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Nonprofiteer
← FIRST A M E HOUSING ASSOCIATION

Form 990 for tax year 2024

Filed by FIRST A M E HOUSING ASSOCIATION.

Totals

Total revenue
$16,584,333
Total expenses
$1,914,214
Contributions and grants received
$1,950,000
Grants paid
$0
Program service revenue
$2,220,023
Investment income
$12,414,310
Other revenue
$0
Total assets, end of year
$33,646,943
Total liabilities, end of year
$142,328
Net assets or fund balances, end of year
$33,504,615
Program services expenses (Part IX)
$1,914,214
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,914,214

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $1,950,000

  • 2a · Program service revenue: RENTAL INCOME

    total $2,149,407 · related or exempt $2,149,407

  • 2b · Program service revenue: MISCELLANEOUS REVENUE

    total $67,147 · related or exempt $67,147

  • 2c · Program service revenue: LAUNDRY AND VENDING

    total $3,469 · related or exempt $3,469

  • 3 · Investment income

    total $669,769 · excluded $669,769

  • 7a · Gross sales of assets other than inventory

    other assets $12,020,000

  • 7b · Less cost or other basis and sales expenses

    other assets $275,459

  • 7c · Gain or loss

    other assets $11,744,541

  • 7d · Net gain or loss

    total $11,744,541 · related or exempt $11,744,541

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $628,853 · program services $628,853

  • 9 · Other employee benefits

    total $66,743 · program services $66,743

  • 10 · Payroll taxes

    total $60,660 · program services $60,660

  • 11a · Fees: management

    total $73,333 · program services $73,333

  • 11b · Fees: legal

    total $12,004 · program services $12,004

  • 11c · Fees: accounting

    total $148,464 · program services $148,464

  • 13 · Office expenses

    total $93,489 · program services $93,489

  • 19 · Conferences, conventions and meetings

    total $2,296 · program services $2,296

  • 22 · Depreciation, depletion and amortization

    total $65,056 · program services $65,056

  • 23 · Insurance

    total $141,332 · program services $141,332

  • 24a · Other expenses: SECURITY CONTRACT

    total $148,564 · program services $148,564

  • 24b · Other expenses: UTILITIES

    total $132,079 · program services $132,079

  • 24c · Other expenses: OTHER EXPENSES

    total $106,136 · program services $106,136

  • 24d · Other expenses: BAD DEBT

    total $91,235 · program services $91,235

  • 24e · All other expenses

    total $143,970 · program services $143,970

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $283,946 · end of year $143,264

  • 2 · Savings and temporary cash investments

    beginning of year $4,098,434 · end of year $2,929,288

  • 4 · Accounts receivable

    beginning of year $195,207 · end of year $739,837

  • 7 · Other notes and loans receivable

    beginning of year $10,415,387 · end of year $24,235,387

  • 9 · Prepaid expenses and deferred charges

    beginning of year $56,639 · end of year $24,844

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

    $5,405,396

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

    $1,664,825

  • 10c · Land, buildings and equipment, net

    beginning of year $643,423 · end of year $3,740,571

  • 15 · Other assets

    beginning of year $3,907,811 · end of year $1,833,752

  • 17 · Accounts payable and accrued expenses

    beginning of year $645,968 · end of year $105,203

  • 19 · Deferred revenue

    beginning of year $52,060 · end of year $8,872

  • 25 · Other liabilities

    beginning of year $68,316 · end of year $28,253

  • 27 · Net assets without donor restrictions

    beginning of year $16,009,381 · end of year $31,554,615

  • 28 · Net assets with donor restrictions

    beginning of year $2,825,122 · end of year $1,950,000

Mission and programs · 2024

Mission

PROVISION OF AFFORDABLE HOUSING TO LOW AND MODERATE INCOME FAMILIES AND THE ELDERLY

  • FIRST AME CHURCH HOUSING CORPORATION IS A NON-PROFIT WASHINGTON STATE CORPORATION THAT HAS LEGAL TITLE TO THREE PROPERTIES. THROUGH OUT THE THREE PROPERTIES ARE 98 UNITS, LOCATED IN SEATTLE, WASHINGTON.

    Expenses $1,914,214 · Revenue $2,220,023

As filed on the 2024 return.

Listed in Part VII

  • Roxanne Buchanan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Larry Landry

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Marcus Price

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Harold Wright

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ross Haynes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Simeon Rhoden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Linda Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Gilmore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Camille Jenkins

    DIRECTOR

    Total calculated
    $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.

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.

  • FIRST AME CHURCH

    501C3 · RELIGIOUS · WA

    Directly controlled by NA

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.

Related corporations and trusts

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

  • BRYANT MANOR SOUTH

    C CORP · RENTAL RE · WA · 79% owned · share of assets $13,933,061 · controlled entity

    Directly controlled by FIRST AME

Provenance

Return type
form_990
Tax year
2024
Filed
30 October 2025
IRS schema version
2024v5.0
Source object
202523039349300247

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