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Tri-Cities Terrace I

Tax-deductible

Spokane, WA501(c)(3)HousingEIN 91-2056284Revenue $930K in FY2025

On file with the IRS818 W Riverside Ave Ste 300, 99201-0910 · Spokane, WATax-exempt since Mar 2001Publicly supported charity — 170(b)(1)(A)(vi)

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Providing affordable housing to low income elderly residents.

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

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $97K a year · 17% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 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
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.7M
126% of total assets
Concern: liabilities are 126% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$930K
+145% vs prior year
Spent
$511K
To programs
100%
Net assets
−$964K
By yearFY2021–FY2025
Revenue
$930K
FY2025▲ +145%
Tap a bar for its year
Revenue by fiscal year
FY2021$273K
FY2022$281K
FY2023$941K
FY2024$380K
FY2025$930K
Expenses
$511K
FY2025▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2021$401K
FY2022$415K
FY2023$491K
FY2024$500K
FY2025$511K
Net assets
−$964K
FY2025▲ +30%
Tap a bar for its year
Net assets by fiscal year
FY2021−$1.6M
FY2022−$1.7M
FY2023−$1.3M
FY2024−$1.4M
FY2025−$964K

From the FY2025 Form 990 (year ending June 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2001.

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% · $511K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Mike O'Neill
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rich Barchet
President
$0Pt VII · Sec A
Ercy Morse
Treasuer
$0Pt VII · Sec A
Gerry Ritter
Secretary
$0Pt VII · Sec A
Rob Barr
Vice President
$0Pt VII · Sec A
See Tri-Cities Terrace I 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing for low-income elderly residents.

Provided by the organization

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1 program · $511K · in their own filed words · FY2024
01

Operation of a 60 unit housing development for low income elderly that has been designed to meet their physical, social and psychological needs to help promote health, security and happiness enabling them to live within a community and continue to lead fulfilling lives.

$511Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$930K
Ln 12
Gifts and grantsLn 1h$630K
Fees for servicesLn 2g$299K
Investment incomeLn 3$1K
Money outPt IX
$511K
Ln 25
Programscol B$511K
Owns and owesPt X
−$964K
net assets · Ln 32
Cash and savingsLn 1–2$586
Total assetsLn 16$3.7M
LiabilitiesLn 26$4.7M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$630K
Government grantsLn 1e$630K
Fees for servicesLn 2g$299K
Investment incomeLn 3$1K
Total revenueLn 12$930K
Assets in detailPt X, end of year
CashLn 1$586
Cash and savings togetherLn 1–2$586
Land, buildings, equipmentLn 10c$2.7M
Other assetsLn 15$384K
Total assetsLn 16$3.7M
LiabilitiesLn 26$4.7M
Net assetsLn 32−$964K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$4K$586
Land, buildings, equipmentLn 10c$2.8M$2.7M
Total assetsLn 16$3.0M$3.7M
LiabilitiesLn 26$4.4M$4.7M
Net assetsLn 32−$1.4M−$964K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$38K$38K
Accounting feesLn 11c$9K$9K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$146K$146K
Other expenses (24a–d)Ln 24$316K$316K
Total functional expensesLn 25$511K$511K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $930K$511K$419K−$964K 990 PDF
FY2024 $380K$500K−$120K−$1.4M 990 PDF
FY2023 $941K$491K$449K−$1.3M 990 PDF
FY2022 $281K$415K−$133K−$1.7M 990 PDF
FY2021 $273K$401K−$128K−$1.6M 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 FY2025 990 (6 parts)
Part I · Summary $930,054 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,845$629,799
I-9 Program service revenuePrior year $329,200$299,062
I-10 Investment incomePrior year $4,888$1,193
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $379,933$930,054
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $499,706$511,119
I-18 Total expensesPrior year $499,706$511,119
I-19 Revenue less expensesPrior year −$119,773$418,935
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $930,054 across 5 lines filed
VIII-1e Government grants$629,799
VIII-1h Total contributions, gifts and grants$629,799
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $299,062$299,062
VIII-3 Investment incomeExcluded from tax $1,193$1,193
VIII-12 Total revenueRelated to mission $299,062 · Unrelated business $0 · Excluded from tax $1,193$930,054
Part IX · Statement of functional expenses $511,119 across 5 lines filed
IX-11a Management feesPrograms $38,140$38,140
IX-11c Accounting feesPrograms $9,275$9,275
IX-20 InterestPrograms $1,872$1,872
IX-22 Depreciation, depletion and amortizationPrograms $146,317$146,317
IX-24 Other expenses (24a–d)Programs $315,515$315,515
IX-25 Total functional expensesPrograms $511,119 · Management $0 · Fundraising $0$511,119
Part X · Balance sheet $3,687,702 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $3,592$586
X-4 Accounts receivableStart of year $830$575,618
X-9 Prepaid expenses and deferred chargesStart of year $1,378$2,806
X-10c Land, buildings and equipment, netStart of year $2,833,821$2,724,497
X-15 Other assetsStart of year $127,954$384,195
X-16 Total assetsStart of year $2,967,575$3,687,702
X-17 Accounts payable and accrued expensesStart of year $23,095$321,877
X-19 Deferred revenueStart of year $796$1,790
X-25 Other liabilitiesStart of year $61,832$63,248
X-26 Total liabilitiesStart of year $4,350,275$4,651,467
X-27 Net assets without donor restrictionsStart of year −$1,382,700−$963,765
X-32 Total net assets or fund balancesStart of year −$1,382,700−$963,765
X-33 Total liabilities and net assetsStart of year $2,967,575$3,687,702
Part XI · Reconciliation of net assets −$963,765 net assets at year end
XI-1 Total revenue$930,054
XI-2 Total expenses$511,119
XI-3 Revenue less expenses$418,935
XI-4 Net assets at start of year−$1,382,700
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$963,765

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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