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Homestretch Nonprofit Housing Corporation

EIN 38-3337549 · Traverse City, MI

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak35 out of 100GovernanceStrong92 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO PROVIDE DECENT, AFFORDABLE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME. WE SHALL PROVIDE AND PRESERVE THE QUALITY AND AFFORDABILITY OF HOUSING FOR PRESENT AND FUTURE LOW TO MODERATE INCOME RESIDENTS OF THE COMMUNITY.

Income
$1.5 million
Spending
$1.0 million
Spent on programs
77%
Reserves
-71 months of spending
Largest source of income
government grants, 45%
Employees
7
Volunteers
13
Highest pay
$99,137, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 35 out of 100. Higher than 13% of charities in its peer group (housing, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    5 of 20

    It owes 62% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 32% of income.

  • Income trend

    0 of 15

    Income fell 51% on the year before.

  • Spending floor

    15 of 15

    77% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 92 out of 100. Higher than 55% of charities in its peer group (housing, $1m to $10m).

  • Independent board

    25 of 25

    14 of 14 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $794,958 spent. HOMESTRETCH NONPROFIT HOUSING CORPORATION WAS AWARDED A $50,000 GRANT FROM THE OFFICE OF RURAL PROSPERITY WHICH ENABLED THEM TO HIRE JESSE WOLFF FOR THE ROLE OF DIRECTOR OF REAL ESTATE DEVELOPMENT. THE ORGANIZATION PAID OFF THE DUPLEX/BOARDMAN LOAN AT THE END OF 2024, MET THE FUNDING THRESHOLD FOR BOTH CARVER AND FRANKFORT, AND BROKE GROUND FOR BOTH PROJECTS IN 2024. ADDITIONALLY, THE ORGANIZATION RECEIVED ZONING APPROVAL FOR CRYSTAL COMMONS, A 32-UNIT DEVELOPMENT IN THOMPSONVILLE. HOMESTRETCH NONPROFIT HOUSING CORPORATION RECEIVED A TAX CREDIT AWARD FOR ELK RAPIDS, FLATS ON BRIDGE IN THE AMOUNT OF $7.9 MILLION. THE ORGANIZATION CURRENTLY HAS 8 PROJECTS IN THE PIPELINE CONSISTING OF 67 UNITS IN TOTAL TO BE DEVELOPED.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since March 1998.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.