Homes Of Opportunity Incorporated
- Assets
- $1.2m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 374
- Location
- Grand Rapids, MI
- Founding
- 05/1985
- Data as of
- 09/2019
- EIN
- 38-2329011
Organization Overview
Homes Of Opportunity Incorporated is located in Grand Rapids, MI. The organization was established in 1985. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 09/2019, Homes Of Opportunity Incorporated employed 374 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Homes Of Opportunity Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2019, Homes Of Opportunity Incorporated generated $7.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $7.5m during the year ending 09/2019. While expenses have increased by 3.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
CARE AND SERVICES FOR THE MENTALLY IMPAIRED, WITH TWENTY-EIGHT GROUP HOMES AS RESIDENCES FOR CLIENTS, AND ONE VOCATIONAL TRAINING WORKSHOP TO ASSIST CLIENTS IN EMPLOYMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY BASED SETTINGS FOR THE MENTALLY IMPAIRED, APPROXIMATELY 92 CLIENTS SERVED.
JOB TRAINING AND EMPLOYMENT FOR THE MENTALLY IMPAIRED WITH ONE LOCATION, AND 72 CLIENTS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence A Maniaci Executive Director | OfficerTrustee | 40 | $262,678 |
Patrick Houlihan Treasurer | OfficerTrustee | 1 | $0 |
Frank Larocca Secretary | OfficerTrustee | 1 | $0 |
John Eckstein Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,662 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,041,682 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $231,749 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,255,946 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $126,320 |
| Payroll taxes | $380,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,276 |
| Fees for services: Accounting | $44,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $479,125 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,590 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $133,897 |
| Insurance | $168,637 |
| All other expenses | $0 |
| Total functional expenses | $7,507,758 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $528,712 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $344,776 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $105,142 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,801 |
| Total assets | $1,211,913 |
| Accounts payable and accrued expenses | $442,945 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $170,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $613,927 |
| Net assets without donor restrictions | $597,986 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $597,986 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Homes Of Opportunity Incorporated has recieved totaling $7,472.
| Awarding Organization | Amount |
|---|---|
National Association For The Exchange Of Industrial Resources I Galesburg, IL PURPOSE: CARE OF ILL, NEEDY, OR MINOR | $7,472 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |
Taylor Community Development Corp Taylor, MI | $29,334,174 | $14,242,807 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Western Reserve Revitalization & Management Co Cleveland, OH | $81,496,475 | $17,708,509 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |
Famicos Foundation Inc Cleveland, OH | $56,363,268 | $13,331,115 |
Mht Housing Inc Bingham Farms, MI | $103,750,395 | $19,352,676 |