Form 990 for tax year 2022
Filed by WASHINGTON COMMUNITY REINVESTMENT ASSOCIATION.
Totals
- Total revenue
- $6,829,552
- Total expenses
- $6,582,797
- Contributions and grants received
- $7,500
- Grants paid
- $10,000
- Program service revenue
- $6,759,305
- Investment income
- $62,747
- Other revenue
- $0
- Total assets, end of year
- $128,543,683
- Total liabilities, end of year
- $122,584,771
- Net assets or fund balances, end of year
- $5,958,912
- Program services expenses (Part IX)
- $6,100,215
- Management and general expenses
- $482,582
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $6,100,215
Program services were 92.7% 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.
-
1b · Membership dues
$2,500
-
1f · All other contributions, gifts and grants
$5,000
-
2a · Program service revenue: LOAN INTEREST
total $5,884,122 · related or exempt $5,884,122
-
2b · Program service revenue: CONSTRUCTION REVIEW
total $463,589 · related or exempt $463,589
-
2c · Program service revenue: ADMINISTRATIVE SERVICE
total $225,670 · related or exempt $225,670
-
2d · Program service revenue: AGENCY INCOME
total $128,556 · related or exempt $128,556
-
2e · Program service revenue: LOAN FEES
total $57,368 · related or exempt $57,368
-
3 · Investment income
total $62,747 · excluded $62,747
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $10,000 · program services $10,000
-
5 · Compensation of officers, directors and key employees
total $494,141 · program services $380,489 · management and general $113,652
-
7 · Other salaries and wages
total $144,132 · program services $110,982 · management and general $33,150
-
8 · Pension plan contributions
total $137,603 · program services $105,954 · management and general $31,649
-
9 · Other employee benefits
total $63,447 · program services $48,854 · management and general $14,593
-
10 · Payroll taxes
total $60,007 · program services $46,205 · management and general $13,802
-
11b · Fees: legal
total $16,472 · management and general $16,472
-
11c · Fees: accounting
total $50,944 · management and general $50,944
-
11g · Fees: other
total $615,336 · program services $461,502 · management and general $153,834
-
12 · Advertising and promotion
total $5,684 · program services $4,263 · management and general $1,421
-
13 · Office expenses
total $40,185 · program services $30,139 · management and general $10,046
-
16 · Occupancy
total $116,275 · program services $87,206 · management and general $29,069
-
17 · Travel
total $5,128 · program services $3,846 · management and general $1,282
-
19 · Conferences, conventions and meetings
total $2,067 · program services $1,550 · management and general $517
-
20 · Interest
total $4,615,183 · program services $4,615,183
-
22 · Depreciation, depletion and amortization
total $7,364 · program services $5,523 · management and general $1,841
-
23 · Insurance
total $48,882 · program services $43,995 · management and general $4,887
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $113,444 · program services $113,444
-
24b · Other expenses: LICENSE AND FEES
total $16,499 · program services $14,849 · management and general $1,650
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $5,830 · program services $4,372 · management and general $1,458
-
24d · Other expenses: SERVICE CHARGES
total $4,621 · program services $4,621
-
24e · All other expenses
total $9,553 · program services $7,238 · management and general $2,315
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $8,348,155 · end of year $12,112,180
-
2 · Savings and temporary cash investments
beginning of year $2,304,405 · end of year $2,343,604
-
4 · Accounts receivable
beginning of year $637,813 · end of year $610,643
-
7 · Other notes and loans receivable
beginning of year $2,751,867 · end of year $2,639,917
-
9 · Prepaid expenses and deferred charges
beginning of year $20,428 · end of year $111,559
-
10a · Land, buildings and equipment: cost or other basis
$59,869
-
10b · Land, buildings and equipment: accumulated depreciation
$54,987
-
10c · Land, buildings and equipment, net
beginning of year $9,724 · end of year $4,882
-
11 · Investments: publicly traded securities
beginning of year $561 · end of year $561
-
13 · Investments: program-related
beginning of year $108,676,456 · end of year $110,330,187
-
15 · Other assets
beginning of year $0 · end of year $390,150
-
17 · Accounts payable and accrued expenses
beginning of year $294,674 · end of year $271,698
-
18 · Grants payable
beginning of year $8,981,211 · end of year $12,652,431
-
23 · Secured mortgages and notes payable
beginning of year $107,354,383 · end of year $108,811,383
-
25 · Other liabilities
beginning of year $406,984 · end of year $849,259
-
27 · Net assets without donor restrictions
beginning of year $5,712,157 · end of year $5,958,912
Mission and programs · 2022
Mission
THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN WASHINGTON STATE. TO EXPAND RESOURCES FOR REAL ESTATE BASED COMMUNITY DEVELOPMENT, AND TO BE A VOICE FOR ITS MEMBER FINANCIAL INSTITUTIONS ON AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT ISSUES.
Activities or mission (Part I)
THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN WASHINGTON STATE.
-
PROVIDE PERMANENT FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING AND REALTY-BASED ECONOMIC DEVELOPMENT IN WASHINGTON. ESTABLISHED TO ASSIST POTENTIAL BORROWERS IN OBTAINING PERMANENT FINANCING FOR MULTI-FAMILY PROJECTS VIA LOANS PARTICIPATED IN BY WCRA'S MEMBERS.
Expenses $4,460,109 · Grants $10,000 · Revenue $6,676,218
-
THE WELL PROGRAM IS A STATE FUNDED PROGRAM TO PROVIDE TECHNICAL ASSISTANCE, LOANS AND GRANTS TO EARLY LEARNING AND CHILDCARE PROVIDERS ACROSS THE STATE OF WASHINGTON. THE WCRA ADMINISTERS THE PROGRAM AND PROVIDES LENDING TECHNICAL ASSISTANCE, LOAN UNDERWRITING AND MANAGEMENT, PARTNERING WITH OTHER NONPROFITS WHO PROVIDE TECHNICAL ASSISTANCE AND GRANT FUNDING.
Expenses $1,640,106 · Revenue $83,087
As filed on the 2022 return.
Listed in Part VII
-
Susan DurenSUSAN DUREN
PRESIDENT (THRU 6/23)
- Total calculated
- $247,438
- From this org
- $215,827
- From related orgs
- $0
- Other
- $31,611
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $182,086
- Bonus
- $31,403
- Other
- $2,338
- Deferred
- $14,718
- Nontaxable benefits
- $16,893
- Filer's total
- $247,438
-
Dulcie ClaassenDULCIE CLAASSEN
VICE PRESIDENT (THRU 07/23)
- Total calculated
- $205,965
- From this org
- $177,654
- From related orgs
- $0
- Other
- $28,311
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,173
- Bonus
- $25,724
- Other
- $2,757
- Deferred
- $12,056
- Nontaxable benefits
- $16,255
- Filer's total
- $205,965
-
Angel RatliffANGEL RATLIFF
VICE PRESIDENT
- Total calculated
- $128,415
- From this org
- $105,420
- From related orgs
- $0
- Other
- $22,995
- Hours/week
- 40
-
Christine RovedaCHRISTINE ROVEDA
CHAIR (THRU 06/23), PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Bob PowersBOB POWERS
INTERIM CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jay ColemanJAY COLEMAN
SECRETARY (THRU 02/23)
- Total calculated
- $0
- Hours/week
- 0.5
-
Kim EthertonKIM ETHERTON
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Dustin KoonsDUSTIN KOONS
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Jennifer A BarnesJENNIFER A BARNES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jonathan ClarkeJONATHAN CLARKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike GilmoreMIKE GILMORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tim GrantTIM GRANT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Emily GrossmanEMILY GROSSMAN
DIRECTOR (THRU 05/23)
- Total calculated
- $0
- Hours/week
- 0.5
-
Kris HollingsheadKRIS HOLLINGSHEAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tedd KelleherTEDD KELLEHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Brett ManningBRETT MANNING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Caleb StephensCALEB STEPHENS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Stephen WalkerSTEPHEN WALKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Renae WhiteRENAE WHITE
DIRECTOR (THRU 7/23)
- Total calculated
- $0
- Hours/week
- 0.5
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
- 3 · Approval by the board or compensation committee
- 5a · Pay contingent on this organization's revenues
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 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 5
- THE COMPANY HAS AN EMPLOYEE BONUS PLAN THAT IS A CALCULATION OF VARIOUS PERFORMANCE AREAS. THE MAXIMUM AMOUNT OF THE POOL AVAILABLE FOR BONUS ALLOCATION IS EQUAL TO 25% OF THE NET REVENUE PER THE BUDGET VARIANCE REPORT SHOWN ON THE 4TH QUARTER FINANCIAL STATEMENTS AFTER CERTAIN ADJUSTMENTS ARE MADE. THE PERCENTAGE OF DISTRIBUTION OF THE POOL WILL BE DETERMINED BASED ON THE PERFORMANCE CRITERIA (GOALS) ADOPTED BY THE EXECUTIVE COMMITTEE OF THE WCRA BOARD OF DIRECTORS.
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.
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.
-
AGENT FOR WCRA LOAN ACTIVITY. · WA · income $128,556 · assets $0
Directly controlled by WASHINGTON COMMUNITY REINVESTMENT ASSOC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 April 2024
- IRS schema version
- 2022v5.0
- Source object
- 202421029349301607
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