Home Corporation

Not tax-deductible

Bozeman, MTMutual-benefit / member-serving EIN 81-0511380Revenue $1.7M in FY2025

On file with the IRS32 S Tracy Ave, 59715-4659 · Bozeman, MTTax-exempt since Jun 1997

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Provide low income housing

97¢ of each $1 spent went to programs.
Run by 14 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $180K a year · 39% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$497K
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+610% vs prior year
Spent
$733K
To programs
97%
Net assets
$2.0M
By yearFY2020–FY2025
Revenue
$1.7M
FY2025▲ +610%
Tap a bar for its year
Revenue by fiscal year
FY2020$205K
FY2021$205K
FY2022$211K
FY2023$232K
FY2024$238K
FY2025$1.7M
Expenses
$733K
FY2025▲ +271%
Tap a bar for its year
Expenses by fiscal year
FY2020$189K
FY2021$199K
FY2022$175K
FY2023$205K
FY2024$198K
FY2025$733K
Net assets
$2.0M
FY2025▲ ×11
Tap a bar for its year
Net assets by fiscal year
FY2020$113K
FY2021$96K
FY2022$112K
FY2023$139K
FY2024$182K
FY2025$2.0M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1997.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $715K Management & general 3% · $19K

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 · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Home Corporation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing to low-income families in Bozeman, Montana.

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Provided by the organization

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1 program · $715K · in their own filed words · FY2024
01

The sole purpose of this organization is to hold title to the west babcock apartments, a 24 unit affordable housing complex, and to provide housing to low income families in bozeman, montana.

$715Kprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.4M
Fees for servicesLn 2g$303K
Investment incomeLn 3$3K
Money outPt IX
$733K
Ln 25
Programscol B$715K
Managementcol C$19K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$179K
Total assetsLn 16$2.5M
LiabilitiesLn 26$497K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$1.4M
Fees for servicesLn 2g$303K
Investment incomeLn 3$3K
Gains on assetsLn 7$0
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1−$57K
SavingsLn 2$236K
Cash and savings togetherLn 1–2$179K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$107K
Total assetsLn 16$2.5M
LiabilitiesLn 26$497K
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 614
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$331K$179K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$323K$1.9M
Total assetsLn 16$684K$2.5M
LiabilitiesLn 26$502K$497K
Net assetsLn 32$182K$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$241K$225K$17K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$21K$19K$1K
Management feesLn 11a$0
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$550$550
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$58K$58K
Advertising and promotionLn 12$280$280
Office expensesLn 13$5K$5K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$113K$113K
TravelLn 17$145$145
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$15K$15K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$109K$109K
InsuranceLn 23$38K$38K
Other expenses (24a–d)Ln 24$129K$129K
All other expensesLn 24e$0
Total functional expensesLn 25$733K$715K$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.7M$733K$954K$2.0M 990 PDF
FY2024 $238K$198K$40K$182K 990 PDF
FY2023 $232K$205K$26K$139K 990 PDF
FY2022 $211K$175K$36K$112K 990 PDF
FY2021 $205K$199K$6K$96K 990 PDF
FY2020 $205K$189K$16K$113K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,687,642 revenue, 12 lines filed
I-8 Contributions and grants$1,381,349
I-9 Program service revenuePrior year $232,389$303,321
I-10 Investment incomePrior year $1,149$2,972
I-11 Other revenuePrior year $4,008$0
I-12 Total revenuePrior year $237,546$1,687,642
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $33,012$261,875
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $164,567$471,572
I-18 Total expensesPrior year $197,579$733,447
I-19 Revenue less expensesPrior year $39,967$954,195
Part VI · Governance 0 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,687,642 across 9 lines filed
VIII-1e Government grants$1,381,349
VIII-1h Total contributions, gifts and grants$1,381,349
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $303,321$303,321
VIII-3 Investment incomeExcluded from tax $2,972$2,972
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $303,321 · Excluded from tax $2,972$1,687,642
Part IX · Statement of functional expenses $733,447 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $224,635 · Management $16,631$241,266
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $19,188 · Management $1,421$20,609
IX-11a Management fees$0
IX-11b Legal feesPrograms $2,405$2,405
IX-11c Accounting feesManagement $550$550
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $58,419$58,419
IX-12 Advertising and promotionPrograms $280$280
IX-13 Office expensesPrograms $4,991$4,991
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $113,434$113,434
IX-17 TravelPrograms $145$145
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $15,413$15,413
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $108,617$108,617
IX-23 InsurancePrograms $37,907$37,907
IX-24 Other expenses (24a–d)Programs $129,411$129,411
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $714,845 · Management $18,602 · Fundraising $0$733,447
Part X · Balance sheet $2,463,376 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $85,249−$57,075
X-2 Savings and temporary cash investmentsStart of year $246,024$235,847
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $27,998$239,649
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $2,012$0
X-10c Land, buildings and equipment, netStart of year $323,107$1,937,824
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$107,131
X-16 Total assetsStart of year $684,390$2,463,376
X-17 Accounts payable and accrued expensesStart of year $14,406$40,198
X-25 Other liabilitiesStart of year $164,011$159,430
X-26 Total liabilitiesStart of year $502,364$496,533
X-27 Net assets without donor restrictionsStart of year $182,026$1,966,843
X-32 Total net assets or fund balancesStart of year $182,026$1,966,843
X-33 Total liabilities and net assetsStart of year $684,390$2,463,376
Part XI · Reconciliation of net assets $1,966,843 net assets at year end
XI-1 Total revenue$1,687,642
XI-2 Total expenses$733,447
XI-3 Revenue less expenses$954,195
XI-4 Net assets at start of year$182,026
XI-8 Prior period adjustments$541,237
XI-9 Other changes in net assets$289,385
XI-10 Net assets at end of year$1,966,843

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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