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Hero Homes INC FY2022 filing

Tax-deductible

Purcellville, VA501(c)(3)Human ServicesEIN 47-4332276Revenue $831K in FY2022

On file with the IRSherohomesloudoun.org125 Hirst Rd Ste 3c, 20132-6000 · Purcellville, VATax-exempt since Oct 2015Publicly supported charity — 170(b)(1)(A)(vi)

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Building houses, jobs, and community for those who have fought for the preservation of freedom and democracy for others. Herohomes is a 501(c)3 not for profit foundation established to build houses for those who have fought for the preservation of freedom and democracy for others. These deserving vets and their families cannot regain what they lost defending our country, but we can give them a new start in building a solid foundation for their future and the dignity of an independent life in a wonderful small town community setting. We provide the opportunity for disabled veterans to rejoin society with the security and pride of home ownership. Fundraising began in 2015 to fund the purchase of land and construction on the first home for a disabled veteran was started in 2016. One home was donated to a disabled veteran in 2017, one in 2018 and another in 2019.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $39K a year · 12% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$831K
+94% vs prior year
Spent
$1.2M
To programs
100%
Net assets
$487K
By yearFY2020–FY2024
Revenue
$831K
FY2022▲ +94%
Tap a bar for its year
Revenue by fiscal year
FY2020$118K
FY2021$428K
FY2022$831K
FY2023$107K
FY2024$187K
Expenses
$1.2M
FY2022▲ +428%
Tap a bar for its year
Expenses by fiscal year
FY2020$9K
FY2021$224K
FY2022$1.2M
FY2023$37K
FY2024$23K
Net assets
$487K
FY2022▼ -42%
Tap a bar for its year
Net assets by fiscal year
FY2020$636K
FY2021$840K
FY2022$487K
FY2023$558K
FY2024$722K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.2M Management & general 0% · $3K Fundraising 0% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Hummel
Treasurer
$0Pt VII · Sec A
Bryan Snow
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Kim Trombly
Director
$0Pt VII · Sec A
Kim Valentine
Secretary
$0Pt VII · Sec A
See Hero Homes INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds homes and jobs for veterans to provide a new start and dignity.

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2022
01

Home Award Program

In 2022 herohomes, inc completed and awarded their fifth home to a disabled veteranand began planning and construction on building lot for home number 6.

$1.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Soldiers and Sailors Memorial and Community Endowment IncorporatedFY2024$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 1 grant · $16K · 2021–2021
Unitemized GrantFY2021$15,913

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$831K
Ln 12
Gifts and grantsLn 1h$739K
Other incomeLn 4–11$93K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.2M
Managementcol C$3K
Fundraisingcol D$1K
Owns and owesPt X
$487K
net assets · Ln 32
Cash and savingsLn 1–2$246K
Total assetsLn 16$487K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$739K
Noncash giftsLn 1g$636K
Other incomeLn 4–11$93K
Total revenueLn 12$831K
Assets in detailPt X, end of year
CashLn 1$246K
Cash and savings togetherLn 1–2$246K
InvestmentsLn 11–13$5K
Land, buildings, equipmentLn 10c$2K
Other assetsLn 15$232K
Total assetsLn 16$487K
LiabilitiesLn 26$0
Net assetsLn 32$487K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$375K$246K
InvestmentsLn 11–13$5K
Land, buildings, equipmentLn 10c$3K$2K
Total assetsLn 16$840K$487K
LiabilitiesLn 26$0$0
Net assetsLn 32$840K$487K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$2K$1K$1K
Advertising and promotionLn 12$448$448
Office expensesLn 13$3$3
Depreciation, depletion and amortizationLn 22$2K$2K$333
InsuranceLn 23$698$698
Other expenses (24a–d)Ln 24$1.2M$1.2M$854$835
All other expensesLn 24e$898$799$99
Total functional expensesLn 25$1.2M$1.2M$3K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $187K$23K$164K$722K 990 PDF
FY2023 $107K$37K$71K$558K 990 PDF
FY2022 Viewing $831K$1.2M−$353K$487K 990 PDF
FY2021 $428K$224K$204K$840K 990 PDF
FY2020 $118K$9K$109K$636K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $831,488 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $349,428$738,930
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $78,741$92,558
I-12 Total revenuePrior year $428,169$831,488
I-13 Grants and similar amounts paidPrior year $15,913$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $208,420$1,184,077
I-18 Total expensesPrior year $224,333$1,184,077
I-19 Revenue less expensesPrior year $203,836−$352,589
Part VI · Governance 0 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $831,488 across 5 lines filed
VIII-1f All other contributions, gifts and grants$738,930
VIII-1g Noncash contributions (included above)$636,362
VIII-1h Total contributions, gifts and grants$738,930
VIII-8 Net income from fundraising eventsExcluded from tax $92,558$92,558
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $92,558$831,488
Part IX · Statement of functional expenses $1,184,077 across 8 lines filed
IX-11b Legal feesPrograms $2,055$2,055
IX-11c Accounting feesPrograms $1,250 · Management $1,250$2,500
IX-12 Advertising and promotionFundraising $448$448
IX-13 Office expensesManagement $3$3
IX-22 Depreciation, depletion and amortizationPrograms $1,686 · Management $333$2,019
IX-23 InsurancePrograms $698$698
IX-24 Other expenses (24a–d)Programs $1,173,767 · Management $854 · Fundraising $835$1,175,456
IX-24e All other expensesPrograms $799 · Management $99$898
IX-25 Total functional expensesPrograms $1,180,255 · Management $2,539 · Fundraising $1,283$1,184,077
Part X · Balance sheet $487,459 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $375,463$245,820
X-10c Land, buildings and equipment, netStart of year $3,465$1,779
X-12 Other securities$4,800
X-14 Intangible assetsStart of year $3,141$2,809
X-15 Other assetsStart of year $457,979$232,251
X-16 Total assetsStart of year $840,048$487,459
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $840,048$487,459
X-33 Total liabilities and net assetsStart of year $840,048$487,459
Part XI · Reconciliation of net assets $487,459 net assets at year end
XI-1 Total revenue$831,488
XI-2 Total expenses$1,184,077
XI-3 Revenue less expenses−$352,589
XI-4 Net assets at start of year$840,048
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$487,459

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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