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Mount Zion Housing Development

Tax-deductible

Seattle, WA501(c)(3)HousingEIN 94-3075904Revenue $792K in FY2024

On file with the IRSmountzionhousing.org1916 E Madison Street, 98122-2891 · Seattle, WATax-exempt since Aug 2012Publicly supported — 509(a)(2)

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Mount Zion Housing Development (mzhd) was founded in 1988 to provide affordable Housing to seniors in seattle's central district. Its first Development was mckinney manor located at 20th avenue and east madison. The 64-unit Development was named in honor of the reverend dr. Samuel b. Mckinney, the late pastor of mt. Zion baptist church, community leader and civil rights activist. Mckinney envisioned providing affordable Housing for seniors who were being priced out of the gentrified central district. Mckinney manor today is an extremely popular iconic Housing Development,that has maintained below market rents.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $146K a year · 27% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$23.0M
84% of total assets
Concern: liabilities are 84% of assets; over 80%.
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
$792K
-28% vs prior year
Spent
$1.7M
To programs
97%
Net assets
$4.3M
By yearFY2020–FY2024
Revenue
$792K
FY2024▼ -28%
Tap a bar for its year
Revenue by fiscal year
FY2020$350K
FY2021$239K
FY2022$197K
FY2023$1.1M
FY2024$792K
Expenses
$1.7M
FY2024▲ ×20
Tap a bar for its year
Expenses by fiscal year
FY2020$292
FY2021$39K
FY2022$79K
FY2023$86K
FY2024$1.7M
Net assets
$4.3M
FY2024▼ -22%
Tap a bar for its year
Net assets by fiscal year
FY2020$572K
FY2021$4.2M
FY2022$4.3M
FY2023$5.5M
FY2024$4.3M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Aug 2012.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $1.7M Management & general 3% · $51K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Charles W Ervin
Asst Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary Hopkins
Board Member
$0Pt VII · Sec A
Oliver Mabiala
Board Member
$0Pt VII · Sec A
Carol Bell
Board Member
$0Pt VII · Sec A
Wallace Johnson
Board Member
$0Pt VII · Sec A
Lisa Carter
Bookkeeper
$0Pt VII · Sec A
See Mount Zion Housing Development 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 seniors in Seattle's Central District.

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2024
01

Affordable senior housing

$1.7Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$792K
Ln 12
Fees for servicesLn 2g$619K
Gifts and grantsLn 1h$167K
Investment incomeLn 3$7K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Managementcol C$51K
Owns and owesPt X
$4.3M
net assets · Ln 32
Cash and savingsLn 1–2$633K
Total assetsLn 16$27.3M
LiabilitiesLn 26$23.0M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$167K
Government grantsLn 1e$167K
Fees for servicesLn 2g$619K
Investment incomeLn 3$7K
Total revenueLn 12$792K
Assets in detailPt X, end of year
CashLn 1$223K
SavingsLn 2$410K
Cash and savings togetherLn 1–2$633K
Land, buildings, equipmentLn 10c$26.4M
Other assetsLn 15$58K
Total assetsLn 16$27.3M
LiabilitiesLn 26$23.0M
Net assetsLn 32$4.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$465K$633K
Land, buildings, equipmentLn 10c$27.2M$26.4M
Total assetsLn 16$28.0M$27.3M
LiabilitiesLn 26$22.5M$23.0M
Net assetsLn 32$5.5M$4.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$99K$99K
Other employee benefitsLn 9$139$139
Payroll taxesLn 10$10K$10K
Management feesLn 11a$32K$32K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$14K$14K
Advertising and promotionLn 12$12K$12K
Office expensesLn 13$87K$87K
OccupancyLn 16$614K$614K
Depreciation, depletion and amortizationLn 22$863K$863K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$1.7M$1.7M$51K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $792K$1.7M−$947K$4.3M 990 PDF
FY2023 $1.1M$86K$1.0M$5.5M 990 PDF
FY2022 $197K$79K$118K$4.3M 990 PDF
FY2021 $239K$39K$200K$4.2M 990 PDF
FY2020 $350K$292$349K$572K 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 FY2024 990 (6 parts)
Part I · Summary $792,365 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $820,395$166,614
I-9 Program service revenuePrior year $300,000$618,573
I-10 Investment incomePrior year $5,926$7,178
I-11 Other revenuePrior year −$29,288$0
I-12 Total revenuePrior year $1,097,033$792,365
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$109,071
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $86,271$1,630,461
I-18 Total expensesPrior year $86,271$1,739,532
I-19 Revenue less expensesPrior year $1,010,762−$947,167
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $792,365 across 5 lines filed
VIII-1e Government grants$166,614
VIII-1h Total contributions, gifts and grants$166,614
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $618,573$618,573
VIII-3 Investment incomeExcluded from tax $7,178$7,178
VIII-12 Total revenueRelated to mission $618,573 · Unrelated business $0 · Excluded from tax $7,178$792,365
Part IX · Statement of functional expenses $1,739,532 across 11 lines filed
IX-7 Other salaries and wagesPrograms $98,865$98,865
IX-9 Other employee benefitsPrograms $139$139
IX-10 Payroll taxesPrograms $10,067$10,067
IX-11a Management feesManagement $32,410$32,410
IX-11b Legal feesManagement $4,125$4,125
IX-11c Accounting feesManagement $14,097$14,097
IX-12 Advertising and promotionPrograms $12,004$12,004
IX-13 Office expensesPrograms $86,928$86,928
IX-16 OccupancyPrograms $614,005$614,005
IX-22 Depreciation, depletion and amortizationPrograms $862,536$862,536
IX-24 Other expenses (24a–d)Programs $4,356$4,356
IX-25 Total functional expensesPrograms $1,688,900 · Management $50,632 · Fundraising $0$1,739,532
Part X · Balance sheet $27,313,493 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $52,642$222,858
X-2 Savings and temporary cash investmentsStart of year $412,678$409,703
X-3 Pledges and grants receivableStart of year $179,605$149,605
X-4 Accounts receivableStart of year $6,493$84,461
X-9 Prepaid expenses and deferred chargesStart of year $300$22,816
X-10c Land, buildings and equipment, netStart of year $27,181,357$26,365,908
X-15 Other assetsStart of year $39,793$58,142
X-16 Total assetsStart of year $28,031,379$27,313,493
X-17 Accounts payable and accrued expensesStart of year $1,123,320$23,911
X-19 Deferred revenue$40,996
X-24 Unsecured notes and loans payableStart of year $21,346,174$22,847,540
X-25 Other liabilitiesStart of year $26,755$59,267
X-26 Total liabilitiesStart of year $22,496,249$22,971,714
X-27 Net assets without donor restrictionsStart of year $5,355,525$4,192,174
X-28 Net assets with donor restrictionsStart of year $179,605$149,605
X-32 Total net assets or fund balancesStart of year $5,535,130$4,341,779
X-33 Total liabilities and net assetsStart of year $28,031,379$27,313,493
Part XI · Reconciliation of net assets $4,341,779 net assets at year end
XI-1 Total revenue$792,365
XI-2 Total expenses$1,739,532
XI-3 Revenue less expenses−$947,167
XI-4 Net assets at start of year$5,535,130
XI-8 Prior period adjustments−$216,184
XI-9 Other changes in net assets−$30,000
XI-10 Net assets at end of year$4,341,779

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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