Skip to content
Nonprofiteer
← WASHINGTON COMMUNITY REINVESTMENT ASSOCIATION

Form 990 for tax year 2023

Filed by WASHINGTON COMMUNITY REINVESTMENT ASSOCIATION.

Totals

Total revenue
$7,224,499
Total expenses
$6,865,505
Contributions and grants received
$8,500
Grants paid
$10,000
Program service revenue
$7,000,946
Investment income
$215,053
Other revenue
$0
Total assets, end of year
$133,044,181
Total liabilities, end of year
$126,726,275
Net assets or fund balances, end of year
$6,317,906
Program services expenses (Part IX)
$6,330,189
Management and general expenses
$535,316
Fundraising expenses
$0
Program service expenses (Part III)
$6,330,189

Program services were 92.2% 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.

  • 1f · All other contributions, gifts and grants

    $8,500

  • 2a · Program service revenue: LOAN INTEREST

    total $5,872,285 · related or exempt $5,872,285

  • 2b · Program service revenue: CONSTRUCTION REVIEW

    total $536,407 · related or exempt $536,407

  • 2c · Program service revenue: LOAN FEES

    total $322,852 · related or exempt $322,852

  • 2d · Program service revenue: ADMINISTRATIVE SERVICE

    total $141,291 · related or exempt $141,291

  • 2e · Program service revenue: AGENCY INCOME

    total $128,111 · related or exempt $128,111

  • 3 · Investment income

    total $215,053 · excluded $215,053

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 $429,738 · program services $330,898 · management and general $98,840

  • 7 · Other salaries and wages

    total $71,474 · program services $55,035 · management and general $16,439

  • 8 · Pension plan contributions

    total $230,170 · program services $177,231 · management and general $52,939

  • 9 · Other employee benefits

    total $98,992 · program services $76,224 · management and general $22,768

  • 10 · Payroll taxes

    total $60,681 · program services $46,724 · management and general $13,957

  • 11b · Fees: legal

    total $53,850 · management and general $53,850

  • 11c · Fees: accounting

    total $75,353 · management and general $75,353

  • 11g · Fees: other

    total $562,807 · program services $422,105 · management and general $140,702

  • 12 · Advertising and promotion

    total $12,161 · program services $9,121 · management and general $3,040

  • 13 · Office expenses

    total $54,083 · program services $40,562 · management and general $13,521

  • 16 · Occupancy

    total $112,253 · program services $84,190 · management and general $28,063

  • 17 · Travel

    total $11,567 · program services $8,675 · management and general $2,892

  • 19 · Conferences, conventions and meetings

    total $5,135 · program services $3,851 · management and general $1,284

  • 20 · Interest

    total $4,816,073 · program services $4,816,073

  • 22 · Depreciation, depletion and amortization

    total $2,447 · program services $1,835 · management and general $612

  • 23 · Insurance

    total $51,431 · program services $46,288 · management and general $5,143

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $169,903 · program services $169,903

  • 24b · Other expenses: LICENSE AND FEES

    total $18,196 · program services $16,376 · management and general $1,820

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,857 · program services $4,393 · management and general $1,464

  • 24d · Other expenses: SERVICE CHARGES

    total $2,712 · program services $2,712

  • 24e · All other expenses

    total $10,622 · program services $7,993 · management and general $2,629

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,112,180 · end of year $4,805,695

  • 2 · Savings and temporary cash investments

    beginning of year $2,343,604 · end of year $3,103,397

  • 4 · Accounts receivable

    beginning of year $610,643 · end of year $694,115

  • 7 · Other notes and loans receivable

    beginning of year $2,639,917 · end of year $9,589,035

  • 9 · Prepaid expenses and deferred charges

    beginning of year $111,559 · end of year $60,084

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

    $60,390

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

    $55,155

  • 10c · Land, buildings and equipment, net

    beginning of year $4,882 · end of year $5,235

  • 11 · Investments: publicly traded securities

    beginning of year $561 · end of year $561

  • 13 · Investments: program-related

    beginning of year $110,330,187 · end of year $114,493,681

  • 15 · Other assets

    beginning of year $390,150 · end of year $292,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $271,698 · end of year $381,793

  • 18 · Grants payable

    beginning of year $12,652,431 · end of year $12,684,002

  • 23 · Secured mortgages and notes payable

    beginning of year $108,811,383 · end of year $112,832,176

  • 25 · Other liabilities

    beginning of year $849,259 · end of year $828,304

  • 27 · Net assets without donor restrictions

    beginning of year $5,958,912 · end of year $6,317,906

Mission and programs · 2023

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 $6,188,898 · Grants $10,000 · Revenue $6,905,556

  • 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 $141,291 · Revenue $95,390

As filed on the 2023 return.

Listed in Part VII

  • Susan Duren

    FORMER PRESIDENT (THRU 06/23)

    Total calculated
    $211,200
    From this org
    $168,766
    From related orgs
    $0
    Other
    $42,434
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,454
    Bonus
    $42,269
    Other
    $18,043
    Deferred
    $11,701
    Nontaxable benefits
    $30,733
    Filer's total
    $211,200

  • Christine Roveda

    PRESIDENT (FROM 07/23)

    Total calculated
    $143,172
    From this org
    $127,528
    From related orgs
    $0
    Other
    $15,644
    Hours/week
    40

  • Bob Powers

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Tim Grant

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Dustin Koons

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Kim Etherton

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Jennifer A Barnes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jonathan Clarke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mike Gilmore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kris Hollingshead

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tedd Kelleher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Brett Manning

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Caleb Stephens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Stephen Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Angel Ratliff

    VICE PRESIDENT

    Total calculated
    $160,344
    From this org
    $134,533
    From related orgs
    $0
    Other
    $25,811
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $98,769
    Bonus
    $31,914
    Other
    $3,850
    Deferred
    $8,174
    Nontaxable benefits
    $17,637
    Filer's total
    $160,344

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.

  • 1200 5TH LLC

    AGENT FOR WCRA LOAN ACTIVITY. · WA · income $128,111 · assets $0

    Directly controlled by WASHINGTON COMMUNITY REINVESTMENT ASSOC

Provenance

Return type
form_990
Tax year
2023
Filed
7 August 2025
IRS schema version
2023v6.0
Source object
202522199349301147

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.