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Nonprofiteer
← SIMPSON REAL ESTATE HOLDING COMPANY

Form 990 for tax year 2024

Filed by SIMPSON REAL ESTATE HOLDING COMPANY.

Totals

Total revenue
$92,802
Total expenses
$840,295
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$92,802
Other revenue
$0
Total assets, end of year
$25,851,916
Total liabilities, end of year
$26,623,945
Net assets or fund balances, end of year
-$772,029
Program services expenses (Part IX)
$798,418
Management and general expenses
$41,877
Fundraising expenses
$0
Program service expenses (Part III)
$798,418

Program services were 95.0% 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.

  • 3 · Investment income

    total $92,802 · excluded $92,802

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $315,028 · program services $315,028

  • 24a · Other expenses: DEVELOPMENT EXPENSE

    total $483,390 · program services $483,390

  • 24b · Other expenses: BANK FEES

    total $41,877 · management and general $41,877

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $22,133,857 · end of year $13,330,879

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

    $12,521,037

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $3,314,291 · end of year $12,521,037

  • 17 · Accounts payable and accrued expenses

    beginning of year $606,284 · end of year $1,749,615

  • 23 · Secured mortgages and notes payable

    beginning of year $24,866,400 · end of year $24,874,330

  • 27 · Net assets without donor restrictions

    beginning of year -$24,536 · end of year -$772,029

Mission and programs · 2024

Mission

SIMPSON REAL ESTATE HOLDING COMPANY WAS CREATED BY SIMPSON HOUSING SERVICES TO FINANCE THE CONSTRUCTION OF THE NEW SHELTER. THE MISSION STATEMENT FOR SIMPSON HOUSING SERVICES IS TO HOUSE, SUPPORT, & ADVOCATE FOR PEOPLE EXPERIENCING HOMELESSNESS. WE KNOW THAT WITH CLOSE, INDIVIDUAL ADVOCACY & SUPPORT INDIVIDUALS & FAMILIES EXPERIENCING HOMELESSNESS ACHIEVE HOUSING STABILITY.

  • THE PROJECT IS A NEW SHELTER ON THE SITE OF SIMPSON'S ORIGINAL SHELTER. ITS FEATURES WILL INCLUDE 72 SHELTER BEDS, AN ON-SITE HEALTH CLINIC, A COMMERCIAL KITCHEN AND DINING ROOM, ACCESS TO PRIVATE GREEN SPACE, AND MORE. ADDITIONALLY, THE PROJECT BUILDING WILL BE SHARED WITH PROJECT FOR PRIDE IN LIVING (PPL). REHC WILL OWN AND LEASE THE EMERGENCY SHELTER ON THE FIRST TWO FLOORS OF THE BUILDING TO SIMPSON HOUSING SERVICES, AND PPL WILL OWN AND OPERATE 42 SUPPORTIVE HOUSING UNITS ON THE UPPER TWO FLOORS. THE PROJECT IS ANTICIPATED TO BE COMPLETED BY JANUARY 31, 2026.

    Expenses $798,418

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • STEVE HORSFIELD

    BOARD CHAIR/PRESIDENT

    Total calculated
    $176,190
    From this org
    $0
    From related orgs
    $161,668
    Other
    $14,522
    Hours/week
    2 + 2 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,668 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $14,522 related
    Filer's total
    $0 + $176,190 related

  • MARK HAMEL

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • FRANK FALLON

    BOARD VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • JOHN NOLAN

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • DEB WARD

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • WENDY WIEGMANN

    VICE PRESIDENT

    Total calculated
    $145,288
    From this org
    $0
    From related orgs
    $131,595
    Other
    $13,693
    Hours/week
    2

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

None.

Answered no

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
28 January 2026
IRS schema version
2024v5.5
Source object
202620299349301717

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