Home Trust Of Skagit
- Assets
- $2.0m
- Revenue
- $219.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Mount Vernon, WA
- Founding
- 11/2010
- Data as of
- 12/2021
- EIN
- 27-1202317
Organization Overview
Home Trust Of Skagit is located in Mount Vernon, WA. The organization was established in 2010. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Home Trust Of Skagit employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Home Trust Of Skagit is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Home Trust Of Skagit generated $219.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $200.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TRUST ORGANIZATION, IS INCORPORATED TO HELP HOMEOWNERS IN SKAGIT COUNTY, WASHINGTON, SECURE AFFORDABLE HOMES AND ACHIEVE AN EQUITY RETURN ON THEIR INVESTMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOME TRUST OF SKAGIT, A COMMUNITY LAND TRUST SECURES AND MAINTAINS RENTAL UNITS TO BRING AFFORDABLE HOUSING TO FAMILIES IN THE SKAGIT VALLEY. THROUGH OUT THE PANDEMIC WE HAVE HELPED OVER 26 INDIVIDUALS AND FAMILIES HAVE SECURE HOUSING DURING CRISIS.
OUR GOAL IS TO HAVE HOMES IN NEIGHBORHOODS AND COMMUNIITEIS THROUGHOUT SKAGIT COUNTY, PROVIDING OPPORTUNITIES FOR HOME OWNERSHIP AND EQUITY RETURNS. WE PARTNER WITH THE COMMUNITY AT LARGE TO OBTAIN GRANTS TO ASSIST WITH DOWNPAYMENTS FOR INDIVIDUAL HOMES, BUIDLING AND MANAGING THE BUILDING OF AFFORDABLE HOMES.
WE HAVE 99 YEAR GROUND LEASES ON HOMES WE HAVE SOLD THROUGHOUT THE SKAGIT VALLEY BOTH IN OUR OWN DEVELOPMENT, SUMMERLYND, AND WHAT WE CALL SCATTERED SITES. THESE ARE AFFORDABLE HOMES WE HAVE HELPED MEMBERS TO PURCHASE THROUGHOUT THE SKAGIT VALLEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jodi Dean Executive Dir. | Trustee | 45 | $83,402 |
Becki Bell Treasurer | OfficerTrustee | 3 | $0 |
Lynn Christoferson President | OfficerTrustee | 0 | $0 |
Mary Hudson Director | Trustee | 1 | $0 |
Raul Badillo Director | Trustee | 1 | $0 |
Scott Thomas Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,462 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,891 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,353 |
| Total Program Service Revenue | $142,242 |
| Investment income | $183 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $218,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,152 |
| Compensation of current officers, directors, key employees. | $21,788 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,208 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,305 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,092 |
| Fees for services: Accounting | $4,201 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,200 |
| Advertising and promotion | $2,067 |
| Office expenses | $2,636 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,903 |
| Travel | $1,424 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,089 |
| Insurance | $10,927 |
| All other expenses | $2,315 |
| Total functional expenses | $200,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $292,878 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,131 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,662,196 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,959,205 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,543,216 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,559 |
| Total liabilities | $1,549,775 |
| Net assets without donor restrictions | $409,430 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,959,205 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Home Trust Of Skagit has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Milton G Waldbaum Family Foundation Fort Calhoun, NE PURPOSE: GENERAL FUNDING | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tlingit-Haida Regional Housing Authority Juneau, AK | $88,312,618 | $28,266,684 |
Northwest Housing Alternatives Inc Milwaukie, OR | $66,415,282 | $18,428,543 |
Habitat For Humanity International Inc Bend, OR | $14,216,100 | $11,437,404 |
Innovative Housing Inc Portland, OR | $72,167,425 | $8,053,529 |
Rose Community Development Corporation Portland, OR | $45,929,125 | $4,147,023 |
Columbia Cascade Housing Corporation The Dalles, OR | $26,545,459 | $3,977,861 |
Community Partners For Affordable Housing Tigard, OR | $29,986,925 | $5,745,574 |
Homeownership Center Of Tacoma Tacoma, WA | $2,760,083 | $2,293,969 |
Supportive Housing And Innovative Partnerships Inc Boise, ID | $1,739,165 | $2,561,877 |
Golden Opportunity Living Development Tacoma, WA | $5,413,206 | $1,758,342 |
Southeast Seattle Senior Foundation Seattle, WA | $6,759,619 | $1,644,540 |
Council House Inc Seattle, WA | $4,818,293 | $2,290,756 |