Housing Lopez
- Assets
- $2.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Lopez Island, WA
- Founding
- 10/2018
- Data as of
- 12/2021
- 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 12/2021, Housing Lopez generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 56.3% each year . All expenses for the organization totaled $29.0k during the year ending 12/2021. 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
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
FISH BAY PROJECT: COMPLETED DEVELOPMENT AND CONSTRUCTION OF SIX MODULAR RENTAL UNITS. RECEIVED OCCUPANCY PERMIT 11 19-2021. EACH COTTAGE (UNIT) IS 843 SQUARE FEET, WITH 2 BEDROOMS AND 1 BATHROOM. FIVE OF THE SIX UNITS WERE OCCUPIED BY THE END OF THE YEAR (THE SIXTH UNIT WAS RENTED EARLY IN 2022.) 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 ARE STILL IN PROGRESS AND WILL BE COMPLETED IN 2022. THE PROJECT IS SELF-SUSTAINING ANDPERMANENTLY DEDICATED TO AFFORDABLE RENTAL HOUSING. NOW THAT THE CONSTRUCTION PHASE OF THE PROJECT IS COMPLETE (WITH THE EXCEPTION OF SOME ADDITIONAL LANDSCAPING AND THE COMPLETION OF THE STORAGE SHEDS), THE ONGOING OPERATIONS FOR THIS SITE WILL BE KNOWN AS FISH BAY COTTAGES.
THERE HAS BEEN NO CHANGE WITH PROJECT M DURING 2021 AS THE OWNER WAS NOT READY TO SELL YET. HOUSING LOPEZ CONTINUES TO HAVE A RIGHT OF FIRST REFUSAL AT THE TIME THAT THE PROPERTY BECOMES AVAILABLE. HOUSING LOPEZ CONTINUES TO DO OUTREACH TO PROPERTY OWNERS ABOUT THE POTENTIAL PURCHASE OF OTHER PARCELS IN LOPEZ VILLAGE WHICH ALLOWS HIGHER DENSITY AFFORDABLE RENTAL HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Taylor Co Chair | OfficerTrustee | 3 | $0 |
Melora Hiller Co Chair | OfficerTrustee | 3 | $0 |
Linda Floodeen Treasurer | OfficerTrustee | 3 | $0 |
Barbara Schultheiss Secretary | OfficerTrustee | 3 | $0 |
Jeffrey Daggett Director | Trustee | 0 | $0 |
Bill Johnson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $600,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $599,106 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,199,106 |
| Total Program Service Revenue | $0 |
| Investment income | $67 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,130 |
| 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 | $1,205,303 |
| 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 | $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 | $240 |
| Advertising and promotion | $2,101 |
| Office expenses | $3,180 |
| Information technology | $274 |
| Royalties | $0 |
| Occupancy | $2,722 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,991 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,871 |
| All other expenses | $0 |
| Total functional expenses | $29,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,465 |
| Savings and temporary cash investments | $78,099 |
| 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 | $1,475 |
| Net Land, buildings, and equipment | $2,095,263 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,287,302 |
| 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 | $597,398 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,300 |
| Total liabilities | $603,698 |
| Net assets without donor restrictions | $1,683,604 |
| 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 | $2,287,302 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Housing Lopez has recieved totaling $760,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $545,000 |
The Seattle Foundation Seattle, WA PURPOSE: TO PROVIDE GENERAL SUPPORT; TO SUPPORT THE ACQUISITION FUND; LANDSCAPE SUPPORT; FISH BAY PROJECT | $200,000 |
Bishop Fam Foundation Tr Agreement Seattle, WA PURPOSE: TO HELP FUND GENERAL CHARITABLE OPERATIONS | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Habitat For Humanity International Inc Bend, OR | $14,216,100 | $11,437,404 |
Innovative Housing Inc Portland, OR | $72,167,425 | $8,053,529 |
Rose Community Development Corporation Portland, OR | $45,929,125 | $4,147,023 |
Columbia Cascade Housing Corporation The Dalles, OR | $26,545,459 | $3,977,861 |
Community Partners For Affordable Housing Tigard, OR | $29,986,925 | $5,745,574 |
Homeownership Center Of Tacoma Tacoma, WA | $2,760,083 | $2,293,969 |
Supportive Housing And Innovative Partnerships Inc Boise, ID | $1,739,165 | $2,561,877 |
Golden Opportunity Living Development Tacoma, WA | $5,413,206 | $1,758,342 |
Southeast Seattle Senior Foundation Seattle, WA | $6,759,619 | $1,644,540 |
Council House Inc Seattle, WA | $4,818,293 | $2,290,756 |
Eastside Home Association Bellevue, WA | $4,294,550 | $1,391,091 |
Christian Church Homes Of Washington Tacoma, WA | $10,741,408 | $1,240,502 |