Homes for Heroes Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
C
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
67%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 67 cents are available for programs.
My anchor
OVERVIEW
About Homes for Heroes Foundation:
Homes for Heroes Foundation is a two-star, financially transparent charity with a below-average C results reporting grade. It has a reasonably sized reserve of cash and investments and 33% overhead spending. For every dollar donated, 67 cents are available to go to the cause.
Founded in 2017, Homes for Heroes Foundation (H4HF) builds and runs subsidized supportive housing for Canadian veterans in need. H4HF also provides one-on-one and group counselling for veterans living in its housing communities. The charity owns and operates self-described villages in three locations: Edmonton (20 homes), Calgary (15 homes), and Kingston (20 homes). According to the charity, each single-unit home is around 300 square feet, and the villages are designed to resemble military barracks.
H4HF’s main program is housing veterans. Charity Intelligence (Ci) estimates it spent $1.1m cash on this program in the December 2024 fiscal year. As well, the charity is in the process of building a new veterans village in Winnipeg. According to the charity, this project is in the pre-construction phase with construction planned to start in summer 2025. H4HF is also planning on building a village in London, Ontario, but has not disclosed any further details at the time of this profile update.
Homes for Heroes Foundation provides 20,075 nights of shelter each year across 55 units in its three villages. This means each village has a 100% occupancy rate (55 units × 365 days = 20,075 nights of shelter). The charity did not disclose the number of unique people housed in 2024 at the time of this profile update.
My anchor
Results and Impact
Since Homes for Heroes Foundation spent $2.3m cash on its operations and provided 20,075 nights of shelter, it spent an average of $117 / night of shelter in 2024.
Ci estimated the following breakdown of shelter bed nights by village based on occupancy rate and available units: 7,300 in Edmonton, 5,475 in Calgary, and 7,300 in Kingston.
The charity also reports an 87% program success rate but did not provide any further details on how it defines success.
While Ci highlights these key results, they may not fully represent H4HF’s results and impact.
Ci has not yet rated this H4HF on its demonstrated social impact per dollar spent (n/r). This does not affect its star rating.
My anchor
Finances
As of June 24, 2025, Homes for Heroes Foundation is now financially transparent. This means at least two years' worth audited financial statements are published on its website.
H4HF’s audited financial statements follow line-item costing, meaning it does not clearly separate its program, administrative, and fundraising costs. This is not a best practice.
In 2024, H4HF received $3.1m in donations (60% of total revenue), $1.5m in government funding (29% of revenue), and $259k worth of rental income (5% of revenue). Administrative costs are 11% of total revenue less investment income, and fundraising costs are 22% of donations. Its total 33% overhead spending means that for every dollar donated, 67 cents are available to go to the cause. This is just within Ci’s reasonable range.
H4HF spent $1.1m cash on its programs in 2024 ($1.0m spent in 2023). In 2023, it spent $6.9m on capital projects related to building its Kingston Village. This village opened in June 2024.
At the end of 2024, the charity had $1.9m worth of reserve funds (cash and investments). This can cover 173% or just under one year and nine months of its annual program spending.
Profile updated by Julian Dranitsaris on June 26, 2025. Comments and corrections may be forthcoming.
Questions? Contact jdranitsaris@charityintelligence.ca
Financial Review
Fiscal year ending December
|
2024 | 2023 | 2022 |
|---|---|---|---|
| Administrative costs as % of revenues | 11.0% | 6.7% | 3.1% |
| Fundraising costs as % of donations | 22.4% | 23.3% | 19.5% |
| Total overhead spending | 33.4% | 30.0% | 22.6% |
| Program cost coverage (%) | 172.6% | 182.2% | 509.5% |
Summary Financial StatementsAll figures in $000s |
2024 | 2023 | 2022 |
|---|---|---|---|
| Donations | 3,144 | 2,688 | 3,675 |
| Goods in kind | 245 | 1,078 | 1,696 |
| Government funding | 1,521 | 2,493 | 1,548 |
| Business activities (net) | 259 | 195 | 199 |
| Special events | 0 | 172 | 186 |
| Investment income | 53 | 148 | 50 |
| Other income | 0 | 0 | 140 |
| Total revenues | 5,222 | 6,774 | 7,496 |
| Program costs | 1,073 | 1,038 | 673 |
| Administrative costs | 569 | 440 | 229 |
| Fundraising costs | 705 | 667 | 753 |
| Total spending | 2,347 | 2,145 | 1,655 |
| Cash flow from operations | 2,875 | 4,629 | 5,841 |
| Capital spending | 2,049 | 6,897 | 2,317 |
| Funding reserves | 1,852 | 1,891 | 3,427 |
Note: 1. LINE-ITEM COSTING: Since H4HF follows line-item costing, Ci referred to its T3010 filings with the CRA to help report program, administrative, and fundraising costs. 2. AMORTIZATION: Ci included the value of amortization in non-cash expenses, affecting it by $951k in 2024, $479k in 2023, and $466k in 2022. Non-cash expenses do not appear directly on charity profiles. 3. CONSTRUCTION HOLDBACKS PAYABLE: Ci adjusted capital expenditures for changes in construction holdbacks payable. This affected capital spending by $704k in 2024, ($704k) in 2023, and ($nil) in 2022. 4. WAGES PAYABLE: Ci adjusted program costs for changes in wages payable. This affected total expenses by $18k in 2024, $5k in 2023, and ($10k) in 2022.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
1 |
$80k - $120k |
1 |
$40k - $80k |
7 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2024
My anchor
Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 403-452-0888