Washington Community Reinvestment Association
- Assets
- $128.5m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 7
- Location
- Seattle, WA
- Founding
- 06/1996
- Data as of
- 09/2023
- EIN
- 91-1522679
Organization Overview
Washington Community Reinvestment Association is located in Seattle, WA. The organization was established in 1996. According to its NTEE Classification (N20) the organization is classified as: Camps, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Washington Community Reinvestment Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Community Reinvestment 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 09/2023, Washington Community Reinvestment Association generated $6.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $6.6m during the year ending 09/2023. While expenses have increased by 1.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN WASHINGTON STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PERMANENT FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING AND REALTY-BASED ECONOMIC DEVELOPMENT IN WASHINGTON. ESTABLISHED TO ASSIST POTENTIAL BORROWERS IN OBTAINING PERMANENT FINANCING FOR MULTI-FAMILY PROJECTS VIA LOANS PARTICIPATED IN BY WCRA'S MEMBERS.
THE WELL PROGRAM IS A STATE FUNDED PROGRAM TO PROVIDE TECHNICAL ASSISTANCE, LOANS AND GRANTS TO EARLY LEARNING AND CHILDCARE PROVIDERS ACROSS THE STATE OF WASHINGTON. THE WCRA ADMINISTERS THE PROGRAM AND PROVIDES LENDING TECHNICAL ASSISTANCE, LOAN UNDERWRITING AND MANAGEMENT, PARTNERING WITH OTHER NONPROFITS WHO PROVIDE TECHNICAL ASSISTANCE AND GRANT FUNDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Duren President (thru 6/23) | OfficerTrustee | 40 | $215,827 |
Dulcie Claassen Vice President (thru 07/23) | Officer | 40 | $177,654 |
Angel Ratliff Vice President | Officer | 40 | $105,420 |
Christine Roveda Chair (thru 06/23), President | OfficerTrustee | 0.5 | $0 |
Bob Powers Interim Chair | OfficerTrustee | 0.5 | $0 |
Jay Coleman Secretary (thru 02/23) | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,500 |
| Total Program Service Revenue | $6,759,305 |
| Investment income | $62,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $6,829,552 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $494,141 |
| Compensation of current officers, directors, key employees. | $113,652 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,132 |
| Pension plan accruals and contributions | $137,603 |
| Other employee benefits | $63,447 |
| Payroll taxes | $60,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,472 |
| Fees for services: Accounting | $50,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $615,336 |
| Advertising and promotion | $5,684 |
| Office expenses | $40,185 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,275 |
| Travel | $5,128 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,067 |
| Interest | $4,615,183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,364 |
| Insurance | $48,882 |
| All other expenses | $9,553 |
| Total functional expenses | $6,582,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,112,180 |
| Savings and temporary cash investments | $2,343,604 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $610,643 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,639,917 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $111,559 |
| Net Land, buildings, and equipment | $4,882 |
| Investments—publicly traded securities | $561 |
| Investments—other securities | $0 |
| Investments—program-related | $110,330,187 |
| Intangible assets | $0 |
| Other assets | $390,150 |
| Total assets | $128,543,683 |
| Accounts payable and accrued expenses | $271,698 |
| Grants payable | $12,652,431 |
| 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 | $108,811,383 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $849,259 |
| Total liabilities | $122,584,771 |
| Net assets without donor restrictions | $5,958,912 |
| 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 | $128,543,683 |
Grants Awarded
Over the last fiscal year, Washington Community Reinvestment Association has awarded $21,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
IMPACT CAPITAL PURPOSE: Affordable Housing | $5,000 |
WASHINGTON LOW INCOME HOUSING ALLIANCE PURPOSE: Affordable Housing | $5,500 |
WASHINGTON LOW INCOME HOUSING ALLIANCE PURPOSE: Affordable Housing | $5,500 |
IMPACT CAPITAL PURPOSE: Affordable Housing | $5,000 |