HOMESIGHT: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- HOMESIGHT (EIN 94-3117253)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-13
- IRS object ID
- 202443189349308524
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule I
- Schedule J
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-13T15:37:32-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 911566381 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINNEY NEILL & COMPANY PS | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9757 GREENWOOD AVE N | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98103 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 943117253 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOMESIGHT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HOME | BusinessNameControlTxt |
| Phone | 2067604227 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5117 RAINIER AVE S | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98118 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DARRYL SMITH | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 2067604227 | PhoneNum |
| Signature | 2024-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOSHUA J BREILING CPA | PreparerPersonNm |
| PTIN | P01286663 | PTIN |
| Phone | 2062989811 | PhoneNum |
| Preparation | 2024-11-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DARRYL SMITH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5117 RAINIER AVE S | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98118 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,544,080 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HOMESIGHTWA.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1990 | FormationYr |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Activity Or Mission | PROMOTING SOCIAL AND ECONOMIC EQUITY TO PRESERVE AND ENHANCE ECONOMICALLY AND CULTURALLY DIVERSE COMMUNITIES THROUGH AFFORDABLE HOMEOWNERSHIP, BUSINESS DEVELOPMENT, AND COMMUNITY ADVOCACY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 42 | TotalEmployeeCnt |
| Total Volunteers | 17 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $6,201,573 | PYContributionsGrantsAmt |
| CY Contributions Grants | $5,231,759 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,463,054 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,075,619 | CYProgramServiceRevenueAmt |
| PY Investment Income | $20,690 | PYInvestmentIncomeAmt |
| CY Investment Income | $89,483 | CYInvestmentIncomeAmt |
| PY Other Revenue | $296,341 | PYOtherRevenueAmt |
| CY Other Revenue | $147,219 | CYOtherRevenueAmt |
| PY Total Revenue | $8,981,658 | PYTotalRevenueAmt |
| CY Total Revenue | $7,544,080 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,445,736 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $698,015 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $3,216,436 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,684,709 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $203,067 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,322,219 | PYOtherExpensesAmt |
| CY Other Expenses | $1,632,036 | CYOtherExpensesAmt |
| PY Total Expenses | $7,984,391 | PYTotalExpensesAmt |
| CY Total Expenses | $6,014,760 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $997,267 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,529,320 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $62,310,741 | TotalAssetsBOYAmt |
| Total Assets EOY | $66,454,602 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $11,473,862 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $14,088,403 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $50,836,879 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $52,366,199 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | HOMESIGHT CREATES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES THROUGH ITS HOMEBUYER EDUCATION AND LENDING, AND REAL ESTATE DEVELOPMENT PROGRAMS. THESE PROGRAMS PRIMARILY SERVE LOW AND MODERATE INCOME, FIRST-TIME HOMEBUYERS IN SEATTLE, KING, PIERCE, AND SNOHOMISH COUNTIES. HOMESIGHT IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, CERTIFIED BY THE US DEPARTMENT OF TREASURY, AND IS A WASHINGTON STATE LICENSED CONSUMER LOAN COMPANY | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $552,171 | ExpenseAmt |
| Revenue | $10,500 | RevenueAmt |
| Desc | REAL ESTATE DEVELOPMENT: PART OF HOMESIGHT'S STRATEGY IS TO USE AFFORDABLE COMMERCIAL AND RESIDENTIAL REAL ESTATE DEVELOPMENT TO STIMULATE ECONOMIC GROWTH IN COMMUNITIES WHERE EQUITABLE INVESTMENT IS LAGGING AND BUILD HOUSEHOLD ASSETS FOR LOW INCOME AND FIRST-TIME HOME BUYERS. HOMESIGHT REAL ESTATE DEVELOPMENT ALSO PROVIDES PROJECT MANAGEMENT SERVICES TO COMMUNITY NONPROFIT ORGANIZATIONS TO ASSIST IN COMMUNITY DEVELOPMENT AND NEIGHBORHOOD REVITALIZATION ACTIVITIES. HOMESIGHT WAS THE LEAD DEVELOPER AND PROJECT MANAGER FOR THE TRANSIT- ORIENTED DEVELOPMENT OF OTHELLO SQUARE (FORMERLY THE SOUTHEAST ECONOMIC OPPORTUNITY CENTER (SEOC)) IN SEATTLE. HOMESIGHT COMPLETED THE FEASIBILITY AND IMPLEMENTATION PLAN FOR THE PROJECT IN 2017. THE GOALS OF THIS 215M PROJECT ARE TO PREVENT DISPLACEMENT OF THE HISTORIC RESIDENTS AND BUSINESSES IN THE OTHELLO NEIGHBORHOOD, TO CELEBRATE AND EMBRACE THE HERITAGE OF THE DIFFERENT CULTURES THAT COMPRISE THE SOUTHEAST SEATTLE COMMUNITY, AND TO PROVIDE TOOLS AND OPPORTUNITIES TO GUARANTEE THE LONG-TERM HEALTH AND SUCCESS OF THE ENTIRE COMMUNITY. WITH THE ASSISTANCE OF SEVERAL COMMUNITY-LED COALITIONS ACTIVELY INVOLVED IN EQUITABLE DEVELOPMENT IN SOUTHEAST SEATTLE, HOMESIGHT HAS BEEN LEADING A DEDICATED AND ROBUST COMMUNITY ENGAGEMENT PROCESS THROUGHOUT THE PROGRAM PLANNING TO ENSURE THAT THE OTHELLO SQUARE BEST MEETS THE NEEDS AND VISION OF THE COMMUNITY. HOMESIGHT SIGNED ALL FOUR PURCHASE AND SALE AGREEMENTS (PSAS) ON THE PROPERTIES IN 2018 FOR THE OTHELLO SQUARE PROJECT WITH THE SEATTLE HOUSING AUTHORITY (SHA). HOMESIGHT ALSO ENTERED INTO ASSIGNMENT AGREEMENTS FOR TWO OF THE PROPERTIES TO BE OWNED AND DEVELOPED AS PART OF THE PROJECT BY TWO LOCAL ORGANIZATIONS. THE ODESSA BROWN CHILDREN'S CLINIC, TINY TOTS OTHELLO SQUARE AND ORENDA APARTMENTS BUILDING BROKE GROUND IN NOVEMBER 2019 AND THE SALISH SEA ELEMENTARY SCHOOL BROKE GROUND IN JULY 2020. BOTH BUILDINGS ARE NOW OPEN AND OPERATING. IN 2021, HOMESIGHT ASSIGNED THE PSA FOR THE 3RD PROPERTY TO COMMUNITY ROOTS HOUSING, A LOCAL AFFORDABLE HOUSING DEVELOPER AND PROVIDER OF AFFORDABLE RENTAL UNITS. THEY WILL DEVELOP THIS PROPERTY AND OWN AND MANAGE THE AFFORDABLE RENTAL UNITS IT WILL CONTAIN. THE BUILDING WILL BE CALLED THE OPPORTUNITY CENTER @ OTHELLO SQUARE AND COMPLETION IS TENTATIVELY SCHEDULED FOR 2028. HOMESIGHT WILL PURCHASE AND BUILD OUT THE 1ST FLOOR AS COMMUNITY-SERVING COMMERCIAL SPACES THAT WILL BE SOLD TO LOCAL COMMUNITY SERVING ORGANIZATIONS. HOMESIGHT WILL RELOCATE ITS OFFICES TO THE OPPORTUNITY CENTER. THE PROPERTY PURCHASE FOR THE 4TH PSA WILL BE FINALIZED ONCE ALL CLOSING CONDITIONS ARE MET. HOMESIGHT IS DEVELOPING A LOW-INCOME LIMITED EQUITY HOUSING COOPERATIVE ON THE 4TH REMAINING PROPERTY CALLED ?L?X? (U-LEX, PRONOUNCED "OH-LEW") @ OTHELLO SQUARE. THE PROJECT IS APPLYING FOR FHA-INSURED CONSTRUCTION FINANCING AND HAS EQUITY FROM LOCAL, STATE AND FEDERAL SOURCES ALREADY SECURED. THIS PROJECT IS FULLY PERMITTED AND ENTITLED AND IS SCHEDULED FOR COMPLETION IN 2026. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,277,926 | ExpenseAmt |
| Revenue | $1,708,268 | RevenueAmt |
| Desc | HOMEBUYER SERVICES & LENDING: HOMESIGHT'S HOMEBUYER EDUCATION AND COUNSELING PROGRAMS SERVE NEARLY 350 HOUSEHOLDS ANNUALLY, INCLUDING NEW AND EXISTING CUSTOMERS. IN 2023 AND 2022, OF THESE CUSTOMERS, 85% AND 64% RESPECTIVELY, WERE AT OR BELOW 80% PERCENT OF THE AREA MEDIAN INCOME. HOMESIGHT'S MISSION IS TO SERVE PRIMARILY LOW- AND MODERATE-INCOME FAMILIES WISHING TO PURCHASE THEIR FIRST HOME, BUT AS A HUD-CERTIFIED HOUSING COUNSELING AGENCY, IT CANNOT DISCRIMINATE BASED ON INCOME. ITS HOMEBUYER PROGRAM CONSISTS OF ONE-ON-ONE COUNSELING, AND NO-COST CLASSES ON ACHIEVING THE DREAM OF HOMEOWNERSHIP, OR AN ONLINE BUYER EDUCATION CURRICULUM FOR A NOMINAL FEE. -- HOMESIGHT DEVELOPED ITS REVOLVING LOAN FUND IN 1991 TO ADDRESS THE GROWING GAP BETWEEN FAMILY INCOMES AND HOME PRICES. IT OFFERS PURCHASE ASSISTANCE LOANS FUNDED BY PUBLIC AND PRIVATE INVESTMENTS TO PACKAGE HIGHLY COMPETITIVE AMORTIZING OR DEFERRED SECOND LOANS AND DEFERRED THIRD LOANS FOR LOW- AND MODERATE-INCOME HOMEBUYERS. THIS STRUCTURE ALLOWS HOMESIGHT TO MINIMIZE OR ELIMINATE THE REQUIREMENT FOR FHA OR PRIVATE MORTGAGE INSURANCE FOR ITS CUSTOMERS THEREBY INCREASING THE BUYING POWER OF LOW- AND MODERATE-INCOME FIRST-TIME HOMEBUYERS. -- HOMESIGHT IS A "CORRESPONDENT" 1ST MORTGAGE LENDER TO THE WASHINGTON STATE HOUSING FINANCE COMMISSION, A LOCAL COMMUNITY BANK, AND A NEIGHBORWORKS AMERICA PARTNER. IN 2023 AND 2022, HOMESIGHT ORIGINATED OVER 16.7 MILLION AND 18.5 MILLION IN 1ST MORTGAGE LOANS WITH ITS CAPITAL PRIMARILY FOR SUBSEQUENT SALE TO THESE LENDERS. THROUGH THESE CHANNELS HOMESIGHT PROVIDES QUALITY, LOW-INTEREST DOWN-PAYMENT OPTIONS AND MORE FLEXIBLE CASE-BY-CASE UNDERWRITING THAT ALLOWS MANY MORTGAGE-ELIGIBLE CUSTOMERS TO ACCESS CREDIT THAT WOULD NOT BE AVAILABLE TO THEM OTHERWISE. IN 2020, HOMESIGHT WAS APPROVED BY THE US DEPARTMENT OF TREASURY - CDFI FUND TO EXPAND THE TARGET MARKET TO AFRICAN AMERICANS (AA) IN KING, PIERCE, AND SNOHOMISH COUNTIES. SINCE THIS ADDITION, HOMESIGHT HAS FOUGHT AGAINST REDLINING AND GENTRIFICATION OF AA'S IN THE SEATTLE AREA BY INTRODUCING LENDING PROGRAMS SUCH AS THE SAM SMITH HI NEIGHBOR HOMEOWNERSHIP FUND (SSHNHF) AND THE SOCIAL JUSTICE (SJ) DPA PROGRAM. THE SSHNHF HELPS AA'S BETWEEN 80-120% AREA MEDIAN INCOME, PURCHASE HOMES ACROSS WASHINGTON STATE BY OFFERING DOWN PAYMENT ASSISTANCE UP TO 20,000 AT 3% DEFERRED FOR 30 YEARS. HOMESIGHT HAS PARTNERED WITH WINDERMERE, US BANK, AND NAREB TO PIONEER THIS INNOVATIVE PROGRAM. AS HOUSING PRICES CONTINUE TO SKYROCKET AND INTEREST RATES CREEP UP, HOMESIGHT HAS MADE IT A MISSION TO SUPPORT BIPOC COMMUNITIES. HOMESIGHT IS SUPPORTING BIPOC FIRST TIME HOME BUYERS BY OFFERING THE SOCIAL JUSTICE DPA PROGRAM. THE PROGRAM INCLUDES 10,000 DEFERRED DOWN PAYMENT ASSISTANCE AT 0% FOR 30 YEARS. THE 3 MILLION SJ DPA FUND WILL HELP 300 BIPOC FAMILIES PURCHASE HOMES IN WASHINGTON STATE. IN 2021, HOMESIGHT LAUNCHED A COUPLE OF DIFFERENT MORTGAGE LOANS PROGRAMS TO FURTHER SUPPORT BIPOC COMMUNITIES. HOMESIGHT NOW OFFERS A VISTA (ITIN) LOAN PROGRAM AND A SHARIA COMPLIANT LOAN PROGRAM. THE VISTA LOAN IS AIMED AT HELPING THOSE WITHOUT TRADITIONAL SOCIAL SECURITY NUMBERS PURCHASE HOMES. THE VISTA LOAN PROGRAM ONLY REQUIRES A 5% DOWN PAYMENT BY THE BORROWER. THIS IS MUCH FRIENDLIER THAN THE OTHER ITIN PROGRAMS AROUND WHICH REQUIRE 10-30% DOWN. HOMESIGHT WAS ALSO APPROVED BY THE WASHINGTON STATE HOUSING FINANCE COMMISSION TO FUND AND SELL SHARIA COMPLIANT FIRST MORTGAGES. THERE IS A LARGE ISLAMIC POPULATION IN SEATTLE THAT NEED SUPPORT IN PURCHASING FIRST HOMES. HOMESIGHT WAS EXCLUSIVELY APPROVED BY THE WSHFC TO OFFER THESE LOANS. HOMESIGHT PARTNERED WITH IJARA CDC TO OFFER THIS INNOVATIVE, INTEREST FREE AND SHARIA COMPLIANT LOANS. TOGETHER WITH OUR PARTNERS WE HOPE TO MAKE A DIFFERENCE FOR FIRST-TIME HOMEBUYERS IN THIS EVER-CHALLENGING HOUSING MARKET IN WASHINGTON STATE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,365,578 | ExpenseAmt |
| Grant | $698,015 | GrantAmt |
| Revenue | $356,851 | RevenueAmt |
| Desc | COMMUNITY DEVELOPMENT: WITH A HISTORY OF CROSS-SECTOR COLLABORATION, EXPERTISE IN POLICY AND ADVOCACY, AND A TRACK RECORD OF EQUITABLE DEVELOPMENT, HOMESIGHT IS RECOGNIZED AS A CATALYTIC COMMUNITY LEADER. FOR OVER 30 YEARS, HOMESIGHT HAS FACILITATED BEAUTIFICATION AND INFRASTRUCTURE IMPROVEMENT PROJECTS, MANAGED THE DEVELOPMENT OF CULTURAL CENTERS, SUPPORTED LOCAL BUSINESS ORGANIZATIONS, AND LED COALITIONS PROMOTING EQUITABLE GROWTH IN SOUTHEAST SEATTLE, THE CITY'S MOST RACIALLY AND ETHNICALLY DIVERSE COMMUNITY. HOMESIGHT ESTABLISHED THREE COMMUNITY DEVELOPMENT ACTIVITIES IN 2023: 1) ESSENTIAL SOUTHEAST SEATTLE COOPERATIVE (ESES). AT THE START OF THE COVID- 19 PANDEMIC, THIS PROGRAM WAS DEVELOPED TO PROVIDE AN ONLINE DIRECTORY OF SMALL, INDEPENDENTLY OWNED BUSINESSES LOCATED IN SOUTHEAST SEATTLE THAT WERE OPEN FOR BUSINESS AND DEEMED ESSENTIAL BY WASHINGTON STATE. AS THE PANDEMIC PROGRESSED AND THE NEED BECAME APPARENT, ESES WAS TRANSFORMED INTO AN ONLINE MARKETPLACE REPRESENTING OVER 2,000 BUSINESSES AND SERVING MORE THAN 30,000 CONSUMERS. IN ADDITION TO THE ONLINE MARKETPLACE ESES COLLECTIVE DESIGNED AND IMPLEMENTED A DIGITAL ACCESS AND EDUCATION PROGRAM TO COACH SMALL BIPOC OWNED BUSINESSES TO BE MORE COMPETITIVE IN THE DIGITAL MARKETPLACE; 2) NONPROFIT DELIVERY APP - POST COVID 19 PANDEMIC HAS INSTIGATED CONSUMER BEHAVIORAL CHANGE OF ON-DEMAND FOOD DELIVERY. EXISTING DELIVERY OPTIONS ARE FINANCIALLY UNSUSTAINABLE FOR BUSINESS OWNERS AND DRIVERS AND OFFER LOW ATTENTION TO UNIQUE BIPOC NEEDS. AN ALTERNATIVE DELIVERY OPTION WILL CAPTURE MARKET DEMANDS AND SERVE DESIRED NEEDS TO LOCAL ECOSYSTEM. A HYPER LOCAL DELIVERY APP WITH REDUCED COMMISSION, HIGHER DRIVER PAYOUT AND CURATED RESOURCES IS THE SOLUTION WE ARE SEEKING. 3) READY TO WORK (RTW) - RTW IS A PARTNERSHIP WITH COMMUNITY-BASED ORGANIZATIONS AND AN ADULT BASIC EDUCATION COMMUNITY-BASED PROVIDING ESL COURSES AND JOB TRAINING AND PLACEMENT IN SOUTHEAST SEATTLE. THE RTW PARTNERSHIP, IS NOW MERGING WITH TWO OTHER BASIC EDUCATION PROGRAMS IN NORTH AND WEST SEATTLE, WHERE HOMESIGHT WILL CONTINUE TO SERVE AS THE LEAD AGENCY PROVIDING ADMINISTRATIVE SUPPORT. THE PARTNERS ARE ADDING NEW PATHWAYS TO THE PROGRAM SUCH AS THE CHILDCARE COBORT THROUGH THE IMAGINE INSTITUTE. IT HAS PROVEN SUCCESSFUL WITH 100% GRADUATION RATE AND 85% EMPLOYMENT. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $4,195,675 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 315 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 42 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | WA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TAMMIE ANDERS | PersonNm |
| Phone | 2067604227 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5117 RAINIER AVE S | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98118 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| DARRYL SMITH | ||||||||
| EXECUTIVE DI | 40.00 | Yes (X) | $190,546 | $0 | $21,503 | |||
| TAMMIE ANDERS | ||||||||
| DIRECTOR OF | 40.00 | $137,079 | $0 | $14,298 | Yes (X) | |||
| JOE THOMAS | ||||||||
| HR DIRECTOR | 40.00 | $132,361 | $0 | $15,903 | Yes (X) | |||
| SEKAI SENWOSRET | ||||||||
| RD DIRECTOR | 40.00 | $129,754 | $0 | $15,119 | Yes (X) | |||
| PAMELA MAYO | ||||||||
| ACCT CONSULT | 40.00 | $121,554 | $0 | $800 | Yes (X) | |||
| SCOTT KIM | ||||||||
| DIRECTOR OF | 40.00 | $118,927 | $0 | $11,675 | Yes (X) | |||
| TERRY MILLER | ||||||||
| PRESIDENT | 2.00 | Yes (X) | $0 | $0 | $0 | 0.50 | Yes (X) | |
| FRANCINE JOHNSON | ||||||||
| VICE PRESIDE | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| TALYA MILLER | ||||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | 0.50 | Yes (X) | |
| HERMAN TAM | ||||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | 0.50 | Yes (X) | |
| CRISTINA ALVAREZ RUIZ | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| RHONDA SMITH-BANCHERO | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| NICOLE BASCOMB-GREEN | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| REBECCA BRYANT | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| JUAN COTTO | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| KATRINA FREEBURG | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| NIKITA MATHIS | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| NADINE MORGAN | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| JONATHAN PEREZ | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| ANNA PORKALOB | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| MICKEY ROSS | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| JAY SUENO | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | Yes (X) | |||
| STEVE WILLIAMS | ||||||||
| BOARD MEMBER | 1.00 | $0 | $0 | $0 | 0.50 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $830,221 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $79,298 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JING DAI | |||||
| 331 N 71ST | SEATTLE | WA | 98103 | CONSULTING | $125,000 |
| INDIGO ENTERPRISES LLC | |||||
| 26828 MAPLE VLY HWY 308 | MAPLE VALLEY | WA | 98038 | CONTRACTING | $102,712 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $4,285,713 | GovernmentGrantsAmt |
| All Other Contributions | $946,046 | AllOtherContributionsAmt |
| Total Contributions | $5,231,759 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST INCOME | 522292 | $1,239,732 | $1,239,732 |
| LOAN & HOMEBUYER SVCS FEES | 522292 | $450,431 | $450,431 |
| FISCAL AGENT FEES | 561000 | $356,851 | $356,851 |
| RECOVERY OF BAD DEBT | 531390 | $18,105 | $18,105 |
| DEVELOPER FEES | 522292 | $10,500 | $10,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,075,619 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $89,483 | TotalRevenueColumnAmt |
| Exclusion | $89,483 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| REFUNDS & REIMBURSEMENTS | 522292 | $89,321 | $89,321 |
| DEVELOPMENT CONSULTING | 522292 | $45,413 | $45,413 |
| MISCELLANEOUS INCOME | 999999 | $12,485 | $12,485 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $147,219 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,544,080 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,075,619 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $236,702 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $698,015 | TotalAmt |
| Program Services | $698,015 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $200,000 | TotalAmt |
| Program Services | $159,231 | ProgramServicesAmt |
| Management And General | $40,769 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,793,619 | TotalAmt |
| Program Services | $1,651,832 | ProgramServicesAmt |
| Management And General | $978,304 | ManagementAndGeneralAmt |
| Fundraising | $163,483 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,816 | TotalAmt |
| Program Services | $22,435 | ProgramServicesAmt |
| Management And General | $10,560 | ManagementAndGeneralAmt |
| Fundraising | $821 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $369,649 | TotalAmt |
| Program Services | $245,033 | ProgramServicesAmt |
| Management And General | $104,314 | ManagementAndGeneralAmt |
| Fundraising | $20,302 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $287,625 | TotalAmt |
| Program Services | $178,623 | ProgramServicesAmt |
| Management And General | $93,292 | ManagementAndGeneralAmt |
| Fundraising | $15,710 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,269 | TotalAmt |
| Program Services | $80,698 | ProgramServicesAmt |
| Management And General | $11,571 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,587 | TotalAmt |
| Program Services | $38,539 | ProgramServicesAmt |
| Management And General | $15,048 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $387,787 | TotalAmt |
| Program Services | $363,331 | ProgramServicesAmt |
| Management And General | $23,815 | ManagementAndGeneralAmt |
| Fundraising | $641 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,919 | TotalAmt |
| Program Services | $9,991 | ProgramServicesAmt |
| Management And General | $26,281 | ManagementAndGeneralAmt |
| Fundraising | $647 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,187 | TotalAmt |
| Program Services | $103,005 | ProgramServicesAmt |
| Management And General | $33,565 | ManagementAndGeneralAmt |
| Fundraising | $617 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $210,558 | TotalAmt |
| Program Services | $160,088 | ProgramServicesAmt |
| Management And General | $50,470 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,504 | TotalAmt |
| Program Services | $9,936 | ProgramServicesAmt |
| Management And General | $7,568 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,683 | TotalAmt |
| Program Services | $15,911 | ProgramServicesAmt |
| Management And General | $14,772 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $132,162 | TotalAmt |
| Program Services | $130,484 | ProgramServicesAmt |
| Management And General | $1,461 | ManagementAndGeneralAmt |
| Fundraising | $217 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,806 | TotalAmt |
| Program Services | $16,742 | ProgramServicesAmt |
| Management And General | $5,064 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,141 | TotalAmt |
| Program Services | $10,972 | ProgramServicesAmt |
| Management And General | $4,169 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Management And GeneralManagementAndGeneralAmt | Program ServicesProgramServicesAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| BAD DEBT EXPENSE | $168,553 | $168,553 | ||
| LENDING COSTS | $132,697 | $132,697 | ||
| PROGRAM COSTS | $67,947 | $915 | $66,620 | $412 |
| STAFF TRAINING | $58,999 | $22,970 | $36,029 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,237 | TotalAmt |
| Program Services | $65,463 | ProgramServicesAmt |
| Management And General | $2,557 | ManagementAndGeneralAmt |
| Fundraising | $217 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,014,760 | TotalAmt |
| Program Services | $4,195,675 | ProgramServicesAmt |
| Management And General | $1,616,018 | ManagementAndGeneralAmt |
| Fundraising | $203,067 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,230,342 | BOYAmt |
| EOY | $3,703,478 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,041,891 | BOYAmt |
| EOY | $11,411,160 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $511,942 | BOYAmt |
| EOY | $328,177 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $128,403 | BOYAmt |
| EOY | $458,495 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,974 | BOYAmt |
| EOY | $104,974 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,305 | BOYAmt |
| EOY | $28,015 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $984,594 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $723,434 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $282,966 | BOYAmt |
| EOY | $261,160 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,600 | BOYAmt |
| EOY | $37,400 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,620,431 | BOYAmt |
| EOY | $37,038,750 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,291,887 | BOYAmt |
| EOY | $13,082,993 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,310,741 | BOYAmt |
| EOY | $66,454,602 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $487,814 | BOYAmt |
| EOY | $393,567 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,098,916 | BOYAmt |
| EOY | $7,631,588 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,355 | BOYAmt |
| EOY | $64,855 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,590,167 | BOYAmt |
| EOY | $5,711,005 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $233,610 | BOYAmt |
| EOY | $287,388 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,473,862 | BOYAmt |
| EOY | $14,088,403 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,033,019 | BOYAmt |
| EOY | $26,870,370 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,803,860 | BOYAmt |
| EOY | $25,495,829 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,836,879 | BOYAmt |
| EOY | $52,366,199 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,310,741 | BOYAmt |
| EOY | $66,454,602 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,529,320 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,047,161 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,658,041 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,828,014 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,201,573 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,231,759 | CurrentTaxYearAmt |
| Total | $28,966,548 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,047,161 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,658,041 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,828,014 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,201,573 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,231,759 | CurrentTaxYearAmt |
| Total | $28,966,548 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $1,096,711 | SubstantialContributorsTotAmt |
| Public Support Total170 | $27,869,837 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $64,464 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $19,172 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $10,778 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $20,690 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $89,483 | CurrentTaxYearAmt |
| Total | $204,587 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $146,219 | CurrentTaxYearAmt |
| Total | $146,219 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $29,317,354 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $13,195,066 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.95060 | PublicSupportCY170Pct |
| Public Support PY170 | 0.95360 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, LINE 10 | FormAndLineReferenceDesc |
| Explanation | OTHER NON-INVESTMENT EXEMPT INCOME 0 | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $105,000 | OtherCostOrOtherBasisAmt |
| Book Value | $105,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $583,460 | OtherCostOrOtherBasisAmt |
| Depreciation | $439,180 | DepreciationAmt |
| Book Value | $144,280 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $296,134 | OtherCostOrOtherBasisAmt |
| Depreciation | $284,254 | DepreciationAmt |
| Book Value | $11,880 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $261,160 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | HOMEBUYER LOANS RECEIVABLE | Desc |
| Book Value | $37,038,750 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $37,038,750 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| PROJECT CONSTRUCTION COSTS | $6,668,835 |
| LOAN INTEREST RECEIVABLE | $2,813,929 |
| DUE FROM HSCD | $2,176,567 |
| LOANS AVAILABLE FOR SALE | $1,278,200 |
| RIGHT OF USE ASSETS | $145,462 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $13,082,993 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| LEASE LIABILITY | $149,072 |
| INTEREST PAYABLE | $123,573 |
| OTHER LIABILITIES | $14,743 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $287,388 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $7,544,080 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $7,544,080 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $7,544,080 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,014,760 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $6,014,760 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $6,014,760 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 2, PART IV, LINE 2B | HOMESIGHT ACTS AS FISCAL AGENT FOR SEVERAL LOCAL ORGANIZATIONS ON AN ONGOING BASIS. |
| SCHEDULE D, PAGE 3, PART X | HOMESIGHT ACCOUNTS FOR TAX POSITIONS IN ACCORDANCE WITH THE RECOGNITION AND INITIAL MEASUREMENT SECTIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION. WITH FEW EXCEPTIONS, HOMESIGHT IS SUBJECT TO FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE PRIOR THREE YEARS. MANAGEMENT HAS REVIEWED HOMESIGHT'S TAX POSITIONS AND DETERMINED THERE WERE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. HOMESIGHT RECOGNIZES INCOME TAX RELATED INTEREST IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022, HOMESIGHT RECOGNIZED NO INCOME TAX RELATED INTEREST. DURING THE YEARS ENDED DECEMBER 31, 2023 AND 2022, HOMESIGHT RECOGNIZED 0 AND 33,880 IN FILING PENALTIES FOR ERRORS ON FORM 1099 FILINGS, WHICH WERE ABATED IN 2024. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| LITERACY SOURCE | |||||||
| 3200 NE 135TH ST | SEATTLE | WA | 98125 | 912101208 | 3 | $278,930 | READY TO WORK |
| ASIAN COUNSELING & REFERRAL SERVICE | |||||||
| 3639 MARTIN LUTHER KING JR WAY S | SEATTLE | WA | 98144 | 910916176 | 3 | $190,000 | READY TO WORK |
| SOMALI COMMUNITY SERVICES OF SEA | |||||||
| 8810 RENTON AVE S | SEATTLE | WA | 98118 | 911746056 | 3 | $49,990 | READY TO WORK |
| NEIGHBORHOOD HOUSE | |||||||
| 1225 S WELLER ST 510 | SEATTLE | WA | 98144 | 910568305 | 3 | $65,393 | READY TO WORK |
| FRONT AND CENTERED | |||||||
| 1501 E MADISON STREET STE 250 | SEATTLE | WA | 98122 | 843336800 | $90,000 | COMMUNITY DEV | |
| LEWIS MILLER LLC DBA COMFORT ZONE | |||||||
| 707 S GRADY WAY STE 600 | RENTON | WA | 980573227 | $8,000 | COMMUNITY DEV | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 4 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PAGE 1, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | ORGANIZATIONS ARE SELECTED BASED UPON ALIGNMENT OF GOALS AND MISSION WITH HOMESIGHT AND THE IMMEDIATE COMMUNITY AND/OR AS DICTATED IN SUBRECIPIENT GRANT AGREEMENTS. DEPENDING ON GRANT REQUIREMENTS, SUBSTANTIATION OF EXPENDIURES MAY BE REQUIRED. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|---|
| DARRYL SMITH | ||||
| EXECUTIVE DIRECTOR | $190,546 | $6,000 | $15,503 | $212,049 |
| TAMMIE ANDERS | ||||
| DIRECTOR OF FINANCE | $137,079 | $2,475 | $11,823 | $151,377 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| KATRINA FREEBURG | |||||||
| BOARD MEMBER | PRINICIPAL RESIDENCE MORTGAGE | Yes (X) | $70,000 | $70,000 | false | Yes (true) | Yes (true) |
| KATRINA FREEBURG | |||||||
| BOARD MEMBER | PRINCIPAL RESIDENCE MORTGAGE | Yes (X) | $25,000 | $25,000 | false | Yes (true) | Yes (true) |
| KATRINA FREEBURG | |||||||
| BOARD MEMBER | PRINCIPAL RESIDENCE MORTGAGE | Yes (X) | $30,000 | $9,974 | false | Yes (true) | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $104,974 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | HOMESIGHT CREATES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES THROUGH ITS HOMEBUYER EDUCATION AND LENDING, AND REAL ESTATE DEVELOPMENT PROGRAMS. THESE PROGRAMS PRIMARILY SERVE LOW AND MODERATE INCOME, FIRST-TIME HOMEBUYERS IN SEATTLE, KING, PIERCE, AND SNOHOMISH COUNTIES. HOMESIGHT IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, CERTIFIED BY THE US DEPARTMENT OF TREASURY, AND IS A WASHINGTON STATE LICENSED CONSUMER LOAN COMPANY |
| FORM 990, PAGE 2, PART III, LINE 4A | REAL ESTATE DEVELOPMENT: PART OF HOMESIGHT'S STRATEGY IS TO USE AFFORDABLE COMMERCIAL AND RESIDENTIAL REAL ESTATE DEVELOPMENT TO STIMULATE ECONOMIC GROWTH IN COMMUNITIES WHERE EQUITABLE INVESTMENT IS LAGGING AND BUILD HOUSEHOLD ASSETS FOR LOW INCOME AND FIRST-TIME HOME BUYERS. HOMESIGHT REAL ESTATE DEVELOPMENT ALSO PROVIDES PROJECT MANAGEMENT SERVICES TO COMMUNITY NONPROFIT ORGANIZATIONS TO ASSIST IN COMMUNITY DEVELOPMENT AND NEIGHBORHOOD REVITALIZATION ACTIVITIES. HOMESIGHT WAS THE LEAD DEVELOPER AND PROJECT MANAGER FOR THE TRANSIT- ORIENTED DEVELOPMENT OF OTHELLO SQUARE (FORMERLY THE SOUTHEAST ECONOMIC OPPORTUNITY CENTER (SEOC)) IN SEATTLE. HOMESIGHT COMPLETED THE FEASIBILITY AND IMPLEMENTATION PLAN FOR THE PROJECT IN 2017. THE GOALS OF THIS 215M PROJECT ARE TO PREVENT DISPLACEMENT OF THE HISTORIC RESIDENTS AND BUSINESSES IN THE OTHELLO NEIGHBORHOOD, TO CELEBRATE AND EMBRACE THE HERITAGE OF THE DIFFERENT CULTURES THAT COMPRISE THE SOUTHEAST SEATTLE COMMUNITY, AND TO PROVIDE TOOLS AND OPPORTUNITIES TO GUARANTEE THE LONG-TERM HEALTH AND SUCCESS OF THE ENTIRE COMMUNITY. WITH THE ASSISTANCE OF SEVERAL COMMUNITY-LED COALITIONS ACTIVELY INVOLVED IN EQUITABLE DEVELOPMENT IN SOUTHEAST SEATTLE, HOMESIGHT HAS BEEN LEADING A DEDICATED AND ROBUST COMMUNITY ENGAGEMENT PROCESS THROUGHOUT THE PROGRAM PLANNING TO ENSURE THAT THE OTHELLO SQUARE BEST MEETS THE NEEDS AND VISION OF THE COMMUNITY. HOMESIGHT SIGNED ALL FOUR PURCHASE AND SALE AGREEMENTS (PSAS) ON THE PROPERTIES IN 2018 FOR THE OTHELLO SQUARE PROJECT WITH THE SEATTLE HOUSING AUTHORITY (SHA). HOMESIGHT ALSO ENTERED INTO ASSIGNMENT AGREEMENTS FOR TWO OF THE PROPERTIES TO BE OWNED AND DEVELOPED AS PART OF THE PROJECT BY TWO LOCAL ORGANIZATIONS. THE ODESSA BROWN CHILDREN'S CLINIC, TINY TOTS OTHELLO SQUARE AND ORENDA APARTMENTS BUILDING BROKE GROUND IN NOVEMBER 2019 AND THE SALISH SEA ELEMENTARY SCHOOL BROKE GROUND IN JULY 2020. BOTH BUILDINGS ARE NOW OPEN AND OPERATING. IN 2021, HOMESIGHT ASSIGNED THE PSA FOR THE 3RD PROPERTY TO COMMUNITY ROOTS HOUSING, A LOCAL AFFORDABLE HOUSING DEVELOPER AND PROVIDER OF AFFORDABLE RENTAL UNITS. THEY WILL DEVELOP THIS PROPERTY AND OWN AND MANAGE THE AFFORDABLE RENTAL UNITS IT WILL CONTAIN. THE BUILDING WILL BE CALLED THE OPPORTUNITY CENTER @ OTHELLO SQUARE AND COMPLETION IS TENTATIVELY SCHEDULED FOR 2028. HOMESIGHT WILL PURCHASE AND BUILD OUT THE 1ST FLOOR AS COMMUNITY-SERVING COMMERCIAL SPACES THAT WILL BE SOLD TO LOCAL COMMUNITY SERVING ORGANIZATIONS. HOMESIGHT WILL RELOCATE ITS OFFICES TO THE OPPORTUNITY CENTER. THE PROPERTY PURCHASE FOR THE 4TH PSA WILL BE FINALIZED ONCE ALL CLOSING CONDITIONS ARE MET. HOMESIGHT IS DEVELOPING A LOW-INCOME LIMITED EQUITY HOUSING COOPERATIVE ON THE 4TH REMAINING PROPERTY CALLED ?L?X? (U-LEX, PRONOUNCED "OH-LEW") @ OTHELLO SQUARE. THE PROJECT IS APPLYING FOR FHA-INSURED CONSTRUCTION FINANCING AND HAS EQUITY FROM LOCAL, STATE AND FEDERAL SOURCES ALREADY SECURED. THIS PROJECT IS FULLY PERMITTED AND ENTITLED AND IS SCHEDULED FOR COMPLETION IN 2026. |
| FORM 990, PAGE 2, PART III, LINE 4B | HOMEBUYER SERVICES & LENDING: HOMESIGHT'S HOMEBUYER EDUCATION AND COUNSELING PROGRAMS SERVE NEARLY 350 HOUSEHOLDS ANNUALLY, INCLUDING NEW AND EXISTING CUSTOMERS. IN 2023 AND 2022, OF THESE CUSTOMERS, 85% AND 64% RESPECTIVELY, WERE AT OR BELOW 80% PERCENT OF THE AREA MEDIAN INCOME. HOMESIGHT'S MISSION IS TO SERVE PRIMARILY LOW- AND MODERATE-INCOME FAMILIES WISHING TO PURCHASE THEIR FIRST HOME, BUT AS A HUD-CERTIFIED HOUSING COUNSELING AGENCY, IT CANNOT DISCRIMINATE BASED ON INCOME. ITS HOMEBUYER PROGRAM CONSISTS OF ONE-ON-ONE COUNSELING, AND NO-COST CLASSES ON ACHIEVING THE DREAM OF HOMEOWNERSHIP, OR AN ONLINE BUYER EDUCATION CURRICULUM FOR A NOMINAL FEE. -- HOMESIGHT DEVELOPED ITS REVOLVING LOAN FUND IN 1991 TO ADDRESS THE GROWING GAP BETWEEN FAMILY INCOMES AND HOME PRICES. IT OFFERS PURCHASE ASSISTANCE LOANS FUNDED BY PUBLIC AND PRIVATE INVESTMENTS TO PACKAGE HIGHLY COMPETITIVE AMORTIZING OR DEFERRED SECOND LOANS AND DEFERRED THIRD LOANS FOR LOW- AND MODERATE-INCOME HOMEBUYERS. THIS STRUCTURE ALLOWS HOMESIGHT TO MINIMIZE OR ELIMINATE THE REQUIREMENT FOR FHA OR PRIVATE MORTGAGE INSURANCE FOR ITS CUSTOMERS THEREBY INCREASING THE BUYING POWER OF LOW- AND MODERATE-INCOME FIRST-TIME HOMEBUYERS. -- HOMESIGHT IS A "CORRESPONDENT" 1ST MORTGAGE LENDER TO THE WASHINGTON STATE HOUSING FINANCE COMMISSION, A LOCAL COMMUNITY BANK, AND A NEIGHBORWORKS AMERICA PARTNER. IN 2023 AND 2022, HOMESIGHT ORIGINATED OVER 16.7 MILLION AND 18.5 MILLION IN 1ST MORTGAGE LOANS WITH ITS CAPITAL PRIMARILY FOR SUBSEQUENT SALE TO THESE LENDERS. THROUGH THESE CHANNELS HOMESIGHT PROVIDES QUALITY, LOW-INTEREST DOWN-PAYMENT OPTIONS AND MORE FLEXIBLE CASE-BY-CASE UNDERWRITING THAT ALLOWS MANY MORTGAGE-ELIGIBLE CUSTOMERS TO ACCESS CREDIT THAT WOULD NOT BE AVAILABLE TO THEM OTHERWISE. IN 2020, HOMESIGHT WAS APPROVED BY THE US DEPARTMENT OF TREASURY - CDFI FUND TO EXPAND THE TARGET MARKET TO AFRICAN AMERICANS (AA) IN KING, PIERCE, AND SNOHOMISH COUNTIES. SINCE THIS ADDITION, HOMESIGHT HAS FOUGHT AGAINST REDLINING AND GENTRIFICATION OF AA'S IN THE SEATTLE AREA BY INTRODUCING LENDING PROGRAMS SUCH AS THE SAM SMITH HI NEIGHBOR HOMEOWNERSHIP FUND (SSHNHF) AND THE SOCIAL JUSTICE (SJ) DPA PROGRAM. THE SSHNHF HELPS AA'S BETWEEN 80-120% AREA MEDIAN INCOME, PURCHASE HOMES ACROSS WASHINGTON STATE BY OFFERING DOWN PAYMENT ASSISTANCE UP TO 20,000 AT 3% DEFERRED FOR 30 YEARS. HOMESIGHT HAS PARTNERED WITH WINDERMERE, US BANK, AND NAREB TO PIONEER THIS INNOVATIVE PROGRAM. AS HOUSING PRICES CONTINUE TO SKYROCKET AND INTEREST RATES CREEP UP, HOMESIGHT HAS MADE IT A MISSION TO SUPPORT BIPOC COMMUNITIES. HOMESIGHT IS SUPPORTING BIPOC FIRST TIME HOME BUYERS BY OFFERING THE SOCIAL JUSTICE DPA PROGRAM. THE PROGRAM INCLUDES 10,000 DEFERRED DOWN PAYMENT ASSISTANCE AT 0% FOR 30 YEARS. THE 3 MILLION SJ DPA FUND WILL HELP 300 BIPOC FAMILIES PURCHASE HOMES IN WASHINGTON STATE. IN 2021, HOMESIGHT LAUNCHED A COUPLE OF DIFFERENT MORTGAGE LOANS PROGRAMS TO FURTHER SUPPORT BIPOC COMMUNITIES. HOMESIGHT NOW OFFERS A VISTA (ITIN) LOAN PROGRAM AND A SHARIA COMPLIANT LOAN PROGRAM. THE VISTA LOAN IS AIMED AT HELPING THOSE WITHOUT TRADITIONAL SOCIAL SECURITY NUMBERS PURCHASE HOMES. THE VISTA LOAN PROGRAM ONLY REQUIRES A 5% DOWN PAYMENT BY THE BORROWER. THIS IS MUCH FRIENDLIER THAN THE OTHER ITIN PROGRAMS AROUND WHICH REQUIRE 10-30% DOWN. HOMESIGHT WAS ALSO APPROVED BY THE WASHINGTON STATE HOUSING FINANCE COMMISSION TO FUND AND SELL SHARIA COMPLIANT FIRST MORTGAGES. THERE IS A LARGE ISLAMIC POPULATION IN SEATTLE THAT NEED SUPPORT IN PURCHASING FIRST HOMES. HOMESIGHT WAS EXCLUSIVELY APPROVED BY THE WSHFC TO OFFER THESE LOANS. HOMESIGHT PARTNERED WITH IJARA CDC TO OFFER THIS INNOVATIVE, INTEREST FREE AND SHARIA COMPLIANT LOANS. TOGETHER WITH OUR PARTNERS WE HOPE TO MAKE A DIFFERENCE FOR FIRST-TIME HOMEBUYERS IN THIS EVER-CHALLENGING HOUSING MARKET IN WASHINGTON STATE. |
| FORM 990, PAGE 2, PART III, LINE 4C | COMMUNITY DEVELOPMENT: WITH A HISTORY OF CROSS-SECTOR COLLABORATION, EXPERTISE IN POLICY AND ADVOCACY, AND A TRACK RECORD OF EQUITABLE DEVELOPMENT, HOMESIGHT IS RECOGNIZED AS A CATALYTIC COMMUNITY LEADER. FOR OVER 30 YEARS, HOMESIGHT HAS FACILITATED BEAUTIFICATION AND INFRASTRUCTURE IMPROVEMENT PROJECTS, MANAGED THE DEVELOPMENT OF CULTURAL CENTERS, SUPPORTED LOCAL BUSINESS ORGANIZATIONS, AND LED COALITIONS PROMOTING EQUITABLE GROWTH IN SOUTHEAST SEATTLE, THE CITY'S MOST RACIALLY AND ETHNICALLY DIVERSE COMMUNITY. HOMESIGHT ESTABLISHED THREE COMMUNITY DEVELOPMENT ACTIVITIES IN 2023: 1) ESSENTIAL SOUTHEAST SEATTLE COOPERATIVE (ESES). AT THE START OF THE COVID- 19 PANDEMIC, THIS PROGRAM WAS DEVELOPED TO PROVIDE AN ONLINE DIRECTORY OF SMALL, INDEPENDENTLY OWNED BUSINESSES LOCATED IN SOUTHEAST SEATTLE THAT WERE OPEN FOR BUSINESS AND DEEMED ESSENTIAL BY WASHINGTON STATE. AS THE PANDEMIC PROGRESSED AND THE NEED BECAME APPARENT, ESES WAS TRANSFORMED INTO AN ONLINE MARKETPLACE REPRESENTING OVER 2,000 BUSINESSES AND SERVING MORE THAN 30,000 CONSUMERS. IN ADDITION TO THE ONLINE MARKETPLACE ESES COLLECTIVE DESIGNED AND IMPLEMENTED A DIGITAL ACCESS AND EDUCATION PROGRAM TO COACH SMALL BIPOC OWNED BUSINESSES TO BE MORE COMPETITIVE IN THE DIGITAL MARKETPLACE; 2) NONPROFIT DELIVERY APP - POST COVID 19 PANDEMIC HAS INSTIGATED CONSUMER BEHAVIORAL CHANGE OF ON-DEMAND FOOD DELIVERY. EXISTING DELIVERY OPTIONS ARE FINANCIALLY UNSUSTAINABLE FOR BUSINESS OWNERS AND DRIVERS AND OFFER LOW ATTENTION TO UNIQUE BIPOC NEEDS. AN ALTERNATIVE DELIVERY OPTION WILL CAPTURE MARKET DEMANDS AND SERVE DESIRED NEEDS TO LOCAL ECOSYSTEM. A HYPER LOCAL DELIVERY APP WITH REDUCED COMMISSION, HIGHER DRIVER PAYOUT AND CURATED RESOURCES IS THE SOLUTION WE ARE SEEKING. 3) READY TO WORK (RTW) - RTW IS A PARTNERSHIP WITH COMMUNITY-BASED ORGANIZATIONS AND AN ADULT BASIC EDUCATION COMMUNITY-BASED PROVIDING ESL COURSES AND JOB TRAINING AND PLACEMENT IN SOUTHEAST SEATTLE. THE RTW PARTNERSHIP, IS NOW MERGING WITH TWO OTHER BASIC EDUCATION PROGRAMS IN NORTH AND WEST SEATTLE, WHERE HOMESIGHT WILL CONTINUE TO SERVE AS THE LEAD AGENCY PROVIDING ADMINISTRATIVE SUPPORT. THE PARTNERS ARE ADDING NEW PATHWAYS TO THE PROGRAM SUCH AS THE CHILDCARE COBORT THROUGH THE IMAGINE INSTITUTE. IT HAS PROVEN SUCCESSFUL WITH 100% GRADUATION RATE AND 85% EMPLOYMENT. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE DRAFT FORM 990 IS PROVIDED TO ALL MEMBERS OF THE EXECUTIVE BOARD FOR REVIEW PRIOR TO FILING. IF TIMING ALLOWS, QUESTIONS MAY BE RAISED AT A BOARD MEETING PRIOR TO FILING; IF NOT, THE CFO IS AVAILABLE TO ANSWER ANY AND ALL QUESTIONS. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE BOARD AND EMPLOYEES COMPLETE A CONFLICTS OF INTEREST STATEMENT ANNUALLY. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE BOARD PERIODICALLY REVIEWS THE TOP OFFICIAL'S COMPENSATION USING SURVEY DATA TO MAKE MODIFICATIONS AS NECESSARY. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE MANAGEMENT TEAM PERIODICALLY REVIEWS THE TOP OFFICIAL'S COMPENSATION USING SURVEY DATA TO MAKE MODIFICATIONS AS NECESSARY, AND BUDGETED SALARIES ARE SUBJECT TO BOARD APPROVAL. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE FINANCIAL STATEMENTS ARE INCLUDED IN HOMESIGHT'S ANNUAL REPORT THAT IS AVAILABLE TO THE PUBLIC. OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | End Of Year AssetsEndOfYearAssetsAmt |
|---|---|---|---|---|---|---|---|---|---|
| 809 HIAWATHA PLACE LLC | |||||||||
| 5117 RAINIER AVE S | SEATTLE | WA | 98188 | 205328278 | DEVELOPM'T | WA | $41,058 | HOMESIGHT | |
| COCO LLC | |||||||||
| 5117 RAINIER AVE S | SEATTLE | WA | 98188 | 320583276 | DEVELOPM'T | WA | HOMESIGHT | $6,085,078 | |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOMESIGHT COMMUNITY DEVELOPMENT | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5117 RAINIER AVE S | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98118 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 824218470 | EIN |
| Primary Activities | CMTY DEV | PrimaryActivitiesTxt |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Exempt Code Section | 501C3 | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOMESIGHT | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | false | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LW II HOMESIGHT LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5117 RAINIER AVE S | AddressLine1Txt |
| City | SEATTLE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98118 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464823390 | EIN |
| Primary Activities | LOW INCM | PrimaryActivitiesTxt |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE R | FormAndLineReferenceDesc |
| Explanation | SCHEDULE R, PART II, LINE 1: THE ORGANIZATION SHARES THE SAME MAJORITY OF BOARD OF DIRECTORS AS HOMESIGHT COMMUNITY DEVELOPMENT. SCHEDULE R, PART IV, LINE 1: LW II HOMESIGHT LLC ELECTED TO BE TREATED AS A CORPORATION AND IS 100% OWNED BY HOMESIGHT COMMUNITY DEVELOPMENT (SCHED R, PART II, LINE 1). | ExplanationTxt |