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First A M E Housing Association FY2023 filing

Tax-deductible

Seattle, WA501(c)(3)Since 1969HousingEIN 91-1148798Revenue $3.2M in FY2023

On file with the IRS1801 E Yesler Way, 98122-5747 · Seattle, WATax-exempt since Jun 1983Publicly supported — 509(a)(2)

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Provision of affordable Housing to low and moderate income families and the elderly

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
6 of 6
filings with a surplus
Average surplus $4.5M a year · 71% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 19.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$766K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.2M
-71% vs prior year
Spent
$2.7M
To programs
100%
Net assets
$18.8M
By yearFY2019–FY2024
Revenue
$3.2M
FY2023▼ -71%
Tap a bar for its year
Revenue by fiscal year
FY2019$2.3M
FY2020$2.6M
FY2021$2.4M
FY2022$11.0M
FY2023$3.2M
FY2024$16.6M
Expenses
$2.7M
FY2023▲ +73%
Tap a bar for its year
Expenses by fiscal year
FY2019$1.3M
FY2020$1.6M
FY2021$1.8M
FY2022$1.6M
FY2023$2.7M
FY2024$1.9M
Net assets
$18.8M
FY2023▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2019$5.2M
FY2020$6.2M
FY2021$6.8M
FY2022$16.2M
FY2023$18.8M
FY2024$33.5M

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

Form 990 (PDF) Claim
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 Jun 1983.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $2.7M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Larry Landry
Vice Preside
$0Pt VII · Sec A
Marcus Price
Treasurer
$0Pt VII · Sec A
Harold Wright
Secretary
$0Pt VII · Sec A
Ross Haynes
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See First A M E Housing Association executive salaries →

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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

Provides affordable housing for low-income families and the elderly.

Questions for First A M E Housing Association

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Provided by the organization

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1 program · $2.7M · in their own filed words · FY2023
01

First ame church housing corporation is a non-profit washington state corporation that has legal title to three properties. Through out the three properties are 98 units, located in seattle, washington.

$2.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2022
Enterprise Community Loan Fund INCFY2022$200K
Total grants receivedfrom 1 funder$200K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.2M
Ln 12
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$398K
Money outPt IX
$2.7M
Ln 25
Programscol B$2.7M
Owns and owesPt X
$18.8M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$19.6M
LiabilitiesLn 26$766K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$1.6M
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$398K
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
CashLn 1$284K
SavingsLn 2$4.1M
Cash and savings togetherLn 1–2$4.4M
Land, buildings, equipmentLn 10c$643K
Other assetsLn 15$3.9M
Total assetsLn 16$19.6M
LiabilitiesLn 26$766K
Net assetsLn 32$18.8M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$4.0M$4.4M
Land, buildings, equipmentLn 10c$602K$643K
Total assetsLn 16$19.5M$19.6M
LiabilitiesLn 26$3.4M$766K
Net assetsLn 32$16.2M$18.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$517K$517K
Other employee benefitsLn 9$67K$67K
Payroll taxesLn 10$53K$53K
Management feesLn 11a$37K$37K
Legal feesLn 11b$67K$67K
Accounting feesLn 11c$46K$46K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$115K$115K
Conferences, conventions and meetingsLn 19$9K$9K
Depreciation, depletion and amortizationLn 22$50K$50K
InsuranceLn 23$133K$133K
Other expenses (24a–d)Ln 24$1.3M$1.3M
All other expensesLn 24e$281K$281K
Total functional expensesLn 25$2.7M$2.7M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $16.6M$1.9M$14.7M$33.5M 990 PDF
FY2023 Viewing $3.2M$2.7M$517K$18.8M 990 PDF
FY2022 $11.0M$1.6M$9.4M$16.2M 990 PDF
FY2021 $2.4M$1.8M$530K$6.8M 990 PDF
FY2020 $2.6M$1.6M$1.1M$6.2M 990 PDF
FY2019 $2.3M$1.3M$949K$5.2M 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 $3,205,304 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,000$1,627,127
I-9 Program service revenuePrior year $2,590,311$1,180,655
I-10 Investment incomePrior year $8,368,253$397,522
I-11 Other revenuePrior year $1,746$0
I-12 Total revenuePrior year $10,980,310$3,205,304
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $488,917$637,067
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,067,355$2,050,746
I-18 Total expensesPrior year $1,556,272$2,687,813
I-19 Revenue less expensesPrior year $9,424,038$517,491
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $3,205,304 across 5 lines filed
VIII-1e Government grants$1,627,127
VIII-1h Total contributions, gifts and grants$1,627,127
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,180,655$1,180,655
VIII-3 Investment incomeExcluded from tax $397,522$397,522
VIII-12 Total revenueRelated to mission $1,180,655 · Excluded from tax $397,522$3,205,304
Part IX · Statement of functional expenses $2,687,813 across 13 lines filed
IX-7 Other salaries and wagesPrograms $517,049$517,049
IX-9 Other employee benefitsPrograms $66,711$66,711
IX-10 Payroll taxesPrograms $53,307$53,307
IX-11a Management feesPrograms $37,385$37,385
IX-11b Legal feesPrograms $67,039$67,039
IX-11c Accounting feesPrograms $45,635$45,635
IX-12 Advertising and promotionPrograms $1,694$1,694
IX-13 Office expensesPrograms $114,680$114,680
IX-19 Conferences, conventions and meetingsPrograms $9,193$9,193
IX-22 Depreciation, depletion and amortizationPrograms $50,275$50,275
IX-23 InsurancePrograms $133,466$133,466
IX-24 Other expenses (24a–d)Programs $1,310,468$1,310,468
IX-24e All other expensesPrograms $280,911$280,911
IX-25 Total functional expensesPrograms $2,687,813 · Management $0 · Fundraising $0$2,687,813
Part X · Balance sheet $19,600,847 assets, 15 lines filed
Asset lines not itemized here account for $10,415,387; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $170,699$283,946
X-2 Savings and temporary cash investmentsStart of year $3,845,523$4,098,434
X-4 Accounts receivableStart of year $1,166,416$195,207
X-9 Prepaid expenses and deferred chargesStart of year $122,931$56,639
X-10c Land, buildings and equipment, netStart of year $601,593$643,423
X-15 Other assetsStart of year $3,204,316$3,907,811
X-16 Total assetsStart of year $19,532,975$19,600,847
X-17 Accounts payable and accrued expensesStart of year $164,112$645,968
X-19 Deferred revenueStart of year $26,642$52,060
X-25 Other liabilitiesStart of year $3,167,011$68,316
X-26 Total liabilitiesStart of year $3,357,765$766,344
X-27 Net assets without donor restrictionsStart of year $16,175,210$16,009,381
X-28 Net assets with donor restrictions$2,825,122
X-32 Total net assets or fund balancesStart of year $16,175,210$18,834,503
X-33 Total liabilities and net assetsStart of year $19,532,975$19,600,847
Part XI · Reconciliation of net assets $18,834,503 net assets at year end
XI-1 Total revenue$3,205,304
XI-2 Total expenses$2,687,813
XI-3 Revenue less expenses$517,491
XI-4 Net assets at start of year$16,175,210
XI-8 Prior period adjustments$2,141,802
XI-10 Net assets at end of year$18,834,503

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

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