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Top Rated

Homes For Our Troops

CharityWatch report issued
July 2018

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
87%
Program Percentage
Amount spent on programs
relative to overhead.
 
$8
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Homes For Our Troops
6 Main Street
Taunton, MA 02780

Other Names

None

Tax Status

501(c)3

Website

www.hfotusa.org

Stated Mission

To build and donate specially adapted custom homes nationwide for the most severely injured post-9/11 veterans, to enable them to rebuild their lives.

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Data based on Fiscal Year Ended 09/30/2017

Program Percentage: 87%

The percentage of Homes For Our Troops's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$23,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $8

How many dollars Homes For Our Troops spends on fundraising to raise each $100 of contributions.

$20,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Homes For Our Troops Audited Financial Statements 54-2143612
Homes For Our Troops IRS Form 990 54-2143612
Entity: Homes For Our Troops
Document Type: Audited Financial Statements
Tax ID: 54-2143612
Entity: Homes For Our Troops
Document Type: IRS Form 990
Tax ID: 54-2143612

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Homes For Our Troops
meets governance benchmarks.
 
Homes For Our Troops
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy No Sharing  

  Name Title Compensation
1 Timothy P. McHale Past President $165,380
1
Name: Timothy P. McHale
Title: Past President
Compensation: $165,380

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.
According to the Homes For Our Troops (HFOT) audit of September 30, 2017 (Note 7, Contributed Materials and Services):

HFOT reports receiving in-kind contributed materials and services on which it placed a total value of $23,409,282 in fiscal 2017. Of the total value, $19,053,000 consisted of in-kind public service announcements (PSAs), $3,761,642 consisted of in-kind building materials and construction services, and $594,640 consisted of in-kind professional services.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]
According to the Homes For Our Troops audit of September 30, 2017 (Note 8, Construction and Acquisition Costs for Veterans' Homes and Contractual Commitment to Transfer Homes to Veterans):

"Construction and acquisition costs for veterans' homes represents real estate acquisition and home construction costs of specifically adapted home projects.

"When acquiring land and constructing a new home, title and ownership of the property is retained by the Organization until such time the Organization transfers ownership to the veteran. Prior to transfer of ownership, costs incurred and donations of materials and services received by the Organization for these activities are recorded as an asset of the Organization...

"To the extent that all significant conditions of the contractual agreement between the Organization and the veteran have been met, a liability representing the contractual commitment to transfer the home to the veteran is established. Upon transfer of ownership, the full cost of the property and the corresponding contractual liability are both reduced to zero.

"As of September 30, 2017 and 2016, the Organization's estimated contractual obligations to fund the completion of current and future projects amounted to approximately $59,336,892 and $49,605,000, respectively. These contractual obligations will be required to be met between fiscal years 2017 and 2019."
According to the Homes For Our Troops (HFOT) tax filing for the fiscal year ended September 30, 2017, in response to the question of "whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year" (IRS Form 990, Part VI, Section C, line 19), HFOT reports:

"The Organization's financial statements are posted on its website and are also available via postal mail or e-mail upon request. The Organization does not make its governing documents or conflict of interest policy public" (IRS Form 990, Schedule O).

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