Whatcom Skagit Housing FY2023 filing

Tax-deductible

Ferndale, WA501(c)(3)HousingEIN 91-1005103Revenue $981K in FY2023

On file with the IRSwhatcomskagithousing.com1350 Slater Rd Unit 10, 98248-8941 · Ferndale, WATax-exempt since May 1978Publicly supported charity — 170(b)(1)(A)(vi)

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To improve the living conditions of Whatcom and Skagit county families.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$73K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $242K a year · 20% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$73K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
26 mo
of spending, in cash
Looks good: 26.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.3M
43% of total assets
Looks good: liabilities are 43% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$981K
+38% vs prior year
Spent
$616K
To programs
73%
Net assets
$4.5M
By yearFY2020–FY2024
Revenue
$981K
FY2023▲ +38%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$717K
FY2022$710K
FY2023$981K
FY2024$2.7M
Expenses
$616K
FY2023▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$662K
FY2021$587K
FY2022$538K
FY2023$616K
FY2024$2.5M
Net assets
$4.5M
FY2023▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$3.9M
FY2022$4.1M
FY2023$4.5M
FY2024$4.0M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1978.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $450K Management & general 27% · $167K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $73K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$72,532Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member at Large
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Julia Menkee’s $68K as Executive Dir. is at the 11th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Nancy Larsen————$73,418
Julia Menkee$68,068$72,532$67,971$61,751$2,750

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps families in Whatcom and Skagit counties improve their living conditions.

Questions for Whatcom Skagit Housing

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Provided by the organization

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1 program · $450K · in their own filed words · FY2023
01

The organization provided assistance to low-income homeowners by offering supervision and coordination of construction services while homes were being built. The organization also buys and sells lots to low-income individuals. During 2023, the organization sold 8 of its developed lots to low-income individuals.

$450Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$981K
Ln 12
Gifts and grantsLn 1h$585K
Investment incomeLn 3$379K
Other incomeLn 4–11$17K
Money outPt IX
$616K
Ln 25
Programscol B$450K
Managementcol C$167K
Owns and owesPt X
$4.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$7.8M
LiabilitiesLn 26$3.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$585K
Government grantsLn 1e$585K
Investment incomeLn 3$379K
Other incomeLn 4–11$17K
Gains on assetsLn 7$377K
Total revenueLn 12$981K
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$289K
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$6.2M
Total assetsLn 16$7.8M
LiabilitiesLn 26$3.3M
Net assetsLn 32$4.5M
OperationsPt I, VI
EmployeesI 58
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$2.2M$1.4M
Land, buildings, equipmentLn 10c$2.2M$6.2M
Total assetsLn 16$4.7M$7.8M
LiabilitiesLn 26$597K$3.3M
Net assetsLn 32$4.1M$4.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$79K$59K$20K
Other salaries and wagesLn 7$300K$225K$75K
Pension plan contributionsLn 8$23K$17K$6K
Other employee benefitsLn 9$88K$66K$22K
Payroll taxesLn 10$44K$33K$11K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$381$381
Office expensesLn 13$14K$5K$9K
Information technologyLn 14$1K$885$295
OccupancyLn 16$17K$13K$4K
TravelLn 17$2K$312$1K
Conferences, conventions and meetingsLn 19$305$305
InterestLn 20$405$405
InsuranceLn 23$31K$31K
Other expenses (24a–d)Ln 24−$109−$736$627
Total functional expensesLn 25$616K$450K$167K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.7M$2.5M$186K$4.0M 990 PDF
FY2023 Viewing $981K$616K$365K$4.5M 990 PDF
FY2022 $710K$538K$172K$4.1M 990 PDF
FY2021 $717K$587K$130K$3.9M 990 PDF
FY2020 $1.0M$662K$353K$3.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $981,443 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $591,793$585,317
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $112,093$379,458
I-11 Other revenuePrior year $6,000$16,668
I-12 Total revenuePrior year $709,886$981,443
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $476,268$533,565
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $61,365$82,669
I-18 Total expensesPrior year $537,633$616,234
I-19 Revenue less expensesPrior year $172,253$365,209
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $981,443 across 7 lines filed
VIII-1e Government grants$584,584
VIII-1f All other contributions, gifts and grants$733
VIII-1h Total contributions, gifts and grants$585,317
VIII-3 Investment incomeExcluded from tax $2,026$2,026
VIII-6 Net rental income or lossExcluded from tax $16,668$16,668
VIII-7 Net gain or loss on sales of assetsRelated to mission $377,432$377,432
VIII-12 Total revenueRelated to mission $377,432 · Unrelated business $0 · Excluded from tax $18,694$981,443
Part IX · Statement of functional expenses $616,234 across 16 lines filed
IX-6 Pay of disqualified personsPrograms $59,129 · Management $19,710$78,839
IX-7 Other salaries and wagesPrograms $224,939 · Management $74,979$299,918
IX-8 Pension plan contributionsPrograms $16,914 · Management $5,638$22,552
IX-9 Other employee benefitsPrograms $66,149 · Management $22,050$88,199
IX-10 Payroll taxesPrograms $33,043 · Management $11,014$44,057
IX-11b Legal feesManagement $5,279$5,279
IX-11c Accounting feesManagement $11,615$11,615
IX-12 Advertising and promotionPrograms $381$381
IX-13 Office expensesPrograms $4,623 · Management $9,190$13,813
IX-14 Information technologyPrograms $885 · Management $295$1,180
IX-16 OccupancyPrograms $12,798 · Management $4,266$17,064
IX-17 TravelPrograms $312 · Management $1,309$1,621
IX-19 Conferences, conventions and meetingsManagement $305$305
IX-20 InterestManagement $405$405
IX-23 InsurancePrograms $31,115$31,115
IX-24 Other expenses (24a–d)Programs −$736 · Management $627−$109
IX-25 Total functional expensesPrograms $449,552 · Management $166,682 · Fundraising $0$616,234
Part X · Balance sheet $7,782,951 assets, 12 lines filed
Asset lines not itemized here account for $280,882; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,132,825$1,062,405
X-2 Savings and temporary cash investmentsStart of year $1,073,463$288,529
X-10c Land, buildings and equipment, netStart of year $2,217,860$6,151,135
X-16 Total assetsStart of year $4,657,477$7,782,951
X-17 Accounts payable and accrued expensesStart of year $32,542$14,174
X-18 Grants payable$210,000
X-25 Other liabilitiesStart of year $539,820$755,705
X-26 Total liabilitiesStart of year $597,031$3,327,506
X-27 Net assets without donor restrictionsStart of year $3,935,446$3,920,445
X-28 Net assets with donor restrictionsStart of year $125,000$535,000
X-32 Total net assets or fund balancesStart of year $4,060,446$4,455,445
X-33 Total liabilities and net assetsStart of year $4,657,477$7,782,951
Part XI · Reconciliation of net assets $4,455,445 net assets at year end
XI-1 Total revenue$981,443
XI-2 Total expenses$616,234
XI-3 Revenue less expenses$365,209
XI-4 Net assets at start of year$4,060,446
XI-10 Net assets at end of year$4,455,445

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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