Skip to content
Nonprofiteer
← NORTHWEST REAL ESTATE CAPITAL CORPORATION

Form 990 for tax year 2023

Filed by NORTHWEST REAL ESTATE CAPITAL CORPORATION.

Totals

Total revenue
$18,272,008
Total expenses
$17,154,035
Contributions and grants received
$5,514,368
Grants paid
$0
Program service revenue
$10,910,238
Investment income
$1,737,036
Other revenue
$110,366
Total assets, end of year
$80,554,258
Total liabilities, end of year
$34,020,236
Net assets or fund balances, end of year
$46,534,022
Program services expenses (Part IX)
$15,468,165
Management and general expenses
$1,685,870
Fundraising expenses
$0
Program service expenses (Part III)
$15,468,165

Program services were 90.2% 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.

  • 1e · Government grants (contributions)

    $5,504,653

  • 1f · All other contributions, gifts and grants

    $9,715

  • 2a · Program service revenue: RENTAL INCOME

    total $4,385,871 · related or exempt $4,385,871

  • 2b · Program service revenue: MANAGEMENT AND ADMIN

    total $3,226,397 · related or exempt $3,226,397

  • 2c · Program service revenue: OTHER INCOME

    total $1,947,138 · related or exempt $1,947,138

  • 2d · Program service revenue: DEVELOPER FEES

    total $1,166,840 · related or exempt $1,166,840

  • 2e · Program service revenue: LAUNDRY INCOME

    total $38,075 · related or exempt $38,075

  • 2f · All other program service revenue

    total $145,917 · related or exempt $145,917

  • 3 · Investment income

    total $1,457,204 · excluded $1,457,204

  • 7a · Gross sales of assets other than inventory

    other assets $582,968

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

    other assets $303,136

  • 7c · Gain or loss

    other assets $279,832

  • 7d · Net gain or loss

    total $279,832 · unrelated business $279,832

  • 11a · Other revenue: LOAN FORGIVENESS INCOME

    total $110,366 · related or exempt $110,366

  • 11e · Other revenue, total

    $110,366

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,110,005 · program services $396,994 · management and general $713,011

  • 7 · Other salaries and wages

    total $4,843,276 · program services $4,843,276

  • 8 · Pension plan contributions

    total $291,964 · program services $291,964

  • 9 · Other employee benefits

    total $431,447 · program services $431,447

  • 10 · Payroll taxes

    total $698,231 · program services $698,231

  • 11b · Fees: legal

    total $83,482 · program services $83,482

  • 11c · Fees: accounting

    total $202,373 · program services $122,994 · management and general $79,379

  • 11g · Fees: other

    total $97,168 · program services $97,168

  • 12 · Advertising and promotion

    total $1,011 · program services $1,011

  • 13 · Office expenses

    total $784,450 · program services $173,438 · management and general $611,012

  • 20 · Interest

    total $1,599,821 · program services $1,554,348 · management and general $45,473

  • 22 · Depreciation, depletion and amortization

    total $1,840,368 · program services $1,804,625 · management and general $35,743

  • 24a · Other expenses: MAINTENANCE

    total $1,355,084 · program services $1,268,996 · management and general $86,088

  • 24b · Other expenses: TAXES AND INSURANCE

    total $1,036,604 · program services $933,615 · management and general $102,989

  • 24c · Other expenses: UTILITIES

    total $963,163 · program services $950,988 · management and general $12,175

  • 24d · Other expenses: ADMINISTRATIVE EXPENSES

    total $861,180 · program services $861,180

  • 24e · All other expenses

    total $954,408 · program services $954,408

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,922,921 · end of year $19,074,508

  • 4 · Accounts receivable

    beginning of year $2,211,085 · end of year $2,138,585

  • 7 · Other notes and loans receivable

    beginning of year $10,209,236 · end of year $12,459,429

  • 9 · Prepaid expenses and deferred charges

    beginning of year $306,825 · end of year $473,376

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

    $63,897,214

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

    $28,940,267

  • 10c · Land, buildings and equipment, net

    beginning of year $29,920,329 · end of year $34,956,947

  • 14 · Intangible assets

    beginning of year $1,067,110 · end of year $1,040,862

  • 15 · Other assets

    beginning of year $9,862,876 · end of year $10,410,551

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,938,554 · end of year $2,159,039

  • 21 · Escrow or custodial account liability

    beginning of year $298,565 · end of year $342,703

  • 23 · Secured mortgages and notes payable

    beginning of year $21,666,568 · end of year $30,950,378

  • 25 · Other liabilities

    beginning of year $300,365 · end of year $568,116

  • 27 · Net assets without donor restrictions

    beginning of year $40,296,330 · end of year $46,534,022

Mission and programs · 2023

Mission

LOW INCOME HOUSING PURSUANT TO IRS REV. PROC. 96-32ACQUISITION, MANAGEMENT AND PRESERVATION OF LOW INCOME HOUSING FOR THE RELIEF OF THE POOR AND DISTRESSED PRIMARILY HUD, USDA AND IRS SECTION 42 LOW INCOME MULTIFAMILY HOUSING

Activities or mission (Part I)

LOW INCOME HOUSING PER IRS REV. PROC. 96-32THE COMPANY ACQUIRES, MANAGES AND PRESERVES LOW INCOME MULTIFAMILY HOUSING, PRIMARILY HUD SECTION 8, USDA SECTION 515 AND IRS SECTION 42 LOW INCOME MULTIFAMILY HOUSING FOR EXTREMELY LOW INCOME AND VERY LOW AND LOW INCOME POPULATIONS.

  • NORTHWEST REAL ESTATE CAPITAL CORPORATION'S MISSION IS TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME FAMILIES. THE CORPORATION DOES THIS BY OPERATING VARIOUS PROJECTS UNDER HUD, RD, AND STATE HOUSING AUTHORITY PROGRAMS. IN ADDITION TO PROVIDING HOUSING, THE CORPORATION IS ALSO INVOLVED IN PRESERVING EXISTING AFFORDABLE HOUSING PROJECTS THROUGH THE USE OF THE IRS SECTION 42 LOW-INCOME HOUSING TAX CREDIT PROGRAM. THE CORPORATION MANAGES OVER 100 LOW-INCOME MULTIFAMILY HOUSING PROJECTS OR ENTITIES IN THE NORTHWEST AREA OF THE UNITED STATES.

    Expenses $15,468,165 · Revenue $11,020,604

As filed on the 2023 return.

Listed in Part VII

  • Brad Elg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Eric Steigers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • James G Martin Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • William J Russell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • See Schedule O

    DISCLOSURE

    Total calculated
    $0
    Hours/week
    40

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.

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.

  • NWRECC PRESERVATION LLC

    RENTAL REAL ESTATE · ID

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • COMMUNITY DEVELOPMENT OF OREGON LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • COMMUNITY DEVELOPMENT OF OREGON II LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • SEACREST COMMUNITY DEVELOPMENT LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • IDAHO COMMUNITY DEVELOPMENT II LLC

    RENTAL REAL ESTATE · ID

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • COMMUNITY DEVELOPMENT OF OREGON III LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWRECC MIRACLES CLUB LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWRECC INDIAN CREEK COURT LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWRECC VILLA WEST LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWRECC STEWART TERRACE LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NORTHWEST LEISURE VILLAGE LLC

    RENTAL REAL ESTATE · ID · income $194,193 · assets $556,662

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • SEACREST AFFORDABLE HOUSING PRESERVATION LP

    RENTAL REAL ESTATE · OR · income $292,886 · assets $1,903,898

    Directly controlled by SEACREST COMMUNITY DEVELOPMENT LLC

  • SIERRA VISTA LP

    RENTAL REAL ESTATE · OR · income $299,613 · assets $778,661

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • COMMUNITY DEVELOPMENT OF OREGON IV LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • TAMARACK PROPERTY MANAGEMENT CO

    RENTAL REAL ESTATE · MT · income $2,230,324 · assets $1,603,908

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • HAILEY PLACE LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · OR · income $389,231 · assets $508,657

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NORTHWEST HAILEY PLACE LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • SGA DEVELOPMENT LLC

    RENTAL REAL ESTATE · MT

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • BGA DEVELOPMENT LLC

    RENTAL REAL ESTATE · MT

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWRECC IDAHO COMMUNITY DEVELOPMENT LLC

    RENTAL REAL ESTATE · ID

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWMBII MANAGER LLC

    RENTAL REAL ESTATE · OR

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • HAYDEN LAKE III ASSOCIATES

    RENTAL REAL ESTATE · ID · income $297,869 · assets $1,256,140

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • BONNERS FERRY ASSOCIATES

    RENTAL REAL ESTATE · ID · income $304,804 · assets $1,008,873

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • LOUISE GARDENS ASSOCIATES

    RENTAL REAL ESTATE · ID · income $304,796 · assets $1,192,841

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • APPLE TREE ASSOCIATES

    RENTAL REAL ESTATE · UT · income $268,225 · assets $800,033

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • BLANDING ASSOCIATES

    RENTAL REAL ESTATE · UT · income $210,528 · assets $957,804

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • HURRICANE ASSOCIATES

    RENTAL REAL ESTATE · ID · income $213,973 · assets $1,165,233

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • TRAILWINDS ASSOCIATES LLC

    RENTAL REAL ESTATE · ID

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

Related partnerships

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

  • OREGON AFFORDABLE HOUSING PRESERVATION LP

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income -$193,979 · share of assets $5,618,770 · general or managing partner

    Directly controlled by COMMUNITY DEVELOPMENT OF OREGON LLC

  • OREGON AFFORDABLE HOUSING PRESERVATION II LP

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income $15 · share of assets $3,122,096 · general or managing partner

    Directly controlled by COMMUNITY DEVELOPMENT OF OREGON II LLC

  • NORTHWEST CRESTVIEW COURT LLC

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income -$3 · share of assets $15,086 · general or managing partner

    Directly controlled by COMMUNITY DEVELOPMENT OF OREGON III LLC

  • NORTHWEST MILL CREEK LLC

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of income -$5 · share of assets $137,272 · general or managing partner

    Directly controlled by IDAHO COMMUNITY DEVELOPMENT II LLC

  • NORTHWEST WINDWOOD LLC

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of income -$7 · share of assets $482,477 · general or managing partner

    Directly controlled by IDAHO COMMUNITY DEVELOPMENT II LLC

  • NORTHWEST PIONEER SQUARE LLC

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of income -$13 · share of assets $933,515 · general or managing partner

    Directly controlled by IDAHO COMMUNITY DEVELOPMENT II LLC

  • MIRACLES CLUB MLK LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income -$172,232 · share of assets $456,409 · general or managing partner

    Directly controlled by NWRECC MIRACLES LLC

  • NORTHWEST HIGH VALLEY ESTATES LLC

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income -$4 · share of assets $315,633 · general or managing partner

    Directly controlled by COMMUNITY DEVELOPMENT OF OREGON IV LLC

  • SWEET GRASS APARTMENTS LP

    RELATED · RENTAL REAL ESTATE · MT · 0.01% owned · share of income -$6 · share of assets $413,471 · general or managing partner

    Directly controlled by SGA DEVELOPMENT LLC

  • BUFFALO GRASS APARTMENTS LLLP

    RELATED · RENTAL REAL ESTATE · MT · 0.01% owned · share of income -$15,304 · share of assets $229,102 · general or managing partner

    Directly controlled by BGA DEVELOPMENT LLC

  • TRAILWINDS LP

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of income -$20 · share of assets $269,905 · general or managing partner

    Directly controlled by TRAILWINDS ASSOCIATES LLC

  • NORTHWEST PASSAGE APARTMENTS LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of income -$30 · share of assets $483,792 · general or managing partner

    Directly controlled by NWP MANAGER LLC

  • NORTHWEST COLORADO GARDENS LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · CO · 0.01% owned · share of income -$20 · share of assets $218,789 · general or managing partner

    Directly controlled by NWCG MANAGER LLC

  • NORTHWEST MEADOWBROOK II LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income -$11 · share of assets $771,237 · general or managing partner

    Directly controlled by NWMBII MANAGER LLC

  • HYRUM ASSOCIATES

    RELATED · RENTAL REAL ESTATE · UT · 58% owned · share of income $1,499 · share of assets $33,082 · general or managing partner

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORPORATION

  • ORCA POINT ASSOCIATES

    RELATED · RENTAL REAL ESTATE · ID · 0.03% owned · share of income $16 · share of assets $16,038 · general or managing partner

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORPORATION

  • THE SURREY LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · WY · 99.99% owned · share of income $4,128 · share of assets $785,010

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORPORATION

  • NORTHWEST VALOR POINTE LLC

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of assets $183 · general or managing partner

    Directly controlled by NVP MANAGER LLC

  • NORTHWEST SANDSTONE LLC

    RELATED · RENTAL REAL ESTATE · UT · 0.01% owned · share of income -$22 · share of assets $124 · general or managing partner

    Directly controlled by THE SANDSTONE MANAGER LLC

  • NORTHWEST IRON HORSE LLC

    RELATED · RENTAL REAL ESTATE · CO · 0.01% owned · share of income -$67 · share of assets $1,905,034 · general or managing partner

    Directly controlled by NIH MANAGER LLC

  • NORTHWEST DEPOT SQUARE LLC

    RELATED · RENTAL REAL ESTATE · ID · 0.01% owned · share of income -$103 · share of assets $1,591,877 · general or managing partner

    Directly controlled by NWDS MANAGER LLC

  • NORTHWEST MEADOWBROOK I LLC

    RELATED · RENTAL REAL ESTATE · OR · 0.01% owned · share of income -$45 · share of assets $500,552 · general or managing partner

    Directly controlled by NWMBI MANAGER LLC

Related corporations and trusts

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

  • TW MANAGER LLC

    C · RENTAL REAL ESTATE · ID · 100% owned · share of income -$20,040 · share of assets $345,911

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWP MANAGER LLC

    C · RENTAL REAL ESTATE · ID · 100% owned · share of income -$30 · share of assets $483,792

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWCG MANAGER LLC

    C · RENTAL REAL ESTATE · CO · 100% owned · share of income -$20 · share of assets $218,789

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NVP MANAGER LLC

    C · RENTAL REAL ESTATE · ID · 100% owned · share of income -$20,000 · share of assets $183

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • THE SANDSTONE MANAGER LLC

    C · RENTAL REAL ESTATE · UT · 100% owned · share of income -$22 · share of assets $124

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NIH MANAGER LLC

    C · RENTAL REAL ESTATE · CO · 100% owned · share of income -$20,060 · share of assets $1,905,034

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWDS MANAGER LLC

    C · RENTAL REAL ESTATE · ID · 100% owned · share of income -$103 · share of assets $1,591,875

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • NWMBI MANAGER LLC

    C · RENTAL REAL ESTATE · OR · 100% owned · share of income -$320 · share of assets $500,552

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

  • MW MEADOWLARK MANAGER LLC

    C · RENTAL REAL ESTATE · MT · 100% owned

    Directly controlled by NORTHWEST REAL ESTATE CAPITAL CORP

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202413139349300746

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.