($794,046), fundraising event costs ($10,050), and advertising and printing ($200).