Homes for Laurel II INC EIN 36-4569310 Form 990 (PDF) Claim this org

Homes for Laurel II INC

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Provides affordable, safe housing and services for low-income seniors. For fiscal year 2025 it reported $167K in revenue, $218K in expenses, and $-588K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Annapolis, MD
Website
www.homesforamerica.org
Filings
6 on file (2020–2025)
Revenue
$167KFY2025
Expenses
$218K
Net assets
$-588K
People
9
Filings
6
Updates
0
More identity details & actions ⌄
EIN  36-4569310 Public charity (501(c)(3)) Annapolis, MD
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides affordable, safe housing and services for low-income seniors.
Leadership
Cathy Wallick · Director
Money in and out
$167K revenue, $218K expenses
Bottom line
90% program efficiency
Where the money goes · FY2025
Total revenue
$167K
Pt VIII · Ln 12
Total expenses
$218K
Pt IX · Ln 25
Net assets
$-588K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$51K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
0.4mo
months of highly liquid reserves at operating expense rate▼ -76% vs prior filing year
Surplus margin
-30%
revenue over expenses, this year▼ -30% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$167K
FY2025▼ -1%
Expenses
$218K
FY2025▲ +4%
Total assets
$1.3M
FY2025▼ -3%
Total liabilities
$1.9M
FY2025+0.2%
Total revenue
$167K
Pt VIII · Ln 12
Total expenses
$218K
Pt IX · Ln 25
Net assets
$-588K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$51K
Total assetsPt X · Ln 16$1.3M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHomes for Laurel II INC
EINHdr · item D36-4569310
Principal addressHdr · item CAnnapolis, MD
WebsiteHdr · item Jwww.homesforamerica.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFMar 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President & Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary/Treasurer & Director
$0Pt VII · Sec A
President & Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $197K of program spending, described in the organization's own filed words · FY2024.
01

20 units of housing serving senior citizens under section 202 of thefederal housing act of 1959. Services, in addition to housing,include monthly continental breakfast, partnership withsalvation army to provide free weekday meals includingtransportation, meals on wheels, monthly delaware food bankdonations, on-site bus stop, computer…

$197Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue100%$167K
Investment income$342
Total revenueLn 12$167K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$197K
Management & general10%$21K
Total functional expensesLn 25$218K

Balance Sheet

Part X · end of year
CashLn 1$8K
Total assetsLn 16$1.3M
Total liabilitiesLn 26$1.9M
Total net assetsLn 32$-588K
Months of cash on handcomputed0.4

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $8K · Operating expenses/yr $218K
0.4 months
Where the money goes
Program services
Program services $197K · Total expenses $218K
90%
Management & General
Management & general $21K · Total expenses $218K
10%
Fundraising
Fundraising $0 · Total expenses $218K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $167K
0%
Government reliance
Government grants — · Total revenue $167K
Earned-income share
Program service revenue $167K · Total revenue $167K
100%
Investment reliance
Investment income $342 · Total revenue $167K
+0.2%
Program self-sufficiency
Program service revenue $167K · Total expenses $218K
77%
Growth & trend
Revenue growth (YoY)
This year $167K · Prior year $170K
-1%
Revenue CAGR
FY2019 $149K · FY2024 $167K
+2%
Net-asset trend (YoY)
End of year $-588K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $167K · Expenses $218K
-30%
Liabilities-to-Assets
Total liabilities — · Total assets $1.3M
Net-asset ratio
Net assets $-588K · Total assets $1.3M
-45%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.3M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Cathy Wallick · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $218K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $218K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Revenue growth -1%
Legal fee ratio <0.01%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$167K revenue · viewing · ⤓ 990 PDF
FY2024$170K revenue · ⤓ 990 PDF
FY2023$170K revenue · ⤓ 990 PDF
FY2022$168K revenue · ⤓ 990 PDF
FY2021$157K revenue · ⤓ 990 PDF
FY2020$149K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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