Homeownership Center Of Tacoma
- Assets
- $2.8m
- Revenue
- $893.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Tacoma, WA
- Founding
- 07/1994
- Data as of
- 06/2022
- EIN
- 91-1604011
Organization Overview
Homeownership Center Of Tacoma is located in Tacoma, WA. The organization was established in 1994. 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. As of 06/2022, Homeownership Center Of Tacoma employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homeownership Center Of Tacoma 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, Homeownership Center Of Tacoma generated $893.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 years. 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 REHABILITATE AND CONSTRUCT HOMES FOR SALE TO FIRST-TIME, LOW-INCOME HOME BUYERS IN WASHINGTON STATE. COUNSELING IS ALSO PROVIDED TO FIRST-TIME HOME BUYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMEOWNERSHIP - AS PART OF THE HOMEOWNERSHIP PROGRAM, WE CONSTRUCT AND REHAB AFFORDABLE HOMES FOR PURCHASE, PREPARING POTENTIAL LOW-MODERATE INCOME BUYERS THROUGH FINANCIAL COUNSELING AND HOMEBUYER EDUCATION, AND SELL AFFORDABLE HOMES TO QUALIFIED BUYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Puszczewicz Executive Director | Officer | 40 | $105,060 |
Dolly Small Interim Executive Director | Officer | 40 | $82,600 |
Amber Osland Board Member (through May 2022) | Trustee | 2 | $0 |
Alanna Rodgers Board Member (through August 2021) | Trustee | 2 | $0 |
David Hayes Board Member (through June 6, 2022) | Trustee | 2 | $0 |
Juliane Stephens Board Member (through September 2021) | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $183,563 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,113 |
| Total Program Service Revenue | $693,424 |
| Investment income | $303 |
| 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 | $893,072 |
| 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. | $170,987 |
| Compensation of current officers, directors, key employees. | $69,115 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,107 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,271 |
| Payroll taxes | $23,330 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $800 |
| Fees for services: Accounting | $35,735 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $254,501 |
| Advertising and promotion | $808 |
| Office expenses | $43,096 |
| Information technology | $6,877 |
| Royalties | $0 |
| Occupancy | $30,441 |
| Travel | $1,947 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,312 |
| Insurance | $9,100 |
| All other expenses | $487,378 |
| Total functional expenses | $1,136,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,066 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $104,588 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $657,245 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,570 |
| Net Land, buildings, and equipment | $75,293 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,809,581 |
| Total assets | $2,806,343 |
| Accounts payable and accrued expenses | $33,722 |
| Grants payable | $0 |
| Deferred revenue | $30,319 |
| 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 | $2,709,565 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,773,606 |
| Net assets without donor restrictions | -$447,263 |
| Net assets with donor restrictions | $480,000 |
| 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 | $2,806,343 |