Loyal Heights Manor
- Assets
- $7.0m
- Revenue
- $903.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Everett, WA
- Founding
- 12/1978
- Data as of
- 03/2022
- EIN
- 91-1044719
Organization Overview
Loyal Heights Manor is located in Everett, WA. The organization was established in 1978. 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. Loyal Heights Manor 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 03/2022, Loyal Heights Manor generated $903.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.1m during the year ending 03/2022. While expenses have increased by 9.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR ELDERLY OR DISABILED PERSONS TO MEET THEIR PHYSICAL AND SOCIAL NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOYAL HEIGHTS IS A NON-PROFIT WASHINGTON STATE CORPORATION INCORPORATED ON OCTOBER 4, 1978, WHICH HOLDS LEGAL TITLE TO THE PROJECT. THE PROJECT IS A 54-UNIT APARTMENT COMPLEX FOR LOW-INCOME ELDERLY AND PERSONS OF DISABILITY LOCATED IN SEATTLE, WASHINGTON. THE PROJECT IS OPERATED UNDER HOUSING AND URBAN DEVELOPMENT (HUD) SECTION 202 AND SECTION 8. THE PROJECT'S MAJOR PROGRAM IS ITS SECTION 202 DIRECT LOAN PROGRAM. THE PROJECT ALSO IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD.
PROVIDE ASSISTANCE TO ELDERLY AND MISSIONARIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Reetz President | OfficerTrustee | 1 | $0 |
Amy Turnbull Secretary | OfficerTrustee | 1 | $0 |
Lars Eggehorn Treasurer | OfficerTrustee | 1 | $0 |
Jim Bostad Vice President | OfficerTrustee | 1 | $0 |
Roger Dahl Director | Trustee | 1 | $0 |
Samuel Brodland Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $769,292 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $769,292 |
| Total Program Service Revenue | $229,109 |
| Investment income | $1,767 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$96,426 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $903,742 |
| 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 | $193,911 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,648 |
| Payroll taxes | $18,492 |
| Fees for services: Management | $51,341 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $106 |
| Office expenses | $21,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $569,499 |
| Travel | $164 |
| 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 | $155,405 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,128,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $834,454 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,628 |
| 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 | $23,190 |
| Net Land, buildings, and equipment | $1,842,580 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,224,904 |
| Total assets | $6,957,756 |
| Accounts payable and accrued expenses | $48,155 |
| Grants payable | $0 |
| Deferred revenue | $362 |
| 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 | $7,533,231 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,763 |
| Total liabilities | $7,601,511 |
| Net assets without donor restrictions | -$643,755 |
| 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 | $6,957,756 |
Peer Organizations
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|---|---|---|
Northwest Housing Alternatives Inc Milwaukie, OR | $66,415,282 | $18,428,543 |
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 |