Housing Hope Properties

IRS exemption revoked

Everett, WA501(c)(3)HousingEIN 94-3163905Revenue $1.4M in FY2022

On file with the IRS5830 Evergreen Way, 98203-3748 · Everett, WATax-exempt since Oct 1992Publicly supported charity — 170(b)(1)(A)(vi)

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To acquire, lease, rehabilitate, construct and otherwise provide decent, safe, sanitary and affordable Housing for the very low and low income families and individuals residing in snohomish county and camano island.

91¢ of each $1 spent went to programs.
Run by 110 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $55K a year · 4% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.5M
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
+33% vs prior year
Spent
$1.2M
To programs
91%
Net assets
$2.3M
By yearFY2021–FY2022
Revenue
$1.4M
FY2022▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.1M
FY2022$1.4M
Expenses
$1.2M
FY2022▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.1M
FY2022$1.2M
Net assets
$2.3M
FY2022▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.1M
FY2022$2.3M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022. IRS ruling in Oct 1992.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.1M Management & general 9% · $107K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer/Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Housing Hope Properties 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 15aYes

Programs and updates

Provides safe, affordable housing for low-income families and individuals in Snohomish County and Camano Island.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2021
01

Develop safe, decent and affordable housing for low and very low income residents of snohomish county and camano island. Housing hope properties is a community housing development organization (chdo) that is qualified by both snohomish county and the state of washington.

$1.1Mprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.2M
Fees for servicesLn 2g$240K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.1M
Managementcol C$107K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$698K
Total assetsLn 16$4.7M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$539K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$240K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$698K
SavingsLn 2$0
Cash and savings togetherLn 1–2$698K
InvestmentsLn 11–13−$340
Land, buildings, equipmentLn 10c$853K
Other assetsLn 15$0
Total assetsLn 16$4.7M
LiabilitiesLn 26$2.5M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6110
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$123K$698K
InvestmentsLn 11–13$0−$340
Land, buildings, equipmentLn 10c$111K$853K
Total assetsLn 16$3.8M$4.7M
LiabilitiesLn 26$1.7M$2.5M
Net assetsLn 32$2.1M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Management feesLn 11a$14K$14K
Legal feesLn 11b$0$0
Accounting feesLn 11c$0$0
Lobbying feesLn 11d$0$0
Investment management feesLn 11f$0$0
Other fees for servicesLn 11g$0$0
Advertising and promotionLn 12$0$0
Office expensesLn 13$62K$62K
Information technologyLn 14$8K$8K
RoyaltiesLn 15$0$0
OccupancyLn 16$32K$32K
TravelLn 17$3K$3K
Travel and entertainment for public officialsLn 18$0$0
Conferences, conventions and meetingsLn 19$985$985
InterestLn 20$23K$23K
Payments to affiliatesLn 21$62K$62K
Depreciation, depletion and amortizationLn 22$75K$75K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$915K$808K$107K$0
Total functional expensesLn 25$1.2M$1.1M$107K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $1.4M$1.2M$202K$2.3M 990 PDF
FY2021 $1.1M$1.1M−$93K$2.1M 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 FY2022 990 (6 parts)
Part I · Summary $1,402,289 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $912,720$1,162,604
I-9 Program service revenuePrior year $93,144$239,685
I-10 Investment incomePrior year $277$0
I-11 Other revenuePrior year $49,145$0
I-12 Total revenuePrior year $1,055,286$1,402,289
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 $1,147,977$1,200,306
I-18 Total expensesPrior year $1,147,977$1,200,306
I-19 Revenue less expensesPrior year −$92,691$201,983
Part VI · Governance 5 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,402,289 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$539,000
VIII-1f All other contributions, gifts and grants$623,604
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,162,604
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $239,685 · Unrelated business $0 · Excluded from tax $0$239,685
VIII-12 Total revenueRelated to mission $239,685 · Unrelated business $0 · Excluded from tax $0$1,402,289
Part IX · Statement of functional expenses $1,200,306 across 23 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-11a Management feesPrograms $13,574$13,574
IX-11b Legal feesPrograms $0$0
IX-11c Accounting feesPrograms $0$0
IX-11d Lobbying feesPrograms $0$0
IX-11f Investment management feesPrograms $0$0
IX-11g Other fees for servicesPrograms $0$0
IX-12 Advertising and promotionPrograms $0$0
IX-13 Office expensesPrograms $62,319$62,319
IX-14 Information technologyPrograms $8,326$8,326
IX-15 RoyaltiesPrograms $0$0
IX-16 OccupancyPrograms $32,202$32,202
IX-17 TravelPrograms $3,144$3,144
IX-18 Travel and entertainment for public officialsPrograms $0$0
IX-19 Conferences, conventions and meetingsPrograms $985$985
IX-20 InterestPrograms $23,181$23,181
IX-21 Payments to affiliatesPrograms $62,220$62,220
IX-22 Depreciation, depletion and amortizationPrograms $75,285$75,285
IX-23 InsurancePrograms $3,673$3,673
IX-24 Other expenses (24a–d)Programs $808,425 · Management $106,972 · Fundraising $0$915,397
IX-25 Total functional expensesPrograms $1,093,334 · Management $106,972 · Fundraising $0$1,200,306
Part X · Balance sheet $4,742,083 assets, 24 lines filed
Asset lines not itemized here account for $2,319,112; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $122,914$697,782
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $75,000$35,508
X-4 Accounts receivableStart of year $434,683$65,495
X-8 Inventories for sale or useStart of year $674,342$771,801
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $110,604$852,725
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0−$340
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $3,752,856$4,742,083
X-17 Accounts payable and accrued expensesStart of year $502,222$447,432
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $204,227$0
X-26 Total liabilitiesStart of year $1,679,612$2,466,856
X-27 Net assets without donor restrictionsStart of year $1,522,008$1,492,746
X-28 Net assets with donor restrictionsStart of year $551,236$782,481
X-32 Total net assets or fund balancesStart of year $2,073,244$2,275,227
X-33 Total liabilities and net assetsStart of year $3,752,856$4,742,083
Part XI · Reconciliation of net assets $2,275,227 net assets at year end
XI-1 Total revenue$1,402,289
XI-2 Total expenses$1,200,306
XI-3 Revenue less expenses$201,983
XI-4 Net assets at start of year$2,073,244
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,275,227

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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