Better Business Bureau Report for
DuPage Homeownership Center, Inc.

Better Business Bureau Report issued April 2012
Better Business Bureau Report expires April 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: DuPage Homeownership Center, Inc.
Address: 1600 E. Roosevelt Rd
  Wheaton, IL 60187
Phone: 630-260-2500
Web Address: www.dhoc.org
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Better Business Bureau Comments

Year, State Incorporated: 1991, Illinois
Affiliates: None
Stated Purpose: Mission Statement: The DuPage Homeownership Center is a nonprofit organization that exists to increase accessibility and to preserve homeownership, with an emphasis on serving first-time homebuyers and low- and moderate-income persons.

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Evaluation Conclusions

              

DuPage Homeownership Center, Inc. meets the 20 Standards for Charity Accountability.
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Programs

              

DHOC is a nonprofit housing counseling agency serving DuPage County. They are certified by the U.S. Department of Housing and Urban Development and offer the following services: Free Home Buyer Education Classes: Group workshops to help first-time home buyers become educated consumers and responsible homeowners. Free Prepurchase Couseling with Financial Literacy Training: Individual sessions to help first-time buyers improve their financial management skills in order to qualify for mainstream mortgage products, avoid predatory lenders, and become responsible homeowners. Free Home Buyers Fair: Annual outreach event, held in cooperation with DuPage County's Department of Community Services, to help buyers (particularly traditionally underserved populations) get on the path to successful homeownership by obtaining consumer information on programs and services, including fair housing services. Free Foreclosure Prevention: Confidential counseling to help DuPage County homeowners in financial crisis prevent foreclosure. Help for Low-Income Buyers - The DuPage Homestead Program: Special mortgage financing plan at reduced interest charges to help low-income families who are being priced out of the DuPage housing market. HOPE for Seniors Program: Free counseling on reverse mortgages and other programs to help cash-strapped senior homeowners to better manage their assets and find solutions to enable them to stay in their homes and remain independent.

For the fiscal year ended April 30, 2011, DuPage Homeownership Center, Inc.'s program expenses were:

  
Salaries 271,914
Insurance 39,941
Facilities expense 29,608
Payroll taxes 23,687
Consumable office and equipment 16,169
Retirement contribution 7,747
Credit reports 6,355
Miscellaneous 4,481
Event expense 3,883
Professional fees 3,525
Printing and publications 2,150
Total Program Expenses: $409,460
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Governance

              

Chief Executive : Debra Olson, Executive Director
Compensation*:
$3,083

Chair of the Board: Paul Colgan
Chair's Profession / Business Affiliation: Builder/Developer

Co-Chair of the Board : Doug Hardy

Chair's Profession / Business Affiliation: Attorney

Co-Chair of the Board : N/A

Chair's Profession / Business Affiliation: N/A

Board Size: 15

Paid Staff Size: 8

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, grant proposals, membership
Fund raising costs were 21% of related contributions. (Related contributions, which totaled $40,520, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on DuPage Homeownership Center, Inc.'s audited financial statements for the fiscal year ended April 30, 2011.

Source of Funds  
Grant and contract income 374,848
Membership dues 58,000
Donations and sponsorship 40,520
Investment income 6,707
Cost reimbursements 2,526
Interest income 1,274
Total Income $483,875


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Uses of Funds as a % of Total Expenses

Programs: 91%  Fund Raising: 2%  Administrative: 7% 

Total income   $483,875
  Program expenses $409,460
  Fund raising expenses 8,449
  Administrative expenses 33,494
 
Total expenses   $451,403
Income in Excess of Expenses   32,472
Beginning net assets   301,100
Other Changes in Net Assets (30,050)
Ending net assets   333,572
Total liabilities   6,641
Total assets   $340,213


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