Redmond Elderly Housing Association
- Assets
- $889.4k
- Revenue
- $292.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 11/1984
- Data as of
- 06/2022
- EIN
- 91-1253391
Organization Overview
Redmond Elderly Housing Association is located in Seattle, WA. The organization was established in 1984. 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. Redmond Elderly Housing Association 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 06/2022, Redmond Elderly Housing Association generated $292.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $293.3k during the year ending 06/2022. 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
OPERATE A 32-UNIT APARTMENT COMPLEX TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY & HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REDMOND ELDERLY HOUSING ASSOCIATION WAS ORGANIZED TO ACQUIRE REAL PROPERTY LOCATED IN REDMOND, WASHINGTON, AND TO CONSTRUCT AND OPERATE THEREON A 32-UNIT APARTMENT COMPLEX, DBA EMMA MCREDMOND MANOR (THE PROJECT), TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND HANDICAPPED WHO QUALIFY FOR HOUSING ASSISTANCE PAYMENTS UNDER HUD SECTION 8.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Reichert President Of Ccs/chs & Ex-Officio | OfficerTrustee | 1 | $0 |
Joe Schick Chairman & Treasurer | OfficerTrustee | 1 | $0 |
Chris Jowell Secretary | OfficerTrustee | 1 | $0 |
Jim Defranco Board Member | Trustee | 1 | $0 |
Edgardo Jose Board Member | Trustee | 1 | $0 |
Bob Kolp Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $230,970 |
| 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 | $230,970 |
| Total Program Service Revenue | $65,186 |
| Investment income | $920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,625 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $292,451 |
| 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 | $20,832 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,763 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,786 |
| Information technology | $8,301 |
| Royalties | $0 |
| Occupancy | $70,884 |
| Travel | $162 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $375 |
| Interest | $45,589 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,850 |
| Insurance | $22,461 |
| All other expenses | $0 |
| Total functional expenses | $293,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,715 |
| 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 | $1,463 |
| Net Land, buildings, and equipment | $549,513 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,001 |
| Other assets | $332,754 |
| Total assets | $889,446 |
| Accounts payable and accrued expenses | $5,860 |
| Grants payable | $0 |
| Deferred revenue | $214 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,324 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $676,096 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $133,053 |
| Total liabilities | $820,547 |
| Net assets without donor restrictions | $68,899 |
| 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 | $889,446 |