Olympic Housing Trust
- Assets
- $476.0k
- Revenue
- $149.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Port Townsend, WA
- Founding
- 10/2006
- Data as of
- 12/2023
- EIN
- 61-1497176
Organization Overview
Olympic Housing Trust is located in Port Townsend, WA. The organization was established in 2006. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olympic Housing Trust 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, Olympic Housing Trust generated $149.8k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 28.4% each year . All expenses for the organization totaled $89.6k during the year ending 12/2023. 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
WE WORK TO PROVIDE PERMANENTLY AFFORDABLE HOUSING FOR COMMUNITIES ON THE NORTH OLYMPIC PENINSULA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OHT'S PRIMARY ACTIVITY IS AFFORDABLE HOUSING DEVELOPMENT. OHT IS ACTIVELY ENGAGED IN ONGOING PROJECT MANAGEMENT FOR TWO AFFORDABLE HOUSING CONSTRUCTION PROJECTS: DUNDEE HILL, STARTED IN 2022 AND CHIMACUM COMMONS PROJECT STARTED IN 2023. GOALS OF PROJECT PREDEVELOPMENT ARE TO DESIGN, PLAN, PERMIT, FUND, CONSTRUCT, AND SELL / RENT HOMES TO ELIGIBLE HOUSEHOLDS. PROJECTS TO BE BUILT BY 2026 AND 2027 RESPECTIVELY. OHT HAS ONGOING STEWARDSHIP ACTIVITIES REGARDING THE FOUR LOW-INCOME HOUSEHOLDS IT SERVES CURRENTLY. ON AN ONGOING BASIS, THESE HOMEOWNERS ARE SUPPORTED WITH LEASE PAYMENT MONITORING, SUPPORT IN MAINTENANCE QUESTIONS, AND RESALE QUESTIONS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachael Dunn Treasurer | OfficerTrustee | 2 | $2,293 |
Jesse Thomas President | OfficerTrustee | 2 | $300 |
Kristina Stimpson Director | Trustee | 2 | $300 |
Theodore Howard Secretary | OfficerTrustee | 2 | $0 |
Justine Pratt Director | Trustee | 2 | $0 |
Ben Wilson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,380 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $169,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $172,433 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,177 |
| Net Gain/Loss on Asset Sales | -$23,839 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $149,775 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $800 |
| 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. | $2,893 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,191 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $918 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,721 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $27,232 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,112 |
| Advertising and promotion | $366 |
| Office expenses | $2,351 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,183 |
| Travel | $3,548 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,396 |
| Insurance | $5,226 |
| All other expenses | $658 |
| Total functional expenses | $89,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,346 |
| Savings and temporary cash investments | $11,429 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $325 |
| 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 | $0 |
| Net Land, buildings, and equipment | $276,920 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $476,020 |
| Accounts payable and accrued expenses | $15,389 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,389 |
| Net assets without donor restrictions | $460,631 |
| 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 | $476,020 |