Ch Development Association
- Assets
- $27.2m
- Revenue
- $189.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 01/2002
- Data as of
- 12/2022
- EIN
- 91-2032882
Organization Overview
Ch Development Association is located in Seattle, WA. The organization was established in 2002. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Ch Development 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 12/2022, Ch Development Association generated $189.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (26.5%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. 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
CH DEVELOPMENT ASSOCIATION'S PURPOSE IS TO SUPPORT COMMUNITY ROOTS HOUSING IN ITS MISSION TO MEET THE NEED FOR AFFORDABLE HOUSING WHILE PRESERVING NEIGHBORHOOD CHARACTER IN SEATTLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CH DEVELOPMENT ASSOCIATION (CHDA) HELPS PRESERVE AFFORDABLE HOUSING BY ASSUMING OWNERSHIP INTERESTS IN LIMITED PARTNERSHIPS OWNING LOW INCOME, MULTI-FAMILY HOUSING UPON THE EXIT OF THE FOR-PROFIT INVESTORS. TO DATE, CH DEVELOPMENT ASSOCIATION HAS REPLACED THE INVESTOR LIMITED PARTNER IN 13 PARTNERSHIPS PRESERVING 372 UNITS. CHDA ALSO HAS AN OWNERSHIP INTEREST IN 13 OTHER LEGAL ENTITIES ESTABLISHED FOR THE DEVELOPMENT OR REHABILITATION OF AFFORDABLE HOUSING IN THE GREATER SEATTLE AREA.CHDA ALSO DIRECTLY OWNS 3 LIMITED LIABILITY COMPANIES TO OPERATE LOW-INCOME RENTAL HOUSING PROPERTIES WHICH WERE REHABILITATED IN 2021 AND 2022. THIS INCLUDES 49 UNITS AT BREMER APARTMENTS, 30 UNITS AT BOYLSTON HOWELL APARTMENTS, AND 27 UNITS AT JOHN CARNEY APARTMENTS. THIS OWNERSHIP SUPPORTS COMMUNITY ROOTS HOUSING.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Persons CEO | OfficerTrustee | 0.1 | $0 |
Paul Breckenridge President | OfficerTrustee | 1 | $0 |
Frank F Alvarado III Vice President/treasurer | OfficerTrustee | 1 | $0 |
Eric Snow Secretary | OfficerTrustee | 1 | $0 |
Bob Fikso Director | Trustee | 1 | $0 |
Leslie Woodworth Vice President Of Finance | Officer | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $327,006 |
| 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 | $327,006 |
| Total Program Service Revenue | -$141,558 |
| Investment income | $356 |
| 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 | $189,750 |
| 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 | $148,989 |
| Pension plan accruals and contributions | $2,648 |
| Other employee benefits | $29,843 |
| Payroll taxes | $15,776 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $400 |
| Fees for services: Accounting | $50,030 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,617 |
| Advertising and promotion | $841 |
| Office expenses | $18,957 |
| Information technology | $12,329 |
| Royalties | $0 |
| Occupancy | $160,936 |
| Travel | $533 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $212,010 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $744,702 |
| Insurance | $59,201 |
| All other expenses | $4,120 |
| Total functional expenses | $1,685,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $600,523 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $714,655 |
| Accounts receivable, net | $89,661 |
| 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 | $11,218 |
| Net Land, buildings, and equipment | $27,728,570 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$2,406,536 |
| Intangible assets | $5,190 |
| Other assets | $503,550 |
| Total assets | $27,246,831 |
| Accounts payable and accrued expenses | $196,862 |
| Grants payable | $0 |
| Deferred revenue | $19,733 |
| 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 | $23,443,390 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $432,750 |
| Total liabilities | $24,092,735 |
| Net assets without donor restrictions | $3,154,096 |
| 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 | $27,246,831 |
Grants Awarded
Over the last fiscal year, Ch Development Association has awarded $412,944 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY ROOTS HOUSING PURPOSE: EQUITY DISTRIBUTIONS FROM LP INVESTMENTS TO FUND OPERATIONS | $220,000 |
TWELFTH AVENUE ARTS ASSOCIATION PURPOSE: ENTITY DISSOLUTION, OPERATION ASSUMPTIONS | $192,944 |