Homefront Fund FY2021 filing

Austin, TXUnknown exempt organizationEIN 85-1026889Revenue $164K in FY2021

On file with the IRShomefrontatx.com1023 Springdale Road 1j · Austin, TX

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Homefront engages stakeholders to find innovative solutions to austin's most critical and unmet needs. Based on sustainability and potential for impact, we provide funding, shared services and professional services to accelerate existing programs or pilot and launch new ones.

82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $227 a year · under 1% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $84K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$292K
81% of total assets
Concern: liabilities are 81% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$164K
-72% vs prior year
Spent
$319K
To programs
82%
Net assets
$69K
By yearFY2020–FY2022
Revenue
$164K
FY2021▼ -72%
Tap a bar for its year
Revenue by fiscal year
FY2020$590K
FY2021$164K
FY2022$277K
Expenses
$319K
FY2021▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$416K
FY2021$319K
FY2022$296K
Net assets
$69K
FY2021▼ -60%
Tap a bar for its year
Net assets by fiscal year
FY2020$174K
FY2021$69K
FY2022$0

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $260K Management & general 18% · $59K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member & CFO
$0Pt VII · Sec A
See Homefront Fund 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
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Finds and funds innovative solutions for Austin's critical unmet needs, launching new programs and accelerating existing ones.

Questions for Homefront Fund

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Provided by the organization

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1 program · $260K · in their own filed words · FY2021
01

Community pods-provides student education to low-income families during the pandemic.

$260Kprogram 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 · FY2022
Total grants receivedfrom 1 funder$84K
Grants paid · 1 grant · $172K · 2022–2022
Graham FoundationTX · FY2022$171,712

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$164K
Ln 12
Gifts and grantsLn 1h$157K
Investment incomeLn 3$7K
Money outPt IX
$319K
Ln 25
Programscol B$260K
Managementcol C$59K
Owns and owesPt X
$69K
net assets · Ln 32
Cash and savingsLn 1–2$12K
Total assetsLn 16$361K
LiabilitiesLn 26$292K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$157K
Government grantsLn 1e$31K
Investment incomeLn 3$7K
Total revenueLn 12$164K
Assets in detailPt X, end of year
CashLn 1$12K
Cash and savings togetherLn 1–2$12K
InvestmentsLn 11–13$249K
Total assetsLn 16$361K
LiabilitiesLn 26$292K
Net assetsLn 32$69K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY21End FY21
Cash and savingsLn 1–2$38K$12K
InvestmentsLn 11–13$150K$249K
Total assetsLn 16$288K$361K
LiabilitiesLn 26$114K$292K
Net assetsLn 32$174K$69K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Management feesLn 11a$159K$109K$50K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$8K$2K$6K
Other fees for servicesLn 11g$129K$129K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$6K$6K$89
TravelLn 17$6K$6K
Conferences, conventions and meetingsLn 19$847$847
InterestLn 20$417$417
Other expenses (24a–d)Ln 24$1K$846$308
Total functional expensesLn 25$319K$260K$59K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $277K$296K−$20K$0 990 PDF
FY2021 Viewing $164K$319K−$155K$69K 990 PDF
FY2020 $590K$416K$174K$174K 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 FY2021 990 (6 parts)
Part I · Summary $163,791 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $589,396$157,366
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $840$7,026
I-11 Other revenuePrior year −$137−$601
I-12 Total revenuePrior year $590,099$163,791
I-13 Grants and similar amounts paidPrior year $1,625$2,500
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 $414,586$316,164
I-18 Total expensesPrior year $416,211$318,664
I-19 Revenue less expensesPrior year $173,888−$154,873
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $163,791 across 6 lines filed
VIII-1e Government grants$31,000
VIII-1f All other contributions, gifts and grants$126,366
VIII-1h Total contributions, gifts and grants$157,366
VIII-3 Investment incomeExcluded from tax $7,026$7,026
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$601−$601
VIII-12 Total revenueRelated to mission −$601 · Unrelated business $0 · Excluded from tax $7,026$163,791
Part IX · Statement of functional expenses $318,664 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $2,500$2,500
IX-11a Management feesPrograms $109,200 · Management $49,500$158,700
IX-11b Legal feesManagement $2,450$2,450
IX-11c Accounting feesPrograms $1,800 · Management $6,200$8,000
IX-11g Other fees for servicesPrograms $129,013$129,013
IX-12 Advertising and promotionPrograms $3,765$3,765
IX-13 Office expensesPrograms $5,525 · Management $89$5,614
IX-17 TravelPrograms $6,204$6,204
IX-19 Conferences, conventions and meetingsPrograms $847$847
IX-20 InterestPrograms $417$417
IX-24 Other expenses (24a–d)Programs $846 · Management $308$1,154
IX-25 Total functional expensesPrograms $260,117 · Management $58,547 · Fundraising $0$318,664
Part X · Balance sheet $360,788 assets, 8 lines filed
Asset lines not itemized here account for $100,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $38,394$11,663
X-12 Other securitiesStart of year $149,926$249,125
X-16 Total assetsStart of year $288,320$360,788
X-17 Accounts payable and accrued expensesStart of year $32,813$153,917
X-25 Other liabilitiesStart of year $81,619$132,746
X-26 Total liabilitiesStart of year $114,432$291,969
X-32 Total net assets or fund balancesStart of year $173,888$68,819
X-33 Total liabilities and net assetsStart of year $288,320$360,788
Part XI · Reconciliation of net assets $68,819 net assets at year end
XI-1 Total revenue$163,791
XI-2 Total expenses$318,664
XI-3 Revenue less expenses−$154,873
XI-4 Net assets at start of year$173,888
XI-8 Prior period adjustments$49,804
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$68,819

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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