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Nonprofiteer
← LOYAL HEIGHTS MANOR

Form 990 for tax year 2024

Filed by LOYAL HEIGHTS MANOR.

Totals

Total revenue
$1,403,319
Total expenses
$1,558,391
Contributions and grants received
$820,822
Grants paid
$550,000
Program service revenue
$331,768
Investment income
$198,010
Other revenue
$52,719
Total assets, end of year
$6,579,859
Total liabilities, end of year
$7,200,579
Net assets or fund balances, end of year
-$620,720
Program services expenses (Part IX)
$1,498,284
Management and general expenses
$60,107
Fundraising expenses
$0
Program service expenses (Part III)
$1,498,284

Program services were 96.1% 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)

    $820,822

  • 2a · Program service revenue: APARTMENT RENTALS

    total $245,094 · related or exempt $245,094

  • 2b · Program service revenue: COORDINATOR REVENUE

    total $86,674 · related or exempt $86,674

  • 3 · Investment income

    total $236,329 · related or exempt $236,329

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

    securities $38,319

  • 7c · Gain or loss

    securities -$38,319

  • 7d · Net gain or loss

    total -$38,319 · related or exempt -$38,319

  • 11a · Other revenue: UNREALIZED GAIN ON INV

    total $52,719 · related or exempt $52,719

  • 11e · Other revenue, total

    $52,719

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $550,000 · program services $550,000

  • 7 · Other salaries and wages

    total $195,601 · program services $195,601

  • 9 · Other employee benefits

    total $35,221 · program services $35,221

  • 10 · Payroll taxes

    total $18,694 · program services $18,694

  • 11a · Fees: management

    total $60,107 · management and general $60,107

  • 11b · Fees: legal

    total $1,776 · program services $1,776

  • 11c · Fees: accounting

    total $20,480 · program services $20,480

  • 12 · Advertising and promotion

    total $108 · program services $108

  • 13 · Office expenses

    total $23,844 · program services $23,844

  • 16 · Occupancy

    total $452,801 · program services $452,801

  • 17 · Travel

    total $4,853 · program services $4,853

  • 22 · Depreciation, depletion and amortization

    total $137,801 · program services $137,801

  • 24a · Other expenses: MAINTENANCE AND SUPPLIE

    total $49,935 · program services $49,935

  • 24b · Other expenses: B&O TAXES

    total $3,922 · program services $3,922

  • 24c · Other expenses: TRAINING

    total $3,248 · program services $3,248

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $105,631 · end of year $156,857

  • 4 · Accounts receivable

    beginning of year $31,221 · end of year $31,380

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,376 · end of year $33,457

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

    $4,666,099

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

    $3,218,446

  • 10c · Land, buildings and equipment, net

    beginning of year $1,569,262 · end of year $1,447,653

  • 12 · Investments: other securities

    beginning of year $2,700,459 · end of year $3,010,570

  • 15 · Other assets

    beginning of year $2,438,190 · end of year $1,899,942

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,607 · end of year $60,766

  • 19 · Deferred revenue

    beginning of year $1,000 · end of year $1,048

  • 23 · Secured mortgages and notes payable

    beginning of year $7,261,234 · end of year $7,117,213

  • 25 · Other liabilities

    beginning of year $21,946 · end of year $21,552

  • 27 · Net assets without donor restrictions

    beginning of year -$465,648 · end of year -$620,720

Mission and programs · 2024

Mission

TO PROVIDE ELDERLY OR PERSONS OF DISABILITY ON A NONPROFIT BASIS, RENTAL HOUSING AND RELATED FACILITIES TO MEET THEIR PHYSICAL AND SOCIAL NEEDS AND CONTRIBUTE TO THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING.

Activities or mission (Part I)

TO PROVIDE HOUSING FOR ELDERLY OR DISABILED PERSONS TO MEET THEIR PHYSICAL AND SOCIAL NEEDS.

  • LOYAL HEIGHTS IS A NON-PROFIT WASHINGTON STATE CORPORATION INCORPORATED ON OCTOBER 4, 1978, WHICH HOLDS LEGAL TITLE TO THE PROJECT. THE PROJECT IS A 54-UNIT APARTMENT COMPLEX FOR LOW-INCOME ELDERLY AND PERSONS OF DISABILITY LOCATED IN SEATTLE, WASHINGTON. THE PROJECT IS OPERATED UNDER HOUSING AND URBAN DEVELOPMENT (HUD) SECTION 202 AND SECTION 8. THE PROJECT'S MAJOR PROGRAM IS ITS SECTION 202 DIRECT LOAN PROGRAM. THE PROJECT ALSO IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD.

    Expenses $1,498,284 · Grants $550,000 · Revenue $582,497

  • PROVIDE ASSISTANCE TO ELDERLY AND MISSIONARIES.

As filed on the 2024 return.

Listed in Part VII

  • Robert Reetz

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Amy Turnbull

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lars Eggehorn

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • David Pitney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Roger Dahl

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Samuel Brodland

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

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

Provenance

Return type
form_990
Tax year
2024
Filed
2 July 2025
IRS schema version
2024v5.2
Source object
202501839349301655

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