Purpose:This study investigates protective factors against depressed mood among adults at risk for homelessness. We hypothesized that persons with higher levels of social capital, spiritual well-being, social support, income, and health insurance and non-veteran status will lower levels of depressive symptoms. Nature of the Problem:Adults at risk of homelessness are a vulnerable group for who identification of protective factors is important. Resiliency theory posits that persons exposed to risk factors may have reduced negative outcomes when protective mechanisms are present, and resilience research has found a positive relationship between spirituality, social support, and social capital, leading to positive outcomes. This theory was chosen for its consistency with the strengths-based social work perspective. Methods:This study is a secondary analysis of a cross-sectional survey of 500 from the Social Capital Survey (DeForge, Belcher et al. 2005) of persons who are at risk for homelessness;consumers of two church-based multi-service centers. Results: A hierarchical regression analysis was performed to predict mood status was as measured by the Center for Epidemiologic Study-Depression scale (CES-D). The regression showed higher levels of social capital, spiritual well-being, social support, and younger age was significantly associated with a decrease in CES-D score, indicating less depressed mood (Rē=.38).None of the personal characteristic-type protective factors was have a significant effect. Implications for Social Work : Spiritual well-being, a sense of personal value in society, and social support may serve as protective factors against depressed mood for persons at risk of homelessness, especially for younger adults. This study contributes to resiliency theory by adding to the evidence that adults, like children and adolescents, can benefit from social support as a protective mechanism. It also suggests that protective mechanisms of social capital and spirituality may be important in buffering those in this life stage from negative effects of stress in supporting mood. Social work practice with adults at risk for homelessness, then should include practice models and links to programs/resources which focus on personal resource building, such as providing experiences which enhance clients' perception of the value of their lives and spiritual and social connectedness. Implications for policy are: 1) community housing projects should be increased, especially for families with children; 2) resources for transitioning older teens, such as job training and educational loans; 3) after-school programs for youth/children (e.g., tutoring and mentoring). An implication for future research is to conduct more community-based research for this population.