Operation Finally Home
Honoring Heroes with Homes
Operation Finally Home
EIN: 20-8964096
as of September 2023
as of September 18, 2023
Mission
Operation Finally Home provides homes and home modifications to America's military heroes, first responders and their families who have sacrificed so much in their service to country and community. We bring together corporate sponsors, builder associations, builders, remodelers, developers, individual contributors, and volunteers to help these Heroes and their families by addressing one of their most pressing needs – a home to call their own.
Ruling year
2010
President
Mr. Russell Carroll
Main address
1659 State Highway 46 West Suite 115-606
New Braunfels, TX 78132 USA
Formerly known as
BABA Support Our Troops
EIN
20-8964096
Housing development
Shelter and residential care
Population served
Families
Widows and widowers
Veterans
Emergency responders
NTEE code
Fund Raising and/or Fund Distribution (L12)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
Reports and documents
Download annual reports Download other documentsWhat we aim to solve
At Operation Finally Home we are working to provide stable and safe housing to those that have served us with a focus on wounded, ill and injured veterans, first responders and their families.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Single-Family Homes
Operation Finally Home provides custom-built, mortgage-free homes to wounded, ill and injured veterans, first responders and their families.
Home Modifications
Operation Finally Home provides home modifications to wounded, ill and injured veterans, first responders and their families.
Transitional Housing
Operation Finally Home provides transitional housing to wounded, ill and injured veterans, first responders and their families. Our mission, to date, has been fulfilled by working with high school and university construction trade programs to build the homes that are then provided to organizations that operate transitional housing communities.
Where we work
External reviews
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Total number of awarded residencies
This metric is no longer tracked.Totals By Year
Population(s) Served
Families, Veterans, Widows and widowers, Emergency responders
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
We provide mortgage-free homes and home modifications to wounded, ill and injured veterans, first responders and their families. The number of projects completed is the centerpiece of our mission.
Number of health outcomes improved
This metric is no longer tracked.Totals By Year
Population(s) Served
Families, Veterans, Emergency responders, Widows and widowers
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
The health of those we serve is improved when the financial burden of housing is removed. With security of a safe home provided, families are able to focus on other areas of healing.
Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Our organization is aiming to provide a strong foundation for our wounded, ill and injured veterans, first responders and their families to move forward with their lives. With the gift of a mortgage-free home, home modification or transitional housing the veteran, first responder and their families are able to remove a significant hurdle that they themselves would not have been able to do.
What are the organization's key strategies for making this happen?
Our strategy is to expand upon our successful and proven process of bringing the community together to provide these homes and modifications to our wounded, ill and injured veterans, first responders and their families. With processes in place and resources growing at an equal rate, we will be able to provide more housing opportunities. In addition, while staying true to our processes, culture and values, we will expand into complimentary areas such as multi-family development and in doing so, serve more veterans and first responders.
What are the organization's capabilities for doing this?
Operation Finally Home has a strong foundation of military, first responder, building and non-profit management experience that will allow us to grow efficiently and effectively. Having the right people in place coupled with sound business practices founded in faith and action has proven successful and we will continue with these efforts. In addition, continuing to partner with key individual, business, corporation and foundation partners will allow us to meet our goal.
What have they accomplished so far and what's next?
Operation Finally Home has over 430 projects that have been completed or are in planning since 2005. This growth is attributed to the strong organizational foundation coupled with sound and proven business practices and an American public that wants to honor those that have served us. We have established a team that follows and continuously improves upon the processes in place while staying true to our core beliefs and values. While we consider ourselves to be successful, we have not been able to grow as fast as we would like relative to the need, but we are moving positively in that direction. To meet the need, our fundraising efforts will need to increase to support the increase in infrastructure.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive
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What challenges does the organization face when collecting feedback?
It is difficult to get the people we serve to respond to requests for feedback, It is difficult to get honest feedback from the people we serve
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2022 info
3.03
Months of cash in 2022 info
0.6
Fringe rate in 2022 info
7%
Funding sources info
Assets & liabilities info
Financial data
Operation Finally Home
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of Operation Finally Home’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
| Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $2,753 | -$244,605 | $1,188,072 | $1,225,739 | -$554,452 |
| As % of expenses | 0.0% | -3.6% | 18.9% | 17.1% | -5.4% |
| Unrestricted surplus (deficit) after depreciation | -$16,189 | -$270,508 | $1,157,783 | $1,195,419 | -$588,297 |
| As % of expenses | -0.3% | -3.9% | 18.3% | 16.6% | -5.7% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $5,666,395 | $6,394,018 | $7,766,478 | $8,319,358 | $9,808,854 |
| Total revenue, % change over prior year | -22.0% | 12.8% | 21.5% | 7.1% | 17.9% |
| Program services revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.8% | 0.8% | 0.3% | 0.1% | 0.2% |
| Government grants | 2.2% | 2.6% | 3.6% | 7.3% | 4.5% |
| All other grants and contributions | 95.0% | 96.1% | 93.7% | 92.3% | 95.5% |
| Other revenue | 1.9% | 0.5% | 2.4% | 0.3% | -0.3% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $5,551,347 | $6,828,121 | $6,285,561 | $7,173,860 | $10,267,695 |
| Total expenses, % change over prior year | -19.4% | 23.0% | -7.9% | 14.1% | 43.1% |
| Personnel | 18.2% | 15.7% | 13.5% | 12.3% | 9.0% |
| Professional fees | 23.9% | 29.3% | 32.7% | 30.1% | 19.1% |
| Occupancy | 0.4% | 0.3% | 0.3% | 0.3% | 0.2% |
| Interest | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% |
| Pass-through | 46.3% | 45.0% | 43.9% | 46.1% | 60.4% |
| All other expenses | 11.1% | 9.7% | 9.5% | 11.2% | 11.2% |
| Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $5,570,289 | $6,854,024 | $6,315,850 | $7,204,180 | $10,301,540 |
| One month of savings | $462,612 | $569,010 | $523,797 | $597,822 | $855,641 |
| Debt principal payment | $6,388 | $0 | $0 | $236,912 | $0 |
| Fixed asset additions | $0 | $86,220 | $0 | $0 | $36,610 |
| Total full costs (estimated) | $6,039,289 | $7,509,254 | $6,839,647 | $8,038,914 | $11,193,791 |
Capital structure indicators
| Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Months of cash | 3.4 | 1.6 | 2.8 | 2.3 | 0.6 |
| Months of cash and investments | 7.3 | 5.3 | 7.9 | 9.2 | 5.8 |
| Months of estimated liquid unrestricted net assets | 7.1 | 5.3 | 8.2 | 9.1 | 5.7 |
| Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Cash | $1,578,500 | $887,157 | $1,463,122 | $1,368,916 | $541,986 |
| Investments | $1,801,984 | $2,143,428 | $2,682,105 | $4,156,131 | $4,403,039 |
| Receivables | $49,211 | $142,160 | $360,692 | $30,830 | $180,044 |
| Gross land, buildings, equipment (LBE) | $365,879 | $329,747 | $267,119 | $254,119 | $271,744 |
| Accumulated depreciation (as a % of LBE) | 68.8% | 47.1% | 46.3% | 60.6% | 62.2% |
| Liabilities (as a % of assets) | 21.8% | 18.8% | 18.6% | 17.1% | 25.7% |
| Unrestricted net assets | $3,399,322 | $3,128,814 | $4,286,597 | $5,482,016 | $4,893,719 |
| Temporarily restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Permanently restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Total restricted net assets | $0 | $0 | $0 | $0 | $0 |
| Total net assets | $3,399,322 | $3,128,814 | $4,286,597 | $5,482,016 | $4,893,719 |
Key data checks
| Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
President
Mr. Russell Carroll
Russell Carroll has served as President since June of 2013. Mr. Carroll along with the great team at Operation Finally Home, has experienced significant growth with over 430 projects completed or in planning in over 30 states.
Prior to Operation Finally Home, Mr. Carroll worked for LP Building Products, an international manufacturer of engineered-wood products used in single-family, multi-family and commercial applications. Mr. Carroll spent 20-years with LP Building Products serving in several leadership position's with his last role being Director of Corporate Marketing. In his role, Mr. Carroll was responsible for overall brand management for the corporation as well as providing marketing support to each of the companies core business segments which included the OSB Business, The SmartSide Business and the Engineered-Wood Business. Mr. Carroll also served as Vice-President of the LP Foundation which lead and executed the organizations philanthropic efforts.
Number of employees
Source: IRS Form 990
Operation Finally Home
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
Operation Finally Home
Highest paid employeesSOURCE: IRS Form 990
Compensation data
Operation Finally Home
Board of directorsas of 09/21/2023
Board of directors data
Mr. Dan Wallrath
Aaron Wallrath
Wallrath Custom Homes
Term: 2019 - 2025
Aaron Wallrath
Wallrath Custom Homes
Terry Collins
Dynamic Builders
Toni Collett
Hurricane Construction
Carol Wallrath
Champion Homes (retired)
Charles Arnold
Westbound Bank (Ret.)
Jerry Icenhower
US Army (Ret.)
Ken Smith
Luminant (Ret.)
Gary Henley
Henley Homes
Lana Henley
Henley Homes
Mike Bucchi
US Navy (Ret.)
Willie Williams
US Marines (Ret.)
Russell Carroll
Operation Finally Home
Dan Wallrath
Champion Homes
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 01/27/2022GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
Contractors
Fiscal year endingProfessional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G
Solicitation activities
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