Low Income Housing Institute
- Assets
- $349.4m
- Revenue
- $75.6m
- Investments
- $0.0
- Employees
- 546
- Location
- Seattle, WA
- Founding
- 01/1997
- Data as of
- 12/2022
- EIN
- 94-3155150
Organization Overview
Low Income Housing Institute is located in Seattle, WA. The organization was established in 1997. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2022, Low Income Housing Institute employed 546 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Low Income Housing Institute 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 12/2022, Low Income Housing Institute generated $75.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $52.1m during the year ending 12/2022. While expenses have increased by 19.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LOW INCOME HOUSING INSTITUTE DEVELOPS, OWNS AND OPERATES HOUSING FOR THE BENEFIT OF LOW-INCOME, HOMELESS AND FORMERLY HOMELESS PEOPLE; ADVOCATES FOR JUST HOUSING POLICIES AT THE LOCAL AND NATIONAL LEVELS; AND ADMINISTERS A RANGE OF SUPPORTIVE SERVICE PROGRAMS TO ASSIST THOSE WE SERVE IN MAINTAINING STABLE HOUSING AND INCREASING THEIR SELF-SUFFICIENCY.
Describe the Organization's Program Activity:
URBAN REST STOP - HYGIENE CENTERS FOR THE HOMELESS PROVIDING 22,669 SHOWERS, 11,042 LAUNDRY LOADS, AND REST ROOM USES TO AROUND 7,299 UNDUPLICATED INDIVIDUALS.
HOUSING SERVICES - OWN OR MANAGE LOW-INCOME AND TRANSITIONAL HOUSING PROJECTS TOTALING MORE THAN 2,764 UNITS.
SHELTER PROGRAM - TECHNICAL ASSISTANCE, MANAGEMENT ASSISTANCE, ADVOCACY, CASE MANAGEMENT, AND FUNDRAISING FOR OVER 2000 HOMELESS PEOPLE LIVING IN TENTS, TINY HOUSES AT 19 VILLAGES, AND 3 ENHANCED SHELTERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Nichols President | OfficerTrustee | 1 | $0 |
Cathy Danigelis Vice President | OfficerTrustee | 0.5 | $0 |
Nancy Bennett Evans Secretary | OfficerTrustee | 0.5 | $0 |
Pearl Leung Director | Trustee | 0.5 | $0 |
Linda Battles Director | Trustee | 0.5 | $0 |
Bryan M Park Treasurer | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Exxel Pacific Inc Construction Contractor Services | 12/30/22 | $5,990,320 |
Walsh Construction Co - Wa Construction Contractor Services | 12/30/22 | $3,181,452 |
Buchanan General Contracting Company Construction Contractor Services | 12/30/22 | $5,038,459 |
Weber Thompson Architects Pllc Architect Services | 12/30/22 | $1,447,565 |
Uplift Northwest Non-profit Temporary Staffing Services | 12/30/22 | $1,459,932 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $327,889 |
| Related organizations | $0 |
| Government grants | $45,632,759 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,357,453 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,318,101 |
| Total Program Service Revenue | $18,309,473 |
| Investment income | $632,131 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,100 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,635,152 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,295 |
| 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. | $1,152,159 |
| Compensation of current officers, directors, key employees. | $91,959 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,231,483 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,091,345 |
| Payroll taxes | $1,885,917 |
| 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 | $7,789,874 |
| Advertising and promotion | $0 |
| Office expenses | $3,080,395 |
| 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 | $0 |
| Interest | $2,652,569 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,802,777 |
| Insurance | $0 |
| All other expenses | $1,286,147 |
| Total functional expenses | $52,079,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,827,316 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,069,531 |
| 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 | $1,782,309 |
| Net Land, buildings, and equipment | $275,930,163 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,594,448 |
| Intangible assets | $1,021,542 |
| Other assets | $45,216,283 |
| Total assets | $349,441,592 |
| Accounts payable and accrued expenses | $3,484,327 |
| Grants payable | $0 |
| Deferred revenue | $4,743,586 |
| 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 | $92,983,380 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $125,881,650 |
| Total liabilities | $227,092,943 |
| Net assets without donor restrictions | $119,092,074 |
| Net assets with donor restrictions | $3,256,575 |
| 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 | $349,441,592 |
Grants Awarded
Over the last fiscal year, Low Income Housing Institute has awarded $22,050 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
JOSH OKRENT DBA PUNK ROCK FLEA MARKET PURPOSE: TO FURTHER THE MISSION OF THE FOUNDATION | $8,550 |
MING YA BUDDHIST FOUNDATION OF SEATTLE PURPOSE: TO FURTHER THE MISSION OF THE FOUNDATION | $13,500 |