Spokane Housing Ventures
- Assets
- $41.8m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 92
- Location
- Spokane, WA
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 91-1551154
Organization Overview
Spokane Housing Ventures is located in Spokane, WA. The organization was established in 1997. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Spokane Housing Ventures employed 92 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spokane Housing Ventures 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, Spokane Housing Ventures generated $7.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $7.0m during the year ending 12/2021. While expenses have increased by 15.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND DEVELOP HOUSING FOR FAMILIES AND INDIVIDUALS WITH LIMITED INCOMES AND DISABILITIES, AND TO HELP RESIDENTS ACCESS SUPPORTIVE SERVICES TO ACHIEVE SELF-SUFFICIENCY. SEE SCHEDULE O FOR THE MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MANAGEMENT OF LOW INCOME HOUSING RENTAL PROPERTIES - PROGRAM EXPENSES ARE RELATED TO AFFORDABLE HOUSING PROPERTIES OWNED OR MANAGED BY SHV. SHV OWNS 100% OF VARIOUS PROPERTIES THROUGHOUT THE SPOKANE, MEDICAL LAKE, AND DAVENPORT COMMUNITIES. SHV ALSO OWNS AN INTEREST IN TAX CREDIT LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES OF VARIOUS SIZES. SHV MANAGES ALL OF THE TAX CREDIT PROPERTIES. SHV PURCHASED A COMMERCIAL OFFICE BUILDING IN 2015. THE BUILDING IS OWNED TO SERVE AS A CORPORATE HEADQUARTERS FOR SHV STAFF. RENTAL INCOME WILL BE RECOGNIZED FOR PARTS OF THE BUILDING THAT SHV DOES NOT OCCUPY.
INVESTMENT LOSS ON TAX CREDIT LIMITED PARTNERSHIPS AND SIMILAR ENTITIES WHICH ARE OWNED ONLY 0.01% BY SHV. THE PROPERTIES PROVIDE LOW INCOME HOUSING IN THE COMMUNITY THROUGH WASHINGTON STATE LOW INCOME HOUSING TAX CREDIT PROGRAMS. PROGRAM EXPENSES ARE RELATED TO SHV'S EXEMPT PURPOSE TO PROVIDE AFFORDABLE OPPORTUNITIES IN THE COMMUNITY. INVESTMENTS IN LOW INCOME HOUSING PARTNERSHIPS AND LLCS PROVIDE ADDITIONAL AFFORDABLE HOUSING UNITS OWNED BY DIFFERENT SIMILAR STRUCTURED ENTITIES, AS NOTED ABOVE. IN ADDITION, SHV IS AN ADMINISTRATIVE LIMITED PARTNER OR MEMBER WITH AN INTEREST OF 0.001% IN ADDITIONAL PROPERTIES PROVIDING HOUSING IN WASHINGTON, IDAHO AND MONTANA.
SHV HAS 100% CONTROL OF NORTHWEST ASSOCIATION FOR HOUSING AFFORDABILITY (NAHA), A 501(C)(3) ORGANIZATION. NAHA OWNS OR HAS 100% CONTROL OF TEN RESIDENTIAL PROPERTIES. NAHA HAS A 50% OWNERSHIP INTEREST IN LIMITED LIABILITY COMPANIES THAT OWN FOUR RESIDENTIAL PROPERTIES. NAHA HAS A .05% INTEREST IS A TAX CREDIT LIMITED LIABILITY COMPANY. PROGRAM EXPENSES ARE RELATED NAHA AND SHV'S TAX EXEMPT PURPOSE TO PROVIDE AFFORDABLE OPPORTUNITIES IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Saisbury-Dickson CFO | Officer | 40 | $92,123 |
Steve Mcbride President | OfficerTrustee | 2 | $0 |
Bethany Pashel Treasurer | OfficerTrustee | 2 | $0 |
Keith Kelley Past Preside | OfficerTrustee | 2 | $0 |
Steve Williams Secretary | OfficerTrustee | 2 | $0 |
Dianne Quast Vice Preside | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $668,099 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $668,099 |
| Total Program Service Revenue | $5,774,616 |
| Investment income | $15,470 |
| 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 | $7,474,764 |
| 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. | $92,123 |
| Compensation of current officers, directors, key employees. | $92,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,390,617 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $193,569 |
| Payroll taxes | $187,967 |
| Fees for services: Management | $1,584 |
| Fees for services: Legal | $2,968 |
| Fees for services: Accounting | $151,373 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,884 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,421 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $405,587 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,265,578 |
| Insurance | $278,820 |
| All other expenses | $319,972 |
| Total functional expenses | $7,024,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,206,650 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $685,408 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,715,754 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $120,343 |
| Net Land, buildings, and equipment | $31,407,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $137,084 |
| Other assets | $4,573,260 |
| Total assets | $41,846,446 |
| Accounts payable and accrued expenses | $615,040 |
| Grants payable | $0 |
| Deferred revenue | $184,086 |
| 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 | $34,990,186 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,462,305 |
| Total liabilities | $38,251,617 |
| Net assets without donor restrictions | $3,594,829 |
| 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 | $41,846,446 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Spokane Housing Ventures has recieved totaling $101,926.
| Awarding Organization | Amount |
|---|---|
Project Beauty Share Spokane, WA PURPOSE: TO PROVIDE BEAUTY PRODUCTS TO WOMEN AND THEIR FAMILIES IN NEED. | $71,926 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Neighborhood Partnerships Inc Portland, OR | $30,268,238 | $16,325,065 |
Philanthropy Northwest Seattle, WA | $9,442,103 | $7,893,544 |
Names Family Foundation Fircrest, WA | $140,493,292 | $4,553,326 |
Spokane Housing Ventures Spokane, WA | $41,846,446 | $7,474,764 |
Wesley Homes Foundation A Supporting Organization Des Moines, WA | $19,577,190 | $4,930,467 |
Consumer Voices Are Born Vancouver, WA | $1,434,971 | $3,293,379 |
Fish Ellensburg, WA | $3,698,785 | $3,084,474 |
Washington Alliance For Better Schools Shoreline, WA | $1,940,818 | $2,998,308 |
The Big Table Spokane, WA | $1,821,541 | $2,378,670 |
Pullman Regional Hospital Foundation Pullman, WA | $4,880,325 | $3,359,569 |
Bob Belloni Ranch Inc Coos Bay, OR | $1,344,837 | $2,224,327 |
B P Lester & Regina John Foundation Portland, OR | $36,917,772 | $3,830,649 |