First A M E Housing Association
- Assets
- $19.6m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Seattle, WA
- Founding
- 06/1983
- Data as of
- 12/2023
- EIN
- 91-1148798
Organization Overview
First A M E Housing Association, operating under the name Fame, is located in Seattle, WA. The organization was established in 1983. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Fame employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fame 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 12/2023, Fame generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 8.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF AFFORDABLE HOUSING TO LOW AND MODERATE INCOME FAMILIES AND THE ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roxanne Buchanan President | OfficerTrustee | 1 | $0 |
Larry Landry Vice Preside | OfficerTrustee | 1 | $0 |
Marcus Price Treasurer | OfficerTrustee | 1 | $0 |
Harold Wright Secretary | OfficerTrustee | 1 | $0 |
Ross Haynes Director | Trustee | 1 | $0 |
Simeon Rhoden Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,627,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,627,127 |
| Total Program Service Revenue | $1,180,655 |
| Investment income | $397,522 |
| 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 | $3,205,304 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $517,049 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,711 |
| Payroll taxes | $53,307 |
| Fees for services: Management | $37,385 |
| Fees for services: Legal | $67,039 |
| Fees for services: Accounting | $45,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,694 |
| Office expenses | $114,680 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,193 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,275 |
| Insurance | $133,466 |
| All other expenses | $280,911 |
| Total functional expenses | $2,687,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,946 |
| Savings and temporary cash investments | $4,098,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $195,207 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,415,387 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $56,639 |
| Net Land, buildings, and equipment | $643,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,907,811 |
| Total assets | $19,600,847 |
| Accounts payable and accrued expenses | $645,968 |
| Grants payable | $0 |
| Deferred revenue | $52,060 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $68,316 |
| Total liabilities | $766,344 |
| Net assets without donor restrictions | $16,009,381 |
| Net assets with donor restrictions | $2,825,122 |
| 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 | $19,600,847 |