Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $138,817

• 1d · Related organizations

  $8,000

• 1e · Government grants (contributions)

  $14,813,579

• 1f · All other contributions, gifts and grants

  $2,847,052

• 1g · Noncash contributions included above

  $19,705

• 2a · Program service revenue: PROGRAM SERVICE FEES

  total $458,563 · related or exempt $458,563

• 2b · Program service revenue: ADVERTISING

  total $1,538 · unrelated business $1,538

• 3 · Investment income

  total $224,376 · excluded $224,376

• 6a · Gross rents

  real property $265,391

• 6b · Less rental expenses

  real property $489,834

• 6c · Rental income or loss

  real property -$224,443

• 6d · Net rental income or loss

  total -$224,443 · related or exempt -$262,888 · excluded $38,445

• 7a · Gross sales of assets other than inventory

  securities $133,815

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

  securities $128,034

• 7c · Gain or loss

  securities $5,781

• 7d · Net gain or loss

  total $5,781 · excluded $5,781

• 8a · Fundraising events: gross income

  $26,969

• 8a · Fundraising events: contributions included on line 1c

  $138,817

• 8b · Fundraising events: direct expenses

  $58,276

• 8c · Net income from fundraising events

  total -$31,307 · excluded -$31,307

• 9a · Gaming: gross income

  $1,873

• 9b · Gaming: direct expenses

  $910

• 9c · Net income from gaming

  total $963 · excluded $963

• 10a · Gross sales of inventory

  $153,890

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $153,890 · related or exempt $153,890

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,506,766 · program services $1,140,622 · management and general $295,326 · fundraising $70,818

• 7 · Other salaries and wages

  total $7,842,702 · program services $5,899,196 · management and general $1,570,364 · fundraising $373,142

• 8 · Pension plan contributions

  total $230,558 · program services $174,533 · management and general $45,189 · fundraising $10,836

• 9 · Other employee benefits

  total $933,164 · program services $716,609 · management and general $172,417 · fundraising $44,138

• 10 · Payroll taxes

  total $971,685 · program services $760,898 · management and general $171,171 · fundraising $39,616

• 11b · Fees: legal

  total $54,936 · management and general $54,936

• 11c · Fees: accounting

  total $241,413 · management and general $241,413

• 11f · Fees: investment management

  total $19,656 · management and general $19,656

• 11g · Fees: other

  total $1,390,903 · program services $926,110 · management and general $253,646 · fundraising $211,147

• 12 · Advertising and promotion

  total $76,699 · program services $6,495 · management and general $39,156 · fundraising $31,048

• 13 · Office expenses

  total $175,319 · program services $33,792 · management and general $69,805 · fundraising $71,722

• 14 · Information technology

  total $137,511 · program services $115,401 · management and general $14,215 · fundraising $7,895

• 16 · Occupancy

  total $378,265 · program services $306,847 · management and general $58,087 · fundraising $13,331

• 17 · Travel

  total $559,131 · program services $540,810 · management and general $11,173 · fundraising $7,148

• 19 · Conferences, conventions and meetings

  total $26,673 · program services $4,792 · management and general $19,801 · fundraising $2,080

• 20 · Interest

  total $180,421 · program services $151,361 · management and general $19,297 · fundraising $9,763

• 22 · Depreciation, depletion and amortization

  total $300,062 · program services $243,409 · management and general $46,078 · fundraising $10,575

• 23 · Insurance

  total $261,801 · program services $209,381 · management and general $50,197 · fundraising $2,223

• 24a · Other expenses: PROGRAM SUPPLIES AND EQ

  total $2,942,965 · program services $2,890,131 · management and general $26,688 · fundraising $26,146

• 24b · Other expenses: OTHER

  total $72,336 · program services $47,234 · management and general $21,308 · fundraising $3,794

• 24c · Other expenses: TAXES AND FEES

  total $59,951 · program services $31,328 · management and general $22,329 · fundraising $6,294

• 24d · Other expenses: IN-KIND SUPPLIES

  total $8,943 · program services $8,500 · fundraising $443

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,019,175 · end of year $3,279,248

• 4 · Accounts receivable

  beginning of year $2,462,814 · end of year $2,745,612

• 8 · Inventories for sale or use

  beginning of year $72,871 · end of year $62,306

• 9 · Prepaid expenses and deferred charges

  beginning of year $293,049 · end of year $233,524

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

  $9,596,998

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

  $6,392,105

• 10c · Land, buildings and equipment, net

  beginning of year $3,525,450 · end of year $3,204,893

• 11 · Investments: publicly traded securities

  beginning of year $7,223,988 · end of year $8,195,124

• 15 · Other assets

  beginning of year $1,279,095 · end of year $1,568,577

• 17 · Accounts payable and accrued expenses

  beginning of year $2,494,027 · end of year $2,163,559

• 20 · Tax-exempt bond liabilities

  beginning of year $1,458,210 · end of year $1,412,064

• 23 · Secured mortgages and notes payable

  beginning of year $3,832,791 · end of year $3,732,392

• 25 · Other liabilities

  beginning of year $913,680 · end of year $1,011,344

• 27 · Net assets without donor restrictions

  beginning of year $8,769,269 · end of year $6,005,036

• 28 · Net assets with donor restrictions

  beginning of year $1,408,465 · end of year $4,964,889

The filer's explanations (Part III)

PART I, LINE 3

THE CEO'S COMPENSATION ADJUSTMENTS ARE REVIEWED BY THE BOARD CHAIR AND THE EXECUTIVE COMMITTEE PRIOR TO ANY CHANGES IN COMPENSATION. THE DELIBERATION AND DECISION IS DOCUMENTED IN THE MEETING MINUTES. THE HUMAN RESOURCES DEPARTMENT ADMINISTERS ALL ASPECTS OF THE COMPENSATION PLAN, INCLUDING: - PARTNERING WITH EXECUTIVE LEADERSHIP AND DEPARTMENT MANAGERS TO DEVELOP AND MAXIMIZE WORKFORCE COMPETENCIES, RETAIN VALUED EMPLOYEES, ENHANCE CAREER GROWTH, AND SUPPORT SUCCESSION PLANNING. - MANAGING THE ADOPTED WAGE SCALE, INITIAL PAY PLACEMENT, AND EMPLOYEE PAY CHANGES. - CONDUCTING AND PARTICIPATING IN WAGE SURVEYS. ANALYZING WAGE DATA, PERFORMING WAGE COMPARISONS, AND RECOMMENDING CHANGES TO JOB CLASSIFICATIONS, PAY GRADES, AND THE SOUND GENERATIONS WAGE SCALE AS NECESSARY.

Disregarded entities

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

• BELLTOWN SENIOR APARTMENTS LLC

  LOW INCOME SERVICES · WA · income $228,513 · assets $1,464,388

  Directly controlled by SOUND GENERATIONS