Housing Resources Bainbridge
- Assets
- $9.3m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 15
- Location
- Bainbridge Island, WA
- Founding
- 10/1994
- Data as of
- 12/2023
- EIN
- 95-0068013
Organization Overview
Housing Resources Bainbridge is located in Bainbridge Island, WA. The organization was established in 1994. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Housing Resources Bainbridge employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Resources Bainbridge 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 12/2023, Housing Resources Bainbridge generated $1.9m 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 (8.4%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF HRB IS TO PRESERVE THE DIVERSITY AND VITALITY OF BAINBRIDGE ISLAND BY PROVIDING AND MAINTAINING AFFORDABLE HOUSING OPPORTUNITIES IN THE COMMUNITY. HRB ENVISIONS A DIVERSE COMMUNITY WHERE THERE ARE HOMES AFFORDABLE TO ALL. WORKING TO ACCOMPLISH THIS, HRB DEVELOPS HOUSING FOR AND PROVIDES HOUSING-RELATED SERVICES FOR LOW-INCOME AND MODERATE-INCOME FAMILIES AND INDIVIDUALS ON BAINBRIDGE ISLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL HOUSING - HRB OWNS AND MANAGES SEVEN RESIDENTIAL PROPERTIES, AND IS THE MANAGING MEMBER OF WINSLOW TERRACE LLC, WHICH OWNS ONE RESIDENTIAL PROPERTY, FOR A COMBINED TOTAL OF 90 RENTAL UNITS OF AFFORDABLE HOUSING.
TENANT & COMMUNITY RESOURCES - HRB PROVIDES ASSISTANCE, RESOURCES AND REFERRALS TO FAMILIES AND INDIVIDUALS IN NEED OF HOUSING SOLUTIONS.
HOMEOWNERSHIP - PERMANENTLY AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES AT HRB INCLUDE 40 HOMES AT FERNCLIFF VILLAGE, 1 CONDOMINIUM UNIT AT VINEYARD LANE, 2 UNITS AT SPARROWS CONDOMINIUMS, AND 2 UNITS AT WALLACE COTTAGES.
INDEPENDENT LIVING - HRB ASSISTS INDIVIDUALS WITH SPECIALIZED NEEDS TO MAKE NECESSARY IMPROVEMENTS TO THEIR HOMES SO THEY MAY CONTINUE TO LIVE INDEPENDENTLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norm Landry Chair | OfficerTrustee | 4 | $0 |
Stephanie Farquhar Past Chair | OfficerTrustee | 2 | $0 |
Asaph Glosser Secretary | OfficerTrustee | 4 | $0 |
Bruce Eremic Treasurer | OfficerTrustee | 4 | $0 |
Craig Clark Director | Trustee | 2 | $0 |
Tina Gilbert Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $373,357 |
| Related organizations | $0 |
| Government grants | $109,572 |
| All other contributions, gifts, grants, and similar amounts not included above | $474,730 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $957,659 |
| Total Program Service Revenue | $866,839 |
| Investment income | $65,152 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$13,559 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,876,091 |
| 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 | $695,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,268 |
| Payroll taxes | $58,127 |
| Fees for services: Management | $4,094 |
| Fees for services: Legal | $15,752 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,855 |
| Advertising and promotion | $0 |
| Office expenses | $27,372 |
| Information technology | $60,942 |
| Royalties | $0 |
| Occupancy | $49,056 |
| Travel | $3,112 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,405 |
| Interest | $9,571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $158,330 |
| Insurance | $29,751 |
| All other expenses | $34,049 |
| Total functional expenses | $1,818,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $545,542 |
| Savings and temporary cash investments | $2,509,141 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,411 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $138,367 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,204 |
| Net Land, buildings, and equipment | $5,688,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $344,788 |
| Total assets | $9,332,842 |
| Accounts payable and accrued expenses | $55,153 |
| Grants payable | $15,000 |
| Deferred revenue | $5,653 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $201,191 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $695,465 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $234,486 |
| Total liabilities | $1,206,948 |
| Net assets without donor restrictions | $6,381,016 |
| Net assets with donor restrictions | $1,744,878 |
| 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 | $9,332,842 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oregon Energy Fund Portland, OR | $4,269,435 | $2,999,107 |
Snap Financial Access Spokane, WA | $15,138,409 | $3,295,988 |
Housing Resources Bainbridge Bainbridge Island, WA | $9,332,842 | $1,876,091 |
Helping Hands Team Milton, WA | $1,226,199 | $1,340,617 |
Whatcom-Skagit Housing Ferndale, WA | $7,782,951 | $981,443 |
Nhs Lending Inc Boise, ID | $5,384,938 | $349,856 |
Oregon Training Institute Salem, OR | $39,132 | $146,284 |
Wood River Community Housing Trust Inc Ketchum, ID | $2,309,310 | $253,241 |
Community Housing Services Albany, OR | $0 | $122,045 |
Northwest Community Housing Foundation Inc Portland, OR | $102,079 | $0 |
Fortify Families Beaverton, OR | $21 | $0 |