Imagine Housing
- Assets
- $36.5m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 41
- Location
- Bellevue, WA
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 94-3110312
Organization Overview
Imagine Housing is located in Bellevue, WA. The organization was established in 1994. According to its NTEE Classification (O40) the organization is classified as: Scouting, under the broad grouping of Youth Development and related organizations. As of 12/2021, Imagine Housing employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Imagine Housing 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, Imagine Housing generated $6.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $6.1m during the year ending 12/2021. While expenses have increased by 7.3% 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
DEVELOPING PERMANENT AFFORDABLE RENTAL HOUSING AND PROVIDING SUPPORTIVE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR WORK STARTED 35 YEARS AGO IN RESPONSE TO THE GROWING ECONOMIC INEQUITIES FACED BY LOW-INCOME HOUSEHOLDS IN EAST KING COUNTY. OUR FOUNDERS REALIZED THAT PERMANENT AFFORDABLE HOUSING WAS THE MOST COST-EFFECTIVE, LONG-TERM SOLUTION TO DISPLACEMENT, HOMELESSNESS, AND POVERTY IN THE REGION. SINCE THEN, OUR WORK HAS EXPANDED FROM A VOLUNTEER RUN ORGANIZATION WITH 18 AFFORDABLE APARTMENTS TO A HIGHLY RESPECTED ORGANIZATION PROVIDING 639 PERMANENT LOW-INCOME APARTMENT HOMES. IN 2009, WE IMPLEMENTED ON-SITE SUPPORTIVE RESIDENT SERVICES TO MEET THE GROWING NEED FOR ADDITIONAL RESOURCES TO ENSURE HOUSEHOLD STABILITY AND SELF-SUFFICIENCY.AS OF 2022, IMAGINE HOUSING SERVES LOW-INCOME FAMILIES AND SENIORS WITH AFFORDABLE, SERVICE-ENRICHED HOUSING IN THE EASTSIDE COMMUNITIES OF BELLEVUE, REDMOND, ISSAQUAH, KIRKLAND, MERCER ISLAND, SAMMAMISH AND SOON IN BOTHELL. ONE-QUARTER OF OUR HOMES SERVE FAMILIES AND SENIORS COMING DIRECTLY FROM HOMELESSNESS WE PRACTICE HOUSING FIRST AND WORK TO REMOVE ALL BARRIERS TO HOUSING. IMAGINE HOUSING SERVES EASTSIDE RESIDENTS ACROSS 639 HOUSEHOLDS - NEARLY 1,400 LOW AND VERY LOW-INCOME INDIVIDUALS, INCLUDING 414 CHILDREN, 290 SENIORS AND 31 VETERANS. 225 APARTMENTS ACROSS OUR PORTFOLIO ARE RESERVED FOR FAMILIES AND SENIORS COMING FROM HOMELESSNESS WITH COORDINATED ENTRY FOR ALL (CEA) REFERRALS OR SECTION 8 VOUCHERS, INCLUDING HOUSING CHOICE, PROJECT BASED AND VASH. THE KING COUNTY HOUSING AUTHORITY'S LOCAL PREFERENCES INCLUDE THESE HOUSEHOLD CRITERIA FOR VOUCHER SUBSIDIES: EXTREMELY LOW INCOME, HOMELESS OR AT RISK OF BECOMING HOMELESS, RENT-BURDENED OR LIVING IN SUBSTANDARD HOUSING. THE AVERAGE HOUSEHOLD INCOME OF IMAGINE HOUSING RESIDENTS IS $24,113 PER YEAR. 69% OF HOUSEHOLDS IDENTIFY AS PEOPLE OF COLOR AND 14% REPORT THAT A MEMBER OF THE HOUSEHOLD IS LIVING WITH A DISABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Heron Interim Ceo/president | Officer | 40 | $151,847 |
Sue Bliven Director Of Finance | Officer | 40 | $98,214 |
Gary Helling Interim COO | Officer | 40 | $68,183 |
Rob Moe Chair Thru 9-21 | OfficerTrustee | 7 | $0 |
Bill Kearns Secretary & Treasurer | OfficerTrustee | 4 | $0 |
Carolynn Ferris President & Vice President | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaiser Foundation Health Plan Employee Health Insurance Premiums | 12/30/19 | $227,761 |
Paccar Inc Office Rent | 12/30/19 | $107,532 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $70,788 |
| Related organizations | $0 |
| Government grants | $831,249 |
| All other contributions, gifts, grants, and similar amounts not included above | $736,857 |
| Noncash contributions included in lines 1a–1f | $22,351 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,638,894 |
| Total Program Service Revenue | $4,114,927 |
| Investment income | $4,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $410,060 |
| Net Gain/Loss on Asset Sales | $131 |
| Net Income from Fundraising Events | -$27,057 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,141,559 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $66,814 |
| 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. | $329,225 |
| Compensation of current officers, directors, key employees. | $261,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,924,714 |
| Pension plan accruals and contributions | $18,529 |
| Other employee benefits | $236,115 |
| Payroll taxes | $209,725 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,122 |
| Fees for services: Accounting | $38,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $362,339 |
| Advertising and promotion | $12,097 |
| Office expenses | $206,229 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $609,751 |
| Travel | $3,164 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,929 |
| Interest | $316,115 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $576,984 |
| Insurance | $156,241 |
| All other expenses | $34,566 |
| Total functional expenses | $6,092,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,460,361 |
| Savings and temporary cash investments | $251,096 |
| Pledges and grants receivable | $165,682 |
| Accounts receivable, net | $41,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $460,472 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $167,475 |
| Net Land, buildings, and equipment | $23,379,528 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,722,659 |
| Intangible assets | $30,000 |
| Other assets | $1,871,407 |
| Total assets | $36,549,729 |
| Accounts payable and accrued expenses | $234,771 |
| 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 | $240,000 |
| Secured mortgages and notes payable | $18,670,260 |
| Unsecured mortgages and notes payable | $735,000 |
| Other liabilities | $319,839 |
| Total liabilities | $20,199,870 |
| Net assets without donor restrictions | $15,832,479 |
| Net assets with donor restrictions | $517,380 |
| 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 | $36,549,729 |
Grants Awarded
Over the last fiscal year, Imagine Housing has awarded $96,848 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
280 CLARK LP PURPOSE: Rental assistance | $72,848 |
Bellevue, WA PURPOSE: Donation to cover salaries for the agency | $24,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Imagine Housing has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Thomas And Michele Parsons Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Program Of East Central Oregon Pendleton, OR | $9,382,268 | $16,632,351 |
Oregon Tilth Inc Corvallis, OR | $12,782,768 | $8,290,953 |
Imagine Housing Bellevue, WA | $36,549,729 | $6,141,559 |
Methow Conservancy Winthrop, WA | $9,253,346 | $3,989,243 |
Prince William Sound Science & Technology Institute Cordova, AK | $5,032,306 | $5,215,853 |
Washington School Principals Education Foundation Olympia, WA | $3,806,906 | $3,536,582 |
Jefferson Community Counseling Center Port Townsend, WA | $5,278,347 | $5,449,452 |
Kitsap Residences Port Orchard, WA | $1,679,971 | $3,557,109 |
Community Energy Project Inc Portland, OR | $1,061,487 | $2,605,848 |
Society Of St Vincent De Paul Medford, OR | $6,077,176 | $3,200,151 |
Bristol Bay Native Corporation Education Foundation Anchorage, AK | $34,167,034 | $3,535,334 |
Mano A Mano Salem, OR | $1,906,285 | $2,426,133 |