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← EASTSIDE RESIDENTIAL OPPORTUNITIES

Form 990 for tax year 2022

Filed by EASTSIDE RESIDENTIAL OPPORTUNITIES.

Totals

Total revenue
$324,606
Total expenses
$381,140
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$263,292
Investment income
$9
Other revenue
$61,305
Total assets, end of year
$737,632
Total liabilities, end of year
$885,671
Net assets or fund balances, end of year
-$148,039
Program services expenses (Part IX)
$273,296
Management and general expenses
$107,844
Fundraising expenses
$0
Program service expenses (Part III)
$273,296

Program services were 71.7% 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: RENT - JUNIPERWOOD

    total $263,292 · related or exempt $263,292

  • 3 · Investment income

    total $9 · excluded $9

  • 11a · Other revenue: INSURANCE CLAIMS

    total $61,148 · excluded $61,148

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $157 · excluded $157

  • 11e · Other revenue, total

    $61,305

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $37,800 · management and general $37,800

  • 11g · Fees: other

    total $12,959 · management and general $12,959

  • 13 · Office expenses

    total $25,681 · program services $23,908 · management and general $1,773

  • 16 · Occupancy

    total $178,190 · program services $178,190

  • 20 · Interest

    total $55,312 · management and general $55,312

  • 22 · Depreciation, depletion and amortization

    total $40,202 · program services $40,202

  • 23 · Insurance

    total $27,786 · program services $27,786

  • 24a · Other expenses: MAINTENANCE & SUPPLIES

    total $2,994 · program services $2,994

  • 24b · Other expenses: BAD DEBT

    total $216 · program services $216

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,310 · end of year $5,158

  • 2 · Savings and temporary cash investments

    beginning of year $184,478 · end of year $195,456

  • 4 · Accounts receivable

    beginning of year $1,750 · end of year $64,076

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

    $1,156,269

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

    $683,327

  • 10c · Land, buildings and equipment, net

    beginning of year $513,144 · end of year $472,942

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,845 · end of year $100,991

  • 19 · Deferred revenue

    beginning of year $324 · end of year $2,504

  • 21 · Escrow or custodial account liability

    beginning of year $3,789 · end of year $4,031

  • 23 · Secured mortgages and notes payable

    beginning of year $610,972 · end of year $575,203

  • 25 · Other liabilities

    beginning of year $193,257 · end of year $202,942

  • 27 · Net assets without donor restrictions

    beginning of year -$91,505 · end of year -$148,039

Mission and programs · 2022

Mission

EASTSIDE RESIDENTIAL OPPORTUNITIES (ERO) IS A WASHINGTON NON-PROFIT CORPORATION, ORGANIZED FOR THE PURPOSE OF DEVELOPING AND OPERATING THE JUNIPERWOOD APARTMENTS (PROJECT), A 20-UNIT PROJECT LOCATED IN ISSAQUAH, WASHINGTON. ERO OPERATES UNDER THE PROVISIONS OF SECTION 202 OF THE NATIONAL HOUSING ACT. THE PROJECT PROVIDES LOW INCOME HOUSING DESIGNED TO MEET THE NEEDS OF THE ELDERLY AND PEOPLE WITH HANDICAPPING CONDITIONS, INCLUDING CONTRACTED CASE MANAGEMENT AND SPECIALIZED THERAPEUTIC SERVICES.

Activities or mission (Part I)

OPERATION OF LOW INCOME HOUSING FOR ELDERLY AND INDIVIDUALS WITH HANDICAPPING CONDITIONS.

  • TO OPERATE JUNIPERWOOD APARTMENTS, A 20-UNIT PROJECT LOCATED IN ISSAQUAH, WASHINGTON. THIS PROJECT PROVIDES LOW-INCOME HOUSING DESIGNED TO MEET THE NEEDS OF INDIVIDUALS WITH A MENTAL HEALTH DISABILITY. IT IS ALSO SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS.

    Expenses $273,296 · Revenue $263,292

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Patrick Evans

    CHIEF EXECUTIVE OFFICER (THRU 12/22)

    Total calculated
    $511,883
    From this org
    $0
    From related orgs
    $493,810
    Other
    $18,073
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $331,824 related
    Bonus
    $0 + $14,283 related
    Other
    $0 + $147,703 related
    Deferred
    $0 + $9,150 related
    Nontaxable benefits
    $0 + $8,923 related
    Filer's total
    $0 + $511,883 related

  • Katrina Egner

    INTERIM PRESIDENT AND CEO

    Total calculated
    $245,830
    From this org
    $0
    From related orgs
    $223,913
    Other
    $21,917
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,207 related
    Bonus
    $0
    Other
    $0 + $706 related
    Deferred
    $0 + $6,717 related
    Nontaxable benefits
    $0 + $15,200 related
    Filer's total
    $0 + $245,830 related

  • Mike De Luca

    EXECUTIVE VP AND CFO

    Total calculated
    $172,033
    From this org
    $0
    From related orgs
    $167,022
    Other
    $5,011
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $165,385 related
    Bonus
    $0
    Other
    $0 + $1,637 related
    Deferred
    $0 + $5,011 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $172,033 related

  • Paul Eisenhauer

    CHIEF FINANCIAL OFFICER (THRU 4/22)

    Total calculated
    $171,529
    From this org
    $0
    From related orgs
    $164,114
    Other
    $7,415
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,582 related
    Bonus
    $0 + $250 related
    Other
    $0 + $2,282 related
    Deferred
    $0 + $4,923 related
    Nontaxable benefits
    $0 + $2,492 related
    Filer's total
    $0 + $171,529 related

  • Tom Bolger

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 12 related

  • Robert Stadler

    BOARD CHAIR (THRU 10/22)

    Total calculated
    $0
    Hours/week
    1 + 12 related

  • Eddie Pasatiempo

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 12 related

  • Meg Taylor

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1 + 12 related

  • George Stewart

    TREASURER (THRU 9/22)

    Total calculated
    $0
    Hours/week
    1 + 12 related

  • Rob Nielsen

    SECRETARY (THRU 7/22)

    Total calculated
    $0
    Hours/week
    1 + 12 related

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

  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

PART I, LINE 4A
THE FOLLOWING PERSONS RECEIVED A SEVERANCE PAYMENT: -EVANS, PATRICK $141,066
PART I, LINE 3: COMPENSATION REVIEW
A RELATED ORGANIZATION, SOUND, ANNUALLY REVIEWS COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER; THE CEO ANNUALLY REVIEWS ALL OF THE OTHER OFFICERS INCLUDING CHIEF FINANCIAL OFFICER.

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.

Related partnerships

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

  • KENYON & BOZEMAN LP

    RENTAL REAL ESTATE · WA

Provenance

Return type
form_990
Tax year
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202312999349301786

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