Better Business Bureau Report for
Home Ownership Center - OLD

Better Business Bureau Report issued September 2009
Better Business Bureau Report expires September 2011


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Home Ownership Center - OLD
Address: 2820 Vernon Place
  Cincinnati, OH 45219
Phone: (513) 961-2800
Web Address: www.hometoday.cc
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Better Business Bureau Comments

Year, State Incorporated: 1973, Ohio
Affiliates: None
Stated Purpose: The mission of The Home Ownership Center is to strengthen communities through comprehensive home ownership strategies.

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Evaluation Conclusions

               

The Home Ownership Center of Greater Cincinnati, Inc. meets the 20Standards for Charity Accountability.
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BBB Accreditaiton

               

A BBB Accredited Charity since 03/22/2000.

BBB has determined that in addition to meeting BBB's 20 Standards for Charity Accountability, The Home Ownership Center of Greater Cincinnati, Inc. adheres to the BBB Code of Business Practices, which includes a commitment to make a good faith effort to resolve any complaints.  Charities that display the BBB Accredited Charity Seal pay a fee for review / monitoring and for support of BBB's services to the public. 

BBB accreditation does not mean that the charity's programs or services have been evaluated or endorsed by BBB or that BBB has made a determination as to the charity's competency in performing services.

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Programs

               

The Home Ownership Center promotes homeownership in the Greater Cincinnati area in hopes to facilitate rehabilitation of homes and regenerate deteriorating neighborhoods. The organization offers consulting and homebuyer training as well as home improvement classes with the emphasis on routine and preventative maintenance. The Financial Fitness Program helps individuals and families to set up a budget or a “spending plan” and repair their credit in order to buy a house. To help further individuals and families along the path to homeownership, the Home Ownership Center offers low-interest rate loans low-income individuals for either the purchase of a home or home improvement loans.

For the fiscal year ended December 31, 2008, The Home Ownership Center's program expenses were:

  
Program Services 1,122,218
Total Program Expenses: $1,122,218
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Governance

               

Chief Executive : Mr. Rick Williams, President & CEO
Compensation*:
 $125,673

Chair of the Board: Mr. John Smit
Chair's Profession / Business Affiliation: Vice President Division Lending Manager, Union Savings Bank

Board Size: 16

Paid Staff Size: 10

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

               

Method(s) Used:

grant proposals
Fundraising costs were 4% of related contributions. (Related contributions, which totaled $1,162,174, are donations received as a result of fundraising activities.)
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Tax Status

               

This charity 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 The Home Ownership Center's audited financial statements for the year ended December, 31 2008.

Source of Funds  
Grants 1,049,324
Other 253,142
Contributions 112,850
Interest Income 24,003
Total Income $1,439,319


chart



Uses of Funds as a % of Total Expenses

Programs: 82%  Fund Raising: 3%  Administrative: 15% 

Total income   $1,439,319
  Program expenses $1,122,218
  Fund raising expenses 41,057
  Administrative expenses 205,284
 
Total expenses   $1,368,559
Income in Excess of Expenses   70,760
Beginning net assets   2,177,375
Ending net assets   2,248,135
Total liabilities   2,023,111
Total assets   $4,271,246


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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