Housing Lopez
- Assets
- $3.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Lopez Island, WA
- Founding
- 10/2018
- Data as of
- 12/2022
- EIN
- 83-1734958
Organization Overview
Housing Lopez is located in Lopez Island, WA. The organization was established in 2018. 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. Housing Lopez 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, Housing Lopez generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 48.6% each year . All expenses for the organization totaled $201.6k during the year ending 12/2022. While expenses have increased by 50.5% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING LOPEZ IS A NON-PROFIT ORGANIZATION DEDICATED TO SOLVING THE RENTAL HOUSING CRISIS ON LOPEZ ISLAND BY DEVELOPING DEDICATED, AFFORDABLE, SUSTAINABLE RENTAL HOUSING COMMUNITIES.(SEE SCHEDULE O FOR THE FULL MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FISHBAY PROJECT (FISHBAY COTTAGES): COMPRISED OF SIX MODULAR RENTAL UNITS. EACH COTTAGE (UNIT) IS 843 SQUARE FEET, WITH 2 BEDROOMS AND 1 BATHROOM. ALL SIX OF THE UNITS WERE OCCUPIED AT THE END OF THE YEAR. THREE OF THE UNITS ARE LOW INCOME HOUSING AND THREE OF THE UNITS ARE MODERATE INCOME HOUSING, AS REQUIRED AND DEFINED BY SAN JUAN COUNTY. STORAGE SHEDS FOR THE UNITS WERE COMPLETED IN 2022. THE PROJECT IS SELF-SUSTAINING AND PERMANENTLY DEDICATED TO AFFORDABLE RENTAL HOUSING. ADDITIONAL LANDSCAPING IS IN PROGRESS FOR 2023 AND AN ADDITIONAL STORAGE SHED FOR THE ORGANIZATION IS PLANNED
VILLAGE NORTH PROJECT: IN JULY OF 2022 HOUSING LOPEZ PURCHASED THREE PARCELS IN LOPEZ VILLAGE FOR $1.15 MILLION FOR OUR SECOND AFFORDABLE RENTAL HOUSING PROJECT. THE SITE WILL BE DEVELOPED IN THREE STAGES. OVERALL PLANS ARE FOR 45 AFFORDABLE RENTAL HOUSING UNITS. IN 2022 HOUSING LOPEZ PROCEEDED WITH SITE ASSESSMENT, WETLANDS SURVEYS, ENVIRONMENTAL STUDIES, SCHEMATIC AND ARCHITECTURAL DESIGN, AND COMMUNITY MEETINGS. WE ARE PROCEEDING WITH THE SAN JUAN COUNTY PERMIT PROCESS. CONSTRUCTION FOR PHASE 1 IS EXPECTED TO BEGIN IN 2024.
PROJECT M: DURING 2022 HOUSING LOPEZ WAIVED ITS RIGHT OF FIRST REFUSAL AND IS NO LONGER PURSUING PLANS TO DEVELOP AFFORDABLE HOUSING AT THE SITE REFERENCED AS PROJECT M IN THE 2021 FORM 990.
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 |
|---|---|---|---|
Richard Manderbach Director | Trustee | 3 | $0 |
Jeffrey Daggett Former Director | Trustee | 0 | $0 |
Bill Johnson Director | Trustee | 2 | $0 |
Steve Van Vleet Director | Trustee | 1 | $0 |
Linda Floodeen Assistant Treasurer | OfficerTrustee | 3 | $0 |
Doug Bowen Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,721 |
| Related organizations | $0 |
| Government grants | $5,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,447,339 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,454,060 |
| Total Program Service Revenue | $0 |
| Investment income | $9,400 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $78,217 |
| 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 | $1,541,677 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $440 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,057 |
| Office expenses | $10,386 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,702 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,267 |
| Insurance | $6,157 |
| All other expenses | $0 |
| Total functional expenses | $201,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $295,306 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $6,341 |
| Net Land, buildings, and equipment | $3,257,120 |
| Investments—publicly traded securities | $59,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,618,127 |
| Accounts payable and accrued expenses | $0 |
| 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 | $586,726 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,700 |
| Total liabilities | $594,426 |
| Net assets without donor restrictions | $3,023,701 |
| 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 | $3,618,127 |