Homefree USA Inc
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
Homefree USA, Inc. was organized under the laws of the State of Maryland in 1994. HFUSA is non profit 501 (C) (3) organization. The organization specializes in homeownership development foreclosure intervention and financial empowerment. It empowers minorities and women to attain and/or maintain home ownership and financial stability, with a focus on providing the financial tools needed to facilitate wise and cautious decision making. The organization is one of the leaders in accessing untapped mainstream financial resources and delivering them to individuals, families and communities. Major programs include: Housing Counseling and moving low and moderate income families to owned and rental housing.
- Income
- $11.3 million
- Spending
- $11.0 million
- Spent on programs
- 64%
- Reserves
- -4.7 months of spending
- Largest source of income
- government grants, 80%
- Employees
- 52
- Volunteers
- 12
- Highest pay
- $374,328, president & ceo
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: 28 out of 100. Higher than 0% of charities in its peer group (philanthropy, $10m to $100m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
5 of 20It owes 74% of what it owns.
Living within its means
15 of 15Income exceeded spending by 2% of income.
Income trend
0 of 15Income fell 34% on the year before.
Spending floor
8 of 1564% of spending went to programs and raising each dollar of donations cost 5 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
Good: 70 out of 100. Higher than 6% of charities in its peer group (philanthropy, $10m to $100m).
Independent board
25 of 258 of 15 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, 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 (3)
- $3.4 million spent. Homeownership program: to develop within all people the knowledge skills and practices they need to be economically strong and successful homeowners. The program includes HUD housing assistance administered through the HFUSA network of Affiliate Organizations.
- $3.6 million spent. CFA program to provide counseling and career endeavoring services to college students attending HBCU's. The goal of the program is to train and prepare college students to major in all disciplines related to mortgage lending, real estate and property ownership and management. There are approximately 10 colleges participating in this program.
- N/A
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
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.
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 November 6, 2026.
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.
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.
How long has it been tax-exempt? Passed.
Recognized by the IRS since November 1994.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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 November 4, 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.