Homes First
- Assets
- $9.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Lacey, WA
- Founding
- 11/1990
- Data as of
- 12/2021
- EIN
- 94-3124800
Organization Overview
Homes First is located in Lacey, WA. The organization was established in 1990. 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, Homes First employed 8 individuals. This organization is the central organization for a national or regional group of organizations. Homes First 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, Homes First generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 9.1% 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 CREATE AND MAINTAIN SAFE, HEALTHY, AND AFFORDABLE RENTAL HOMES FOR THOSE WHO NEED THEM MOST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMES FIRST PROVIDES AFFORDABLE RENTAL HOUSING FOR HOUSEHOLDS WITH INCOMES AT OR BELOW 60% AREA MEDIAN INCOME. ADULTS WITH DEVELOPMENTAL DISABILITIES, PEOPLE IN RECOVERY, VETERANS, INDIVIDUALS, YOUTH AND PEOPLE IN MENTAL HEALTH PROGRAMS, AND FAMILIES ARE ALL SERVED IN THEIR PROGRAMS. DURING 2021 WE RECEIVED SBA LOANS AND ADDITIONAL GRANTS WHICH ALLOWED US TO CONTINUE OUR WORK AND TENANT SUPPORT WITHOUT AFFECTING OUR LEVEL OF SERVICE. THIS SUPPORT ALSO MADE IT POSSIBLE TO KEEP ALL STAFF EMPLOYEES AT PRE-COVID LEVELS. WE WERE ABLE TO DEVELOP PARTNERSHIPS DURING COVID WHICH ALLOWED US TO PROVIDE EXTRA SUPPORT TO OUR TENANTS (FOOD AND MASK DONATIONS). OUR HOUSING PORTFOLIO REMAINED STABLE DESPITE RESTRICTIONS ON OUR ABILITY TO HAVE OUR MAINTENANCE STAFF COMPLETE ANNUAL INSPECTIONS. IN CONJUNCTION WITH THE COVID PANDEMIC, WE RECEIVED LOAN FORBEARANCE ON SEVERAL PROPERTIES FROM THE DEPARTMENT OF COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trudy Soucoup CEO | Officer | 40 | $100,000 |
Mary Roberts President/chair | OfficerTrustee | 1 | $0 |
Ken Pekola Treasurer | OfficerTrustee | 1 | $0 |
Chris Lester Vice President | OfficerTrustee | 1 | $0 |
Thomasina Cooper Secretary | OfficerTrustee | 1 | $0 |
Kai Neizman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $102,014 |
| Related organizations | $0 |
| Government grants | $139,061 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,007 |
| Noncash contributions included in lines 1a–1f | $7,728 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $346,082 |
| Total Program Service Revenue | $952,344 |
| Investment income | $1,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$14,207 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,390,507 |
| 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. | $103,000 |
| Compensation of current officers, directors, key employees. | $103,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $319,579 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $82,472 |
| Payroll taxes | $32,980 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $135,082 |
| Travel | $14,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $99,054 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,337 |
| Insurance | $44,763 |
| All other expenses | $25,309 |
| Total functional expenses | $1,333,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $646,696 |
| Savings and temporary cash investments | $304,956 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,811 |
| 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 | $19,273 |
| Net Land, buildings, and equipment | $8,078,520 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,756 |
| Total assets | $9,105,012 |
| Accounts payable and accrued expenses | $129,698 |
| 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 | $7,566,227 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,695,925 |
| Net assets without donor restrictions | $1,409,087 |
| 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 | $9,105,012 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Homes First has recieved totaling $91,043.
| Awarding Organization | Amount |
|---|---|
Employees Community Fund Of The Boeing Company Chicago, IL PURPOSE: COMMUNITY SUPPORT | $40,000 |
Puget Sound Energy Foundation Wilmington, DE PURPOSE: GENERAL SUPPORT - PSE FOUNDATION SHELTER AND UNHOUSED PROGRAM | $25,000 |
Community Foundation Of South Puget Sound Olympia, WA PURPOSE: OPERATING | $12,989 |
Puget Sound Energy Foundation Wilmington, DE PURPOSE: TENANT NAVIGATOR SUPPORT | $10,000 |
Ludlow Foundation Leavenworth, WA PURPOSE: TO HELP PROVIDE HEALTHY, SAFE AND AFFORDABLE RENTAL HOUSING TO LOW-INCOME INDIVIDUALS | $2,350 |
Finninsula Foundation Inc Greenwich, CT PURPOSE: GENERAL CONTRIBUTION | $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 |