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Homeward Bound INC

Tax-deductible

Michigan City, IN501(c)(3)HousingEIN 81-4250048Revenue $299K in FY2024

On file with the IRShomewardboundcasa.comPo Box 9214, 46361-9214 · Michigan City, INTax-exempt since Apr 2017Publicly supported — 509(a)(2)

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Public Charity (509)(a)(2) created to provide housing and other assistance to homeless in Laporte County, Indiana

501(c)(3) charity; gifts are tax-deductible.
51¢ of each $1 spent went to programs.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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 4
filings with a surplus
Average surplus $103K a year · 73% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
51%
of spending
Worth a look: 51% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
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
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$299K
+293% vs prior year
Spent
$63K
To programs
51%
Net assets
$664K
By yearFY2020–FY2024
Revenue
$299K
FY2024▲ +293%
Tap a bar for its year
Revenue by fiscal year
FY2020$34K
FY2021$47K
FY2022$157K
FY2023$76K
FY2024$299K
Expenses
$63K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$22K
FY2021Not on file
FY2022$15K
FY2023$56K
FY2024$63K
Net assets
$664K
FY2024▲ +55%
Tap a bar for its year
Net assets by fiscal year
FY2020$247K
FY2021$272K
FY2022$400K
FY2023$428K
FY2024$664K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2017.

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

Where the money goes

51 cents of each dollar spent went to programs.

Program services 51% · $32K Management & general 45% · $28K Fundraising 4% · $3K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Leigh Coburn
Director
$0Pt VII · Sec A
Jim Erikkson
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Sandi Keller
President
$0Pt VII · Sec A
Tricia Kuiken
Secretary
$0Pt VII · Sec A
Ed Merrion
Treasurer
$0Pt VII · Sec A
Jim Musial
Director
$0Pt VII · Sec A
See Homeward Bound 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

Provides housing and aid to homeless individuals in LaPorte County, Indiana.

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Provided by the organization

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2 programs · $32K · in their own filed words · FY2024
01

Housing development. This program is developing 12 affordable small homes in michigan city, indiana.

$32Kprogram expense
02

Rental assistance program. Individuals and families were provided with support paid directly to the agency rernting property to them. The objective is to reduce the level of homelessness.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2022
Unity Foundation of Laporte County INCFY2022$9K
Total grants receivedfrom 1 funder$9K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$299K
Ln 12
Gifts and grantsLn 1h$267K
Investment incomeLn 3$32K
Money outPt IX
$63K
Ln 25
Programscol B$32K
Managementcol C$28K
Fundraisingcol D$3K
Owns and owesPt X
$664K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$664K
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$267K
Investment incomeLn 3$32K
Total revenueLn 12$299K
Assets in detailPt X, end of year
CashLn 1$17K
Cash and savings togetherLn 1–2$17K
InvestmentsLn 11–13$591K
Land, buildings, equipmentLn 10c$56K
Total assetsLn 16$664K
LiabilitiesLn 26$0
Net assetsLn 32$664K
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$59K$17K
InvestmentsLn 11–13$321K$591K
Land, buildings, equipmentLn 10c$56K$56K
Total assetsLn 16$436K$664K
LiabilitiesLn 26$8K$0
Net assetsLn 32$428K$664K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$13K$13K
Investment management feesLn 11f$1K$1K
Other fees for servicesLn 11g$7K$4K$3K
Advertising and promotionLn 12$26K$26K
Office expensesLn 13$641$641
Information technologyLn 14$6K$6K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$8K$6K$1K
Total functional expensesLn 25$63K$32K$28K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $299K$63K$237K$664K 990 PDF
FY2023 $76K$56K$21K$428K 990 PDF
FY2022 $157K$15K$142K$400K 990 PDF
FY2021 $47K$272K 990 PDF
FY2020 $34K$22K$12K$247K 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 FY2024 990 (6 parts)
Part I · Summary $299,152 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $70,501$267,263
I-9 Program service revenue$0
I-10 Investment incomePrior year $5,705$31,889
I-11 Other revenue$0
I-12 Total revenuePrior year $76,206$299,152
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $55,654$62,527
I-18 Total expensesPrior year $55,654$62,527
I-19 Revenue less expensesPrior year $20,552$236,625
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $299,152 across 4 lines filed
VIII-1f All other contributions, gifts and grants$267,263
VIII-1h Total contributions, gifts and grants$267,263
VIII-3 Investment incomeExcluded from tax $31,889$31,889
VIII-12 Total revenueExcluded from tax $31,889$299,152
Part IX · Statement of functional expenses $62,527 across 8 lines filed
IX-11c Accounting feesManagement $13,429$13,429
IX-11f Investment management feesManagement $1,341$1,341
IX-11g Other fees for servicesManagement $4,092 · Fundraising $2,630$6,722
IX-12 Advertising and promotionPrograms $25,500$25,500
IX-13 Office expensesManagement $641$641
IX-14 Information technologyManagement $5,819$5,819
IX-23 InsuranceManagement $1,343$1,343
IX-24 Other expenses (24a–d)Programs $6,500 · Management $1,232$7,732
IX-25 Total functional expensesPrograms $32,000 · Management $27,897 · Fundraising $2,630$62,527
Part X · Balance sheet $664,239 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $58,811$16,536
X-10c Land, buildings and equipment, netStart of year $56,487$56,487
X-11 Publicly traded securitiesStart of year $320,576$591,216
X-16 Total assetsStart of year $435,874$664,239
X-26 Total liabilitiesStart of year $8,260$0
X-27 Net assets without donor restrictionsStart of year $427,614$434,239
X-28 Net assets with donor restrictions$230,000
X-32 Total net assets or fund balancesStart of year $427,614$664,239
X-33 Total liabilities and net assetsStart of year $435,874$664,239
Part XI · Reconciliation of net assets $664,239 net assets at year end
XI-1 Total revenue$299,152
XI-2 Total expenses$62,527
XI-3 Revenue less expenses$236,625
XI-4 Net assets at start of year$427,614
XI-10 Net assets at end of year$664,239

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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