Low Income Housing Institute
- Assets
- $253.9m
- Revenue
- $49.4m
- Investments
- $0.0
- Employees
- 328
- Location
- Seattle, WA
- Founding
- 01/1997
- Data as of
- 12/2021
- EIN
- 94-3155150
Organization Overview
Low Income Housing Institute is located in Seattle, WA. The organization was established in 1997. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2021, Low Income Housing Institute employed 328 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Low Income Housing Institute 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 12/2021, Low Income Housing Institute generated $49.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $36.0m during the year ending 12/2021. While expenses have increased by 16.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LOW INCOME HOUSING INSTITUTE DEVELOPS, OWNS AND OPERATES HOUSING FOR THE BENEFIT OF LOW-INCOME, HOMELESS AND FORMERLY HOMELESS PEOPLE; ADVOCATES FOR JUST HOUSING POLICIES AT THE LOCAL AND NATIONAL LEVELS; AND ADMINISTERS A RANGE OF SUPPORTIVE SERVICE PROGRAMS TO ASSIST THOSE WE SERVE IN MAINTAINING STABLE HOUSING AND INCREASING THEIR SELF-SUFFICIENCY.
Describe the Organization's Program Activity:
URBAN REST STOP - HYGIENE CENTER FOR THE HOMELESS PROVIDING 29,061 SHOWERS, 14,167 LAUNDRY LOADS, AND RESTROOM USES TO 9,358 INDIVIDUAL PEOPLE.
HOUSING SERVICES - OWN OR MANAGE LOW-INCOME AND TRANSITIONAL HOUSING PROJECTS TOTALING MORE THAN 2,451 UNITS.
SHELTER PROGRAM - TECHNICAL ASSISTANCE, MANAGEMENT ASSISTANCE, ADVOCACY, CASE MANAGEMENT, AND FUNDRAISING FOR 1400 HOMELESS PEOPLE LIVING IN TENTS, TINY HOUSES AT 15 VILLAGES, AND 3 ENHANCED SHELTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon H Lee Executive Director | Officer | 40 | $253,462 |
Lynne Behar Chief Financial Officer | Officer | 40 | $177,622 |
John Syverson Facilities Director | 40 | $124,987 | |
Leigh Coleman Director Of Housing Manage | 40 | $120,150 | |
Ralph Neis Director Of Special Projects And Operations | 40 | $108,337 | |
Bradley Reuling Housing Developer Manager | 40 | $105,956 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Walsh Construction Cowa Construction Contractor Services | 12/30/21 | $20,843,267 |
Runberg Architecture Group Pllc Architect Services | 12/30/21 | $828,257 |
Metis Construction Construction Contractor Services | 12/30/21 | $634,188 |
Abatement & Decontamination Environmental Abatement Services | 12/30/21 | $594,191 |
Operation Sack Lunch Daily Meal Services | 12/30/21 | $580,417 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $252,974 |
| Related organizations | $0 |
| Government grants | $23,011,444 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,851,857 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,116,275 |
| Total Program Service Revenue | $17,069,829 |
| Investment income | $613,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,792 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,435,203 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,775 |
| 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. | $1,152,158 |
| Compensation of current officers, directors, key employees. | $62,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,836,205 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,544,972 |
| Payroll taxes | $1,364,958 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,368,765 |
| Advertising and promotion | $0 |
| Office expenses | $2,123,434 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,014,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,607,902 |
| Insurance | $0 |
| All other expenses | $1,490,397 |
| Total functional expenses | $36,002,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,130,950 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,586,098 |
| 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 | $3,193,507 |
| Net Land, buildings, and equipment | $180,749,758 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,534,866 |
| Intangible assets | $1,287,874 |
| Other assets | $37,394,540 |
| Total assets | $253,877,593 |
| Accounts payable and accrued expenses | $3,532,835 |
| Grants payable | $0 |
| Deferred revenue | $4,890,932 |
| 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 | $53,403,435 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $98,872,868 |
| Total liabilities | $160,700,070 |
| Net assets without donor restrictions | $90,866,468 |
| Net assets with donor restrictions | $2,311,055 |
| 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 | $253,877,593 |
Grants Awarded
Over the last fiscal year, Low Income Housing Institute has awarded $22,050 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: TO FURTHER THE MISSION OF THE FOUNDATION | $13,500 |
JOSH OKRENT DBA PUNK ROCK FLEA MARKET PURPOSE: TO FURTHER THE MISSION OF THE FOUNDATION | $8,550 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Low Income Housing Institute has recieved totaling $4,200.
| Awarding Organization | Amount |
|---|---|
Crowley Cares Foundation Wilmington, DE PURPOSE: CES VOLUNTEER DAY AT SOUND FOUNDATIONS NW BUILDING FOR LOW INCOME HOUSING INSTITUTE | $4,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions In The State Of Washington Richland, WA | $2,255,622,236 | $118,353,811 |
Arctic Slope Native Association Ltd Barrow, AK | $299,522,566 | $117,427,222 |
Valley Charities Inc Wasilla, AK | $2,675,483 | $86,387,328 |
Compass Health Everett, WA | $49,121,108 | $74,131,042 |
Low Income Housing Institute Seattle, WA | $253,877,593 | $49,435,203 |
Copper River Native Association Copper Center, AK | $37,611,985 | $29,435,235 |
Starbucks Foundation Seattle, WA | $35,732,232 | $14,000,443 |
Self Enhancement Inc Portland, OR | $28,150,324 | $38,753,460 |
Albina Head Start Inc Portland, OR | $22,611,624 | $19,457,720 |
Orbis Cascade Alliance Portland, OR | $8,013,554 | $17,694,791 |
Independent Order Of Odd Fellows Walla Walla, WA | $17,889,942 | $20,108,315 |
Options Counseling Services Of Oregon Eugene, OR | $12,586,092 | $15,957,358 |