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← CASCADE HOUSING ASSOCIATION

Form 990 for tax year 2023

Filed by CASCADE HOUSING ASSOCIATION.

Totals

Total revenue
$14,861,897
Total expenses
$15,181,125
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,980,067
Investment income
$881,830
Other revenue
$0
Total assets, end of year
$85,818,531
Total liabilities, end of year
$68,588,371
Net assets or fund balances, end of year
$17,230,160
Program services expenses (Part IX)
$15,020,193
Management and general expenses
$160,932
Fundraising expenses
$0
Program service expenses (Part III)
$15,020,193

Program services were 98.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTAL INCOME

    total $13,408,892 · related or exempt $13,408,892

  • 2b · Program service revenue: TENANT CHARGES

    total $331,288 · related or exempt $331,288

  • 2c · Program service revenue: INCENTIVE MANAGMENT FEE INCOM

    total $83,386 · related or exempt $83,386

  • 2d · Program service revenue: TAX CREDIT COMPLIANCE FEE INC

    total $69,533 · related or exempt $69,533

  • 2e · Program service revenue: MANAGEMENT FEE INCOME

    total $55,921 · related or exempt $55,921

  • 2f · All other program service revenue

    total $31,047 · related or exempt $31,047

  • 3 · Investment income

    total $881,830 · excluded $881,830

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $353,263 · program services $319,616 · management and general $33,647

  • 7 · Other salaries and wages

    total $150,722 · program services $135,650 · management and general $15,072

  • 9 · Other employee benefits

    total $38,093 · program services $34,284 · management and general $3,809

  • 10 · Payroll taxes

    total $42,767 · program services $38,490 · management and general $4,277

  • 11a · Fees: management

    total $759,177 · program services $759,177

  • 11b · Fees: legal

    total $231,942 · program services $171,404 · management and general $60,538

  • 11c · Fees: accounting

    total $51,210 · program services $50,610 · management and general $600

  • 11g · Fees: other

    total $3,289 · program services $139 · management and general $3,150

  • 12 · Advertising and promotion

    total $19,576 · program services $19,576

  • 13 · Office expenses

    total $138,585 · program services $136,985 · management and general $1,600

  • 14 · Information technology

    total $130,381 · program services $130,381

  • 16 · Occupancy

    total $5,776,027 · program services $5,766,358 · management and general $9,669

  • 17 · Travel

    total $31,018 · program services $14,218 · management and general $16,800

  • 19 · Conferences, conventions and meetings

    total $1,710 · management and general $1,710

  • 20 · Interest

    total $2,644,447 · program services $2,644,447

  • 22 · Depreciation, depletion and amortization

    total $2,465,075 · program services $2,463,320 · management and general $1,755

  • 24a · Other expenses: MGMT COMPANY LABOR COSTS

    total $1,870,133 · program services $1,870,133

  • 24b · Other expenses: BAD DEBT

    total $260,209 · program services $260,209

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $52,029 · program services $49,408 · management and general $2,621

  • 24d · Other expenses: TRAINING

    total $48,725 · program services $45,758 · management and general $2,967

  • 24e · All other expenses

    total $112,747 · program services $110,030 · management and general $2,717

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,407,220 · end of year $638,791

  • 2 · Savings and temporary cash investments

    beginning of year $16,887,225 · end of year $23,209,854

  • 4 · Accounts receivable

    beginning of year $1,504,163 · end of year $1,354,205

  • 7 · Other notes and loans receivable

    beginning of year $286,611

  • 9 · Prepaid expenses and deferred charges

    beginning of year $322,460 · end of year $408,571

  • 10a · Land, buildings and equipment: cost or other basis

    $97,598,050

  • 10b · Land, buildings and equipment: accumulated depreciation

    $39,768,414

  • 10c · Land, buildings and equipment, net

    beginning of year $60,227,702 · end of year $57,829,636

  • 13 · Investments: program-related

    beginning of year $1,101,917 · end of year $1,088,379

  • 15 · Other assets

    beginning of year $961,815 · end of year $1,289,095

  • 17 · Accounts payable and accrued expenses

    beginning of year $535,478 · end of year $1,609,334

  • 19 · Deferred revenue

    beginning of year $49,280 · end of year $49,380

  • 22 · Loans and payables to officers and key people

    beginning of year $2,025,387 · end of year $1,820,844

  • 23 · Secured mortgages and notes payable

    beginning of year $59,721,005 · end of year $58,139,389

  • 25 · Other liabilities

    beginning of year $6,818,575 · end of year $6,969,424

  • 27 · Net assets without donor restrictions

    beginning of year $17,549,388 · end of year $17,230,160

Mission and programs · 2023

Mission

CASCADE HOUSING ASSOCIATION IS ORGANIZED FOR THE PURPOSE OF RELIEVING THE SITUATION OF THE POOR AND IMPOVERISHED. THE ORGANIZATION'S MOST SIGNIFICANT FUNCTION, TO DATE, HAS BEEN TO PROVIDE DECENT AFFORDABLE RENTAL HOUSING TO PERSONS/HOUSEHOLDS WITH QUALIFIED LOW INCOMES, AS DETERMINED BY VARIOUS FEDERAL AND STATE AGENCIES.

  • EXPENSES RELATED TO THE MANAGEMENT AND OPERATION OF A TOTAL OF 978 UNITS OF EXISTING AFFORDABLE RENTAL HOUSING FOR LOW-INCOME INDIVIDUALS AND FAMILIES. THE APARTMENT COMPLEXES ARE: BOULDER CREEK HOUSING (156 UNITS IN OROVILLE, CA); TRUCKEE PINES (104 UNITS IN TRUCKEE, CA); FAWNBROOK INVESTMENTS LLC (160 UNITS IN TWIN FALLS, ID); MARSH CREEK APARTMENTS (126 UNITS IN BRENTWOOD, CA); THE KEARNEY HOUSE (32 UNITS IN PORTLAND, OR); FIFTH AVENUE COURT APARTMENTS (96 UNITS IN PORTLAND, OR); OAKRIDGE APARTMENTS (80 UNITS IN GRASS VALLEY, CA), CEDAR PARK APARTMENTS (81 UNITS IN GRASS VALLEY,CA) KENNEDY MEADOWS (56 UNITS IN JACKSON,CA), GLENBROOK APARTMENTS (52 UNITS IN GRASS VALLEY, CA) AND 1121 COBURG ROAD LLC (35 UNITS IN EUGENE, OR).

    Expenses $14,268,794 · Revenue $13,740,180

  • EXPENSES RELATED TO MANAGEMENT, DEVELOPMENT AND CONSTRUCTION OF HOUSING UNITS FOR LOW INCOME INDIVIDUALS AND FAMILIES.

    Expenses $751,399 · Revenue $239,887

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rodger Terrall

    PRESIDENT

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Connor Beckley

    VICE PRESIDE

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kristi Isham

    SECRETARY

    Total calculated
    $193,098
    From this org
    $187,786
    From related orgs
    $0
    Other
    $5,312
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,786
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,312
    Nontaxable benefits
    not reported
    Filer's total
    $193,098

  • Michelle Martin

    TREASURER

    Total calculated
    $143,365
    From this org
    $139,571
    From related orgs
    $0
    Other
    $3,794
    Hours/week
    40

  • Mildred Burke

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Brenda Hanssen

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tyler Mack

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lida Herburger

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jorge Elizalde

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FAWNBROOK INVESTMENTS LLC FAWNBROOK INVESTMENTS LLC

    HOUSING · OR · income $1,638,473 · assets $3,325,822

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • TRUCKEE PINES INVESTMENTS LLC TRUCKEE PINES INVESTMENTS LLC

    HOUSING · OR · income $1,530,739 · assets $4,242,894

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • BOULDER CREEK HOUSING LLC BOULDER CREEK HOUSING LLC

    HOUSING · OR · income $1,792,234 · assets $4,895,704

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • MARSH CREEK INVESTMENTS LLC MARSH CREEK INVESTMENTS LLC

    HOUSING · OR · income $2,672,109 · assets $14,040,961

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • 824 NW 20TH AVENUE LLC 824 NW 20TH AVENUE LLC

    HOUSING · OR · income $456,837 · assets $3,009,107

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • 221 NW FIFTH AVENUE LLC 221 NW FIFTH AVENUE LLC

    HOUSING · OR · income $1,423,597 · assets $7,335,773

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • OAK RIDGE PROJECT LLC OAK RIDGE PROJECT LLC

    HOUSING · OR · income $1,033,535 · assets $1,533,384

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • CEDAR PARK APTS CEDAR PARK APTS

    HOUSING · OR · income $1,195,823 · assets $6,204,277

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • KENNEDY APARTMENTS LLC KENNEDY APARTMENTS LLC

    HOUSING · OR · income $743,363 · assets $5,111,527

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • GLENBROOK APARTMENTS LLC GLENBROOK APARTMENTS LLC

    HOUISNG · OR · income $808,200 · assets $5,858,227

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • 1121 COBURG ROAD LLC 1121 COBURG ROAD LLC

    HOUSING · OR · income $466,439 · assets $4,405,726

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

  • 621 RIVER ROAD LLC 621 RIVER ROAD LLC

    HOUSING · OR

    Directly controlled by CASCADE CASCADE HOUSING ASSOCIATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • AUTUMN TERRACE DEVELOPMENT PTNRS LP AUTUMN TERRACE DEVELOPMENT PTNRS LP

    RELATED · HOUSING · OR · share of income -$23 · share of assets -$60,773 · general or managing partner

  • CITRONICA LEMON GROVE LP CITRONICA LEMON GROVE LP

    RELATED · HOUSING · OR · share of income -$16 · share of assets -$11,522 · general or managing partner

  • OREGON INVESTORS XI LTD PARTNERSHIP OREGON INVESTORS XI LTD PARTNERSHIP

    RELATED · HOUSING · OR · 0.05% owned · share of income -$124 · share of assets $20,015 · general or managing partner

  • CITRONICA TWO LP CITRONICA TWO LP

    RELATED · HOUSING · OR · share of income -$14 · share of assets $723,291 · general or managing partner

  • THE POST HOUSING LP THE POST HOUSING LP

    RELATED · HOUSING · OR · share of income -$6 · share of assets $16,830 · general or managing partner

  • LINCOLN SENIOR 2016 LP LINCOLN SENIOR 2016 LP

    RELATED · HOUSING · OR · 0.01% owned · share of income -$18 · share of assets $714,567 · general or managing partner

  • BROOKSIDE SENIOR 2018 LP BROOKSIDE SENIOR 2018 LP

    RELATED · HOUSING · OR · 0.01% owned · share of income -$29 · share of assets $347,749 · general or managing partner

  • TRUCKEE SENIOR 2019 LP TRUCKEE SENIOR 2019 LP

    RELATED · HOUSING · OR · 0.01% owned · share of income -$42 · share of assets $1,333,883 · general or managing partner

  • OREGON INVESTORS IV OREGON INVESTORS IV

    RELATED · HOUSING · OR · 99.99% owned · share of income -$426,571 · share of assets $5,169,890 · general or managing partner

  • OREGON INVESTORS VIII OREGON INVESTORS VIII

    RELATED · HOUSING · OR · 99.99% owned · share of income -$174,766 · share of assets $6,275,922 · general or managing partner

  • OREGON INVESTORS VII OREGON INVESTORS VII

    RELATED · HOUSING · OR · 99.99% owned · share of income -$119,536 · share of assets $5,939,332 · general or managing partner

  • OREGON INVESTMENT V OREGON INVESTORS V

    RELATED · HOUSING · OR · 99.99% owned · share of income -$231,773 · share of assets $1,533,168 · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PACIFIC HOUSING ASSOCIATION PACIFIC HOUSING ASSOCIATION

    C CORP · REAL ESTAT · OR

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202433189349310183

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